* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: The Council President
At the request of: The Administration (Bureau of Treasury Management)
A BILL ENTITLED
AN ORDINANCE concerning
title
Revenue Obligations - Water Projects - Maximum Aggregate Principal Amount
FOR the purpose of increasing the maximum aggregate principal amount of revenue obligations that may be issued by the City under Ordinance 02-331, as last amended by Ordinance 11-429; and providing for a special effective date.
body
BY repealing and reordaining, with amendments
Ordinance 02-331, as last amended by Ordinance 11-429
Section 2(a)
BY authority of
Article II - General Powers
Section (50)
Baltimore City Charter
and
Article 31 - Debt - Public
Section 12
Annotated Code of Maryland
Recitals
Ordinance 02-331 authorizes the City to issue from time to time its revenue obligations to finance water facilities within the geographical limits of the City’s water system. The maximum aggregate principal amount of revenue obligations authorized to be issued under Ordinance 02-331, as last amended by Ordinance 11429, is $1,017,000,000.
Certain recent events have occurred that affect the aggregate principal amount of revenue obligations that may be required to finance water facilities, including(without limitation) an increase in the number of water facilities that the City may desire to finance with the proceeds of the sale of revenue obligations.
Accordingly, the City desires to increase to $2,152,000,000 the aggregate principal amount of t...
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