City of Annapolis - File #: CA-1-23

• File #: CA-1-23
• Version: 1
• Type: Charter Amendment
• Status: Adopted
• File created: 1/4/2023
• In control: City Council
• On agenda: 4/10/2023
• Final action: 4/10/2023
• Title: Finances - Third Party Indebtedness and Bonds - For the purpose of allowing the City of Annapolis to issue Third Party bonds; and generally related to City bond authority.
• Sponsors: Gavin Buckley
• Indexes: Finance Committee, Rules and City Government Committee

Date	Ver.	Action By	Action	Result
4/10/2023	1	City Council	adopt on first reader	Pass
4/10/2023	1	City Council	amended	Pass
4/10/2023	1	City Council	adopt as amended	Pass
4/10/2023	1	City Council	adopt on third reader	Pass
3/31/2023	1	Rules & City Government Committee	recommend favorably	Pass
3/23/2023	1	Finance Committee	recommend favorably	Pass
3/13/2023	1	City Council	declare the public hearing closed
2/13/2023	1	City Council	adopt on first reader	Pass
2/13/2023	1	City Council	refer
2/13/2023	1	City Council	refer

Title
Finances - Third Party Indebtedness and Bonds - For the purpose of allowing the City of Annapolis to issue Third Party bonds; and generally related to City bond authority.
Body

CITY COUNCIL OF THE
City of Annapolis
Charter Amendment 1-23

Introduced by: Mayor Buckley
Co-sponsored by:

Referred to
Rules and City Government Committee

AN ORDINANCE concerning

Finances - Third-Party Indebtedness and Bonds

FOR the purpose of allowing the City of Annapolis to issue Third Party bonds; and generally related to City bond authority.

BY adding the following section to the Charter of the City of Annapolis, 2022 Edition:
Article VII, Section 13.

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:

THE CHARTER
Article VII - FINANCES
Section 13 - Third-party indebtedness and bonds

A. Form of approval. Unless otherwise provided by law, the issuance of revenue or private activity bonds by the City on behalf of a third party that does not constitute in any manner an indebtedness of the City or a charge against the general credit or taxing powers of the City shall be approved by a resolution introduced by request of the Mayor and adopted by the City Council.
B. Agreements requiring approval by City Council.
1. Prohibition. Except as provided in this section, the City may not pledge its credit, commit its taxing power, obligate the City in any manner for the payment of bonded or other debt, or make a commitment for future payment of City funds in any agreement relating to or arising from:
a. The issuance of economic development revenue bonds, industrial revenue bonds, and other private activity bonds by the City on behalf of private entities;
b. The issuance of bonds by the Maryland Economic Development Corporation, the Maryland Industrial Development Financing Authority, or similar entities...