Reference No. CB-102-2012    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/7/2012
Introduced Date 10/9/2012 Public Hearing Date
Effective date: 1/7/2013    
Title: An Act concerning the issuance and sale of General Obligation Stormwater Management Bonds in an amount not to exceed Fifty-Seven Million Two Hundred Ninety-Nine Thousand Dollars ($57,299,000)
Proposers/Sponsors: Andrea C. Harrison, County Executive
Code sections: None - None
Attachments: 1. ACTION SUMMARY S2012102, 2. B2012102.pdf
Contact: Joseph Hamlin Office of Law
Title An Act concerning the issuance and sale of General Obligation Stormwater Management Bonds in an amount not to exceed Fifty-Seven Million Two Hundred Ninety-Nine Thousand Dollars ($57,299,000) Background This bill provides the authority to issue and sell bonds in an amount not to exceed $57,299,000 for stormwater management projects and reflects the amount programmed in the FY 2013 Capital Budget, stormwater management bond anticipation notes in anticipation of any such bonds, and stormwater management refunding bonds. Revenue from Stormwater Management District Fund will support the interest and principal payments on the bonds, notes and refunding bonds issued and sold pursuant to the legislation. The projects are listed in Attachment 1 of the legislation. The fiscal impact on the County for any bonds or bond anticipation notes will be negative to the extent of the debt service obligation incurred by the County when the bonds or notes are sold; the fiscal impact on the County for any refunding bonds should be positive when such refunding bonds are sold.



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