King County - File #: 2003-0055

• File #: 2003-0055
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 2/18/2003
• In control: Budget and Fiscal Management Committee
• Final action: 3/10/2003
• Enactment date: 3/24/2003
• Enactment #: 14583
• Title: AN ORDINANCE providing for the issuance of unlimited tax general obligation refunding bonds of the county in an outstanding aggregate principal amount not to exceed $120,000,000 for the purpose of providing funds to refund, on a current basis, all or a portion of the county's outstanding Unlimited Tax General Obligation Refunding Bonds, 1993 Series C; 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: Larry Phillips
• Indexes: Bonds, Finance

Date	Ver.	Action By	Action	Result
3/10/2003	2	Metropolitan King County Council	Hearing Held
3/10/2003	2	Metropolitan King County Council	Passed	Pass
3/5/2003	2	Budget and Fiscal Management Committee	Recommended Do Pass Substitute	Pass
3/5/2003	1	Budget and Fiscal Management Committee	Amended	Pass
2/18/2003	1	Metropolitan King County Council	Introduced and Referred

Drafter
Clerk 03/05/03
title
AN ORDINANCE providing for the issuance of unlimited tax general obligation refunding bonds of the county in an outstanding aggregate principal amount not to exceed $120,000,000 for the purpose of providing funds to refund, on a current basis, all or a portion of the county's outstanding Unlimited Tax General Obligation Refunding Bonds, 1993 Series C; 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.

body

TABLE OF CONTENTS

Page
SECTION 1. Definitions|913|
SECTION 2. Findings|913|
SECTION 3. Purpose, Authorization and Description of Bonds; Use of Depository|913|
SECTION 4. Optional Redemption of Bonds 10
SECTION 5. Notice and Effect of Redemption 11
SECTION 6. Form of Bonds 13
SECTION 7. Execution of Bonds 20
SECTION 8. Bond Registrar 21
SECTION 9. Mutilated, Lost, or Destroyed Bonds 23
SECTION 10. Covenants and Warranties 23
SECTION 11. Refunding Plan 25
SECTION 12. Application of Bond Proceeds 29
SECTION 13. Bond Redemption Fund 29
SECTION 14. Pledge of Taxation and Credit 30
SECTION 15. Tax Exemption 31
SECTION 16. Arbitrage Rebate 32
SECTION 17. Sale of Bonds 32
SECTION 18. Delivery of Bonds 34
SECTION 19. Preliminary Official Statement Declaration 34
SECTION 20. Approval of Official Statement 35
SECTION 21. Undertaking to Provide Ongoing Disclosure 35
SECTION 22. General Authorization 35
SECTION 23. Refunding or Defeasance of the Bonds 36
SECTION 24. Open Market Purchase 37
SECTION 25. Contract; Severability 37


ORDINANCE


AN ORDINANCE providing for the issuance of unlimited tax general obligation refunding bonds of the county in an outstanding aggregate principal amount not to exceed $120,000,000 for the purpose of providing funds to...