1990/10/03 Council Minutes - Laserfiche WebLink

. . 390 • • October 3,1990 . RESOLUTION iMoved by Councilman Gipson, seconded by Councilman Overstreet to 1 adopt Resolution Na.3376 accepting a proposal for the purchase of limited tax levy general obligation bonds of the City in the principal amount of $5,304,000, and fixing the interest rates of such bonds as follows: WHEREAS, the City of Everett, Washington (the "City"), by Ordinance No. 1739-90 passed and approved on October 3, 1990, I, authorized the sale and issuance of limited tax levy general obligations bonds of the City in the principal amount of$5,34,000 (the "Bonds") to provide funds necessary for the construction and equipping an addition to the main branch library;and •m I- , WHEREAS, an official statement has been prepared for the II public sale of the Bonds to be issued,notice of such sale has been duly published and given as required by law and Ordinance No. 1739-90 and proposals have been received pursuant to such notice;and 4 WHEREAS, the proposal of Merrill Lynch Capital Markets to purchase the Bonds is the best proposal received in accordance with the terms and conditions of Ordinance No. 1739-90 and the Notice of •• Sale for said Bonds, and it is in the best interest of the City that .. ,• the Bonds be sold to such firm or the terms set forth in its H proposal and es provided in Ordinance No. 1739-90 and this resolution;and ri • . WHEREAS, Ordinance No. 1739-90 provides that the City shall authorize the sale of the Bonds and establish the interest rates k , : thereon by adoption of a resolution; NOW,THEREFORE,the City of Everett does resolve; Section 1. The bid of Merrill Lynch Capital Markets to purchase the Bonds at the price end bearing the interest rates set forth in the bid form attached hereto as Exhibit A is hereby accepted end the Bonds shall bear the interest rates set forth ' • therein. Said Exhibit A is hereby incorporated by reference as if '• fully set forth herein. of Ever:NPLEITse:rdec=r0:oebter,91990r°City Council of the City • .• Roll was called with all councilmen voting yes except Councilman ,• . Kuser who was excused. . , • Motion carried. COUNCIL BILL 909-69 . ., • . , FINAL READING: AP AN ORDINANCE of the City Council of Everett, Washington, adopting and authorizing a plan of Lcquisitions and improvementAfor library facilities of the City, providing • for the issuance and sale of limited tax levy general .' obligation bon8s of the City in the Principal emont Of , . • $2,756,250,for the purpose of providing funds to pay foe ., 2 3 ' I 1 ry .. 1