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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, 2011, Series D, in the aggregate principal amount of $21,895,000, and establishing certain terms of such bonds in accordance with Ordinance 17175.
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WHEREAS, pursuant to Ordinance 17175 (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 $47,000,000 to provide long-term financing for all or part of the capital costs of the Barton Pump Station Upgrade Project, the East Precinct Command Center Project, the KCCF Water Pipe Replacement Project, the Maury Island Park Project and the Telephony System Project, all as defined and described in the Ordinance, 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, 2011, Series D, in the aggregate principal amount of $21,895,000 (the "Bonds"), shall be sold to provide long-term financing for all or part of the capital costs of the KCCF Water Pipe Replacement Project and the Maury Island Park Project as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding, and
WHEREAS, a preliminary official statement dated December 1, 2011, has been prepared for the public sale of the Bonds, the official notice of such sale dated December 1, 2011 (the "Notice"), has been duly published, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of Robe...
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