Drafter
Clerk 3/8/2007
Title
A MOTION of the county council approving a [bid/bond purchase agreement] for the county's Sewer Revenue Bonds, Series 20___, 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 on ____________, 2007 (the "Bond Ordinance"), authorized the issuance and sale of sewer revenue bonds of the county in the aggregate principal amount of not to exceed $250,000,000 to pay costs of certain capital improvements to the county's sewer system (the "System"), in accordance with the county's comprehensive water pollution abatement plan, and
WHEREAS, the Bond Ordinance provided that such bonds be sold in one or more series 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 advisors, and
WHEREAS, the Finance Director has determined that a series of such bonds in the aggregate principal amount of $__________ to be designated as the county's Sewer Revenue Bonds, Series 20__ (the "Bonds"), be sold by [competitive bid/negotiated sale], and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated ________ ___, 20___, has been prepared for the sale of the Bonds, [the Official Notice of Bond Sale (the "Notice") has been published, and bids have been received in accordance with the Notice] [and the Finance Director has negotiated the sale of the Bonds to ______________ (the "Underwriter")], and
WHEREAS, [the attached bid of ___________________ (the "Purchaser") to purchase the Bonds is the best bid received for the Bonds, and] it is in the best interest of the county that the Bonds be sold to the [Purchaser/Underwriter] on the terms set forth in [the Notice, the attached bid/the attached bond purchase contract], the Bond Ordinance, and this m...

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