File #: 2017-0102    Version: 1
Type: Ordinance Status: Passed
File created: 5/22/2017 In control: Budget and Fiscal Management Committee
On agenda: Final action: 6/26/2017
Enactment date: 7/6/2017 Enactment #: 18543
Title: AN ORDINANCE authorizing the issuance and public sale of one or more series of limited tax general obligation bonds of the county in an aggregate original principal amount not to exceed $54,600,000 to provide financing for the BRC BI Analytics Project, the Courthouse Electrical Distribution System Replacement Project, the Dolan Interest Settlement Project, the DPD Lease Consolidation Project, the Elections Tabulation Project, the FMD Asset Management System Project, the FRED Projects and the Jail Management System Project, and to pay costs of issuing the bonds; providing for the disposition of the proceeds of sale of the bonds; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and providing for the annual levy of taxes to pay the principal thereof and interest thereon.
Sponsors: Dave Upthegrove
Indexes: Bonds
Attachments: 1. Ordinance 18543.pdf, 2. 2017-0102 legislative review form.pdf, 3. A. FRED Projects, 4. 2017-0102 transmittal letter.doc, 5. 2017-0102 fiscal note.xls, 6. 2017-0102_SR_Bond_Sale_PHH.docx
Staff: Hamacher, Patrick
Drafter
Clerk 03/09/2017
title
AN ORDINANCE authorizing the issuance and public sale of one or more series of limited tax general obligation bonds of the county in an aggregate original principal amount not to exceed $54,600,000 to provide financing for the BRC BI Analytics Project, the Courthouse Electrical Distribution System Replacement Project, the Dolan Interest Settlement Project, the DPD Lease Consolidation Project, the Elections Tabulation Project, the FMD Asset Management System Project, the FRED Projects and the Jail Management System Project, and to pay costs of issuing the bonds; providing for the disposition of the proceeds of sale of the bonds; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and providing for the annual levy of taxes to pay the principal thereof and interest thereon.
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PREAMBLE:
The county council previously reviewed and approved the BRC BI Analytics Project, the Courthouse Electrical Distribution System Replacement Project, the Dolan Interest Settlement Project, the DPD Lease Consolidation Project, the Elections Tabulation Project, the FMD Asset Management System Project, the FRED Projects and the Jail Management System Project.
It is deemed necessary and advisable that the county now authorize the issuance and sale of one or more series of its limited tax general obligation bonds in an aggregate original principal amount not to exceed $54,600,000 to provide financing for the BRC BI Analytics Project, the Courthouse Electrical Distribution System Replacement Project, the Dolan Interest Settlement Project, the DPD Lease Consolidation Project, the Elections Tabulation Project, the FMD Asset Management System Project, the FRED Projects and the Jail Management System Project and to pay costs of issuing the bonds.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Definitions. The following words and terms as used in this ordinance have the following meanings for all p...

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