Drafter
Clerk 09/30/2013
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A MOTION of the county council approving a purchase contract for the county's Sewer Revenue and Refunding Bonds, 2013 Series B, in the aggregate principal amount of $74,930,000 and establishing certain terms of the bonds, and approving a plan of refunding from proceeds of the bonds, all in accordance with Ordinance 17599.
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WHEREAS, the county council by Ordinance 17599 passed on June 3, 2013 (the "Bond Ordinance"), authorized the issuance and sale of bonds of the county payable from sewer revenues, as follows: (i) $300,000,000 aggregate principal amount of bonds to pay costs of capital improvements to the county's Sewer System in accordance with the county's comprehensive water pollution abatement plan (the "Project Bonds"), and (ii) not to exceed $950,000,000 aggregate principal amount of bonds to refund certain outstanding bonds of the county payable from sewer revenues (the "Refunding Bonds"), and
WHEREAS, the Bond Ordinance authorizes the sale of these bonds 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 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 advisor, and
WHEREAS, the Finance Director has determined that $49,460,000 principal amount of Project Bonds (the "2013B Project Bonds") and $25,470,000 principal amount of Refunding Bonds (the "2013B Refunding Bonds") be sold by negotiated sale in a series of Parity Bonds, to be designated as the county's Sewer Revenue and Refunding Bonds, 2013 Series B (the "Bonds"), structured as Tax-Exempt Bonds, and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated September 23, 2013, was prepared and distributed for the sale of the Bonds, and the Finance Director has negotiated the sale of the Bon...

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