Drafter
Clerk 09/07/2017
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A MOTION ratifying the issuance and sale of the county's Multi-Modal Limited Tax General Obligation Refunding Bonds (Payable from Sewer Revenue), Series 2017A and Series 2017B, in the aggregate principal amount of $100,000,000, authorizing the execution and delivery of a continuing covenant agreement in connection therewith and establishing certain terms of those bonds, all in accordance with Ordinance _____.
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WHEREAS, pursuant to Ordinance _____, adopted by the council on __________, 2017 ("the Bond Ordinance"), the council authorized the issuance of its multi-modal limited tax general obligation refunding bonds (payable from sewer revenue), in the aggregate principal amount of $100,000,000 ("the Bonds"), to refund the Multi-Modal Limited Tax General Obligation Bonds (Payable from Sewer Revenue), Series 2010A and Series 2010B ("the Refunded Bonds"), of the county, and
WHEREAS, the Bond Ordinance authorizes the sale of the Bonds in one or more series, as Tax-Exempt Bonds or otherwise, and by negotiated sale or competitive bid, as determined by the director of the finance and business operations division of the department of executive services of the county ("the Finance Director"), in consultation with the financial advisor of the county, and
WHEREAS, the Finance Director has determined that $100,000,000 principal amount of Bonds be sold by negotiated sale in two series, to be designated as the county's Multi-Modal Limited Tax General Obligation Refunding Bonds (Payable from Sewer Revenue), Series 2017A, and Multi-Modal Limited Tax General Obligation Refunding Bonds (Payable from Sewer Revenue), Series 2017B, each structured as Tax-Exempt Bonds, and
WHEREAS, the Finance Director has determined that the Bonds be sold to State Street Public Lending Corporation pursuant to a continuing covenant agreement substantially in the form attached as Attachment A to this motion, and
WHEREAS, in accordance with the Bond Ordinance, t...

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