File #: 2003-0399    Version:
Type: Motion Status: Passed
File created: 9/2/2003 In control: Budget and Fiscal Management Committee
On agenda: 10/20/2003 Final action: 10/20/2003
Enactment date: Enactment #: 11823
Title: A MOTION of the county council accepting a bond purchase contract for the purchase of a combined offering consisting of the county's Limited Tax General Obligation Bonds, 2003, Series A in the aggregate principal amount of $27,605,000, and the county's Limited Tax General Obligation and Refunding Bonds, 2003, Series B in the aggregate principal amount of $40,435,000, and establishing certain terms of such bonds and a plan of refunding.
Sponsors: Larry Phillips
Indexes: Bonds, Finance, Taxes
Attachments: 1. Motion 11823.pdf, 2. 0399 Staff Report 9-24-03.doc, 3. 2003-0399 Staff Report 9-10-03.doc, 4. 2003-0399 Transmittal Letter.doc, 5. A. [Attach here a copy of the Bond Purchase Contract], 6. A. Exhibit A-Bond Purchase Contract
Drafter
Clerk 10/20/2003
Title
A MOTION of the county council accepting a bond purchase contract for the purchase of a combined offering consisting of the county's Limited Tax General Obligation Bonds, 2003, Series A in the aggregate principal amount of $27,605,000, and the county's Limited Tax General Obligation and Refunding Bonds, 2003, Series B in the aggregate principal amount of $40,435,000, and establishing certain terms of such bonds and a plan of refunding.
Body
PREAMBLE:
Pursuant to Ordinance 14167, the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $125,000,000 to provide long-term financing for the Courthouse Seismic Project, the North Rehabilitation Facility Project and the Regional Communications and Emergency Control Center Project, each defined and described in Ordinance 14167, and further authorized the issuance and public sale of one or more series of its limited tax general obligation bond anticipation notes in an outstanding aggregate principal amount not to exceed $125,000,000 to provide interim financing for such projects pending the issuance of the bonds.

Pursuant to Ordinance 14463, the county council amended Ordinance 14167 to revise the description of the North Rehabilitation Facility Project and to augment the projects authorized to be financed, on a long-term basis, by such bonds, and pending the sale of such bonds, on an interim basis, by such bond anticipation notes by the addition of the Courthouse Earthquake Repairs, all as defined and described in Ordinance 14463.

Pursuant to Ordinance 14745, the county council amended Ordinance 14167, as previously amended by Ordinance 14463, to add the Integrated Security and Jail Health Remodel Project to the list of projects that are authorized to be financed, on a long-term basis, by such bonds, and pending the sale of such bonds, on an interim basis, by such bo...

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