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

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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