Reference No. CB-052-2017    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 7/11/2017
Introduced Date 6/13/2017 Public Hearing Date 7/11/2017 @ 10:30 AM
Effective date: 8/28/2017    
Title: AN ACT CONCERNING THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS for the purpose of authorizing and empowering Prince George's County, Maryland to issue and sell an amount not to exceed Three Hundred Thirty Seven Million Five Hundred Twenty Thousand Dollars ($337,520,000) in aggregate principal amount of general obligation bonds with serial maturities, including mandatory sinking fund installments in lieu of serial maturities, for the purpose of providing funds for financing in whole or in part costs of the planning, construction, reconstruction, establishment, extension, enlargement, demolition, improvement or acquisition of certain capital projects set forth in the capital budget of the County for the fiscal year ending June 30, 2017, or usable portions thereof, including describing the capital projects to be financed in whole or in part from the proceeds of the bonds hereby authorized and the estimated costs and probable useful lives thereof; prescribing or providing for the proc...
Proposers/Sponsors: County Executive, Derrick Leon Davis, Mary A. Lehman, Andrea C. Harrison, Todd M. Turner, Dannielle M. Glaros, Mel Franklin, Deni L. Taveras, Obie Patterson
Attachments: 1. B2017052, 2. CB-52-2017 Attachment 1, 3. CB-52-2017 AIS.pdf, 4. CB-52-2017 Report, 5. CB-52-2017 Fiscal Impact, 6. CB-52-2017 Transmittal, 7. CB-52-2017 Comment
Contact: Kim M. Knight, Office of Management and Budget
Title
AN ACT CONCERNING THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS for the purpose of authorizing and empowering Prince George's County, Maryland to issue and sell an amount not to exceed Three Hundred Thirty Seven Million Five Hundred Twenty Thousand Dollars ($337,520,000) in aggregate principal amount of general obligation bonds with serial maturities, including mandatory sinking fund installments in lieu of serial maturities, for the purpose of providing funds for financing in whole or in part costs of the planning, construction, reconstruction, establishment, extension, enlargement, demolition, improvement or acquisition of certain capital projects set forth in the capital budget of the County for the fiscal year ending June 30, 2017, or usable portions thereof, including describing the capital projects to be financed in whole or in part from the proceeds of the bonds hereby authorized and the estimated costs and probable useful lives thereof; prescribing or providing for the procedures for the issuance and sale of such bonds at 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 and empowering the County to issue and sell an amount not to exceed Three Hundred Thirty Seven Million Five Hundred Twenty Thousand Dollars ($337,520,000) in general obligation bond anticipation notes in antici...

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