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A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2010, Series A, in the aggregate principal amount of $26,555,000, and establishing certain terms of such bonds and the plan of refunding, all in accordance with Ordinance 15780.
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WHEREAS, pursuant to Ordinance 15780 (the "LTGO 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 $75,000,000 to refund all or a portion of the county's Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, Limited Tax General Obligation Bonds (Various Purpose), 2001, Limited Tax General Obligation Bonds (Various Purpose), 2002, Limited Tax General Obligation Bonds, 2003, Series A and Limited Tax General Obligation and Refunding Bonds, 2003, Series B, and
WHEREAS, the LTGO 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 advisors, and
WHEREAS, the Finance Director has determined that a series of the bonds authorized pursuant to the LTGO Bond Ordinance, to be designated as the county's Limited Tax General Obligation Refunding Bonds, 2010, Series A (the "LTGO Bonds") be sold by competitive bid as provided herein, and
WHEREAS, $16,975,000 of the bonds authorized by the LTGO Bond Ordinance are currently outstanding. The aggregate principal amount of all such bonds (including the LTGO Bonds) to be outstanding on the date of issuance of the LTGO Bonds, computed as provided in the LTGO Bond Ordinance, will be $43,530,000, which amount does not exceed $75,...
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