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HomeMy WebLinkAboutRes 1134 - 1990 Unilimited Tax General Obligation (GO) Bonds ILA 1906 CITY OF TUKWILA WASHINGTON RESOLUTION NO. 1134 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, ADOPTING A SCHEDULE OF EXPENDITURE OF BOND PROCEEDS RECEIVED FROM KING COUNTY FOR THE ACQUISITION OF OPEN SPACE PROJECTS. WHEREAS, the City anticipates receiving approximately $2,269,023 of principal proceeds of the "King County, Unlimited Tax General Obligation Bonds (Open Space), 1990" for the purpose of acquiring certain open space projects, and WHEREAS, in order to provide the County with reliable information on the expenditure of such bond proceeds, it is necessary for the City Council to adopt a resolution establishing and approving an expenditure schedule for such proceeds so that the county may rely on such schedule in complying with applicable tax exempt bond provisions of the Internal Revenue Code of 1986, as amended. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, DO HEREBY RESOLVE AS FOLLOWS: That the expenditure schedule for the proceeds of the "King County, Unlimited Tax General Obligation Bonds (Open Space), 1990," to be received by the City attached hereto as Exhibit A is approved and adopted as such expenditure schedule for the City for the E of King County's compliance with applicable tax exempt bond provisions (including Sections 103 and 148) of the Internal Revenue Code of 1986, as amended. PASSED BY THE CITY COUNCIL. OF THE CITY OF 7UKWHA WASHINGTON, at a regular meeting thereof this --S day of l-," 1990. �dan Hernandez, Council PresideW ATTEST /AUTHENTICATED: Makin Anderson, City Clerk PROVED AS TO F RM: 4 -Y OFFICE OF THE4ATTO Filed with the City Clerk: 9D Passed by the City Council:,, 3 __5 90 Resolution Number 11 SUBURBAN CITIES OPEN SPACE PROGRAM QUARTERLY CASH FLOW PROJECTIONS EXHIBIT A QUARTER 1st /90 2nd /90 3rd /90 4th /90 1st/91 2nd/91 3rd/91 4th/91 1st/92 2nd/92 3rd/92 4th/92 PROJECT PHASE TOTALS Bond Proceeds Cash Flows 3228,630 3228,630 Administration 2,500 2,500 PROJECT PHASES Acquisition 226,130 226,130 CITY OF: PROJECT: BOND PROCEEDS* ALLOCATED BOND PRINCIPAL: Design Ex 1-i i 3 I T 4‘ TUKWILA Mapletree Hill Greenbelt 3228,630 3216,488 Construction Total 2,500 226,130 228,630 *NOTE: "BOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, and by the rate of spending. SUBURBAN CITIES OPEN SPACE PROGRAM CITY OF: TUKWILA QUARTERLY CASH FLOW PROJECTIONS PROJECT: Macadam Wetland EXHIBIT A BOND PROCEEDS* $391,634 ALLOCATED BOND PRINCIPAL: $370,835 QUARTER 1st /90 2nd /90 3rd /90 4th /90 1st/91 2nd/91 3rd/91 4th/91 1st/92 2nd/92 3rd/92 4th/92 PROJECT PHASE TOTALS Bond Proceeds Cash Flows Administration Acquisition Design Construction Total $391,634 10,000 $391,634 10,000 PROJECT PHASES 381,634 391,634 381,634 391,634 NOTE: "BOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, and by the rate of spending. SUBURBAN CITIES OPEN SPACE PROGRAM CITY OF: TUKWILA QUARTERLY CASH FLOW PROJECTIONS PROJECT: Southgate Park Greenbelt EXHIBIT A BOND PROCEEDS* $30,696 ALLOCATED BOND PRINCIPAL: $29,065 QUARTER 1st /90 2nd /90 3rd /90 4th /90 1st/91 2nd/91 3rd/91 4th/91 1st/92 2nd/92 3rd/92 4th/92 PROJECT PHASE TOTALS $30,696 $30,696 PROJECT PHASES Bond Proceeds Cash Flows Administration Acquisition Design Construction Total 30,696 30,696 30,696 30,696 *NOTE: "BOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, and by the rate of spending. SUBURBAN CITIES OPEN SPACE PROGRAM CITY OF: TUKWILA QUARTERLY CASH FLOW PROJECTIONS PROJECT: Riverton Greenbelt EXHIBIT A BOND PROCEEDS* $153,478 ALLOCATED BOND PRINCIPAL: $145,327 QUARTER 1st /90 2nd /90 3rd /90 4th /90 1st/91 2nd/91 3rd/91 4th/91 1st/92 2nd/92 3rd/92 4th/92 PROJECT PHASE TOTALS Bond Proceeds Cash Flows Administration Acquisition Design Construction Total $153,478 5,000 P R O J E C T P H A S E S 148,478 153,478 $153,478 5,000 148,478 153,478 *NOTE: "BOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, and by the rate of spending. SUBURBAN CITIES OPEN SPACE PROGRAM CITY OF: TUKWILA QUARTERLY CASH FLOW PROJECTIONS PROJECT: Duwamish /Green River Trail Lots EXHIBIT A BOND PROCEEDS* $465,727 ALLOCATED BOND PRINCIPAL: $440,993 QUARTER 1st /90 2nd /90 3rd /90 4th /90 1st/91 2nd/91 3rd/91 4th/91 1st/92 2nd/92 3rd/92 4th/92 PROJECT PHASE TOTALS Bond Proceeds Cash Flows Administration Acquisition Design Construction Total $465,727 4,000 4,000 PROJECT PHASES 150,000 307,727 154,000 311,727 $465,727 8,000 457,727 465,727 *NOTE: "BOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, and by the rate of spending. SUBURBAN CITIES OPEN SPACE PROGRAM' QUARTERLY CASH FLOW PROJECTIONS EXHIBIT A CUARTER 1st /90 2nd /90 Kent Tukwila 3rd/90 Kent Tukwila 4th /90 Kent Tukwilo 1st/91 Kent Tukwila 2nd/91 Kent Tukwila 3rd/91 Kent Tukwila 4th/91 Kant Tukwila 1st /92 Kent Tukwila 2nd/92 3rd/92 4th /92 Bond Proceeds Cash Flows Administration Acquisition Design Construction Tote( 8125,523 $115,868. $103,881 $95,891 1103,881 895,891 $209,927 $193,778 $209,927 $193,778 $112,538 $103,881 $112,538 $103,881 $103,881 895,891 500 1,000 1,000 3,000 3,000 CITY OF: PROJECT: PROJECT PHASES KENT TUKWILA Interurban Regional Trails Project Kent Tukwila BOND PROCEEDS* 51,082,096 t998,858 ALLOCATED BOND PRINCIPAL: 11,024,627 $945,810 5,000 30,000 60,000 20,000 5,000 5,000 100,000 400,000 365,358 5,000 30,500 61,000 121,000 408,000 373,358 PROJECT $2,080,955 865,358 998,858 PNA1E TOTAL= easaaassaasasaaaaa WOMBS aaaaaass ::aaaaaa>aaaaaaaa N 12 MUNE aaa KENT PROCEED$s $1,082,097 TUKWILA PROCEEDS: 8998,858 8,500 125,000 865,358 998,858 *NOTE: "FOND PROCEEDS" equals the total allocated bond principal plus the expected interest earnings. Actual earnings will be determined by the bond sale, end by the rate of spending.