File #: 2003-0397    Version:
Type: Motion Status: Passed
File created: 9/2/2003 In control: Metropolitan King County Council
On agenda: 12/6/2004 Final action: 12/6/2004
Enactment date: Enactment #: 12054
Title: A MOTION of the county council approving a bond purchase agreement for the county's Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series C (Taxable) in the aggregate principal amount of $13,195,000 and Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series D in the aggregate principal amount of $32,075,000, and establishing certain terms of such bonds and a plan of refunding; all in accordance with Ordinance 14813.
Sponsors: Larry Phillips
Indexes: Agreement, Baseball, Bonds, Budget, Finance
Attachments: 1. Motion 12054.pdf, 2. 2003-0396 Revised Staff Report 12-10-03, 3. 2003-0396 Staff Report 12-10-03, 4. 2003-0397 Attachment 4 to staff report.pdf, 5. 2003-0397 Attachment A..pdf, 6. 2003-0397 Transmittal Letter.doc, 7. A. Bond Purchase Agreement, 8. A. Bond Purchase Agreement, 9. A. [Attach here a copy of the Bond Purchase Agreement or Notice of Bond Sale], 10. B. [Attach here a copy of the winning bid for the Bonds]
Drafter
Clerk 12/06/2004
title
A MOTION of the county council approving a bond purchase agreement for the county's Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series C (Taxable) in the aggregate principal amount of $13,195,000 and Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series D in the aggregate principal amount of $32,075,000, and establishing certain terms of such bonds and a plan of refunding; all in accordance with Ordinance 14813.
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WHEREAS, the county council by Ordinance 14813 passed on December 15, 2003 (the "Bond Ordinance"), authorized the issuance and sale of limited tax general obligation bonds of the county in the aggregate principal amount of not to exceed $115,000,000 to refund certain outstanding limited tax general obligation bonds issued by the county to finance construction of a major league baseball stadium and related parking facilities, 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 manager of finance and business operations (the "Finance Manager") in consultation with the county's financial advisor, and
WHEREAS, the Finance Manager has determined that two series of such bonds be sold by negotiated sale as follows: a series of the county's Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series C (Taxable), in the aggregate principal amount of $13,195,000 (the "2004 Series C Bonds"), and a series of the county's Limited Tax General Obligation Refunding Bonds (Baseball Stadium), 2004, Series D in the aggregate principal amount of $32,075,000 (the "2004 Series D Bonds," and, together with the 2004 Series C Bonds, the "Bonds"), and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated November 30, 2004, has been prepared for the sale of the Bonds, and the Finance Manager has negotiated the sale of the Bonds...

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