Drafter
Clerk 07/30/2008
title
A MOTION accepting a bid for the purchase of the county's Limited Tax General Obligation (Public Transportation Sales Tax) Refunding Bonds, 2008, in the aggregate principal amount of $______________, and establishing certain terms of such bonds, all in accordance with Ordinance _________.
body
WHEREAS, the county council by Ordinance ________ passed ________, 2008 (the "Bond Ordinance"), authorized the issuance and sale of limited tax general obligation (public transportation sales tax) refunding bonds (the "Bonds") of the county in the aggregate principal amount of not to exceed $103,000,000 to currently refund all or a portion of the county's outstanding Limited Tax General Obligation (Public Transportation Sales Tax) Refunding Bonds, 1998, Series A, and to advance refund all or a portion of the county's outstanding Limited Tax General Obligation (Public Transportation Sales Tax) Bonds, 2004, all consistent with the ordinances authorizing those bonds, Ordinance 13128 and Ordinance 14490 (collectively, the "Refunded Bonds Ordinances"), and
WHEREAS, the Bond Ordinance provided that the Bonds be sold as determined by the county's director of finance and business operations (the "Finance Director") in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined that the Bonds be sold [by competitive bid] [by negotiated sale], and
WHEREAS, pursuant to the Bond Ordinance, [the Finance Director has negotiated the sale of the Bonds to _________ (the "Underwriter"), and] a preliminary official statement dated ___________, 2008 (the "Preliminary Official Statement"), has been prepared for the [public] sale of the Bonds[, the official notice of such sale (the "Notice of Sale") has been duly published, and bids have been received in accordance with the Notice of Sale], and
[WHEREAS, after the Finance Director's review and analysis of the bids received, the council, deems it necessary and...

Click here for full text