RESOLUTION 31751
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A RESOLUTION relating to contracting indebtedness; confirming, ratifying and approving certain terms of the issuance and sale of The City of Seattle, Washington, Limited Tax General Obligation Improvement Bonds, 2017A, Limited Tax General Obligation Improvement and Refunding Bonds, 2017B (Taxable), and Unlimited Tax General Obligation Refunding Bonds, 2017 for the purposes set forth in Ordinances 125197 and 121651 (as amended by Ordinance 122286 and amended and restated by Ordinance 124343); confirming, ratifying and approving actions taken and to be taken and agreements entered into and to be entered into with the Seattle-Chinatown International District Preservation and Development Authority to provide for the refunding (pursuant to a refunding trust agreement with a refunding trustee) of certain outstanding bonds guaranteed by the City, and with the Seattle Opera for the use of bond proceeds for the replacement of the Mercer Arena; and confirming ratifying and approving the official notice of bond sale and other actions of the Director of Finance and other City officials relating to the issuance and sale of the various series of bonds to their purchasers.
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WHEREAS, pursuant to Ordinance 125197 (the "LTGO Authorizing Ordinance"), the City authorized the issuance and sale of not to exceed $139 million of its limited tax general obligation bonds in one or more series to pay or reimburse all or part of the cost of the City projects identified in that ordinance, to refund certain outstanding City-guaranteed bonds, to pay or reimburse costs of certain capital projects (including City contributions to a nonprofit entity, the Seattle Opera, for the reconstruction of the Mercer Arena) and to pay the costs of issuance and sale of those bonds, and for other City purposes approved by ordinance; and
WHEREAS, pursuant to Ordinance 122452 the City previously entered into a Bond Payment Guaranty Agreement with Seattle-Chinatown International Dist...
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