Prince George's County Council - Reference No. CR-072-2016

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Details

Reference No.

CR-072-2016 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

11/1/2016

Introduced Date

9/20/2016

Public Hearing Date

11/1/2016 @ 10:30 a.m.

Effective date:

Title:

A RESOLUTION CONCERNING CONTRACT APPROVAL for the purpose of approving a multi-year Financing Agreement between Prince George’s County, Maryland, (“County”) and Old Line Bankshares, Inc. and Industrial Bank (collectively “Banking Consortium”) to acquire various County equipment.

Proposers/Sponsors:

County Executive, Derrick Leon Davis, Dannielle M. Glaros, Mel Franklin, Deni L. Taveras

Attachments:

1. R2016072, 2. CR-72-2016 AIS.pdf, 3. CR-072-2016 Report, 4. CR-072-2016 Fiscal Impact, 5. CR-72-2016 Transmittal Letter

Contact:

Sean Dixon, Office of Law

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
11/1/2016	1	County Council	public hearing held		Action details	Meeting details	Video
11/1/2016	1	County Council	adopted	Pass	Action details	Meeting details	Video
10/20/2016	1	Public Safety and Fiscal Management Committee	Favorably recommended	Pass	Action details	Meeting details	Not available
10/13/2016	1	Public Safety and Fiscal Management Committee	Held in Committee		Action details	Meeting details	Not available
9/27/2016	1	County Council	introduced and referred		Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING CONTRACT APPROVAL for the purpose of approving a multi-year Financing Agreement between Prince George’s County, Maryland, (“County”) and Old Line Bankshares, Inc. and Industrial Bank (collectively “Banking Consortium”) to acquire various County equipment.

Background

Pursuant to Section 819 of the Prince George’s County Charter, this Resolution will approve a multi-year financing agreement between Prince George's County, Maryland (“County”) and Old Line Bankshares, Inc. and Industrial Bank (“Banking Consortium”). The multi-year agreement is to have the Banking Consortium acquire various County equipment.

Section 819 of the Prince George's County Charter requires multi-year contracts that are in excess of five hundred thousand dollars ($500,000) be approved by resolution of the County Council.

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