File #: 2025-0137    Version: 1
Type: Ordinance Status: To Be Introduced
File created: 5/13/2025 In control: Budget and Fiscal Management Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: AN ORDINANCE authorizing the issuance and sale of one or more series of junior lien sewer revenue bonds and multi-modal limited tax general obligation bonds (payable from sewer revenues) of the county in an aggregate principal amount not to exceed $1,200,000,000 to provide funds for acquiring and constructing improvements to the sewer system and to pay the costs of issuing such bonds; authorizing the issuance and sale of one or more series of junior lien sewer revenue refunding bonds and multi-modal limited tax general obligation refunding bonds (payable from sewer revenues) of the county to refund outstanding obligations of the county payable from sewer revenues and to pay the costs of issuing such refunding bonds; reauthorizing the county's existing commercial paper notes issued for sewer system purposes, in the aggregate principal amount not to exceed $250,000,000 outstanding at any time; pledging sewer revenues to pay the principal of and interest on junior lien sewer revenue bonds...
Sponsors: Rod Dembowski
Indexes: Bonds, Sewer
Attachments: 1. A. Outstanding Obligations, 2. B. Form of Junior Lien Obligation, 3. C. Form of Multi-Modal Limited Tax General Obligation-Sewer Revenue Bond, 4. 2025-0137 transmittal letter, 5. 2025-0137 Fiscal Note, 6. 2025-0137 Legislative Review Form
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Drafter
Clerk 05/01/2025
Title
AN ORDINANCE authorizing the issuance and sale of one or more series of junior lien sewer revenue bonds and multi-modal limited tax general obligation bonds (payable from sewer revenues) of the county in an aggregate principal amount not to exceed $1,200,000,000 to provide funds for acquiring and constructing improvements to the sewer system and to pay the costs of issuing such bonds; authorizing the issuance and sale of one or more series of junior lien sewer revenue refunding bonds and multi-modal limited tax general obligation refunding bonds (payable from sewer revenues) of the county to refund outstanding obligations of the county payable from sewer revenues and to pay the costs of issuing such refunding bonds; reauthorizing the county's existing commercial paper notes issued for sewer system purposes, in the aggregate principal amount not to exceed $250,000,000 outstanding at any time; pledging sewer revenues to pay the principal of and interest on junior lien sewer revenue bonds issued under this ordinance; pledging the annual levy of taxes and an additional pledge of sewer revenues to pay the principal of and interest on multi-modal limited tax general obligation bonds (payable from sewer revenues) issued under this ordinance; delegating authority to the county's Finance Director to approve the issuance and sale of junior lien sewer revenue bonds and multi-modal limited tax general obligation bonds (payable from sewer revenues) within specified parameters, to remarket and authorize the conversion of the interest rate mode of the bonds, to select one or more remarketing agents and/or commercial paper dealers and enter into, amend, extend or replace mode agreements, dealer agreements, credit enhancements, liquidity facilities, and related documents, as applicable; providing for the form, terms and covenants of the bonds issued under this ordinance; and provided for other matters relating thereto.
Body
PREAMBLE:
The county o...

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