Drafter
Clerk 04/02/2010
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A MOTION of the county council approving a [bid/bond purchase agreement] for the county's [Sewer Revenue [and Refunding] Bonds, Series 20___/Limited Tax General Obligation [and Refunding] Bonds (Payable from Sewer Revenue), 20__], in the aggregate principal amount of $___________ and establishing certain terms of such bonds [and a plan of refunding], all in accordance with Ordinance _____.
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WHEREAS, the county council by Ordinance _____ passed on ____________, 2010 (the "Bond Ordinance"), authorized the issuance and sale of bonds of the county payable from sewer revenues, as follows: (i) not to exceed $475,000,000 principal amount of bonds to pay costs of certain capital improvements to the county's sewer system (the "System") in accordance with the county's comprehensive water pollution abatement plan (the "Project Bonds") and (ii) not to exceed $1,000,000,000 principal amount of bonds to refund certain outstanding bonds payable from sewer revenues (the "Refunding Bonds"), and
WHEREAS, the Bond Ordinance authorizes such bonds to be sold in one or more series, as Parity Bonds or Parity Lien Obligations (as such terms are defined in the Bond Ordinance), as Tax-Exempt Bonds, Tax-Benefited Bonds or otherwise, and by negotiated sale or competitive bid, as determined by the county's director of finance and business operations division (the "Finance Director") in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined that $____________ principal amount of Project Bonds (the "Project Portion") [and $__________ principal amount of Refunding Bonds (the "Refunding Portion")] be sold in a series of [Parity Bonds/Parity Lien Obligations] in the aggregate principal amount of $__________ to be designated as the county's [Sewer Revenue [and Refunding] Bonds, Series 20__/Limited Tax General Obligation [and Refunding] Bonds (Payable from Sewer Revenue), 20__] (the "Bonds"), structured as [Tax-Ex...

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