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A MOTION of the county accepting bids for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2002, in the aggregate principal amount of $85,000,000; fixing the interest rates and other terms of such Notes, all in accordance with Ordinance 14167 of the county.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
WHEREAS, the county council by Ordinance 14167 passed July 16, 2001 (the "Note Ordinance"), authorized the issuance and sale of limited tax general obligation bond anticipation notes of the county in an outstanding aggregate principal amount of not to exceed $125,000,000, and
WHEREAS, the Note Ordinance provided that such bond anticipation notes be sold in one or more series at public sale as determined by the Finance Director, and
WHEREAS, the Finance Director has determined that a series of such bond anticipation notes to be designated as the county's Limited Tax General Obligation Bond Anticipation Notes, 2002 (the "Notes") be sold as provided herein, and
WHEREAS, pursuant to the Note Ordinance, a preliminary official statement dated September 5, 2002 has been prepared for the public sale of the Notes, 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 Morgan Stanley, Dean Witter ("Morgan Stanley") to purchase the Notes is the best bid received for such Notes, and it is in the best interest of the county that such Notes be sold to Morgan Stanley on the terms set forth in the Notice, the attached bid, the Note 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 Note Ordinance.
B. Ratification of Notice of Sale, Acceptance of Bids, and Authorization of Notes. The issuance of the Notes, designated as the county's Limited Tax General Ob...

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