Ordinance 3700-19 - Laserfiche WebLink

APPENDIX B Notice of Defeasance* City of Everett, Washington Limited Tax General Obligation Refunding Bonds,2014 NOTICE IS HEREBY GIVEN to the owners of that portion of the above-captioned bonds with respect to which, pursuant to an Escrow Agreement dated October _, 2019, by and between City of Everett Washington (the "City") and U.S. Bank National Association, Seattle, Washington (the "Escrow Agent"), the City has deposited into an escrow account, held by the Escrow Agent, cash and non-callable direct obligations of the United States of America, the principal of and interest on which, when due, will provide money sufficient to pay each year, to and including the respective maturity or redemption dates of such bonds so provided for, the principal thereof and interest thereon (the "Defeased Bonds"). Such Defeased Bonds are therefore deemed to be no longer outstanding pursuant to the provisions of Ordinance No. 3405- 14 of the City, authorizing the issuance of the Defeased Bonds, but will be paid by application of the assets of such escrow account. The Defeased Bonds are described as follows: Limited Tax General Obligation Refunding Bonds, 2014 (Dated October 30, 2019) Maturity Years Principal CUSIP Call Date (December 1) Amounts Interest Rates Nos. (@ 100%) 2034 $25,630,000 VR 300011NM1 12/01/2019 Information for Individual Registered Owner The addressee of this notice is the registered owner of Bond Certificate No. of the Defeased Bonds described above, which certificate is in the principal amount of $ All of which has been defeased as described above. * This notice shall be given immediately by first class mail to each registered owner of the Defeased Bonds. In addition notice shall be mailed to The Depository Trust Company of New York, New York; U.S. Bank National Association, as Fiscal Agent; S&P Global Ratings, New York, New York, J.P. Morgan Securities and to the Municipal Securities Rulemaking Board. Page 1—Appendix B 502395238 v2