Drafter
Clerk 06/09/2014
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A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2014, Series B (Federally Tax-Exempt), in the aggregate principal amount of $15,395,000, and establishing certain terms of such bonds in accordance with Ordinance 17794.
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WHEREAS, pursuant to Ordinance 17794 (the "Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $17,750,000 to provide long-term financing for all or part of the capital costs of the Surface Water Management Projects and the Tall Chief Acquisition Project (collectively, the "Projects"), all as defined and described in the Ordinance, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations or other Taxable Obligations, and sold at public sale, either by negotiated sale or by competitive bid, in one or more series as determined by the Finance Director in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined that a series of such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2014, Series B (Federally Tax-Exempt), in the aggregate principal amount of $15,395,000 (the "Bonds"), shall be issued as Tax-Exempt Obligations and sold to provide long-term financing for all or part of the capital costs of the Projects, as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding, and
WHEREAS, a preliminary official statement dated June 2, 2014, has been prepared for the public sale of the Bonds, the official notice of such sale dated June 2, 2014 (the "Notice"), has been published, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of J.P. Morgan Securities LLC to purchase the Bonds is the best bid received for the Bonds,...

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