King County - File #: 2007-0192

• File #: 2007-0192
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 3/26/2007
• In control: Operating Budget, Fiscal Management and Mental Health Committee
• Final action: 5/21/2007
• Enactment date: 5/31/2007
• Enactment #: 15780
• Title: AN ORDINANCE providing for the issuance of one or more series of limited tax general obligation bonds of the county in an outstanding aggregate principal amount not to exceed $75,000,000 to refund all or a portion of the county's Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, Limited Tax General Obligation Bonds (Various Purpose), 2001, Limited Tax General Obligation Bonds (Various Purpose), 2002, Limited Tax General Obligation Bonds, 2003, Series A and Limited Tax General Obligation and Refunding Bonds, 2003, Series B; providing for the public sale of the bonds and the disposition of the proceeds of sale; 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.
• Sponsors: Bob Ferguson, Larry Phillips
• Indexes: Bonds, Finance
• Staff: Hamacher, Patrick

Date	Ver.	Action By	Action	Result
5/21/2007	1	Metropolitan King County Council	Hearing Held
5/21/2007	1	Metropolitan King County Council	Passed	Pass
5/9/2007	1	Operating Budget, Fiscal Management and Mental Health Committee	Recommended Do Pass	Pass
3/26/2007	1	Metropolitan King County Council	Introduced and Referred

Drafter
Clerk 3/12/2007
title
AN ORDINANCE providing for the issuance of one or more series of limited tax general obligation bonds of the county in an outstanding aggregate principal amount not to exceed $75,000,000 to refund all or a portion of the county's Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, Limited Tax General Obligation Bonds (Various Purpose), 2001, Limited Tax General Obligation Bonds (Various Purpose), 2002, Limited Tax General Obligation Bonds, 2003, Series A and Limited Tax General Obligation and Refunding Bonds, 2003, Series B; providing for the public sale of the bonds and the disposition of the proceeds of sale; 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:
The county has previously issued its Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1993 Series B, Limited Tax General Obligation and Refunding Bonds (Various Purpose), 1996 Series A, Limited Tax General Obligation Bonds (Various Purpose), 2001, Limited Tax General Obligation Bonds (Various Purpose), 2002, Limited Tax General Obligation Bonds, 2003, Series A and Limited Tax General Obligation and Refunding Bonds, 2003, Series B. The county has an opportunity to refund all or a portion of those bonds, thereby realizing savings to its taxpayers.
It is deemed necessary and advisable that the county now authorize the issuance and sale of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $75,000,000 to undertake such refunding.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Definitions. The following words and terms as used in this ordinance shall have the following meanings for all purpo...