File #: 2012-0476    Version:
Type: Motion Status: Passed
File created: 12/10/2012 In control: Metropolitan King County Council
On agenda: Final action: 12/10/2012
Enactment date: Enactment #: 13786
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2012, Series E (Federally Tax-Exempt), in the aggregate principal amount of $25,405,000, allocating $6,020,000 of the county's QECB volume cap to, and accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2012, Series F (Federally Taxable Qualified Energy Conservation Bonds), in the aggregate principal amount of $6,020,000, and establishing certain terms of such bonds in accordance with Ordinance 17452.
Sponsors: Joe McDermott
Indexes: Bonds
Attachments: 1. Motion 13786.pdf, 2. A. Official Notice of Sale, 3. B. Fidelity Capital Markets - Boston, MA's Bid, 4. C. 2012E Bond Maturity Dates, Principal Amounts and Interest Rates, 5. D. BMO Capital Markets - Chicago, IL's Bid, 6. E. 2012F Bond Maturity Date, Principal Amount and Interest Rate
Drafter
Clerk 12/10/2012
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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, 2012, Series E (Federally Tax-Exempt), in the aggregate principal amount of $25,405,000, allocating $6,020,000 of the county's QECB volume cap to, and accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2012, Series F (Federally Taxable Qualified Energy Conservation Bonds), in the aggregate principal amount of $6,020,000, and establishing certain terms of such bonds in accordance with Ordinance 17452.
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WHEREAS, pursuant to Ordinance 17452 (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 $37,200,000 to provide long-term financing for all or part of the capital costs of the Southeast Electoral District Court Relocation Project, the South Plant Raw Sewage Pump Replacement Project, the KCCF HVAC Project, the IT Business Empowerment Project, the Mainframe Replacement Project and the Telephony System Project, as defined and described in the Ordinance, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations, QECBs 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, 2012, Series E (Federally Tax-Exempt), in the aggregate principal amount of $25,405,000 (the "2012E 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 Southeast Electoral District Court Relocation Project, the IT Business Empowerment Project, the Mainframe ...

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