HomeMy WebLinkAboutRes 1322 - Proposed Issuance of Water and Sewer Revenue Bonds �...11LA
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Washington
Resolution No. 1322 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, RELATING TO THE
PROPOSED ISSUANCE OF WATER AND SEWER
REVENUE BONDS OF THE CITY, AUTHORIZING AND
DIRECTING THE CITY FINANCE DIRECTOR TO TAKE
CERTAIN ACTIONS WITH RESPECT TO THOSE BONDS.
WHEREAS, the City of Tukwila, Washington (the "City and the City of Seattle,
Washington "Seattle entered into two agreements dated March 29, 1995 (the "Transfer
Agreements under which Seattle has agreed to transfer to the City on or after January 1, 1996, all
rights and responsibilities to provide water and sewer service to certain areas of the City described
in the Transfer Agreements; and
WHEREAS, the City Council has determined that certain capital improvements to the
Waterworks Utility (the "Improvements are necessary to enable the City to provide water and
sewer services to the areas of the City described in the Transfer Agreements; and
WHEREAS, the City Council has determined that it is in the best interest of the City to issue
its water and sewer revenue bonds in the estimated principal amount of $4,500,000 to provide the
funds to pay part of the cost of the Improvements and pay the cost of issuance and sale of those
bonds;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY RESOLVES AS FOLLOWS:
Section 1. Definitions. As used in this resolution, the following words shall have the
following meanings:
"Bonds" shall mean the Water and Sewer Revenue Bonds, 1995, of the City in the
estimated principal amount of $4,500,000.
"City" shall mean the City of Tukwila, Washington, formerly the Town of Tukwila.
"Purchaser" shall mean the purchaser of the Bonds.
"Waterworks Utility" shall mean the waterworks utility of the City, including the
system of sewerage.
Section 2. Authorization to Deem Final the Preliminary Official Statement. For
the sole purpose of the Purchaser's compliance with Securities and Exchange Commission Rule
15c2- 12(b)(1), the City Council authorizes and directs the City Finance Director to on behalf of the
City, upon such official's satisfaction, "deem final" the preliminary official statement prepared in
connection with the issuance of the Bonds (the "Preliminary Official Statement as of its date,
except for the omission of information as to offering prices, interest rates, selling compensation,
aggregate principal amount, principal amount per maturity, maturity dates, options of
redemption, delivery date, ratings, bond insurance and other terms of the Bonds dependent on such
matters. The City Finance Director is further authorized and directed to execute any certificates
or other documents that may be required to "deem final" the Preliminary Official Statement.
Section 3. Effective Date of Resolution and of Declaration. This resolution and
declaration of official intent shall take effect and be in force immediately upon adoption of this
resolution.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at a regular
meeting thereof this 15th day of May, 1995.
Allan Ekberg, Council President
ATTEST /AUTHENTICATED:
an E. Cantu, City Clerk
APPROVED AS TO FORM:
Office of the City Attorney
Filed with the City Clerk:
Passed by the City Council:
Resolution Number