6.Introduction and First Public Hearing on Ordinance No. 2023- Mayor and City Council of Laurel, Maryland Infrastructure Bonds, 2024 Series AA- An Ordinance of the Mayor and City Council of Laurel, a Municipal Corporation of the State of Maryland (The “Issuer”), Providing for the Issuance and Sale of an Aggregate Principal Amount not to Exceed Eight Million Four Hundred Thousand Dollars ($8,400,000) of Bonds of Mayor and City Council of Laurel, Maryland, to be Known as “Mayor and City Council of Laurel, Infrastructure Bonds, 2024 Series A” (or by Such Other or Additional Designations as Required by the Community Development Administration Identified Herein) (the “Bonds”), to be Issued and Sold Pursuant to the Authority of Sections 4-101 through 4 255 of the Housing and Community Development Article of the Annotated Code of Maryland, as Amended, for the Purpose of (I) Providing all or a Portion of the Funds Necessary for Financing and/or Refinancing the Following Projects: Facility Improvements, Fleet Equipment Acquisition and Street Improvements, (Ii) Funding a Portion of a Capital Reserve Fund and/or Other Reserves, and (Iii) Paying Issuance and Other Costs Related to the Bonds; Providing that the Bonds Shall be Issued Upon the Full Faith and Credit of the Issuer; Providing for the Disbursement of the Proceeds of the Sale of the Bonds and for the Levy of Annual Taxes Upon all Assessable Property Within the Corporate Limits of the Issuer for the Payment of the Principal of and Interest on the Bonds as they Shall Respectively Mature; Providing for the Form, Tenor, Denomination, Maturity Date or Dates and Other Provisions of the Bonds; Providing for the Sale of the Bonds; and Providing for Related Purposes, Including (Without Limitation) the Method of Fixing the Interest Rate or Rates to be Borne by the Bonds, the Approval, Execution and Delivery of Documents, Agreements, Certificates and Instruments and the Making of or Providing for the Making of Representations and Covenants Concerning the Tax Status of Interest on the Bonds.
