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December 11.2002 <br /> COUNCIL BILL NO.02-11-03 <br /> THIRD AND FINAL READING: <br /> AN ORDINANCE of the City of Everett,Washington,providing for the <br /> issuance and sale of limited tax general obligation and refunding <br /> bonds of the City in the principal amount of not to exceed <br /> $20,000,000 to provide funds for various capital purposes,to refund <br /> certain outstanding certificates of participation and limited tax <br /> general obligation bonds of the City and to pay costs of issuance on <br /> the bonds; providing for the disposition of bond proceeds; <br /> authorizing the appointment of an escrow agent and the execution of <br /> escrowan agreement related to such refunding;providing the form <br /> and terms of said bonds;authorizing a preliminary official statement; <br /> providing for the disposition of the proceeds of sale;and delegating <br /> authority to approve the final terms of said bonds. <br /> Moved by Council Member Pope,seconded by Council Member Olson <br /> that this is declared to he the third and final reading of Council Bill No.02- <br /> 11-63. <br /> Debra Bryant,Finance,gave a brief overview of the proposed ordinance. <br /> Jane Towery,Vice President of Northwest Public Financing,Bank of <br /> America,commented that it is an opportune time for the City of Everett to <br /> proceed with the bond issue tolock In low interest rates. <br /> The City Clerk was directed to call the roll for the final disposition of the <br /> ordinance. <br /> AYES: Krell,Olson,Hatloe,Gipson,Campbell,Pope <br /> NAYS: Overstreet <br /> Ordinance No.2663-02 adopted. <br /> 415 <br />