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:
Legislative History
7/14/25
7/14/25
7/14/25
7/28/25
9/3/25
City Council
adopt on first reader
City Council
refer to the Finance Committee
refer to the Financial Advisory Commission
declare the public hearing closed
recommend favorably
City Council
City Council
Finance Committee
