Dauphin County Commissioners have scheduled for consideration Ordinance No. 7-2013. The financing of $170 million dollars of bonds related to the "Parking Facilities" as part of the Harrisburg Strong Plan.
Here's a copy of the full text of this proposed ordinance. Dauphin County Guarantee for Parking Revenue Bonds.
Legal Ad Published by Patriot-News October 17, 2013:
NOTICE is given that the Board of Commissioners of the County of Dauphin, Pennsylvania (the "County"), will hold a public meeting on October 23, 2013, at 10:00 a.m. in the Commissioners' Hearing Room, Fourth Floor, Dauphin County Administration Building, 2 South 2nd Street, Harrisburg, Pennsylvania, for the purpose of consideration of and action upon an Ordinance (the "Ordinance"), a summary of which is set forth in the following caption:
"Ordinance No. 7-2013
AN ORDINANCE OF THE BOARD OF COMMISSIONERS OF THE COUNTY OF DAUPHIN, PENNSYLVANIA. (THE "COUNTY"), AUTHORIZING AND APPROVING A CERTAIN PROJECT (THE "PROJECT") OF THE PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (THE "AUTHORITY") CONSISTING OF FINANCING A PORTION OF THE COSTS OF THE ACQUISITION BY THE AUTHORITY OF CERTAIN GARAGES, PARKING LOTS AND RELATED FACILITIES AND ASSETS (THE "PARKING FACILITIES") OF THE HARRISBURG PARKING AUTHORITY (THE "HPA") AND THE CITY OF HARRISBURG (THE "CITY"), AND DETERMINING THE REALISTIC ESTIMATED USEFUL LIFE OF THE PROJECT; STATING THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF THE DEBT TO BE INCURRED BY THE AUTHORITY TO BE SECURED BY: i) A COUNTY GUARANTY DESCRIBED HEREIN; STATING THAT THE DEBT IS TO BE INCURRED AS LEASE RENTAL DEBT IN THE MAXIMUM PRINCIPAL AMOUNT OF
NINETY NINE MILLION DOLLARS ($99,000,000)
PURSUANT TO THE PENNSYLVANIA LOCAL GOVERNMENT UNIT DEBT ACT, 53 PA. CONS. STAT. 8001 ET SEQ., AS AMENDED (THE "DEBT ACT") BY GUARANTY OF THE AUTHORITY'S SUBORDINATED GUARANTEED PARKING REVENUE BONDS (CAPITOL REGION PARKING PROJECT) SERIES B OF 2013 IN THE AGGREGATE PRINCIPAL AMOUNT OF $99,000,000 (THE "2013 SERIES B BONDS"); AND ii) A COUNTY GUARANTY DESCRIBED HEREIN; STATING THAT THE DEBT IS TO BE INCURRED AS LEASE RENTAL DEBT PURSUANT TO THE DEBT ACT IN THE MAXIMUM PRINCIPAL AMOUNT OF
SEVENTY ONE MILLION DOLLARS ($71,000,000)
BY GUARANTY OF THE AUTHORITY'S SUBORDINATED GUARANTEED PARKING REVENUE BONDS (CAPITOL REGION PARKING PROJECT) SERIES C OF 2013 IN THE AGGREGATE PRINCIPAL AMOUNT OF $71,000,000 (THE "2013 SERIES C BONDS"); AUTHORIZING AND DIRECTING OFFICERS AND OFFICIALS OF THE COUNTY TO PREPARE AND VERIFY A DEBT STATEMENT REQUIRED BY SECTION 8110 OF THE DEBT ACT AND A BORROWING BASE CERTIFICATE; AND AUTHORIZING AND DIRECTING THE CHIEF CLERK TO FILE A TRANSCRIPT OF PROCEEDINGS REQUIRED BY SECTION 8111 OF THE DEBT ACT, INCLUDING A CERTIFIED COPY OF THIS ORDINANCE AND PROOFS OF PUBLICATION, WITH THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT AND TO CAUSE TO BE PAID ANY NECESSARY FILING FEES; AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF THE GUARANTY AGREEMENTS; STATING THE MAXIMUM ANNUAL AMOUNTS TO BE PAID UNDER THE COUNTY GUARANTY AGREEMENTS, COVENANTING THE PAYMENT THEREOF AND PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THE COUNTY THEREFOR; APPROVING A REPORT RELATING TO THE SELF LIQUIDATING NATURE OF SUCH LEASE RENTAL DEBT OF THE COUNTY; AUTHORIZING AND DIRECTING PROPER OFFICIALS OF THE COUNTY TO PREPARE VERIFY AND FILE THE DEBT STATEMENT, THE APPLICATION FOR EXCLUSION OF SELF LIQUIDATING DEBT AND OTHER APPROPRIATE DOCUMENTS REQUIRED BY THE DEBT ACT; AUTHORIZING THE EXECUTION AND DELIVERY OF REIMBURSEMENT AGREEMENTS BETWEEN THE COUNTY AND THE AUTHORITY AND BETWEEN THE COUNTY AND ASSURED GUARANTY MUNICIPAL CORP. ("AGM"), AS INSURER OF THE AUTHORITY'S 2013 SERIES C BONDS; AUTHORIZING THE OFFICIALS OF THE COUNTY TO TAKE OTHER APPROPRIATE ACTION; REPEALING ALL ORDINANCES INCONSISTENT HEREWITH; PROVIDING FOR SEVERABILITY OF PROVISIONS OF THIS ORDINANCE; AND STATING THE EFFECTIVE DATE. OF THIS ORDINANCE"
The full text of the Ordinance may be examined or inspected by any citizen in the office of the Chief Clerk of the County in the Office of the Chief Clerk, Dauphin County Administration Building, 2 South 2nd Street, Harrisburg, Pennsylvania, on any regular business day between the hours of 9 a.m. and 4 p.m. Amendments may be made to the Ordinance prior to enactment.
This Notice is given in accordance with requirements of and in compliance with Section 8003 of the Local Government Unit Debt Act.
COUNTY OF DAUPHIN,
Additional items to be considered are as follows:
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