Drafter
Clerk 01/19/2022
title
A MOTION of the county council approving the issuance of the county's Sewer Revenue Refunding Bonds, 2021, Series A (Taxable), in the aggregate principal amount of $231,200,000; Limited Tax General Obligation and Refunding Bonds (Payable from Sewer Revenues), 2021, Series A, in the aggregate principal amount of $239,585,000; and Limited Tax General Obligation Refunding Bonds (Payable from Sewer Revenues), 2021, Series B (Taxable), in the aggregate principal amount of $94,510,000; and establishing certain terms of such bonds, all in accordance with Ordinance 19112, as amended by Ordinance 19216; and rescinding Motion 15913.
Body
WHEREAS, pursuant to Ordinance 19112 adopted on June 23, 2020, as amended by Ordinance 19216, adopted on December 8, 2020 ("the Ordinance"), the county council authorized the issuance of sewer revenue bonds and limited tax general obligation bonds (payable from sewer revenues) in an aggregate principal amount not to exceed $825,000,000 to provide funds for acquiring and constructing improvements to the sewer system, and in addition authorized the issuance of sewer revenue bonds and limited tax general obligation bonds (payable from sewer revenues) for the purpose of refunding outstanding obligations of the county payable from sewer revenues, and
WHEREAS, the Ordinance provides that such bonds may be publicly sold in one or more series, as Parity Bonds or Parity Lien Obligations, as Tax-Exempt Obligations or otherwise, by negotiated sale, competitive bid or to the federal government or another purchaser, as determined by the Finance Director in consultation with the county's financial advisor, and
WHEREAS, the Finance Director has determined that three series of bonds authorized pursuant to the Ordinance, designated as the county's Sewer Revenue Refunding Bonds, 2021, Series A (Taxable) ("the 2021A Sewer Bonds"), in the aggregate principal amount of $231,200,000; Limited Tax General Obligation and Refun...

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