Prince George's County Council - Reference No. CR-088-2017

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Details

Reference No.

CR-088-2017 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

11/7/2017

Introduced Date

10/17/2017

Public Hearing Date

11/72017 @ 10:30 a.m.

Effective date:

11/7/2017

Title:

A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year Financing Agreement for the financing of certain public infrastructure improvements.

Proposers/Sponsors:

County Executive, Derrick Leon Davis, Todd M. Turner, Dannielle M. Glaros, Mel Franklin, Karen R. Toles

Attachments:

1. R2017088, 2. CR-88-2017 AIS, 3. CR-88-2017 Transmittal

Contact:

Ronald Halper, Office of Finance

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
11/7/2017	1	County Council	adopted	Pass	Action details	Meeting details	Video
11/7/2017	1	County Council	public hearing held		Action details	Meeting details	Video
11/7/2017	1	Sitting as the Committee of the Whole	Favorably recommended	Pass	Action details	Meeting details	Not available
10/17/2017	1	County Council	introduced and referred		Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year Financing Agreement for the financing of certain public infrastructure improvements.

Background

This legislation will approve a multi-year Financing Agreement to fund, a) public infrastructure improvements of $32 million plus, b) associated issuance expenses, and c) if necessary, a debt service reserve fund. Council approval is required by Section 819 of the Charter for Prince George’s County, Maryland.

The fiscal impact on the County will be negative. Debt service is the sole responsibility of the County.

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