office of the county administrator AWS
OFFICE OF THE COUNTY ADMINISTRATOR__ 1 Public Square, Room 210 Darlington, SC 29532
www.darcosc.com
(843) 398-4100 Phone (843) 393-8539 Fax [email protected] Email
AGENDA ITEM Council Meeting Date: April 11, 2016
(Attach relevant documentation) Agenda Item No:
(Clerk to Council will insert)
Issue under Consideration:
Ordinance No. 1532 Ordinance Providing For The Issuance And Sale Of A Not Exceeding Three Million Five Hundred Thousand Dollar ($3,500,000) General Obligation Bond Of Darlington County, South Carolina, To Prescribe The Purposes For Which The Proceeds Shall Be Expended, To Provide For The Payment Thereof, And Other Matters Relating Thereto At its meeting of December 7, 2015, County Council authorized the staff/bond attorney to move forward with the bond ordinance which will include a provision that although the bond is being authorized, the bond would not be issued until subsequent approval by County Council by resolution.
Current Status:
On January 5, 2016, Council approved 2nd reading of Ordinance No. 1532 and approved the Work Authorization For Professional Services Agreement with Michael Baker International for a Solid Waste Management Plan and Feasibility Analysis Report. On February 1, 2016, Council placed this ordinance on the Pending List until the study (landfill study performed by Michael Baker International) is completed. During the Special Meeting on April 11, 2016, Michael Baker International will present the Solid Waste Feasibility Study for Council’s consideration. Proceeds will be used for improvements at the County Landfill.
Points to Consider:
Section 3.17 on page 7 of the Ordinance states, “…the Bond shall only be issued upon the approval of County Council in a resolution of the County Council (the “Resolution”) subsequent to the effective date of this Ordinance…” Section 3.14 provides that the annual levy of taxes will be reduced to the extent that annual monies are paid into the Debt Service Fund from the Environmental Services Fund.
OFFICE OF THE COUNTY ADMINISTRATOR__ 1 Public Square, Room 210 Darlington, SC 29532
Financial Impact:
Options: Recommendations: Department:
www.darcosc.com
(843) 398-4100 Phone (843) 393-8539 Fax [email protected] Email
To the extent available, debt service on Bond will be paid from revenues in Solid Waste Fund. If such revenues are insufficient for such purpose, millage must be imposed. Approve/Deny Council’s consideration of Ordinance No. 1532. Environmental Services / Administration
www.darcosc.com
(843) 398-4100 Phone (843) 393-8539 Fax [email protected] Email
AGENDA ITEM Council Meeting Date: April 11, 2016
(Attach relevant documentation) Agenda Item No:
(Clerk to Council will insert)
Issue under Consideration:
Ordinance No. 1532 Ordinance Providing For The Issuance And Sale Of A Not Exceeding Three Million Five Hundred Thousand Dollar ($3,500,000) General Obligation Bond Of Darlington County, South Carolina, To Prescribe The Purposes For Which The Proceeds Shall Be Expended, To Provide For The Payment Thereof, And Other Matters Relating Thereto At its meeting of December 7, 2015, County Council authorized the staff/bond attorney to move forward with the bond ordinance which will include a provision that although the bond is being authorized, the bond would not be issued until subsequent approval by County Council by resolution.
Current Status:
On January 5, 2016, Council approved 2nd reading of Ordinance No. 1532 and approved the Work Authorization For Professional Services Agreement with Michael Baker International for a Solid Waste Management Plan and Feasibility Analysis Report. On February 1, 2016, Council placed this ordinance on the Pending List until the study (landfill study performed by Michael Baker International) is completed. During the Special Meeting on April 11, 2016, Michael Baker International will present the Solid Waste Feasibility Study for Council’s consideration. Proceeds will be used for improvements at the County Landfill.
Points to Consider:
Section 3.17 on page 7 of the Ordinance states, “…the Bond shall only be issued upon the approval of County Council in a resolution of the County Council (the “Resolution”) subsequent to the effective date of this Ordinance…” Section 3.14 provides that the annual levy of taxes will be reduced to the extent that annual monies are paid into the Debt Service Fund from the Environmental Services Fund.
OFFICE OF THE COUNTY ADMINISTRATOR__ 1 Public Square, Room 210 Darlington, SC 29532
Financial Impact:
Options: Recommendations: Department:
www.darcosc.com
(843) 398-4100 Phone (843) 393-8539 Fax [email protected] Email
To the extent available, debt service on Bond will be paid from revenues in Solid Waste Fund. If such revenues are insufficient for such purpose, millage must be imposed. Approve/Deny Council’s consideration of Ordinance No. 1532. Environmental Services / Administration
