Agenda Item 12
Faden, Senior Legislative Attorney
Expedited Bill 56-10, Bond Authorization
Resolution to consolidate previously authorized notes for sale and issuance as a
Expedited Bill 56-10, Bond Authorization, along with the implementing resolution, both
sponsored by the Council President at the request of the County Executive, were introduced on
November 23,2010. Action is scheduled immediately after this hearing.
Every year, the Executive sends to the Council related items for approval after the
Council approves the Capital Improvements Program in May.
• This Bill increases the amount of bonds the County is authorized to sell by $721.3
million, the additional amount needed to fund the capital projects the Council
approved this year which are funded by County bonds.
• The resolution (Item 4H) will increase the amount of bond anticipation notes the
County is authorized to sell by $721.3 million, the additional amount needed to
fund the capital projects the Council approved this year which are funded by
County bonds. Bond anticipation notes are sold as needed to fund capital projects
and then are repaid when the County sells bonds, usually once a year. Bond
anticipation notes are sold in anticipation of being repaid by a later bond issue.
This packet contains
Expedited Bill 56-10
Legislative Request Report
Bond Anticipation Resolution
Memo from County Executive
F:\LAW\BILLS\1056 Bond Authorization\Public Hearing-Action.Doc