Drafter
Clerk 01/12/2015
title
A MOTION of the county council approving a purchase contract for the county's Sewer Revenue Refunding Bonds, 2015, Series A, in the aggregate principal amount of $474,025,000 and Limited Tax General Obligation Refunding Bonds (Payable from Sewer Revenues), 2015, Series A, in the aggregate principal amount of $247,825,000 and establishing certain terms of such bonds, and approving a plan of refunding from proceeds of such bonds, all in accordance with Ordinance 17599, as amended.
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WHEREAS, the county council by Ordinance 17599 passed on June 3, 2013, as amended on January 12, 2015 ("the Bond Ordinance"), authorized the issuance and sale of not to exceed $1,300,000,000 aggregate principal amount of bonds of the county payable from sewer revenues to refund certain outstanding bonds of the county payable from sewer revenues ("the Refunding Bonds"), and
WHEREAS, the Bond Ordinance authorizes the sale of the Refunding Bonds in one or more series, as Parity Bonds or Parity Lien Obligations (as such terms are defined in the Bond Ordinance), as Tax-Exempt Bonds or otherwise, and by negotiated sale or competitive bid, as determined by the county's director of finance and business operations division ("the Finance Director") in consultation with the county's financial advisor, and
WHEREAS, the county has heretofore issued the following Refunding Bonds: Sewer Revenue and Refunding Bonds, 2013, Series B, in the aggregate principal amount of $25,470,000; Sewer Revenue and Refunding Bond, 2014, Series A, in the aggregate principal amount of $70,355,000; and Sewer Revenue Refunding Bonds, 2014, Series B, in the aggregate principal amount of $192,460,000; and
WHEREAS, the Finance Director has determined that $474,025,000 principal amount of Refunding Bonds be sold by negotiated sale in a series of Parity Bonds, to be designated as the county's Sewer Revenue Refunding Bonds, 2015, Series A ("the Sewer Revenue Bonds"), structured as...

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