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A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2012, Series A, in the aggregate principal amount of $65,935,000, and establishing certain terms of such bonds in accordance with Ordinance 16785.
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WHEREAS, pursuant to Ordinance 16785 (the "Ordinance"), 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 $95,000,000 to provide long-term financing for the ABT Project, defined and described in the Ordinance, and further authorized the issuance of one or more series of its limited tax general obligation bond anticipation notes in an outstanding aggregate principal amount not to exceed $95,000,000 to provide interim financing for the ABT Project pending the issuance of the bonds, and
WHEREAS, the Ordinance provided that such bonds may be sold at public sale, either by negotiated sale or by competitive bid, in one or more series 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 county's financial advisors, and
WHEREAS, the Finance Director has determined that a series of such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2012, Series A, in the aggregate principal amount of $65,935,000 (the "Bonds"), shall be sold to provide long-term financing for the ABT Project as provided herein, and
WHEREAS, currently, none of the bonds and $82,295,000 of the bond anticipation notes authorized by the Ordinance are outstanding, all of which will be repaid and retired with proceeds of the Bonds and unexpended proceeds of such bond anticipation notes on the date of issuance of the Bonds, and the aggregate principal amount of all such bonds and bond anticipation notes (including the Bonds) to be outstanding on the date of issuan...

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