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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal align=center style='text-align:center'><b><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>TOWN OF RIVERDALE PARK<o:p></o:p></span></b></p><p class=MsoNormal align=center style='text-align:center'><b><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>FAIR SUMMARY OF<o:p></o:p></span></b></p><p class=MsoNormal align=center style='text-align:center'><b><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>ORDINANCE 2013-OR-09<o:p></o:p></span></b></p><p class=MsoNormal align=center style='text-align:center'><b><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>TAX INCREMENT FINANCING BONDS<o:p></o:p></span></b></p><p class=MsoNormal align=center style='text-align:center'><b><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>FOR CALVERT TRACT PROJECT<o:p></o:p></span></b></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify;text-indent:.5in'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>This is to give notice that the Riverdale Park Town Council has introduced and intends to take action on Ordinance 2013-OR-09 (the “Ordinance”). The title of the Ordinance is as follows:<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;text-indent:.5in'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'> An Ordinance concerning authorization of revenue bonds, notes or other similar instruments to be issued to finance costs of infrastructure improvements for the Calvert Tract Project; for the purpose of making certain legislative findings and determinations, among others, concerning the public benefit of the matters contemplated by this Ordinance; authorizing and empowering Town of Riverdale Park (the “Town”) to issue, sell and deliver pursuant to the Tax Increment Financing Act identified herein (the “Act”) its revenue bonds, notes or other similar instruments in one or more series from time to time (the “Bonds”) in an aggregate principal amount not to exceed Four Million Dollars ($4,000,000.00) and bearing interest at (i) a fixed rate or rates not to exceed eight percent (8.0%) per annum or (ii) a variable rate or rates not to exceed seven percent (7.0%) per annum initially and twelve percent (12.0%) per annum at any such time as the applicable variable rate is reset, in order to finance the cost of certain infrastructure improvements in or relating to the Calvert Tract Development District identified herein and other costs or reserves permitted under the Act; providing that the Bonds and the interest thereon shall never constitute a general obligation debt of or a pledge of the Town’s full faith and credit or taxing powers; providing for the further specification, prescription, determination, provision for or approval by the chief executive of the Town (within the meaning of the Act) by executive order of various other matters, details, documents and procedures in connection with the authorization, issuance, security, sale and payment for any such Bonds; providing for certain certifications, representations, designations, elections and determinations with respect to any Bonds issued with the expectation that interest thereon shall be excludable from gross income for federal income tax purposes; providing that the provisions of this Ordinance shall be liberally construed; providing for a sunset date with respect to this Ordinance; providing that the title of this Ordinance constitutes a fair summary hereof but that the Town may publish a fair summary of this Ordinance in any format that meets Charter requirements; and generally providing for the issuance of the Bonds in accordance with the Act.<o:p></o:p></span></p><p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:center;text-indent:0in;line-height:normal'><u><o:p><span style='text-decoration:none'> </span></o:p></u></p><p class=MsoNormal style='text-align:justify;text-indent:.5in'><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>The Ordinance is available for inspection by the public at Town Hall, 5008 Queensbury Road, during normal business hours, 8:30 a.m. to 4:30 p.m., Monday through Friday. The Ordinance may be amended prior to passage. Pursuant to Section 12-204(f) of the Act identified above, the Ordinance is <u>not</u> subject to petition to referendum in accordance with Section 211 of the Charter. <o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:14.0pt;font-family:"Harlow Solid Italic"'>Jessica<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>Jessica E. Barnes<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>Town Clerk<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>Riverdale Park<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>5008 Queensbury Road<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>Riverdale Park, MD 20737<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'><a href="http://www.riverdaleparkmd.info/">www.riverdaleparkmd.info</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Cambria","serif"'>301-927-6381<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>