Bill 58-22

FOR the purpose of authorizing the issuance by Anne Arundel County, Maryland (the “County”) of bond anticipation notes in an amount to be outstanding at any time not in excess of Six Hundred Million Dollars ($600,000,000) and bonds in an amount not exceeding One Billion Seven Million Five Hundred Thirty Nine Thousand One Hundred Thirteen Dollars ($1,007,539,113) in order to finance in whole or in part the construction of capital projects set forth in the capital budget of the County for the fiscal year ending June 30, 2023, or in such capital budgets for prior fiscal years, or usable portions thereof; authorizing the issuance by the County of refunding bonds to refund some or all of the outstanding bond issues of the County listed on Exhibit II attached hereto and incorporated herein in an aggregate principal amount not to exceed 120% of the aggregate principal amount of the outstanding bonds to be refunded, subject to the requirement that debt service savings shall be achieved in connection with any such refunding; authorizing the County to borrow money and incur indebtedness otherwise authorized to be borrowed and incurred hereunder in the form of bonds or bond anticipation notes by obtaining a loan or loans from the Maryland Water Quality Financing Administration