Posted on January 09, 19103 at 10:05:35:
SPECIAL NOTICE
PUBLIC HEARING ON PROPOSED ISSUANCE OF CITY OF
TAKOMA PARK INFRASTRUCTURE BONDS 2003 SERIES A
Monday, January 13, 2003 - 7:30 p.m.
Municipal Building Council Chambers
EXPLANATION OF PUBLIC HEARING
In the Fall, the City Council began discussions of a proposal for long-term financing to afford
street repairs and improvements. An article, describing the proposal was published in the
October issue of the Takoma Park Newsletter. Several Council Worksession discussions and a
Public Hearing on the concept have been held.
The Council is now at the point of having to make a decision about whether to proceed with the
bond issuance in the upcoming 2003 State Infrastructure Loan Program cycle. In order to meet
legal requirements and application deadlines, the Council is required to conduct a public hearing
14 days prior to final action which would need to occur on February 3, 2003, if the Council
decides to go forward with the bonds.
The following legal notice is provided:
CITY OF TAKOMA PARK
PUBLIC HEARING NOTICE RE PROPOSED ISSUANCE OF
CITY OF TAKOMA PARK INFRASTRUCTURE BONDS 2003 SERIES A
Pursuant to Annotated Code of Maryland, Article 83B, Section 2-204(16)(iv), the City of
Takoma Park will hold a public hearing on the proposed issuance of City of Takoma Park
Infrastructure Bonds 2003 Series A in connection with a loan to be made by the Community
Development Administration under its Infrastructure Loan Program. The proposed Ordinance
approves the issuance by the Council of the City of Takoma Park of up to $4,600,000.00 in
general obligation bonds for the following purposes: to fund the performance of street
improvements throughout the City and to pay the costs of the bond issuance and other related
costs.
NOTICE IS HEREBY GIVEN that the Council of the City of Takoma Park will hold a
public hearing on Monday January 13, 2003, at 7:30 p.m., at the Municipal Center, 7500 Maple
Avenue, Takoma Park, MD 20912. All interested persons should attend the public hearing.
Written comments also may be sent to Attn: City Clerk, City of Takoma Park, 7500 Maple
Avenue, Takoma Park, MD 20912.