Prince George's County Council - Reference No. CR-035-2017

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Details

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

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
6/13/2017	1	County Council	public hearing held		Action details	Meeting details	Video
6/13/2017	1	County Council	adopted	Pass	Action details	Meeting details	Video
5/16/2017	1	County Council	introduced and referred		Action details	Meeting details	Video
5/16/2017	1	Sitting as the Committee of the Whole	Favorably recommended	Pass	Action details	Meeting details	Video

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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