HomeMy WebLinkAbout2003-09-08 Special MinutesTUKWILA CITY COUNCIL
September 8, 2003
Tukwila City Hall Council Chambers
SPECIAL MEETING MINUTES
CALL TO ORDER:
Calling the meeting to order at 8:50 p.m. was Mayor Steven M. Mullet.
ROLL CALL:
Calling the roll of Council was Barbara Saxton, Recording Clerk. Present were Council President Pam
Carter; and Councilmembers Joe Duffie, Joan Hernandez, Jim Haggerton, Pamela Linder, Dave Fenton
and Richard Simpson.
OFFICIALS:
Steven M. Mullet, Mayor; Rhonda Berry, Acting City Administrator; Lucy Lauterbach, Legislative Analyst;
Alan Doerschel, Finance Director; and Barbara Saxton, Recording Clerk.
UNFINISHED BUSINESS:
a. An ordinance relating to contracting indebtedness; Drovidina for the issuance of limited
tax aeneral obligation bonds re: Foster Golf Course Clubhouse
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
RELATING TO CONTRACTING INDEBTEDNESS; PROVIDING FOR THE ISSUANCE OF
$9,850,000 PAR VALUE OF LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 2003A
OF THE CITY FOR GENERAL CITY PURPOSES TO PROVIDE FUNDS WITH WHICH TO
REIMBURSE ITSELF FOR A PART OF THE COST OF TRANSFERING CERTAIN PROPERTY
BETWEEN THE CITY AND KING COUNTY, TO PAY OR REIMBURSE ITSELF FOR A PART OF
THE COST OF MAKING VARIOUS ARTERIAL STREET IMPROVEMENTS, TO REDEEM THE
CITY'S OUTSTANDING LIMITED TAX GENERAL OBLIGATION BOND ANTICIPATION NOTE,
2000 (FOSTER GOLF COURSE) FOR OTHER CITY PURPOSES, AND TO PAY THE COSTS OF
ISSUANCE OF THE SERIES 2003A BONDS; PROVIDING FOR THE ISSUANCE OF $2,200,000
PAR VALUE OF LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 2003T (TAXABLE) OF
THE CITY FOR GENERAL CITY PURPOSES TO PROVIDE FUNDS WITH WHICH TO MAKE
CERTAIN IMPROVEMENTS TO THE FOSTER GOLF COURSE CLUBHOUSE AND TO PAY THE
COSTS OF ISSUANCE OF THE SERIES 2003T (TAXABLE) BONDS; FIXING THE DATE,
FORM, MATURITIES, INTEREST RATES, TERMS AND COVENANTS OF THE BONDS;
ESTABLISHING A 2003A BOND FUND, A 2003T BOND REDEMPTION ACCOUNT, A 2003A
PROJECT ACCOUNT AND A 2003T PROJECT ACCOUNT; PROVIDING FOR THE PURCHASE
OF BOND INSURANCE; AND APPROVING THE SALE AND PROVIDING FOR THE DELIVERY
OF THE BONDS TO LEHMAN BROTHERS INC. OF SEATTLE, WASHINGTON.
DUFFIE MOVED; HERNANDEZ SECONDED; TO READ THE PROPOSED ORDINANCE BY TITLE
ONLY. The motion carried 7 -0.
Rhonda Berry, Acting City Administrator, read the title of the proposed ordinance.
DUFFIE MOVED; CARTER SECONDED; TO ADOPT THE PROPOSED ORDINANCE AS READ.
The motion carried 7 -0.
APPROVED ORDINANCE #2027
b. Authorize Mayor to sign a Bond Purchase Contract between Lehman Brothers. Inc., and
the City of Tukwila, for $9,850,000.00 Limited Tax General Obliaation Bonds, Series
2003A: and $2,200,000.00 Limited Tax General Obliaation Bonds Series 2003T (Taxable)
CARTER MOVED; FENTON SECONDED; TO AUTHORIZE THE MAYOR TO SIGN A BOND
PURCHASE CONTRACT BETWEEN LEHMAN BROTHERS, INC., AND THE CITY OF TUKWILA,
City of Tukwila Page 2 of 2
City Council Special Meeting Minutes September 8, 2003
FOR $9,850,000.00 LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 2003A; AND
$2,200,000.00 LIMITED TAX GENERAL OBLIGATION BONDS SERIES 2003T (TAXABLE).
The motion carried 7 -0.
APPROVED CONTRACT #AG 03 130
ADJOURNMENT:
8:55 p.m.
6 tv")
MAYOR MULLET ADJOURNED THE SPECIAL MEETING TO RECONVENE THE
COMMITTEE OF WHOLE IN ORDER TO CONSIDER REPORTS.
The motion carried 7 -0.
4
Steven M. Mullet, Mayor Barbara Saxton, Recordirfg Clerk
Date minutes approved: September 15, 2003