File #: 2011-0330    Version:
Type: Motion Status: Passed
File created: 7/25/2011 In control: Metropolitan King County Council
On agenda: Final action: 7/25/2011
Enactment date: Enactment #: 13520
Title: A MOTION of the county council approving the sale of the county's Limited Tax General Obligation Refunding Bonds, 2011, in the aggregate principal amount of $25,700,000 and the terms and conditions thereof, as set forth in a bond purchase contract therefor, approving and authorizing the execution of such bond purchase contract, and establishing the plan of refunding, all in accordance with Ordinance 15780.
Sponsors: Julia Patterson
Indexes: Bonds
Attachments: 1. Motion 13520.pdf, 2. A. King County, Washington $25,700,000 Limited Tax General Obligation Refunding Bonds, 2011 Bond Purchase Contract, 3. B. Refunded Bonds, 4. C. Government Obligations to be Purchased, 5. A. King County, Washington $25,700,000 Limited Tax General Obligation Refunding Bonds, 2011 Bond Purchase Contract, 6. B. Refunded Bonds, 7. C. Government Obligations to be Purchased
Drafter
Clerk 07/25/2011
title
A MOTION of the county council approving the sale of the county's Limited Tax General Obligation Refunding Bonds, 2011, in the aggregate principal amount of $25,700,000 and the terms and conditions thereof, as set forth in a bond purchase contract therefor, approving and authorizing the execution of such bond purchase contract, and establishing the plan of refunding, all in accordance with Ordinance 15780.
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WHEREAS, pursuant to Ordinance 15780 (the "Bond Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $75,000,000 to refund all or a portion of the county's Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, Limited Tax General Obligation Bonds (Various Purpose), 2001, Limited Tax General Obligation Bonds (Various Purpose), 2002, Limited Tax General Obligation Bonds, 2003, Series A and Limited Tax General Obligation and Refunding Bonds, 2003, Series B, and
WHEREAS, the Bond Ordinance provided that such bonds may be publicly sold in one or more series, any of which may be sold in a combined offering with other bonds of the county, either by negotiated sale or by competitive bid, 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 the bonds authorized pursuant to the Bond Ordinance, to be designated as the county's Limited Tax General Obligation Refunding Bonds, 2011 (the "Bonds") be sold by negotiated sale as provided herein, and
WHEREAS, $43,060,000 of the bonds authorized by the Bond Ordinance are currently outstanding. The aggregate principal amount of all such bonds (including the Bonds) to be outstanding on the date of issuance of the Bonds, computed as provi...

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