Prince George's County Council - Reference No. CB-020-2023

• Reference No.: CB-020-2023
• Draft No.: 1
• Type: Council Bill
• Status: Enacted
• Meeting Body: County Council
• Meeting Date: 4/11/2023
• Introduced Date: 3/21/2023
• Public Hearing Date: 04/11/2023 @ 1:00 PM
• Effective date: 6/5/2023
• 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 five hundred sixty-four million one hundred thirty-eight thousand dollars ($564,138,000) in aggregate principal amount of general obligation bonds and Seventy-eight million eight hundred and five thousand dollars ($78,805,000) 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, 2023; describing the projects or usable parts to be financed in whole or in part from the proceeds of t...
• Proposers/Sponsors: County Executive, Thomas E. Dernoga, Jolene Ivey, Ingrid S. Watson, Mel Franklin, Wanika Fisher, Sydney J. Harrison
• Contact: Amber Hendricks, Office of Management and Budget

Date	Ver.	Action By	Action	Result
4/20/2023	1	County Executive	signed
4/11/2023	1	County Council	public hearing held
4/11/2023	1	County Council	enacted	Pass
3/21/2023	1	County Council	introduced
3/9/2023	1	Government Operations and Fiscal Policy Committee	Favorably recommended	Pass
1/31/2023	1	County Council	presented and referred

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 five hundred sixty-four million one hundred thirty-eight thousand dollars ($564,138,000) in aggregate principal amount of general obligation bonds and Seventy-eight million eight hundred and five thousand dollars ($78,805,000) 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, 2023; 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 paym...