Updated: 11:09 am.
Dauphin County Commissioners approve Ordinance #7-2013.
The Commissioners voted to approve $170 million in Revenue Bonds related the Harrisburg Strong Plan.
The introduction, discussion, and vote took less than 90 seconds.
Commissioner Jeff Haste. We are not quite finished with due diligence.
Question to Jeff Haste: Wanda Williams say's she feels rushed, cancelled last night's city council meeting. Are you concerned that council could hold up the deal?
Jeff Haste. Best to ask the General that.
Dauphin County Commissioners meeting starts at 10 am today.
Last week the commissioners tabled a vote related to the Series B 2013 and Series C 2013 Revenue Bonds.
The items are back on the today's agenda.
A. Ordinance #7-2013 authorizing lease rental debt in the form of guarantees of the Pennsylvania Economic Development Financing Authority’s Subordinate Guaranteed Parking Revenue Bonds (Capitol Region Parking Project) Series B of 2013 in a principal amount not to exceed $99,000,000 and its Subordinate Insured/Guaranteed Parking Revenue Bonds (Capitol Region Parking Project) Series C of 2013 in a principal amount not to exceed $71,000,000. (***A Vote is Requested 10/30/13***)
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:
Photo/Natalie Cake