Drafter
Clerk 09/21/2015
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A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bonds, 2015, Series B (Federally Tax-Exempt), in the aggregate principal amount of $27,415,000, and establishing certain terms of such bonds in accordance with Ordinance 18090.
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WHEREAS, pursuant to Ordinance 18090 (the "Ordinance"), the county council authorized the issuance of one or more series of its limited tax general obligation bonds in an outstanding aggregate principal amount not to exceed $31,500,000 to provide long-term financing for all or part of the capital costs of the 420 Fourth Avenue Acquisition Project, the Archives Records Warehouse Lighting Project, the Eastside Rail Corridor Acquisition Project, the IT Projects, the Jail Toilet Controls Retrofit Project, the KCCF Lighting Retrofit Project, the MRJC Solar Project, the Orcas Fleet Management Facility Project, the RSD LED Conversion Project and the Solid Waste Lighting Project, as defined and described in the Ordinance, and
WHEREAS, the Ordinance provided that such bonds may be issued as Tax-Exempt Obligations or Taxable Obligations, and sold at public sale, either by negotiated sale or by competitive bid, in one or more series 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 such bonds, to be designated as the county's Limited Tax General Obligation Bonds, 2015, Series B (Federally Tax-Exempt), in the aggregate principal amount of $27,415,000 (the "2015B Bonds"), shall be issued as Tax-Exempt Obligations and sold to provide long-term financing for all or part of the capital costs of the 420 Fourth Avenue Acquisition Project, the Archives Records Warehouse Lighting Project, the Eastside Rail Corridor Acquisition Project, the IT Projects, the Jail Toilet Controls Retrofit Project, the KCCF Lighting Retrofit Project, the MRJC Solar P...
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