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391 <br /> October 3,1990 <br /> pert of said acquisitions and improvements; providing the <br /> date, form, terms and maturities of said bonds;providing for <br /> the disposition of the proceeds of sale of such bonds; <br /> r <br /> providing for the annual levy of taxes to pay the principal <br /> of and interest of said bonds; and providing for the sale <br /> theeof. <br /> Moved by Councilman Overstreet,seconded by Councilman Diamond that <br /> this is declared to be the final reading of Council Bill No.909-69 <br /> end the City Clerk is directed to cell the roll foe the final <br /> disposition of the ordinance. <br /> AYES; ,Irs,12: :;tbiamond,Gipson,Morrow,Pope, <br /> Nn&FOr <br /> Ordinance No. 1740-90 <br /> adopted. <br /> RESOLUTION <br /> Proved by Councilman Overstreet, seconded by Councilman Morrow adopt <br /> Resolution No.3377 accepting a proposal for the purchase of limited <br /> tax levy general obligation bonds of the City in the principal <br /> amount 82,756,250, and fixing the interest rates of such bonds as <br /> follows: <br /> WHEREAS, the City of Everett, Washington (the "City"), by <br /> Ordinance No. 1740-90 passed and approved on October 3, 1990, <br /> authorized the sale and issuance of limited tax levy general <br /> obligations bonds of the City in the principal amount of 82,756,250 <br /> (the "Bonds") to provide funds necessary for the construction and <br /> equipping of parking for the main branch library;end <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 es required by law and Ordinance No. <br /> 1740-90 and proposals have been received pursuant to such notice;and <br /> WHEREAS, the proposal of Seattle-First National Bank & <br /> Associates to purchase the Bond is the best proposal received in <br /> accordance with the terms and conditions of Ordinance No. 1740-90 <br /> and the Notice of Sale for said Bonds, and it is in the best <br /> interest of the City that the Bonds be sold to such firm on the <br /> terms set forth in its proposal and as provided in Ordinance No. <br /> 1740-90 and this resolution;and <br /> WHEREAS, Ordinance No. 1740-90 provides that the City shall <br /> authorize the sale of the Bonds and establish the interest rates <br /> thereon by adoption of a resolution; <br /> NOW THEREFORE,the City of Everett does resolve; <br /> Section 1. The bid of Seattle-First National Bank&Assoc. <br /> to purcliFe7iNi-Bonds at the price and bearing Aire interest rates <br /> set forth in the bid form attached hereto as-Exhibit A is hereby <br /> accepted and the Bonds shall bear the interest rates set forth <br /> therein. Said Exhibit A is hereby incorporated by reference as Of <br /> fully set forth herein. <br />