File #: 2002-0370    Version:
Type: Ordinance Status: Passed
File created: 8/19/2002 In control: Budget and Fiscal Management Committee
On agenda: Final action: 9/9/2002
Enactment date: 9/19/2002 Enactment #: 14463
Title: AN ORDINANCE augmenting and revising the projects that are authorized to be financed, on a long-term basis, by one or more series of limited tax general obligation bonds of the county in an outstanding aggregate principal amount not to exceed $125,000,000, and pending the sale of such bonds, on an interim basis, by one or more series of limited tax general obligation bond anticipation notes of the county in an outstanding aggregate principal amount not to exceed $125,000,000, as previously authorized by Ordinance 14167; and amending Ordinance 14167, Sections 1, 2, 3, 4, 5, 7 and 12.
Sponsors: Larry Phillips
Indexes: Bonds, Budget, Finance
Attachments: 1. Ordinance 14463.pdf, 2. 2002-0370 Revised Staff Report.doc, 3. 2002-0370 Transmittal Letter.doc, 4. EQ FEMA-Insurance Reimbursements.xls
Drafter
Clerk 09/05/2002
title
AN ORDINANCE augmenting and revising the projects that are authorized to be financed, on a long-term basis, by one or more series of limited tax general obligation bonds of the county in an outstanding aggregate principal amount not to exceed $125,000,000, and pending the sale of such bonds, on an interim basis, by one or more series of limited tax general obligation bond anticipation notes of the county in an outstanding aggregate principal amount not to exceed $125,000,000, as previously authorized by Ordinance 14167; and amending Ordinance 14167, Sections 1, 2, 3, 4, 5, 7 and 12.
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PREAMBLE:
Pursuant to Ordinance 14167, the county 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
The county council has heretofore received and reviewed plans for the Courthouse Earthquake Repairs, as well as revised plans for the North Rehabilitation Facility.
It is deemed necessary and advisable that the county now add the Courthouse Earthquake Repairs to the list of projects that are authorized to be financed, on a long-term basis, by such bonds, and pending the sale of such bonds, on an interim basis, by such bond anticipation notes, and that the county now revise the scope of the North Rehabilitation Facility Project.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 14167, Section 1, is hereb...

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