SEATTLE CITY COUNCIL - Record No: CB 120439

• Record No: CB 120439
• Version: 2
• Council Bill No: CB 120439
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/29/2022
• Ordinance No: Ord 126714
• Title: AN ORDINANCE relating to contracting indebtedness; authorizing and providing for the issuance and sale of limited tax general obligation bonds to pay or reimburse all or part of the costs of various elements of the City's capital improvement program and for other City purposes approved by ordinance and to pay the costs of issuance of the bonds; providing parameters for the bond sale terms including conditions, covenants, and other sale terms; creating the 2023 Multipurpose LTGO Bond Fund (Taxable) and the Enhanced Facility Fee Reserve Fund; and ratifying and confirming certain prior acts.
• Sponsors: Teresa Mosqueda
• Supporting documents: 1. Summary and Fiscal Note v2, 2. Summary and Fiscal Note, 3. Signed Ordinance 126714, 4. Affidavit of Publication

Date	Ver.	Action By	Action	Result
12/2/2022	2	City Clerk	attested by City Clerk
12/2/2022	2	Mayor	returned
12/2/2022	2	Mayor	Signed
12/1/2022	2	City Clerk	submitted for Mayor's signature
11/29/2022	2	City Council	passed	Pass
11/21/2022	1	Select Budget Committee	pass as amended	Pass
10/18/2022	1	City Council	referred
10/12/2022	1	Council President's Office	sent for review
10/12/2022	1	City Clerk	sent for review
9/27/2022	1	Mayor	Mayor's leg transmitted to Council

CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to contracting indebtedness; authorizing and providing for the issuance and sale of limited tax general obligation bonds to pay or reimburse all or part of the costs of various elements of the City's capital improvement program and for other City purposes approved by ordinance and to pay the costs of issuance of the bonds; providing parameters for the bond sale terms including conditions, covenants, and other sale terms; creating the 2023 Multipurpose LTGO Bond Fund (Taxable) and the Enhanced Facility Fee Reserve Fund; and ratifying and confirming certain prior acts.
body
WHEREAS, The City of Seattle, Washington (the "City"), has determined that it is in its best interest that the capital projects described in this ordinance (the "Projects") be financed by the issuance of limited tax general obligation bonds of the City in a principal amount not to exceed $127.9 million; and
WHEREAS, the City owns the Seattle Aquarium facility located on Piers 59 and 60 along the Seattle Central Waterfront and recognizes the importance of the Seattle Aquarium (the "Aquarium") for its national and regional standing in the areas of scientific research, marine conservation education, and civic engagement, and its value as a visitor destination. The Seattle Aquarium Society has managed aspects of Aquarium operations since the 1980s and assumed full management responsibility in 2010 under an Operations and Management Agreement, originally approved pursuant to Ordinance 123205 and amended in 2022 pursuant to Ordinance 126655; and
WHEREAS, in conjunction with the development of the Ocean Pavilion expansion of the Aquarium facility, the City and SEAS in 2019 entered into a Funding Agreement pursuant to Ordinance 126015, which was amended in 2022 pursuant to Ordinance 126655. Pursuant to the Funding Agreement, the City agreed to providing funding for up to $34 million of capital costs...