Recommendation to: A) Adopt a resolution authorizing: 1. The County Executive, or designee(s), acting in consultation with the County Attorney, to take all necessary and advisable steps to defease the Refunding Lease Revenue Bonds, 2016 Series A (Youth Services Campus), including but not limited to establishing an escrow account, purchasing securities for the escrow, and executing any related agreements, notices, approvals, or documents to effectuate the defeasance and to give effect to this resolution; and 2. The allocation and use of one-time sources, such as Reserves, in the amount of up to $77,000,000, to effectuate the defeasance; and B) Approve an Appropriation Transfer Request (ATR) in the amount of $77,000,000 from Reserves to Non-Departmental Services for the cost of the defeasance.

Committee

COUNTY EXECUTIVE

Requested by

COUNTY EXECUTIVE

Introduced

January 24, 2025

On agenda

February 11, 2025

Passed

February 11, 2025

Enacted

February 11, 2025

Enactment no.

Resolution-080909; ATR-080929

Where it was heard

BOARD OF SUPERVISORS Feb 11, 2025 adopted Pass