SEATTLE CITY COUNCIL - Record No: CB 119110

• Record No: CB 119110
• Version: 2
• Council Bill No: CB 119110
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/20/2017
• Ordinance No: Ord 125456
• Title: AN ORDINANCE relating to contracting indebtedness; authorizing and providing for the issuance and sale of limited tax general obligation bonds to pay 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; amending Ordinance 125197 to rescind and reapprove the authorization for certain previously authorized but unissued debt; and ratifying and confirming certain prior acts.
• Sponsors: Lisa Herbold
• Supporting documents: 1. Summary and Fiscal Note v2, 2. Summary and Fiscal Note v1, 3. Signed Ord_125456, 4. Affidavit of Publication

Date	Ver.	Action By	Action	Result
11/28/2017	2	City Clerk	attested by City Clerk
11/28/2017	2	Mayor	returned
11/22/2017	2	Mayor	Signed
11/22/2017	2	City Clerk	submitted for Mayor's signature
11/20/2017	1	City Council	passed	Pass
11/20/2017	1	Select Budget Committee	pass as amended	Pass
10/23/2017	1	City Council	referred
10/19/2017	1	Council President's Office	sent for review
10/18/2017	1	City Clerk	sent for review
9/25/2017	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 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; amending Ordinance 125197 to rescind and reapprove the authorization for certain previously authorized but unissued debt; 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 certain capital Projects (as identified in this ordinance) be financed by the issuance of limited tax general obligation bonds of the City in principal amount not to exceed $87 million; and
WHEREAS, RCW 39.36.020 authorizes the City to incur indebtedness without 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% 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. As used in this ordinance, the following capitalized terms shall have the following meanings.
"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 Bond Documents for a Series.
"Beneficial Owner" means, with regard to a Bond, the owner of any beneficial interest in that Bond.
"Bond Counsel" means a lawyer or a firm of lawyers, selected by the City, of nationally recognized standing in matters pertaining to bonds issued by states and their political subdiv...