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Committees recommend $420 million bond authorization for Viva White Oak Development District
Summary
A joint session of Montgomery County committees recommended that full council consider expedited bill 30 one-twenty 6, authorizing up to $420,000,000 in bonds to fund phase 1 of the Viva White Oak Development District; a technical amendment adds council review at set issuance thresholds.
Chair Stewart opened a joint session of the Government Operations & Fiscal Policy Committee and the Economic Development Committee to consider expedited bill 30 one-twenty 6, a bond authorization for the Viva White Oak Development District. “That is expedited bill 30 one-twenty 6, bond authorization for Viva White Oak Development District,” the chair said, and staff described the authorization as permitting the executive to issue bonds in one or more series in an aggregate principal amount not to exceed $420,000,000 to fund improvements for phase 1 of the project.
County staff walked the committees through the packet and the fiscal impact materials. “This bill is … a bond authorization in the amount of $420,000,000,” said Mr. Grozlik, the staff presenter, who also summarized public testimony and recent technical materials. The joint committees voted to recommend the amended bill to full council; the item is scheduled for Tuesday consideration by the full council.
