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July 20,1988 , <br /> onved by councilmember Morrow,seconded by Councilmember Stephenson <br /> that the second reading of Council Bill 9887-79 is hereby declared <br /> the third and final reading and the City Clerk Is directed to call <br /> the roll fir the final disposition of the ordinance. <br /> AYES. tangos,Niue,Stephenson,Gipson,Morrow <br /> Or. Jonas <br /> NAYS: n1,1g:'""dd"dt 1 ' <br /> Ordinance No.1505-88 adopted. 11 <br /> r.n.36%painted <br /> wo.".t.rte..,VZTth;',%71f,','„Ltnh:r'ens'Grunt inonnn.bond <br /> I <br /> RESOLUTION-SALE OF BONDS <br /> neV l'gsg?Tft=m1IgnI0::7171:114:"ndnd"nnnn"dm"n""nn I <br /> b <br /> WHEREAS, the City of Everett, Washington (the "City"), by <br /> Ordinance 1505-88 passed and approved on July 20, 1988, authorized <br /> the sale and issuance of limited tax levy general obligation bonds <br /> of the city in the principal amount of 88,250,000(the mBonds")to <br /> provide funds necessary for the acquisition, development and <br /> Improvement of park and library facilities of the city;and <br /> WHEREAS, an official statement has been prepared for the <br /> public sale of the bonds to be issued,notice of such sale has been <br /> duly published and given as required by law and Ordinance No. <br /> 1505-88 and proposals have been received pursuant to such notice,and <br /> WHEREAS, the proposal of Merrill Lynch Capital Markets to ,IIP <br /> purchase the bonds is the best proposal received in acoordence With <br /> the terms and conditions of Ordinance No.1505-88 and the Notice of '1 !: <br /> Sale for sald bonds,and it is in the best interest of the city that IId I! ; <br /> the bonds be sold to such firm on the terms set forth in its <br /> proposal and as provided Ordinance No. 1505-88 and this <br /> resolution;and <br /> I <br /> .0th0rinE7X'sX11.":."%onTTI e7t;t11:hthtt ti7,egR g!1- <br /> thereon by adoption of a resolution: <br /> :Jqr <br /> NOW,THEREFORE THE CITY OF EVERETT DOES RESOLVE, <br /> Section 1. The bid of Merrill Lynch Capital Markets to ) : <br /> Purchase the bonds at the price and bearing the interest rates set <br /> forth in the bid form attached hereto as Exhibit A is hereby ,1 'ed <br /> accepted and the bonds shall bear the interest rates set forth <br /> therein. Said Exhibit A is hereby incorporated by reference as if ' <br /> fully set forth herein. <br /> Roll was called with all councilmembers voting yes. tf <br /> Motion carried. <br /> d, d <br />