File #: 2002-0369    Version:
Type: Motion Status: Passed
File created: 8/19/2002 In control: Budget and Fiscal Management Committee
On agenda: Final action: 9/30/2002
Enactment date: Enactment #: 11546
Title: A MOTION of the county accepting bids for the purchase of the county's Limited Tax General Obligation Bonds (Various Purpose), 2002, in the aggregate principal amount of $38,340,000; fixing the interest rates and other terms of such Bonds, all in accordance with Ordinance 14462 of the County.
Sponsors: Larry Phillips
Indexes: Bidding, Bonds
Attachments: 1. Motion 11546.pdf, 2. 2002-0368 0369 Revised Staff Report.doc, 3. 2002-0368, 0369 road bonds 9-4-02.doc, 4. 2002-0369 Transmittal Letter.doc, 5. A. Notice of Sale, 6. B. Resized Principal Amounts, 7. C. Winning Bid ABN AMRO Financial Services
Drafter
Clerk 08/15/2002
title
A MOTION of the county accepting bids for the purchase of the county's Limited Tax General Obligation Bonds (Various Purpose), 2002, in the aggregate principal amount of $38,340,000; fixing the interest rates and other terms of such Bonds, all in accordance with Ordinance 14462 of the County.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
WHEREAS, the county council by Ordinance 14462 passed September 9, 2002 (the "Bond Ordinance"), authorized the issuance and sale of limited tax general obligation bonds of the county in an outstanding aggregate principal amount of not to exceed $42,500,000, and
WHEREAS, the Bond Ordinance provided that such bonds be sold in one or more series at public sale as determined by the Finance Manager, and
WHEREAS, the Finance Manager has determined that a series of such bonds to be designated as the county's Limited Tax General Obligation Bonds (Various Purpose), 2002 (the "Bonds") be sold as provided herein, and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated September 20, 2002 has been prepared for the public sale of the Bonds, the official Notice of such sale (the "Notice") has been duly published, and bids have been received in accordance with the Notice, and
WHEREAS, the attached bid of ABN AMRO Financial Services, Inc. ("ABN AMRO") to purchase the Bonds is the best bid received for such Bonds, and it is in the best interest of the county that such Bonds be sold to ABN AMRO on the terms set forth in the Notice, the attached bid, the Bond Ordinance and this motion;
NOW, THEREFORE, BE IT MOVED by the Council of King County:
A. Definitions. Except as expressly authorized herein, terms used in this motion have the meanings set forth in the Bond Ordinance.
B. Ratification of Notice of Sale, Acceptance of Bids, and Authorization of Bonds. The issuance of the Bonds, designated as the county's Limited Tax General Obligation Bonds (Various Purpo...

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