Drafter
Clerk 7/30/2007
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, 2007 Series A, in the aggregate principal amount of $48,665,000, and the county's Limited Tax General Obligation Refunding Bonds (Taxable), 2007 Series B, in the aggregate principal amount of $5,900,000, and establishing certain terms of such bonds and the plan of refunding.
Body
WHEREAS, pursuant to Ordinance 15781 (the "Bond Ordinance"), the county council authorized the issuance of one or more series of its taxable limited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $7,000,000 to refund all or a portion of the county's Limited Tax General Obligation Bonds (Taxable), 1997 Series E, and one or more series of its limited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $54,000,000 to refund all or a portion of the county's Limited Tax General Obligation Refunding Bonds, 1997 Series F, 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, 2007 Series A (the "Tax-Exempt Bonds"), be sold by negotiated sale as provided herein, 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 (Taxable), 2007 Series B (the "Taxable Bonds"), be sold by negotiated sale as provided herein, and
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