SEATTLE CITY COUNCIL - Record No: CB 118825

• Record No: CB 118825
• Version: 1
• Council Bill No: CB 118825
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/21/2016
• Ordinance No: Ord 125183
• Title: AN ORDINANCE relating to the municipal water system of The City of Seattle; adopting a system or plan of additions or betterments to and extensions of the existing municipal water system; authorizing the issuance and sale of water system revenue bonds, in one or more series, for the purposes of paying part of the cost of carrying out that system or plan, providing for the reserve requirement, and paying the costs of issuance of the bonds; providing for certain terms, conditions, covenants, and the manner of sale of the bonds; describing the lien of the bonds; creating certain accounts of the City relating to the bonds; amending certain definitions set forth in the Omnibus Refunding Bond Ordinance relating to municipal water system refunding revenue bonds; and ratifying and confirming certain prior acts.
• Sponsors: Tim Burgess
• Supporting documents: 1. Ex A - Outstanding Water Parity Bonds, 2. Summary and Fiscal Note, 3. Signed Ordinance 125183, 4. Affidavit of Publication

Date	Ver.	Action By	Action	Result
11/28/2016	1	City Clerk	attested by City Clerk
11/28/2016	1	Mayor	Signed
11/28/2016	1	Mayor	returned
11/22/2016	1	City Clerk	submitted for Mayor's signature
11/21/2016	1	City Council	passed	Pass
11/16/2016	1	Select Budget Committee	pass	Pass
11/7/2016	1	City Council	referred
10/20/2016	1	Council President's Office	sent for review
10/7/2016	1	City Clerk	sent for review
9/26/2016	1	Mayor	Mayor's leg transmitted to Council

CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the municipal water system of The City of Seattle; adopting a system or plan of additions or betterments to and extensions of the existing municipal water system; authorizing the issuance and sale of water system revenue bonds, in one or more series, for the purposes of paying part of the cost of carrying out that system or plan, providing for the reserve requirement, and paying the costs of issuance of the bonds; providing for certain terms, conditions, covenants, and the manner of sale of the bonds; describing the lien of the bonds; creating certain accounts of the City relating to the bonds; amending certain definitions set forth in the Omnibus Refunding Bond Ordinance relating to municipal water system refunding revenue bonds; and ratifying and confirming certain prior acts.
body
WHEREAS, The City of Seattle, Washington ("City"), owns, maintains, and operates a municipal water system as part of Seattle Public Utilities ("Municipal Water System"), which Municipal Water System has from time to time required various additions, improvements, and extensions; and
WHEREAS, the City needs to acquire and construct certain additions and betterments to and extensions of the Municipal Water System as set forth in this ordinance ("Plan of Additions"); and
WHEREAS, the City previously issued its water system revenue bonds described in Exhibit A to this ordinance ("Outstanding Parity Bonds") and pursuant to the bond legislation for each such issue of Outstanding Parity Bonds permitted, upon satisfaction of certain conditions ("Parity Conditions"), the future issuance of additional bonds having a charge and lien on the net revenue of the Municipal Water System on a parity of lien with those Outstanding Parity Bonds; and
WHEREAS, pursuant to the Omnibus Refunding Bond Ordinance (defined in Section 1 of this ordinance), the City has provided for the refunding of certain...