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Bill 6-18

AN ORDINANCE concerning: the issuance, sale and delivery of special obligation refunding bonds in an aggregate principal amount not to exceed $30,000,000 in one or more series to be secured by taxes levied on the tax increment on property

Legislative Day 5
Introduced by Mr. Peroutka, Chairman
FOR the purpose of authorizing the issuance, sale and delivery by Anne Arundel County, Maryland (the “County”) of special obligation refunding bonds pursuant to Section 19-207 of the Local Government Article of the Annotated Code of Maryland (2013 Replacement Volume and 2017 Supplement) (the “Refunding Act”), Sections 12-201 through 12-213 of the Economic Development Article of the Annotated Code of Maryland (2008 Volume and 2017 Supplement) (the “Tax Increment Act”), and Subtitle 5 of Title 21 of the Local Government Article of the Annotated Code of Maryland (2013 Replacement Volume and 2017 Supplement) and Sections 4-8-101 through 4-8-106 of the Anne Arundel County Code, as amended (together, the “Special Taxing District Act”) in an aggregate principal amount not to exceed $30,000,000 in one or more series to refund all or a portion of the outstanding Anne Arundel County, Maryland Special Obligation Bonds (National Business Park - North Project), Series 2010 dated August 10, 2010 (the “2010 Bonds”) in order to achieve debt service savings for the County in each year on a direct comparison basis and to reduce the amortization period for the bonds; etc.
Introduced: 2/5/2018
Passed: 3/5/2018