1991/03/27 Council Minutes - Laserfiche WebLink

P II! 147 CMarch 27,1991 BUDGET AMENDP.NT-ATHLETIC FIELDS 1' Moved by Councilman Pope, seconded by Councilman Diamond to approve a budget amendment in the amount of $12,000 for athletic field preparation and maintenance at Fasch Park and Welter E.Hall Park. , The source of the funds will be fees collectod from user groups. C Roll was called with all councilmen voting yes. Motion carried. BUDGET AMENDMENT-WALL STREET BUILDING Moved by Councilman Gipson, seconded'y Councilman Diamond to approve a budget amendment in the amo, of$1,200,760 nor Wall Street Building issuance costs and open_ions. Bill Cushman, Director of Finance, asked that this item be delayed. ( RESOLUTION-WALL STREET BUILDING Moved by Councilman Gipson, seconded by Councilman Pope to adopt Resolution No. 3451 accepting the proposal of Seattle-Northeest Securities Corporation to finance the lease purchase of the Wall Street Building as follows: WHEREAS, the City of Everett, Washington (the ^City"), by Ordinance No. 1774-91 of the City, has authorized the acquisition of the Wall Street Building located in the City by means of a lease with option to purchase (the ^Lease") that would be financed by the issuance of certificates of participation in the Lease pursuant to a Trust Agreement (the "Trust Agreement") between Seattle-Northwest Securities Corporation (the ^Underwriter") and Seattle-First National Bank,as trustee(the^Trustee"):and WHEREAS, Ordinance No. 1774-91 approved the forms of the Lease and the Trust Agreement and required the Underwriter to submit to the City, for approval by resolution of the City Council, a proposal for acquiring the Lease and certificates of Participation therein specifying rates of interest for payments to be made by the City under the Lease;and