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AN ORDINANCE relating to the limited tax general obligation bonds of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide long-term financing for the Juanita Woodlands Open Space Acquisition Project and the Forestry and Nearshore Initiative Project, and the limited tax general obligation bond anticipation notes of the county previously authorized to be issued and publicly sold in one or more series in an outstanding aggregate principal amount not to exceed $30,000,000 to provide interim financing for such projects pending the sale of such bonds; increasing the maximum outstanding aggregate principal amount of such bonds and bond anticipation notes to $40,000,000; and amending Ordinance 14991, Sections 1,4 and 5.
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PREAMBLE:
Pursuant to Ordinance 14991, the county authorized the issuance and public sale of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $30,000,000 to provide long-term financing for the Juanita Woodlands Open Space Acquisition Project and the Forestry and Nearshore Initiative Project, each defined and described in Ordinance 14991, and further authorized the issuance and public sale of one or more series of its limited tax general obligation bond anticipation notes in an outstanding aggregate principal amount not to exceed $30,000,000 to provide interim financing for such projects pending the issuance of the bonds.
It is deemed necessary and advisable that the county now increase the maximum outstanding aggregate principal amount of such bonds and bond anticipation notes to $40,000,000; and amend certain provisions of Ordinance 14991 pertaining to such bonds and bond anticipation notes.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 14991, Section 1 is hereby amended to read as follows:
The following words and terms as u...
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