Reference No. CB-076-2017    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 10/24/2017
Introduced Date 9/26/2017 Public Hearing Date 10/24/2017 @ 10:00 AM
Effective date: 12/19/2017    
Title: AN ACT CONCERNING STORMWATER MANAGEMENT - WASTEWATER PROTECTION AND RESTORATION PROGRAM REVENUE OBLIGATIONS - MARYLAND WATER QUALITY FINANCING ADMINISTRATION LOAN for the purpose of authorizing and empowering Prince George’s County, Maryland (the “County”) to borrow money and incur indebtedness in a principal amount not exceeding Forty Eight Million Dollars ($48,000,000) (the “Loan”) under a loan agreement (the “Loan Agreement”) to be executed and delivered by the County and the Maryland Water Quality Financing Administration (the “Administration”) to be evidenced and secured by a revenue note or other obligation (the “Note”) in principal amount equal to the amount of the Loan under the Loan Agreement and to borrow money and incur indebtedness in order to refund or refinance the Loan and the Note and any other indebtedness authorized hereby in a maximum principal amount not to exceed one hundred fifty percent (150%) of the aggregate principal amount of the indebtedness refunded or refi...
Proposers/Sponsors: County Executive, Derrick Leon Davis, Mel Franklin, Dannielle M. Glaros, Mary A. Lehman, Deni L. Taveras, Todd M. Turner
Attachments: 1. B2017076, 2. CB-76-2017 AIS.pdf, 3. CB-76-2017 Report, 4. CB-76-2017 Fiscal Impact, 5. CB-76-2017 Transmittal
Contact: Sean Dixon, Office of Law
Title
AN ACT CONCERNING STORMWATER MANAGEMENT - WASTEWATER PROTECTION AND RESTORATION PROGRAM REVENUE OBLIGATIONS - MARYLAND WATER QUALITY FINANCING ADMINISTRATION LOAN for the purpose of authorizing and empowering Prince George’s County, Maryland (the “County”) to borrow money and incur indebtedness in a principal amount not exceeding Forty Eight Million Dollars ($48,000,000) (the “Loan”) under a loan agreement (the “Loan Agreement”) to be executed and delivered by the County and the Maryland Water Quality Financing Administration (the “Administration”) to be evidenced and secured by a revenue note or other obligation (the “Note”) in principal amount equal to the amount of the Loan under the Loan Agreement and to borrow money and incur indebtedness in order to refund or refinance the Loan and the Note and any other indebtedness authorized hereby in a maximum principal amount not to exceed one hundred fifty percent (150%) of the aggregate principal amount of the indebtedness refunded or refinanced (collectively, the “Obligations”), pursuant to the Maryland Water Quality Financing Administration Act, Sections 9-1601 to 9-1622, inclusive, of the Environment Article of the Annotated Code of Maryland, as amended, replaced or recodified from time to time (the “Water Quality Act”) and Section 10-203(b) of the Local Government Article of the Annotated Code of Maryland, as amended, replaced or recodified from time to time, for the purpose of financing and refinancing in whole or in part costs of the design, planning, construction, equipping, installation, reconstruction, establishment, expansion, extension, enlargement, demolition, improvement and acquisition of certain capital improvement projects of the County’s Stormwater Management - Watershed Protection and Restoration Program set forth in the capital program and the capital budget of the County adopted by the County pursuant to Council Bill CB-32-2016, passed by the County Council on May 26, 2016, and approved by th...

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