CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE amending Ordinance 127156, which adopted the 2025 Budget, including the 2025-2030 Capital Improvement Program (CIP); changing appropriations to various departments and budget control levels, and from various funds in the Budget; and ratifying and confirming certain prior acts; all by a 3/4 vote of the City Council.
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BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. In order to pay for the redemption prior to maturity of certain currently outstanding limited tax general obligation bonds of the City, appropriations for the following items in the 2025 Budget are increased from the funds shown, as follows:
Item
Department
Fund
Budget Summary Level/
BCL Code
Amount
3.1
Finance General
2017 LTGO Taxable Bond Fund (36410)
Appropriation to Special Funds (36410-BO-FG-2QA00)
$472,000
2018 LTGO Taxable Bond Fund (36510)
Appropriation to Special Funds (36510-BO-FG-2QA00)
$547,000
2019 LTGO Taxable Bond Fund (36610)
Appropriation to Special Funds (36610-BO-FG-2QA00)
$314,000
2021 LTGO Taxable Bond Fund (36820)
Appropriation to Special Funds (36820-BO-FG-2QA00)
$537,000
Unrestricted Cumulative Reserve Fund (00164)
Appropriation to Special Funds (00164-BO-FG-2QA00)
$1,345,000
REET I Capital Fund (30010)
Appropriation to Special Funds (30010-BO-FG-2QA00)
$285,000
Total
$3,500,000
The funds appropriated in this section are to be applied to the call, payment, and redemption prior to maturity of the City's remaining outstanding Limited Tax General Obligation Bonds, 2014, originally issued pursuant to Ordinance 124341, and to the payment of the costs of carrying out the foregoing plan of redemption, in order to permit a change in the use of certain bond financed property in accordance with federal tax law. The Director of Finance is authorized and directed to take all actions as the Director may deem necessary or convenient to carry out t...
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