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December 3.2003 <br /> COUNCIL BILL NO,0311-64 <br /> SECOND THIRD AND FINAL READINGS: <br /> AN ORDINANCE of the Cly of Everett,Washington,providing <br /> for the issuanceand sale of a 2003 limited tax genual <br /> obligationrefunding note In the principal amount of <br /> $3,000,000;authorizing the Issuance and sale of a 2004 limited <br /> tea general obligation note in the aggregate principal amount <br /> of$2,000,000 for the purpose of establishing a revolving line of <br /> credit to provide funds to finance capital expenditures of the <br /> City from time to time pending receipt of the proceeds of other <br /> obligations and to pay the cost of issuing such notes; <br /> providing the dates,forms,and repayment terms of the notes; <br /> providing for the annual levy of taxes to pay the principal of <br /> and interest on the notes;authorizing the sale of the notes; <br />• and amending Section 2 of Ordinance No.2663-03 to allow,If <br /> sufficient,proceeds from the City's 2003 Limited Tax General <br /> Obligation and Refunding Bonds to be used for general capital <br /> purposes for the City <br /> Debra Bryant,Finance Director,gave a brief overview of the proposed <br /> ordinance. <br /> Moved by Council Member Pope,seconded by Council Member Krell that I <br /> this H declared to be the third and final reading of Council Bill No.031164 <br /> and the City Clerk is directed to call the roll for the final disposition of the <br /> ordinance. <br /> AYES: Krell,Olson,Hatloe,Gipson,Campbell,Pope,Overstreet <br /> NAYS: None <br /> Ordinance No.2737-03 adopted. <br />