File #: 2004-0093    Version:
Type: Motion Status: Passed
File created: 2/23/2004 In control: Budget and Fiscal Management Committee
On agenda: 8/23/2004 Final action: 8/23/2004
Enactment date: Enactment #: 11984
Title: A MOTION of the county council approving a bid for the county's Unlimited Tax General Obligation Bonds, Series 2004B (Harborview Medical Center), in the aggregate principal amount of $54,000,000 and establishing certain terms of such bonds; all in accordance with Ordinance 14857.
Sponsors: Larry Gossett
Indexes: Agreement, Bonds, Harborview
Attachments: 1. Motion 11984.pdf, 2. 2003-0093 Transmittal Letter.pdf, 3. 2004-0093 Attachment 5 to Staff Report 3-24-03, 4. 2004-0093 Staff Report 3-24-04, 5. A. Official Notice of Bond Sale, 6. A. Official Notice of Bond Sale, 7. Attachment A [Bond Purchase Agreement/Notice of Bond Sale], 8. Attachment B [Winning Bid for the Bonds], 9. B. Winning Bid for the Bonds, 10. B. Winning Bid for the Bonds
Drafter
Clerk 08/23/2004
title
A MOTION of the county council approving a bid for the county's Unlimited Tax General Obligation Bonds, Series 2004B (Harborview Medical Center), in the aggregate principal amount of $54,000,000 and establishing certain terms of such bonds; all in accordance with Ordinance 14857.
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WHEREAS, the county council by Ordinance 14857 passed on March 29, 2004 (the "Bond Ordinance"), authorized the issuance and sale of unlimited tax general obligation bonds of the county in the aggregate principal amount of $164,000,000 to finance a portion of the costs of certain capital improvements to facilities of Harborview Medical Center, as authorized by Ordinance 13896 of the county and approved by the qualified electors of the county at the September 19, 2000 election; and
WHEREAS, the Bond Ordinance provided that such bonds be sold in one or more series and by negotiated sale or competitive bid as determined by the county's director of finance and business operations (the "Finance Director") in consultation with the county's financial advisors; and
WHEREAS, a series of such bonds in the aggregate principal amount of $110,000,000, was issued on May 4, 2004, and authorized by Motion 11902 of the council; and
WHEREAS, the Finance Director has determined that the rest of such authorized bonds be sold by competitive bid in a series of bonds to be designated as the county's Unlimited Tax General Obligation Bonds, Series 2004B (Harborview Medical Center), in the aggregate principal amount of $54,000,000 (the "Bonds"); and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated August 13, 2004, has been prepared for the sale of the Bonds, the Official Notice of Bond Sale (the "Notice") has been published, and bids have been received in accordance with the Notice; and
WHEREAS, the attached bid of UBS Financial Services, Inc. (the "Purchaser") to purchase the Bonds is the best bid received for such bonds, and it...

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