File #: 2004-0162    Version:
Type: Motion Status: Passed
File created: 4/5/2004 In control: Budget and Fiscal Management Committee
On agenda: 8/30/2004 Final action: 8/30/2004
Enactment date: Enactment #: 11986
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2004, Series A in the aggregate principal amount of $57,045,000, and establishing certain terms of such bonds and a plan of refunding, all in accordance with Ordinance 14890.
Sponsors: Larry Gossett
Indexes: Bonds, Budget, Finance
Attachments: 1. Motion 11986.pdf, 2. 2004-0162 Staff Report 4-28-04, 3. 2004-0162 Transmittal Letter.doc, 4. A. Exhibit A - Official Notice of Bond Sale, 5. A. Exhibit A - Official Notice of Bond Sale, 6. A. [Attach here a copy of Exhibit A-Bond Purchase Contract], 7. B. Exhibit B Winning Bid - ABN AMRO Financial Services, Inc. - New York, NY's Bid, 8. B. Exhibit B Winning Bid - ABN AMRO Financial Services, Inc. - New York, NY's Bid, 9. C. Exhibit C $57,045,000 King County, Washington Limited Tax General Obligation Refunding Bonds, 2004, Series A Maturity Dates, Principal Amounts and Interest Rates, 10. C. Exhibit C $57,045,000 King County, Washington Limited Tax General Obligation Refunding Bonds, 2004, Series A Maturity Dates, Principal Amounts and Interest Rates, 11. D. Exhibit D Refunded 1996A Bonds, 12. D. Exhibit D Refunded 1996A Bonds, 13. E. Exhibit E Government Obligations, 14. E. Exhibit E Government Obligations, 15. E. Exhibit E Government Obligations
Drafter
Clerk 08/30/2004
Title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2004, Series A in the aggregate principal amount of $57,045,000, and establishing certain terms of such bonds and a plan of refunding, all in accordance with Ordinance 14890.
Body
WHEREAS, pursuant to Ordinance 14890 (the "Bond 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 $107,500,000 to refund all or a portion of the county's Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B and Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, and
WHEREAS, the Bond Ordinance provided that such bonds may be publicly sold in one or more series, any of which may be sold in a combined offering with other bonds of the county, either by negotiated sale or by competitive bid, as determined by the Finance Director in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined, in consultation with the county's financial advisors, that a series of the bonds authorized pursuant to the Bond Ordinance, to be designated as the county's Limited Tax General Obligation Refunding Bonds, 2004, Series A (the "Bonds") be sold by competitive bid as provided herein, and
WHEREAS, none of the bonds authorized by the Bond Ordinance are currently outstanding, and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated August 23, 2004, has been prepared for the public sale of the Bonds, the official Notice of such sale (the "Notice") has been duly published, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of ABN AMRO Financial Services, Inc. to purchase the Bonds is the best bid received, and it is in the best inter...

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