Drafter
Clerk 10/18/2010
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A MOTION of the county council accepting a bid for the purchase of the county's Unlimited Tax General Obligation Refunding Bonds, 2010, Series A, in the aggregate principal amount of $19,805,000, and establishing certain terms of such bonds and the plan of refunding, all in accordance with Ordinance 16657.
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WHEREAS, pursuant to Ordinance 16657 (the "UTGO Bond Ordinance"), the county council authorized the issuance of one or more series of its unlimited tax general obligation refunding bonds in an outstanding aggregate principal amount not to exceed $45,000,000 to refund all or a portion of the county's Unlimited Tax General Obligation Refunding Bonds, 2000 and Unlimited Tax General Obligation Bonds, 2001 (Harborview Medical Center), and
WHEREAS, the UTGO Bond Ordinance provided that such bonds may be publicly sold in one or more series, any of which may be sold in a combined offering with other bonds of the county, either by negotiated sale or by competitive bid, as determined by the Finance Director in consultation with the county's financial advisors, and
WHEREAS, the Finance Director has determined that a series of the bonds authorized pursuant to the UTGO Bond Ordinance, to be designated as the county's Unlimited Tax General Obligation Refunding Bonds, 2010, Series A (the "UTGO Bonds") be sold by competitive bid as provided herein, and
WHEREAS, $19,570,000 of the bonds authorized by the UTGO Bond Ordinance are currently outstanding. The aggregate principal amount of all such bonds (including the UTGO Bonds) to be outstanding on the date of issuance of the UTGO Bonds, computed as provided in the UTGO Bond Ordinance, will be $39,375,000, which amount does not exceed $45,000,000, and
WHEREAS, a preliminary official statement dated October 8, 2010, has been prepared for the public sale of the UTGO Bonds, the official notice of such sale dated October 8, 2010 (the "Notice"), has been duly published, and bids have been re...
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