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File #: 2016-0113    Version:
Type: Motion Status: Passed
File created: 2/22/2016 In control: Metropolitan King County Council
On agenda: Final action: 2/22/2016
Enactment date: Enactment #: 14576
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2016, Series A, in the aggregate principal amount of $22,450,000, accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2016, Series B (Taxable), in the aggregate principal amount of $2,575,000, and establishing certain terms of such bonds in accordance with Ordinance 18180.
Sponsors: Dave Upthegrove
Attachments: 1. 14576.pdf, 2. A. Official Notice of Sale, 3. B. Winning Bid Series A, 4. C. 2016A Bond Maturity Dates, Principal Amounts and Interest Rates, 5. D. Winning Bid Series B, 6. E. 2016B Bond Maturity Dates, Prinicipal Amounts and Interest Rates, 7. A. Official Notice of Sale, 8. B. Winning Bid Series A, 9. C. 2016A Bond Maturity Dates, Principal Amounts and Interest Rates, 10. D. Winning Bid Series B, 11. E. 2016B Bond Maturity Dates, Prinicipal Amounts and Interest Rates
Drafter
Clerk 02/23/2016
title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2016, Series A, in the aggregate principal amount of $22,450,000, accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2016, Series B (Taxable), in the aggregate principal amount of $2,575,000, and establishing certain terms of such bonds in accordance with Ordinance 18180.
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WHEREAS, pursuant to Ordinance 18180 ("the Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an aggregate original principal amount not to exceed $29,000,000 to provide financing for the Building for Culture Program, defined and described in the Ordinance, and to pay costs of issuing the bonds, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Bonds or Taxable Bonds and sold at public sale, either by competitive bid or negotiated sale, 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, 2016, Series A, in the aggregate principal amount of $22,450,000 ("the 2016A Bonds"), be issued as Tax-Exempt Bonds and sold as provided herein, and
WHEREAS, the Finance Director has determined that a second series of such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2016, Series B (Taxable), in the aggregate principal amount of $2,575,000 ("the 2016B Bonds" and, together with the 2016A Bonds, "the Bonds"), be issued as Taxable Bonds and sold as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding, and
WHEREAS, a preliminary official statement dated February 12, 2016, has been prepared for the public sale of the Bond...

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