File #: 2011-0059    Version: 1
Type: Motion Status: Passed
File created: 2/14/2011 In control: Metropolitan King County Council
On agenda: Final action: 2/14/2011
Enactment date: Enactment #: 13416
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2011, Series A, in the aggregate principal amount of $40,000,000; and establishing certain terms of such notes in accordance with Ordinance 16994.
Sponsors: Julia Patterson
Indexes: Bonds
Attachments: 1. Motion 13416.pdf, 2. A. Notice of Sale Official Notice of Sale $40,000,000 King County, Washington Limited Tax General Obligation Bond Anticipation Notes, 2011, Series A, 3. B. J.P. Morgan Securities LLC - New York, NY's Bid King County $40,000,000 Limited Tax General Obligation Bond Anticipation Notes, 2011 A, 4. C. Copy of All Other Bids Received and Summary, 5. A. Notice of Sale Official Notice of Sale $40,000,000 King County, Washington Limited Tax General Obligation Bond Anticipation Notes, 2011, Series A, 6. B. J.P. Morgan Securities LLC - New York, NY's Bid King County $40,000,000 Limited Tax General Obligation Bond Anticipation Notes, 2011 A, 7. C. Copy of All Other Bids Received and Summary
Drafter
Clerk 02/14/2011
title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2011, Series A, in the aggregate principal amount of $40,000,000; and establishing certain terms of such notes in accordance with Ordinance 16994.
Body
WHEREAS, pursuant to Ordinance 16994 (the "Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $150,000,000 outstanding at any time, to provide funds to pay for the cost of carrying out the Capital Improvement Program for Solid Waste Facilities and the Solid Waste Transfer and Waste Management Plan, and further authorized the issuance and public sale of one or more series of its limited tax general obligation bond anticipation notes in an aggregate principal amount, together with the bonds outstanding, not to exceed $150,000,000 outstanding at any one time to provide interim financing for such project pending the issuance of the bonds, and
WHEREAS, the Ordinance provided that such bond anticipation notes may be publicly sold in one or more series, either by negotiated sale or by competitive bid, as determined by the Finance Director in consultation with the county’s financial advisor, and
WHEREAS, the Finance Director has determined that a series of such bond anticipation notes authorized pursuant to the Ordinance, be designated as the county’s Limited Tax General Obligation Bond Anticipation Notes, 2011, Series A, in the aggregate principal amount of $40,000,000 (the "Notes"), be sold as provided herein, and
WHEREAS, currently, none of the bonds authorized by the Ordinance are outstanding. Currently, none of the bond anticipation notes authorized by the Ordinance are outstanding. The aggregate principal amount of all such bonds and bond anticipation notes (including the Notes) to be outstanding on the date of issu...

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