Title
A MOTION of the county council accepting a bond purchase contract for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2006, in the aggregate principal amount of $46,325,000, and establishing certain terms of such bonds and the plan of refunding.
Body
WHEREAS, pursuant to Ordinance 15386 (the "Bond Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $60,000,000 to refund all or a portion of the county's Limited Tax General Obligation 501(c)(3) Refunding Bonds 1996 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1997 Series G and Limited Tax General Obligation and Refunding Bonds (Various Purpose) 1999, Series A, and
WHEREAS, the Bond Ordinance provided that such bonds may be publicly sold in one or more series, any of which may be sold in a combined offering with other bonds of the county, either by negotiated sale or by competitive bid, as determined by the Finance Director in consultation with the county's financial advisor, and
WHEREAS, the Finance Director has determined that a series of the bonds authorized pursuant to the Bond Ordinance, to be designated as the county's Limited Tax General Obligation Refunding Bonds, (the "Bonds") be sold by negotiated sale as provided herein, and
WHEREAS, none of the bonds authorized by the Bond Ordinance are currently outstanding, and
WHEREAS, pursuant to the Bond Ordinance, the Finance Director has negotiated the sale of the Bonds as a combined offering to Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Representative"), acting on behalf of itself, A.G. Edwards & Sons, Inc. and Siebert Brandford Shank & Co., L.L.C. (collectively, the "Underwriters"), and a preliminary official statement dated November 29, 2006, has been prepared for the sale of the Bonds, and
WHEREAS, it is in the best interest ...

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