City of Baltimore Taxation, Finance and Economic Development Committee met May 17.
Here is the minutes provided by the Committee:
Call To Order
Introductions
Attendance
Present 5 - Member Sharon Green Middleton, Member Leon F. Pinkett III, Member Eric T. Costello, Member Edward Reisinger, and Member Robert Stokes Sr.
Items Scheduled For Public Hearing
18-0214 Bond Issue - Recreation, Parks and Public Facilities Loan - $65,000,000
For the purpose of authorizing the Mayor and City Council of Baltimore (pursuant to General Assembly House Resolution I and Senate Resolution III of 2018 approved by the members of the Maryland General Assembly representing Baltimore City) to create a debt, and to issue and sell its certificates of indebtedness as evidence thereof, and proceeds not exceeding $65,000,000 from the sale of such certificates of indebtedness to be used for the cost of issuance, including the expense of engraving, printing, advertising, attorneys’ fees, and all other incidental expenses connected therewith (which may include the proportion of the compensation of employees and general administrative expenses of the Department of Finance reasonably allocated to the issuance of the bonds); for the development of the buildings and facilities owned or controlled by the Mayor and City Council of Baltimore and the Enoch Pratt Free Library, and the development of public park and recreational land, property, buildings, structures or facilities including but not limited to, the acquisition by purchase, lease, condemnation or any other legal means, of land or property, or any rights therein, in the City of Baltimore, and constructing and erecting on said land or property, or on any land or property, new buildings, structures, and auxiliary facilities; and for the renovation, alteration, construction, reconstruction, installation, improvement and repair of existing buildings, structures or facilities, to be or now being used for or in connection with the operations, functions and activities of the Mayor and City Council of Baltimore and the Enoch Pratt Free Library, at public parks and recreation and related property, buildings, structures or facilities; the demolition, removal, relocation, renovation or alteration of land, buildings, streets, highways, alleys, utilities or services, and other structures or improvements, and for the construction, reconstruction, installation, relocation or repair of buildings, streets, highways, alleys, utilities or services, including information technology infrastructure, and other structures or improvements; for the acquisition of trees or for tree planting programs; and for the acquisition and installation of equipment and fixtures for any and all facilities authorized to be constructed, erected, altered, reconstructed, renovated, installed or improved by the provisions hereof; the payment of any and all costs and expenses incurred for or in connection with doing any or all of the things herein mentioned, including but not limited to, the costs and expenses of securing administrative, appraisal, economic analysis, engineering, planning, designing, architectural, surveying and other professional services; and for doing any and all things necessary, proper or expedient in connection with or pertaining to any or all of the matters or things hereinbefore mentioned; authorizing the issuance of refunding bonds; conferring and imposing upon the Board of Finance of Baltimore City certain powers and duties; authorizing the submission of this Ordinance to the legal voters of the City of Baltimore, for their approval or disapproval, at the General Election to be held in Baltimore City on Tuesday, the 6th day of November, 2018; and providing for the expenditure of the proceeds of sale of said certificates of indebtedness in accordance with the provisions of the Charter of the Mayor and City Council of Baltimore, and by the municipal agency designated in the annual Ordinance of Estimates of the Mayor and City Council of Baltimore.
Sponsors:
City Council President (Administration)
A motion was made by Member Pinkett, III, seconded by Member Costello, that bill 18-0214 be recommended favorably. The motion carried by the following vote:
Yes: 5 - Member Middleton, Member Pinkett III, Member Costello, Member Reisinger, and Member Stokes Sr.
Adjournment
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