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File #: 2009-0561    Version:
Type: Motion Status: Passed
File created: 9/21/2009 In control: Budget and Fiscal Management Committee
On agenda: Final action: 12/14/2009
Enactment date: Enactment #: 13100
Title: A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series A, in the aggregate principal amount of $9,480,000, accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series B (Taxable), in the aggregate principal amount of $17,615,000, and establishing certain terms of such notes in accordance with Ordinance 16681.
Sponsors: Julia Patterson, Larry Gossett, Dow Constantine
Indexes: Bonds
Attachments: 1. Mot 13100.pdf, 2. 10-14-09 Staff Report with attachments, 3. 10-7-09 Staff Report with attachments, 4. 2009-0561 2 Attachment to letter GR Flood Supplemental Summary 9 15 09 xls.pdf, 5. 2009-0561 3 3951 Fiscal Note 9 15 (2).xls, 6. 2009-0561 5 WTD Green River Flood Planning Financial Plan 9 16.xls, 7. 2009-0561 Fiscal Note.xls, 8. 2009-0561 Transmittal Letter.doc, 9. A. Official Notice of Sale King County, Washington Limited Tax General Obligation Bond Anticipation Notes, 10. B. Citigroup Global Markets Inc. - New York, NY's Bid King County $9,640,000 Limited Tax General Obligation Bond Anticipation Notes, 2009 Series A, 11. C. J.P. Morgan Securities Inc. - New York, NY's Bid King County $17,710,000 Limited Tax General Obligation Bond Anticipation Notes, 2009 Series B
Drafter
Clerk 12/14/2009
Title
A MOTION of the county council accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series A, in the aggregate principal amount of $9,480,000, accepting a bid for the purchase of the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series B (Taxable), in the aggregate principal amount of $17,615,000, and establishing certain terms of such notes in accordance with Ordinance 16681.
Body
WHEREAS, pursuant to Ordinance 16681 (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 $29,000,000 to provide long-term financing for the Green River Flood Mitigation Project, defined and described in the Ordinance, 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 $29,000,000 to provide interim financing for such project pending the issuance of the bonds, and
WHEREAS, the Ordinance provided that such bond anticipation notes may be 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 advisor, and
WHEREAS, the Finance Director has determined that a series of such bond anticipation notes, to be designated as the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series A, in the aggregate principal amount of $9,480,000 (the "Series A Notes"), be sold as provided herein, and
WHEREAS, the Finance Director has determined that a second series of such bond anticipation notes, to be designated as the county's Limited Tax General Obligation Bond Anticipation Notes, 2009, Series B (Taxable), in the aggregate principal amount of $17,615,000 (the "Series B Notes" ...

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