AGENDA ITEMS 9
October 10, 2014
Sesker, Senior Legislative Analyst
Resolution to consolidate previously authorized notes for
sale and issuance asa single issue; Expedited Bi1l47-14, Bond Authorization
Expedited Bill 47-14, Bond Authorization and implementing resolution, sponsored by the
Council President at the request of the County Executive, were introduced on October 7,2014.
47-14 along with Item 10, the implementing resolution, is scheduled for action after the hearing.
The Council President, at the request of the County Executive, has sponsored two items (one
bill and one resolution) to be considered concurrently. The bill and the resolution together would
authorize the County to issue debt and to consolidate that debt with other debt already authorized so
that the bonds can be sold as a single issue.
1) Expedited Bill 47-14 (Item 9) increases the County bond authorization by $388.1 million, the
amount needed to fund the capital projects the Council approved this year and fully implement
the Council's approved CIP.
2) Resolution (Item 10) will authorize the County to borrow money in an aggregate amount of
$388.1 million for the purposes of financing the cost of certain public facilities.
This packet contains
Expedited Bill 47-14
Legislative Request Report
Bond Consolidation Resolution
Memo from County Executive
f:\sesker\project files\bonds\2014 bond authorization and consolidation\ph-action memo.doc