Reference No. CB-100-2023    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/21/2023
Introduced Date 10/23/2023 Public Hearing Date 11/21/2023 @ 10:00 AM
Effective date: 1/29/2024    
Title: AN ACT CONCERNING THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS AND GENERAL OBLIGATION STORMWATER MANAGEMENT BONDS for the purpose of authorizing and empowering Prince George’s County, Maryland to issue and sell an amount not to exceed six hundred fifty-four million four hundred nine thousand dollars ($654,409,000) in aggregate principal amount of general obligation bonds and one hundred twenty-five million six hundred thirty-six thousand dollars ($125,636,000) in aggregate principal amount of general obligation stormwater management bonds for the purpose of providing funds for financing in whole or in part costs of the planning, acquisition, construction, reconstruction, establishment, extension, enlargement, demolition, or improvement of certain capital projects and stormwater projects, respectively, set forth in the capital budget of the County for the fiscal year ending June 30, 2024; describing the projects or usable parts to be financed in whole or in part from the proceeds o...
Proposers/Sponsors: County Executive, Thomas E. Dernoga, Jolene Ivey, Ingrid S. Watson, Eric C. Olson, Calvin S. Hawkins, Wala Blegay
Attachments: 1. B2023100, 2. CB-100-2023 Attachment 1, 3. CB-100-2023 Summary, 4. CB-100-2023 Report, 5. CB-100-2023 PAFI, 6. CB-100-2023 Transmittal
Contact: Brian Halloran, Office of Management and Budget
Title
AN ACT CONCERNING THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS AND GENERAL OBLIGATION STORMWATER MANAGEMENT BONDS for the purpose of authorizing and empowering Prince George’s County, Maryland to issue and sell an amount not to exceed six hundred fifty-four million four hundred nine thousand dollars ($654,409,000) in aggregate principal amount of general obligation bonds and one hundred twenty-five million six hundred thirty-six thousand dollars ($125,636,000) in aggregate principal amount of general obligation stormwater management bonds for the purpose of providing funds for financing in whole or in part costs of the planning, acquisition, construction, reconstruction, establishment, extension, enlargement, demolition, or improvement of certain capital projects and stormwater projects, respectively, set forth in the capital budget of the County for the fiscal year ending June 30, 2024; describing the projects or usable parts to be financed in whole or in part from the proceeds of the bonds hereby authorized and the estimated costs thereof and the probable useful lives thereof; prescribing or providing for the procedures for the issuance and sale of such bonds at private (negotiated) sale or public sale; declaring the County’s official intent to reimburse itself for certain expenditures paid before the issuance of the bonds authorized hereby in accordance with applicable Income Tax Regulations; authorizing the consolidation of such bonds with other bonds for purposes of such sale; showing compliance with the power of the County to incur indebtedness; directing the application of the proceeds of such bonds and the proceeds of bonds previously issued by an act of the County; pledging the full faith and credit and taxing power of the County to the payment of such bonds and providing for the levy and collection of taxes necessary for the payment of the principal of and interest on such bonds when due; authorizing the pledge of Clean Water Act Fees to the p...

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