Drafter
Clerk 09/30/2021
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AN ORDINANCE amending Ordinance 19279, adopted by the council on May 4, 2021, which authorized the issuance of limited tax general obligation bonds of the county; and amending Ordinance 19279, Sections 1, 4, 13 and 17.
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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.
Pursuant to Ordinance 19279 ("the Original Ordinance"), the county is authorized to 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 these projects as identified in the Original Ordinance, and to pay the costs of issuing the bonds.
In addition to the projects identified in the Original Ordinance, the county council has either previously reviewed and approved or expects to review and approve the King County Sheriff's Office Evidence Storage project.
The council desires to identify this additional project as one for which the county may provide financing from the sale of limited tax general obligation bonds authorized by the Original Ordinance. Further, the Council desires to increase the aggregate principal amount of these bonds to an amount not to exceed $812,000,000.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Definitions. Capitalized terms used in this ordinance have the meaning given those terms in Ordinance 1927...

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