Legislation Details

Reference No. CB-051-2012    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 7/24/2012
Introduced Date 6/19/2012 Public Hearing Date
Effective date: 9/17/2012    
Title: An Act concerning borrowing to finance Capital Projects for School Projects in an amount not to exceed $151,232,000, and providing for the issuance of such bonds
Proposers/Sponsors: Will Campos, Derrick Leon Davis, Mel Franklin, Andrea C. Harrison, Mary A. Lehman, Eric C. Olson, Obie Patterson, Karen R. Toles, County Executive
Code sections: None - None
Attachments: 1. ACTION SUMMARY S2012051, 2. B2012051.pdf
Contact: Joseph R. Hamlin Office of Law
Title An Act concerning borrowing to finance Capital Projects for School Projects in an amount not to exceed $151,232,000, and providing for the issuance of such bonds Background This bill provides the authority to borrow an amount not to exceed $151,232,000 to finance school facilities improvements as approved in the FY2013-2018 Capital Improvement Program. The amount enabled will provide sufficient funding to complete a useable portion of each project as required by Section 823 of the County Charter. The borrowings authorized in this bill will occur over several years as programmed in the FY2013-2018 Capital Improvement Program.