Reference No. CR-027-2004    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 7/6/2004
Introduced Date 5/26/2004 Public Hearing Date
Effective date: 7/6/2004    
Title: A Resolution declaring the intent of the County to issue special obligation bonds and use the proceeds to pay or reimburse expenditures for the costs of public infra- structure improvements in the National Harbor Development District and the National Harbor Special Taxing District
Proposers/Sponsors: County Executive
Code sections: None - None
Attachments: 1. ACTION SUMMARY T2004027, 2. R2004027.pdf
Contact: Legal Counsel
Title A Resolution declaring the intent of the County to issue special obligation bonds and use the proceeds to pay or reimburse expenditures for the costs of public infra- structure improvements in the National Harbor Development District and the National Harbor Special Taxing District Background Applicable regulations of the U.S. Treasury Department provide that capital expenditures paid from sources other than proceeds of obligations may be reimbursed with proceeds of obligations provided that prior to the expenditures (or not later than 60 days following the expenditures), the issuer of the obligations takes official action declaring its intent to issue bonds to finance the expenditures. This Resolution declares the intent of the County to issue special obligation bonds in the expected maximum principal amount of Sixty-five Million Dollars ($65,000,000) and use the proceeds to pay or reimburse expenditures for the costs of the Infrastructure Improvements.



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