AGENDA ITEMS 6, 7
October 27, 2015
Jacob Sesker, Senior Legislative Analyst
Public Hearing/Action: Resolution to consolidate previously authorized notes for
sale and issuance as a single issue; Expedited Bill 42-15, Bond Authorization
Expedited Bill 42-15, Bond Authorization and implementing resolution, sponsored by Lead
Sponsor Council President at the request of the County Executive, were introduced on October 20,
2015. Bill 42-15 along with Item 8, the implementing resolution, is scheduled for action after the
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.
I) Expedited Bill 42-15 (Item 4A) increases the County bond authorization by $563.1 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 8) will authorize the County to borrow money in an aggregate amount of $563.1
million for the purposes of financing the cost of certain public facilities.
This packet contains
Expedited Bill 42-15
Legislative Request Report
Bond Consolidation Resolution
Memo from County Executive
F:\LAw\BILLS\1542 Bond Authorization\Public Hearing-Action Memo.Docx