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Review of 2014 LTGO Bonds and Note <br />• In December 2014, the City issued its $2.25 million Limited Tax General Obligation Bond <br />Anticipation Note, 2014 (the "2014 Note") and $3.85 million Limited Tax General <br />Obligation Bonds, 2014 (the "2014 Bonds") <br />• Both were used to acquire properties along Tukwila International Boulevard (TIB) <br />• The 2014 Note has a final maturity of December 1, 2017 <br />• The 2014 Bond has a final maturity of December 1, 2034, and is subject to optional <br />redemption on December 1, 2019 <br />• At the time of issuance, the City anticipated using proceeds from the sale of the TIB <br />properties to repay the 2014 Note <br />• Properties are anticipated to be sold to a private party for new development <br />• However, the properties have not yet been sold <br />2 <br />