SEATTLE CITY COUNCIL - Record No: CB 120683

• Record No: CB 120683
• Version: 1
• Council Bill No: CB 120683
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/21/2023
• Ordinance No: Ord 126938
• 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 2024 Multipurpose LTGO Bond Fund; amending Ordinance 123751 (as previously amended by Ordinances 124341 and 124637), Ordinance 124341, Ordinance 124637, Ordinance 124924 (as previously amended by Ordinance 125986), Ordinance 125456, Ordinance 125715 (as previously amended by Ordinance 125986), and Ordinance 126219 (as previously amended by Ordinances 126288 and 126479); and ratifying and confirming certain prior acts.
• Sponsors: Teresa Mosqueda
• Supporting documents: 1. Summary and Fiscal Note, 2. Signed Ordinance 126938, 3. Affidavit of Publication

Date	Ver.	Action By	Action	Result
12/1/2023	1	City Clerk	attested by City Clerk
12/1/2023	1	Mayor	returned
12/1/2023	1	Mayor	Signed
11/29/2023	1	City Clerk	submitted for Mayor's signature
11/21/2023	1	City Council	passed	Pass
11/14/2023	1	Select Budget Committee	pass	Pass
10/24/2023	1	City Council	referred
10/19/2023	1	Council President's Office	sent for review
10/18/2023	1	City Clerk	sent for review
9/26/2023	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 2024 Multipurpose LTGO Bond Fund; amending Ordinance 123751 (as previously amended by Ordinances 124341 and 124637), Ordinance 124341, Ordinance 124637, Ordinance 124924 (as previously amended by Ordinance 125986), Ordinance 125456, Ordinance 125715 (as previously amended by Ordinance 125986), and Ordinance 126219 (as previously amended by Ordinances 126288 and 126479); 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 $84.2 million; and
WHEREAS, RCW 39.36.020 authorizes the City to incur indebtedness without the assent of the voters of the City so long as such indebtedness does not result in a total nonvoted indebtedness of the City in excess of 1.5 percent of the value of taxable property within the City as computed in accordance with RCW 39.36.030; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Definitions. In this ordinance, the following capitalized terms shall have the meanings set forth in this section.
"Authorized Denomination" means $5,000 or any integral multiple thereof within a maturity of a Series, or such other minimum authorized denominations as may be specified in the applicable Bond Do...