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:
General Discussion
