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Bowie council approves up to $33 million in bonds to finance new ice arena, utility projects
Summary
The council unanimously adopted Resolution R97‑25 on Oct. 25 authorizing two series of general obligation bonds (tax‑exempt and taxable) with combined principal not to exceed $33 million to fund a replacement ice arena and related utility infrastructure. Staff and outside advisors described schedules, ratings and next steps.
The Bowie City Council on Oct. 25 unanimously approved Resolution R97‑25, authorizing the city to issue two series of general obligation public‑improvement bonds—one tax‑exempt and one taxable—with a combined maximum principal of $33,000,000 to finance a replacement City of Bowie Ice Arena and utility infrastructure projects.
Assistant City Manager Daniel Meares presented the item with the city’s financial adviser and bond counsel. Bond counsel Lindsay Raider said the resolution delegates limited authority to the city manager and finance director to adjust amortization schedules prior to sale and noted the pledge of the city’s full faith and credit and unlimited taxing power to pay debt service. The bond…
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