Drafter
Clerk 11/15/2010
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A MOTION of the county council approving the sale of the county's Limited Tax General Obligation Bonds, 2010, Series C (Federally Taxable Recovery Zone Economic Development Bonds), in the aggregate principal amount of $23,165,000 and the terms and conditions thereof, as set forth in a bond purchase contract therefor, approving and authorizing the execution of such bond purchase contract, all in accordance with Ordinance 16920.
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WHEREAS, pursuant to Ordinance 16920 (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 $117,000,000 to provide long-term financing for the capital costs of the Atlantic/Central Base Operations Building Project, the Camera Recording System Project, the Data Center Relocation and Contingency Projects, the Data Center Specifications Project, the Earlington HVAC and Roof Energy Project, the IRIS/TESS Replacement Project, the IT Reorganization Project, the Major Maintenance Reserve Fund Projects, the McKinstry Essention Contract Energy Efficiencies Project, the Northeast Novelty Hill Road Project and the North Base HVAC Replacement Project, each defined and described in the Ordinance, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations, BABs, RZEDBs, QECBs or other Taxable Obligations in one or more series, any of which may be sold in a combined offering with other bonds of the county, publicly, 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 such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2010, Series C (Federally Taxable Recovery Zone Economic Development Bonds), in the aggregate principal amount of $23,165,000 (the "2010C Bonds"), be sol...
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