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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />TUKWILA, WASHINGTON, AUTHORIZING THE ISSUANCE <br />AND SALE OF ONE OR MORE SERIES OF LIMITED TAX <br />GENERAL OBLIGATION AND REFUNDING BONDS OF THE <br />CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO <br />EXCEED $7,200,000 TO FINANCE AND/OR REIMBURSE <br />COSTS RELATED TO CAPITAL IMPROVEMENTS TO THE <br />CITY'S PUBLIC WORKS FACILITIES, TO REFUND CERTAIN <br />OUTSTANDING LIMITED TAX GENERAL OBLIGATION BONDS <br />OF THE CITY, AND TO PAY THE COST OF ISSUING THE <br />BONDS; PROVIDING THE FORM, TERMS AND COVENANTS <br />OF THE BONDS; DELEGATING THE AUTHORITY TO <br />APPROVE THE SALE OF THE BONDS; 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 in the best interest of the City to acquire, improve, develop and <br />equip certain capital improvements to the City's public works facilities (the "Project"); <br />and <br />WHEREAS, the City issued its Limited Tax General Obligation Refunding Bonds, <br />2011 on December 28, 2011, pursuant to Ordinance No. 2361 passed by the Council on <br />December 5, 2011 (the "2011 Ordinance"), in the original principal amount of <br />$4,620,000 (the "2011 Bonds"); and <br />WHEREAS, the 2011 Ordinance provides that the City may redeem the 2011 <br />Bonds maturing on or after December 1, 2022, on any date on or after December 1, <br />2021, in whole or in part, at the price of par plus accrued interest, if any, to the date of <br />redemption (the "2011 Refunding Candidates"); and <br />WHEREAS, the City issued its Limited Tax General Obligation Bond, 2014 <br />(Taxable), on December 16, 2014 pursuant to Ordinance No. 2465 passed by the <br />Council on December 1, 2014, as amended by Ordinance No. 2472 passed by the <br />Council on March 16, 2015 (as amended, the "2014 Ordinance," and together with the <br />CC:\Legislative Development\LTGO-Refunding Bond 2020—PW facilities 4-20-21 <br />VC:bjs Review and analysis by Barbara Saxton Page 1 of 13 <br />29 <br />