File #: 2009-0057    Version:
Type: Motion Status: Passed
File created: 1/26/2009 In control: Budget and Fiscal Management Committee
On agenda: Final action: 2/23/2009
Enactment date: Enactment #: 12927
Title: A MOTION of the county council approving the sale of the county's Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A, in the aggregate principal amount of $50,000,000, and the terms and conditions thereof, as set forth in a bond purchase contract therefor, approving and authorizing the execution of such bond purchase contract, appointing a remarketing agent for such bonds and approving and authorizing the execution of a remarketing agreement therefor, confirming the selection of an initial liquidity provider for such bonds and approving and authorizing the execution of the initial liquidity facility therefor, approving and authorizing the execution of a variable rate bond agreement therefor, and determining the application of the sale proceeds of such bonds, all in accordance with Ordinance 14167, as amended by Ordinance 14463, Ordinance 14745, Ordinance 14992, Ordinance 15285, Ordinance 15604 and Ordinance 16361.
Sponsors: Larry Gossett
Indexes: Bonds, Finance
Attachments: 1. 12927.pdf, 2. 2009-0057 Fiscal Note.xls, 3. 2009-0057 Transmital Letter.doc, 4. A. $50,000,000 KING COUNTY, WASHINGTON Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A BOND PURCHASE CONTRACT, 5. A. $50,000,000 KING COUNTY, WASHINGTON Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A BOND PURCHASE CONTRACT, 6. B. REMARKETING AGREEMENT between KING COUNTY, WASHINGTON and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Dated February 26, 2009 Relating to KING COUNTY, WASHINGTON Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A, 7. B. REMARKETING AGREEMENT between KING COUNTY, WASHINGTON and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Dated February 26, 2009 Relating to KING COUNTY, WASHINGTON Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A, 8. C. STANDBY BOND PURCHASE AGREEMENT Dated as of February 26, 2009 by and among KING COUNTY, WASHINGTON, as County THE BANK OF NEW YORK MELLON, as Bond Registrar and BANK OF AMERICA, N.A. as Bank, 9. C. STANDBY BOND PURCHASE AGREEMENT Dated as of February 26, 2009 by and among KING COUNTY, WASHINGTON, as County THE BANK OF NEW YORK MELLON, as Bond Registrar and BANK OF AMERICA, N.A. as Bank, 10. D. VARIABLE RATE BOND AGREEMENT, 11. D. VARIABLE RATE BOND AGREEMENT, 12. Staff Report 1-28-2009 , 13. Staff Report Attachment 6 - Letter
Staff: Hamacher, Patrick
Drafter
Clerk 2/20/2009
Title
A MOTION of the county council approving the sale of the county's Multi-Modal Limited Tax General Obligation Bonds, 2009, Series A, in the aggregate principal amount of $50,000,000, and the terms and conditions thereof, as set forth in a bond purchase contract therefor, approving and authorizing the execution of such bond purchase contract, appointing a remarketing agent for such bonds and approving and authorizing the execution of a remarketing agreement therefor, confirming the selection of an initial liquidity provider for such bonds and approving and authorizing the execution of the initial liquidity facility therefor, approving and authorizing the execution of a variable rate bond agreement therefor, and determining the application of the sale proceeds of such bonds, all in accordance with Ordinance 14167, as amended by Ordinance 14463, Ordinance 14745, Ordinance 14992, Ordinance 15285, Ordinance 15604 and Ordinance 16361.
Body
WHEREAS, pursuant to Ordinance 14167, the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $125,000,000 to provide long-term financing for the Courthouse Seismic Project, the North Rehabilitation Facility Project and the Regional Communications and Emergency Control Center Project, each defined and described in Ordinance 14167, and further authorized the issuance and public sale of one or more series of its limited tax general obligation bond anticipation notes in an outstanding aggregate principal amount not to exceed $125,000,000 to provide interim financing for such projects pending the issuance of the bonds, and
WHEREAS, pursuant to Ordinance 14463, the county council amended Ordinance 14167 to revise the description of the North Rehabilitation Facility Project and to augment the projects authorized to be financed, on a long-term basis, by such bonds, and pending the sale of su...

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