Issuance of General Obligation Bonds and Bond Anticipation
Notes
For the purpose of authorizing and empowering the City of Annapolis (the
“City”) to issue and sell, upon its full faith and credit, (i) one or more series of its
general obligation bonds in the aggregate principal amount not to exceed
$73,561,499 (the “Bonds”), pursuant to Sections 19-301 through 19-309,
inclusive, of the Local Government Article of the Annotated Code of Maryland,
as amended, and Article VII, Section 11 of the Charter of the City of Annapolis,
as amended (the “Charter”), (ii) one or more series of its general obligation bond
anticipation notes in anticipation of the issuance of the Bonds in the maximum
aggregate principal amount equal to the maximum aggregate principal amount of
the Bonds (the “Notes”), pursuant to Sections 19-211 through 19-221,
inclusive, of the Local Government Article of the Annotated Code of Maryland,
as amended, and the Charter and (iii) one or more series of its general obligation
bonds to refund specified bonds previously issued by the City in the aggregate
principal amount not to exceed 120% of the principal amount of bonds to be
refunded (the “Refunding Bonds”), pursuant to Section 19-207 and Sections
19-301 through 19-309, inclusive, of the Local Government Article of the
Annotated Code of Maryland, as amended, and the Charter; providing that the
Bonds, Notes and Refunding Bonds shall be issued and sold for the public
purpose of financing and refinancing certain capital projects of the City as
provided in this Ordinance; prescribing the form and tenor of the Bonds, Notes
and Refunding Bonds; providing for the method of sale of the Bonds, Notes and
Refunding Bonds and other matters relating to the issuance and sale thereof;
providing for the disbursement of the proceeds of the Bonds, Notes and
Refunding Bonds; covenanting to levy and collect all taxes necessary to provide
for the payment of the principal of and interest on the Bonds, Notes and
Refunding Bonds; and generally providing for and determining various matters
relating to the issuance, sale and delivery of the Bonds, Notes and Refunding
Bonds.
Sponsors:
Buckley
Attachments:
