File #: 2003-0305    Version:
Type: Motion Status: Passed
File created: 7/7/2003 In control: Metropolitan King County Council
On agenda: 3/1/2004 Final action: 3/1/2004
Enactment date: Enactment #: 11879
Title: A MOTION of the county council accepting bids for the county's Sewer Revenue Bonds, Series 2004A, in the aggregate principal amount of $185,000,000 and Sewer Revenue Refunding Bonds, Series 2004B, in the aggregate principal amount of $61,760,000, and establishing certain terms of such bonds and a plan of refunding; all in accordance with Ordinance 14753.
Sponsors: Larry Phillips
Indexes: Bonds, Budget, Finance
Attachments: 1. Motion 11879.pdf, 2. A. [Official Notice of Bond Sale] [Bond Purchase Contract], 3. 2003-0305 Transmittal Letter.doc, 4. 2003-0307 Revised Staff Report.doc, 5. 2003-0307 Staff Report wdn.doc, 6. A. Official Notice of Bond Sale, Bond Purchase Contract- Preliminary Official Statement Dated February 23, 2004, 7. A. Official Notice of Bond Sale, Bond Purchase Contract- Preliminary Official Statement Dated February 23, 2004, 8. B. Winning Bid for the Bond- Merrill Lynch & Co. - New York, NY's Bid King County $180,565,000 Sewer Revenue Bonds, Series 2004A, 9. B. Winning Bid for the Bond- Merrill Lynch & Co. - New York, NY's Bid King County $180,565,000 Sewer Revenue Bonds, Series 2004A, 10. B. [Winning Bid for the Bonds], 11. C. Winning Bid for the Bond - Merrill Lynch & Co. - New York, NY's Bid King County $60,420,000 Sewer Revenue Refunding Bonds, Series 2004B, 12. C. Winning Bid for the Bond - Merrill Lynch & Co. - New York, NY's Bid King County $60,420,000 Sewer Revenue Refunding Bonds, Series 2004B
Drafter
Clerk 03/01/2004
title
A MOTION of the county council accepting bids for the county's Sewer Revenue Bonds, Series 2004A, in the aggregate principal amount of $185,000,000 and Sewer Revenue Refunding Bonds, Series 2004B, in the aggregate principal amount of $61,760,000, and establishing certain terms of such bonds and a plan of refunding; all in accordance with Ordinance 14753.
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WHEREAS, the county council by Ordinance 14753 passed on September 18, 2003 (the "Bond Ordinance"), authorized the issuance and sale of not to exceed $65,000,000 principal amount of sewer revenue bonds of the county to refund certain outstanding sewer revenue bonds (the "Refunding Bonds") and not to exceed $185,000,000 principal amount of sewer revenue bonds of the county to finance the construction of improvements to the county's sewer system (the "Project Bonds"); 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 a series of Refunding Bonds in the aggregate principal amount of $61,760,000 (as hereinafter identified, the "Series 2004A Bonds") and a series of Project Bonds in the aggregate principal amount of $185,000,000 (hereinafter identified, the "Series 2004B Bonds") be sold by competitive bid as provided herein; and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated February 23, 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 Merrill Lynch & Co. to purchase the Series 2004A Bonds (the "Series 2004A Bonds Purchaser") is the best bid received for the Series 2004A Bonds and the attached bid o...

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