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ip�k <br />{' f� �.. 435 <br />..:101,�.. October 31,1990 <br /> AGREEMENT-RESTRUCTURING ESCROW ACCOUNTS <br /> Byron Vigor, Treasurer, told the councilmen that Kirshner Sacks <br /> Securities has comep with a-plan whereby certain government <br /> securities now held in escrow accounts for the 1985 and 1988 <br /> refunding water end sewer bonds would be replaced by higherbaseielding <br /> unties. The transaction would result in a on gross <br /> savings to the City's utilities of approximately S33,000. The <br /> transaction would be monitored by our financial advisor, Seattle <br /> Northwest Securities and we would S <br /> receive an opinion the <br /> transaction from our bond council, Preston, Tsorgrimsn, Shiblexn <br /> Gates and Elite. The financial Pig would also be verified by a <br /> accounting firm. After paying all costs involved, the City's <br /> utilities should show a net savi g of approximately 395,000. <br /> I I He also told ca uncilmembers tM1 t ting fees, legal and bank <br /> (� I fees would haveto be paid by the City and emphasized that the <br /> evings figures given wereapproximate figures. <br /> ' i seconded byCouncilman Overstreet to <br /> authorize <br /> by the <br /> Moser.of the 1985 d 1988 refunding water and <br /> sewerxize the Cructrow a <br /> kl i`Ip sewerm bond issues escrow accounts and authorize the Mayo[ to ding <br /> f € documents necessary oto wc°mplete a restructuring of the refunding <br /> 4�k <br /> R'1I' Roll was called with all councilmen voting Yes. <br /> Notion carried. <br /> 11 <br /> RESOLUTION-HAS.PARK BOG <br /> ��' I I Application hes been made t0 the Snohomish County Conservation <br /> I tC� (1 Futures fund to acquire property adjacente to Kasch Park that <br /> 1 <br /> contains portions of the catch Park bog. This weland is a <br /> it significant environmentally sensitive area worthy of public <br /> ownership and protection. <br /> 1 I ' The County apPllcati0n process quires ie solution P[om Ctty <br /> i' 1 Council endorsing tM1e acquisition oP the project parcel. <br /> �0�. Moved by Councilman Overstreet, seconded by ouncanOs ntnohumiah <br /> �� m to <br /> adopt Resolution Na. 3390 authorizing application <br /> i County for Conservation Futures Funds for acquisition of portions of <br /> the Kasch Park Bog es follows: <br /> r MHEecit, the carpets City Council acknosladgets the City for <br /> pxeaexvetion o4 environmentally densities areas ° <br /> I Everett:end <br /> wHEREAS� tlex the provisions oP the Conservati F u <br /> { 1 1 Pxggram cunt Puntling essistence has been auNOrizetl tl'made <br /> vailableC td' Stl S�Cive�anclnB a M1ae cost o4 lantl acq i iti n Sn <br /> environmentally sense exeas� n <br /> MHEREAS�the City Council aP:: City of Everett consitlers it <br /> ins The best public interest td acquire environmentally sensitive <br /> areas in the City of Everett and; <br /> l k NHEREASV the City c13recognizes tna tett sch Paxk bog <br /> is a unique en ixonmen[el amenity t°the City 0 <br /> 1 <br />