[RP Town Announce] Fair Summary of Ordinance 2013-OR-07

[Jessica Barnes]

TOWN OF RIVERDALE PARK

FAIR SUMMARY OF

ORDINANCE 2013-OR-07

 

 

This is to give notice that the Riverdale Park Town Council has introduced and intends to take action on Ordinance 2013-OR-07.

 

Ordinance 2013-OR-07 would provide (1) for the issuance and sale of an aggregate principal amount not to exceed three million five hundred thousand dollars ($3,500,000) of bonds of the Town of Riverdale Park, to be known as “Town of Riverdale Park, Infrastructure Bond, 2013 Series A”, 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 providing all or a portion of the funds necessary for (i) financing and refinancing all or a portion of the cost of the engineering, design, construction and reconstruction of roadway and street improvements within the Town of Riverdale Park; (ii) financing and refinancing all or a portion of the cost of engineering, design, and renovation of the Town Hall; (iii) funding a portion of a capital reserve fund; and (iv) paying issuance and other costs related to the bonds; (2) that the bonds shall be issued upon the full faith and credit of the Town of Riverdale Park; (3) 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 Town of Riverdale Park for the payment of the principal of and interest on the bonds as they shall respectively mature; (4)  for the form, tenor, denomination, maturity date and other provisions of the bonds; (5) for the sale of the bonds; and (6) providing for related purposes, including the method of fixing the interest rate to be borne by the bonds.

 

Ordinance 2013-OR-07 is available for inspection by the public at Town Hall during normal business hours, 8:30 a.m. to 4:30 p.m., Monday through Friday.  

 

            

RIVERDALE PARK TOWN COUNCIL

            

BY: SARA IMHULSE, TOWN ADMINISTRATOR      

 

 

 

 

 

 

Jessica

Jessica E. Barnes

Town Clerk

Riverdale Park

5008 Queensbury Road

Riverdale Park, MD 20737

www.riverdaleparkmd.info <http://www.riverdaleparkmd.info/> 

301-927-6381

 

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