File #: 2012-0434    Version:
Type: Motion Status: Passed
File created: 10/29/2012 In control: Metropolitan King County Council
On agenda: Final action: 11/13/2012
Enactment date: Enactment #: 13770
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2012, Series D (Federally Tax-Exempt Qualified 501(c)(3) Bonds), in the aggregate principal amount of $41,810,000, and establishing certain terms of such bonds and the plan of refunding, all in accordance with Ordinance 17409.
Sponsors: Joe McDermott
Indexes: Bonds
Attachments: 1. Motion 13770.pdf, 2. A. Amended and Restated Official Notice of Sale, 3. B. Winning Bid, 4. C. Bond Maturity Dates, Principal Amounts and Interest Rates, 5. D. Description of the BOP Bonds, 6. E. Initial Cash, 7. A. Amended and Restated Official Notice of Sale, 8. B. Winning Bid, 9. C. Bond Maturity Dates, Principal Amounts and Interest Rates, 10. D. Description of the BOP Bonds, 11. E. Initial Cash
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A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2012, Series D (Federally Tax-Exempt Qualified 501(c)(3) Bonds), in the aggregate principal amount of $41,810,000, and establishing certain terms of such bonds and the plan of refunding, all in accordance with Ordinance 17409.
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WHEREAS, pursuant to Ordinance 17409 (the "Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $56,000,000 to obtain funds to undertake the Patricia Steel Building Project, as defined and described in the Ordinance, and to pay the costs and expenses incurred in issuing such bonds, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations, including Qualified 501(c)(3) Bonds, or as Taxable Obligations, and sold at public sale, either by negotiated sale or by competitive bid, in one or more series as determined by the Finance Director in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined that a series of such bonds, to be designated as the county's Limited Tax General Obligation Refunding Bonds, 2012, Series D (Federally Tax-Exempt Qualified 501(c)(3) Bonds), in the aggregate principal amount of $41,810,000 (the "Bonds"), shall be issued as Tax-Exempt Obligations that are Qualified 501(c)(3) Bonds and sold to obtain funds to undertake the Patricia Steel Building Project and to pay the costs and expenses incurred in issuing the Bonds, all as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding, and
WHEREAS, a preliminary official statement dated October 22, 2012, as amended by an errata notice dated October 25, 2012, and by an addendum dated November 2, 2012, has been prepared for the public sale of the Bonds, the amended and restated...

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