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File #: 2021-0161    Version:
Type: Ordinance Status: Passed
File created: 4/6/2021 In control: Budget and Fiscal Management Committee
On agenda: Final action: 5/4/2021
Enactment date: Enactment #: 19279
Title: AN ORDINANCE authorizing the issuance and sale of one or more series of limited tax general obligation bonds of the county in an aggregate principal amount not to exceed $806,000,000 to provide financing for transit infrastructure and bridge replacement projects, open space acquisition, improvements to the Norm Maleng Regional Justice Center, the jail management system project, affordable housing and homeless housing, transit-oriented development, and solid waste system capital improvements, and to pay the costs of issuing the bonds; authorizing the issuance and sale of one or more series of limited tax general obligation refunding bonds to refund outstanding limited tax general obligations of the county, and to pay the costs of issuing the bonds; providing for the disposition of the proceeds of the sale of the bonds; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and providing for the annual levy of taxes to pay the principal ther...
Sponsors: Jeanne Kohl-Welles
Indexes: Bonds, transit, Transportation
Attachments: 1. A. Form of Bond, 2. 2021-0161 Transmittal Letter, 3. 2021-0161 Fiscal Note, 4. 2021-0161 Legislative Review Form, 5. 2021-0161_SR_LTGOAuthorization_Final, 6. 2021-0161_ATT2_Amd1_AttA_Final, 7. 2021-0161_RevisedSR_LTGOAuthorization_Final
Staff: Bowman, Nick
title
AN ORDINANCE authorizing the issuance and sale of one or more series of limited tax general obligation bonds of the county in an aggregate principal amount not to exceed $806,000,000 to provide financing for transit infrastructure and bridge replacement projects, open space acquisition, improvements to the Norm Maleng Regional Justice Center, the jail management system project, affordable housing and homeless housing, transit-oriented development, and solid waste system capital improvements, and to pay the costs of issuing the bonds; authorizing the issuance and sale of one or more series of limited tax general obligation refunding bonds to refund outstanding limited tax general obligations of the county, and to pay the costs of issuing the bonds; providing for the disposition of the proceeds of the sale of the bonds; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and providing for the annual levy of taxes to pay the principal thereof and interest thereon.
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PREAMBLE:
Pursuant to county authority including RCW 39.46.110, the county may issue limited tax general obligation bonds that are payable from tax revenues of the county and such other money lawfully available and pledged or provided by the governing body of the county.
The county council has either previously reviewed and approved or expects to review and approve projects for transit infrastructure and bridge replacements, open space acquisition, improvements to the Norm Maleng Regional Justice Center, the jail management system project, affordable housing and homeless housing, transit-oriented development and solid waste system capital improvements.
The county council deems it necessary and advisable that the county now issue and sell from time to time one or more series of its limited tax general obligation bonds in an aggregate principal amount not to exceed $806,000,000 to provide financing for those projects (the "Project Bonds"), and to ...

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