Reference No. CR-035-2017    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 6/13/2017
Introduced Date 5/16/2017 Public Hearing Date 6/13/2017 @ 10:00 AM
Effective date: 6/13/2017    
Title: A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year financing agreement for the lease purchase financing of essential Prince George’s County (“County”) equipment and vehicles and to refinance outstanding certificates of participation.
Proposers/Sponsors: County Executive, Derrick Leon Davis, Andrea C. Harrison, Todd M. Turner, Deni L. Taveras, Dannielle M. Glaros
Attachments: 1. R2017035, 2. CR-35-2017 AIS.pdf, 3. CR-35-2017 Report, 4. CR-35-2017 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 lease purchase financing of essential Prince George’s County (“County”) equipment and vehicles and to refinance outstanding certificates of participation.

 

Background

This Resolution will:  a) approve a multi-year Financing Agreement to fund the County’s 2017 capital equipment requirements of $24.1 million plus associated issuance expenses, and b) authorize the refinancing of the Series 2011 Certificates of Participation (Public Safety Communications Center).  These approvals are required by Section 819 of the Charter for Prince George’s County, Maryland. 

 

The fiscal impact on the County for capital equipment and vehicle purchases will be negative.  The fiscal impact on the County for the refunding will be positive.  Debt service is the sole responsibility of the County.



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