File #: 2007-0480    Version:
Type: Motion Status: Passed
File created: 9/24/2007 In control: Capital Budget Committee
On agenda: Final action: 11/13/2007
Enactment date: Enactment #: 12630
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2007, Series E, in the aggregate principal amount of $43,705,000 and fixing the interest rates and other terms thereof in accordance with Ordinance 15925.
Sponsors: Bob Ferguson, Dow Constantine
Indexes: Bonds, Solid Waste
Attachments: 1. 12630.pdf, 2. 2007-0480 Fiscal Note.xls, 3. 2007-0480 Transmittal Letter.doc, 4. A. Official Notice of Sale $43,345,000 King County, Washington Limited Tax General Obligation Bonds, 2007, Series E, 5. A. Official Notice of Sale $43,345,000 King County, Washington Limited Tax General Obligation Bonds, 2007, Series E, 6. B. Goldman, Sachs & Co. - New York, NY's Bid--King County $43,345,000--Limited Tax General Obligation Bonds, 2007, Series E, 7. B. Goldman, Sachs & Co. - New York, NY's Bid--King County $43,345,000--Limited Tax General Obligation Bonds, 2007, Series E, 8. C. $43,705,000--King County, Washington--Limited Tax General Obligation Bonds, 2007, Series E, 9. C. $43,705,000--King County, Washington--Limited Tax General Obligation Bonds, 2007, Series E, 10. Revised Staff Report , 11. Staff Report 10-3-07
Staff: Soo Hoo, Wendy
Drafter
Clerk 11/13/2007
title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2007, Series E, in the aggregate principal amount of $43,705,000 and fixing the interest rates and other terms thereof in accordance with Ordinance 15925.
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WHEREAS, pursuant to Ordinance 15925, the county council authorized the issuance of one or more series of limited tax general obligation bonds of the county in an outstanding aggregate principal amount not to exceed $46,000,000 to provide long-term financing for the PeopleSoft/Oracle Upgrade Projects and the Solid Waste Projects, each defined and described in Ordinance 15925, and
WHEREAS, the Ordinance 15925 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 advisor, and
WHEREAS, the Finance Director has determined that a series of such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2007, Series E, in the aggregate principal amount of $43,705,000 (the "Bonds "), be sold by competitive bid as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance 15925 are outstanding. The aggregate principal amount of all such bonds (including the Bonds) to be outstanding on the date of issuance of the Bonds will be $43,705,000, which amount does not exceed $46,000,000, and
WHEREAS, a preliminary official statement dated November 7, 2007, has been prepared for the public sale of the Bonds, the official Notice of such sale dated November 7, 2007 (the "Notice"), has been duly published, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of Goldman, Sachs & Co. to purchase the Bonds is the best bid received for the Bonds, and it is in t...

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