Drafter
Clerk 04/16/2012
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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 B (Federally Tax-Exempt), in the aggregate principal amount of $28,065,000, and establishing certain terms of such bonds in accordance with Ordinance 16865.
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WHEREAS, pursuant to Ordinance 16865 (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 $31,000,000 to provide long-term financing for the South Park Bridge Replacement Project, as defined and described in the Ordinance, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations, BABs, RZEDBs or other Taxable Obligations, and 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 B (Federally Tax-Exempt), in the aggregate principal amount of $28,065,000 (the "Bonds"), shall be issued as Tax-Exempt Obligations and sold to provide long-term financing for the South Park Bridge Replacement Project as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding, and
WHEREAS, a preliminary official statement dated April 5, 2012, has been prepared for the public sale of the Bonds, the official notice of such sale dated April 5, 2012 (the "Notice"), has been distributed, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of Robert W. Baird & Co., Inc., to purchase the Bonds is the best bid received...
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