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Bill 47-20

N ORDINANCE concerning: the issuance, sale and delivery of Anne Arundel County, Maryland general obligation bonds and bond anticipation notes.

Legislative Day 23
Introduced by Ms. Pickard, Chair (by request of the County Executive)
FOR the purpose of authorizing the issuance by Anne Arundel County, Maryland (the “County”) of bond anticipation notes in an amount to be outstanding at any time not in excess of Four Hundred Million Dollars ($400,000,000) and bonds in an amount not exceeding One Billion Thirteen Million Two Hundred Forty-Seven Thousand Three Hundred Dollars ($1,013,247,300) in order to finance in whole or in part the construction of capital projects set forth in the capital budget of the County for the fiscal year ending June 30, 2021, or in such capital budgets for prior fiscal years, or usable portions thereof; authorizing the issuance by the County of refunding bonds to refund some or all of the outstanding bond issues of the County listed on Exhibit II attached hereto and incorporated herein in an aggregate principal amount not to exceed 120% of the aggregate principal amount of the outstanding bonds to be refunded, subject to the requirement that debt service savings shall be achieved in connection with any such refunding; authorizing the County to borrow money and incur indebtedness otherwise authorized to be borrowed and incurred hereunder in the form of bonds or bond anticipation notes by obtaining a loan or loans from the Maryland Water Quality Financing Administration pursuant to and in accordance with Sections 9-1601 through 9- 1622, inclusive, of the Environment Article of the Annotated Code of Maryland (2014 Replacement Volume and 2019 Supplement) for the public purpose of financing a portion of the costs of acquiring, constructing and equipping certain wastewater facilities and water supply systems; providing for the execution and delivery by the County of a loan agreement and bond to evidence any such loan; etc.
Introduced: 6/15/2020
Hearing: 7/6/2020