File #: 2005-0310    Version: 1
Type: Ordinance Status: Passed
File created: 7/25/2005 In control: Budget and Fiscal Management Committee
On agenda: Final action: 9/19/2005
Enactment date: 9/21/2005 Enactment #: 15286
Title: AN ORDINANCE relating to the limited tax general obligation bonds of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide long-term financing for the Juanita Woodlands Open Space Acquisition Project and the Forestry and Nearshore Initiative Project, and the limited tax general obligation bond anticipation notes of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide interim financing for such projects pending the sale of such bonds; increasing the maximum outstanding aggregate principal amount of such bonds and bond anticipation notes to $40,000,000; and amending Ordinance 14991, Sections 1,4 and 5.
Sponsors: Larry Gossett
Indexes: Bonds, Juanita, Open Space
Attachments: 1. Ordinance 15286.pdf, 2. 2005-0309 Staff Report 9-7-05, 3. 2005-0310 transmittal Letter.doc
Staff: Hamacher, Patrick
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AN ORDINANCE relating to the limited tax general obligation bonds of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide long-term financing for the Juanita Woodlands Open Space Acquisition Project and the Forestry and Nearshore Initiative Project, and the limited tax general obligation bond anticipation notes of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide interim financing for such projects pending the sale of such bonds; increasing the maximum outstanding aggregate principal amount of such bonds and bond anticipation notes to $40,000,000; and amending Ordinance 14991, Sections 1,4 and 5.
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PREAMBLE:
Pursuant to Ordinance 14991, the county authorized the issuance and public sale of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $30,000,000 to provide long-term financing for the Juanita Woodlands Open Space Acquisition Project and the Forestry and Nearshore Initiative Project, each defined and described in Ordinance 14991, 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 $30,000,000 to provide interim financing for such projects pending the issuance of the bonds.
It is deemed necessary and advisable that the county now increase the maximum outstanding aggregate principal amount of such bonds and bond anticipation notes to $40,000,000; and amend certain provisions of Ordinance 14991 pertaining to such bonds and bond anticipation notes.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 14991, Section 1 is hereby amended to read as follows:
The following words and terms as u...

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