File #: 2019-0071    Version:
Type: Motion Status: Passed
File created: 2/27/2019 In control: Metropolitan King County Council
On agenda: Final action: 2/27/2019
Enactment date: Enactment #: 15330
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2019, Series A, in the aggregate principal amount of $41,420,000, establishing certain terms of such bonds in accordance with Ordinance 18376 and establishing a refunding plan for the refunding of the county's Limited Tax General Obligation Bonds, 2009, Series B and the county's Multi-Modal Limited Tax General Obligation Refunding Bonds, 2013.
Sponsors: Claudia Balducci
Indexes: Bonds
Attachments: 1. Motion 15330.pdf, 2. A-1. Description of the Refunded 2009B Bonds, 3. A-2. Description of the Refunded 2013 Bonds, 4. B. Official Notice of Sale, 5. C. Winning Bid, 6. D. Bond Maturity Dates, Principal Amounts and Interest Rates, 7. E-1. Description of the Refunded 2009B Bond Escrow Securities and the Refunded 2009B Bond Initial Cash, 8. E-2. Description of the Refunded 2013 Bond Escrow Securities and the Refunded 2013 Bond Initial Cash
title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Refunding Bonds, 2019, Series A, in the aggregate principal amount of $41,420,000, establishing certain terms of such bonds in accordance with Ordinance 18376 and establishing a refunding plan for the refunding of the county's Limited Tax General Obligation Bonds, 2009, Series B and the county's Multi-Modal Limited Tax General Obligation Refunding Bonds, 2013.
body
WHEREAS, pursuant to Ordinance 18376 ("the Ordinance"), the county council authorized the issuance of one or more series of limited tax general obligation bonds of the county for the purpose of paying all or part of the cost of refunding limited tax general obligation bonds of the county and the costs of issuing the refunding 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, to refund such limited tax general obligation bonds of the county, all 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 Refunding Bonds, 2019, Series A, in the aggregate principal amount of $41,420,000 ("the 2019A Bonds"), be issued as Tax-Exempt Bonds and sold by competitive bid as provided herein for the purpose of (a) refunding and defeasing the county's Limited Tax General Obligation Bonds, 2009, Series B maturing on or after June 1, 2020, which are described in Attachment A-1 to this motion ("the Refunded 2009B Bonds"), and (b) refunding all of the county's Multi-Modal Limited Tax General Obligation Refunding Bonds, 2013, which are described in Attachment A-2 to this motion ("the Refunded 2013 Bonds" and, together with the Refunded 2009B Bonds, "the Refunded Bonds"), and
WHE...

Click here for full text