Drafter
Clerk 04/19/2004
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A MOTION of the county council approving a bid for the county's Unlimited Tax General Obligation Bonds, 2004 (Harborview Medical Center), in the aggregate principal amount of $110,000,000 and establishing certain terms of such bonds, all in accordance with Ordinance 14857.
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WHEREAS, the county council by Ordinance 14857 passed on March 29, 2004 (the "Bond Ordinance"), authorized the issuance and sale of unlimited tax general obligation bonds of the county in the aggregate principal amount of $164,000,000 to finance a portion of the costs of certain capital improvements to facilities of Harborview Medical Center, as authorized by Ordinance 13896 of the County and approved by the qualified electors of the County at the September 19, 2000 election; and
WHEREAS, the Bond Ordinance provided that such bonds be sold in one or more series and by negotiated sale or competitive bid as determined by the county's director of finance and business operations division (the "Finance Director") in consultation with the county's financial advisors; and
WHEREAS, the Finance Director has determined that such bonds be sold by competitive bid in a series of bonds to be designated as the county's Unlimited Tax General Obligation Bonds, 2004 (Harborview Medical Center), in the aggregate principal amount of $110,000,000 (the "Bonds"); and
WHEREAS, pursuant to the Bond Ordinance, a preliminary official statement dated April 13, 2004, has been prepared for the sale of the Bonds, the Official Notice of Bond Sale (the "Notice") has been published, and bids have been received in accordance with the Notice; and
WHEREAS, the attached bid of Merrill Lynch & Co. (the "Purchaser") to purchase the Bonds is the best bid received for such bonds, and it is in the best interest of the county that the Bonds be sold to the Purchaser on the terms set forth in the Notice, the attached bid, the Bond Ordinance, and this motion; and
WHEREAS, in accordance ...
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