Title
AN ORDINANCE amending Ordinance 19862, adopted by the council on November 19, 2024, which authorized the issuance of limited tax general obligation bonds of the county; and amending Ordinance 19862, Sections 1, 2, 4, 13, 17, and 19 and repealing Ordinance 19862, Attachment B.
Body
PREAMBLE:
Pursuant to RCW 39.46.110 and other county authority, the county may issue limited tax general obligation bonds payable from tax revenues of the county and such other money lawfully available and pledged or provided by the county council.
The county council has either previously reviewed and approved or expects to review and approve the capital improvement projects of the county as generally described in Ordinance 19862.
Pursuant to Ordinance 19862, the county is authorized to issue and sell from time to time one or more series of its limited tax general obligation bonds in an aggregate principal amount not to exceed $604,000,000 to provide financing for these projects as identified in Ordinance 19862, and to pay the costs of issuing the bonds.
In addition to the projects identified in the Ordinance 19862, the county council has either previously reviewed and approved or expects to review and approve a project to replace the distributed antenna system at the King County Correctional Facility, the King County Courthouse, and the Norm Maleng Regional Justice Center, and the acquisition of and improvements to a plant used to process and convert landfill gas to generate alternate gas products or energy and related facilities and infrastructure. The council desires to identify these additional projects as projects for which the county may provide financing from the sale of limited tax general obligation bonds authorized by Ordinance 19862. Further, the Council desires to increase the aggregate principal amount of these bonds to an aggregate principal amount not to exceed $689,000,000 to reflect inclusion of these projects.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
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