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,DRAcT <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />TUKWILA, WASHINGTON, AUTHORIZING THE ISSUANCE OF <br />LIMITED TAX GENERAL OBLIGATION BONDS IN THE <br />AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED <br />$8,800,000 TO FINANCE COSTS RELATED TO STREET <br />IMPROVEMENTS AND PAYING COSTS OF ISSUING THE <br />BONDS; PROVIDING THE FORM, TERMS AND COVENANTS <br />OF THE BONDS; PROVIDING FOR THE DISPOSITION OF THE <br />PROCEEDS OF THE SALE OF THE BONDS; DELEGATING <br />AUTHORITY TO APPROVE THE METHOD OF SALE AND THE <br />FINAL TERMS OF THE BONDS; AND PROVIDING FOR <br />OTHER MATTERS RELATING THERETO; PROVIDING FOR <br />SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE. <br />WHEREAS, the City Council (the "Council ") of the City of Tukwila, Washington (the <br />"City ") has deemed it is in the best interest of the City to make certain street <br />improvements in the City (the "Project "); and <br />WHEREAS, after due consideration the Council has determined that it is in the <br />best interest of the City to authorize the issuance and sale of limited tax general <br />obligation bonds to pay all or a portion of the costs of the Project and to pay costs of <br />issuance for the Bonds; and <br />WHEREAS, the Council wishes to delegate authority to the Finance Director, or his <br />or her designee (the "Designated Representative "), for a limited time, to approve the <br />method of sale and the interest rates, maturity dates, redemption terms and principal <br />maturities for the bonds within the parameters set by this ordinance; and <br />WHEREAS, the Bonds shall be sold by negotiated or competitive public sale as set <br />forth herein; <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, <br />WASHINGTON, HEREBY ORDAINS AS FOLLOWS: <br />W: Word Processing \Ordinances \LTGO Bonds - Street improvements 5 -31 -17 <br />PM:bjs Page 1 of 16 <br />11 <br />