CITY OF SEATTLE
RESOLUTION 31771
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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, Municipal Light and Power Improvement and Refunding Revenue Bonds, 2017C, for the purposes set forth in Ordinance 125198 and in Ordinance 124335 (as amended by Ordinance 124916); confirming, ratifying and approving actions taken and to be taken to provide for the refunding of certain outstanding bonds of the Light System of the City; confirming, ratifying and approving the notice of bond sale and other actions taken and to be taken in connection with the issuance of the bonds and their sale to the purchaser; and ratifying and confirming the actions of the Director of Finance and other City officials relating to the issuance and sale of the bonds.
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WHEREAS, pursuant to Ordinance 125198 (the "New Money Ordinance"), the City authorized the issuance and sale of not to exceed $275 million of its Light System revenue bonds in one or more series: (a) to pay part of the cost of carrying out the Plan of Additions (as defined in the New Money Ordinance); (b) to provide for a deposit to the Reserve Fund, if necessary; (c) to capitalize interest on, if necessary, and pay the costs of issuance of the bonds; and (d) for other Light System purposes approved by ordinance; and
WHEREAS, pursuant to Ordinance 124335 (as amended by Ordinance 124916) (the "Omnibus Refunding Bond Ordinance"), the City authorized the issuance of Light System revenue bonds for the purpose of, among other things, paying all or a part of the costs of refunding certain of the City's outstanding Light System revenue bonds; and
WHEREAS, the City previously issued its Municipal Light and Power Improvement and Refunding Revenue Bonds, 2011A, which were authorized pursuant to Ordinance 123483, Ordinance 121941 (as amended by Ordinance 122838) and Resolution 31263 (the "Refunded Bond Legislation"), and reserve...
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