City of Annapolis - File #: CA-1-15

• File #: CA-1-15
• Version: 1
• Type: Charter Amendment
• Status: Adopted
• File created: 9/9/2015
• In control: Rules & City Government Committee
• On agenda: 10/12/2015
• Final action: 10/12/2015
• Title: Issuance of Revenue Bonds - For the purpose of authorizing and providing for the issuance of revenue bonds by the City of Annapolis.
• Sponsors: Michael J. Pantelides, Joe Budge
• Indexes: Finance Committee, Financial Advisory Commission, Rules and City Government Committee

Date	Ver.	Action By	Action	Result
10/12/2015	1	City Council	adopt on second reader	Pass
10/12/2015	1	City Council	amendment(s) approved	Pass
10/12/2015	1	City Council	adopt on third reader	Pass
10/8/2015	1	Finance Committee	recommend favorably	Pass
10/8/2015	1	Rules & City Government Committee	recommend favorably	Pass
9/28/2015	1	City Council	declare the public hearing closed
9/21/2015	1	City Council	adopt on first reader	Pass
9/21/2015	1	City Council	refer
9/21/2015	1	City Council	refer
9/21/2015	1	City Council	refer

Title
Issuance of Revenue Bonds - For the purpose of authorizing and providing for the issuance of revenue bonds by the City of Annapolis.
Body

CITY COUNCIL OF THE
City of Annapolis

Charter Amendment 1-15

Introduced by: Mayor Pantelides
Co-sponsored by Alderman Budge


Referred to:
Finance Committee
Rules and City Government Committee
Financial Advisory Commission


Issuance of Revenue Bonds

FOR the purpose of authorizing and providing for the issuance of revenue bonds
by the City of Annapolis.

BY adding the following section to the Charter of the City of Annapolis, 2014 Edition:
Article VII, Section 12.

SECTION I: BE IT RESOLVED BY THE ANNAPOLIS CITY COUNCIL that the Charter of the City of Annapolis shall be amended to include a new section in Article VII to read as follows:

"SECTION 12. REVENUE BONDS.

(A) IN ADDITION TO ANY OTHER AUTHORITY CONFERRED BY APPLICABLE LAW, THE CITY SHALL HAVE THE POWER TO BORROW MONEY TO FINANCE OR REFINANCE UNDERTAKINGS FOR THE ACCOMPLISHMENT OF ANY OF THE PURPOSES, OBJECTS AND POWERS OF THE CITY AND, IN CONNECTION THEREWITH, TO ISSUE REVENUE BONDS (WHICH TERM SHALL INCLUDE, WITHOUT LIMITATION, NOTES OR OTHER EVIDENCES OF INDEBTEDNESS AND REFUNDING BONDS), WHICH SHALL BE FULLY NEGOTIABLE AND SHALL BE PAYABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY FROM, AND SECURED SOLELY BY, A PLEDGE OF: (1) THE REVENUES FROM OR ARISING IN CONNECTION WITH THE CAPITAL PROJECT OR PROJECTS, PROPERTIES, FACILITIES OR OTHER DEVELOPMENTS AND IMPROVEMENTS WHOSE FINANCING OR REFINANCING IS UNDERTAKEN BY ISSUANCE OF SUCH REVENUE BONDS; (2) THE REVENUES FROM OR ARISING IN CONNECTION WITH ANY CONTRACTS, AGREEMENTS, MORTGAGES, INSTRUMENTS, DOCUMENTS OR SECURITIES PURCHASED OR OTHERWISE ACQUIRED WITH SUCH REVENUE BONDS OR THE PROCEEDS THEREOF; (3) THE CONTRACTS, AGREEMENTS, MORTGAGES, INSTRUMENTS, DOCUMENTS OR SECURITIES PURCHASED OR OTHERWISE ACQUIRED WITH SUCH REVENUE BONDS OR THE PROCEEDS THEREOF; (4) A...