Ordinance 2663-02 - Laserfiche WebLink

Allow .7 ORDINANCE NO. 2663-02 AN ORDINANCE OF THE CITY OF EVERETT, WASHINGTON, PROVIDING FOR THE ISSUANCE AND SALE OF LIMITED TAX GENERAL OBLIGATION AND REFUNDING BONDS OF THE CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $20,000,000 TO PROVIDE FUNDS FOR VARIOUS CAPITAL PURPOSES, TO REFUND CERTAIN OUTSTANDING CERTIFICATES OF PARTICIPATION AND LIMITED TAX GENERAL OBLIGATION BONDS OF THE CITY AND TO PAY COSTS OF ISSUANCE ON THE BONDS; PROVIDING FOR THE DISPOSITION OF BOND PROCEEDS; AUTHORIZING THE APPOINTMENT OF AN ESCROW AGENT AND THE EXECUTION OF AN ESCROW AGREEMENT RELATED TO SUCH REFUNDING; PROVIDING THE FORM AND TERMS OF SAID BONDS; AUTHORIZING A PRELIMINARY OFFICIAL STATEMENT; PROVIDING FOR THE DISPOSITION OF THE PROCEEDS OF SALE; AND DELEGATING AUTHORITY TO APPROVE THE FINAL TERMS OF SAID BONDS. WHEREAS, the City of Everett, Washington (the "City") is acquiring, constructing and equipping a public space building adjacent to the Everett Special Events Center and contributing funds to pay for certain public improvements and upgrades at the Everett Special Events Center (the "Project"); and WHEREAS, the City is authorized by RCW chs. 35A.40 and 39.46 to borrow money and issue general obligation bonds to finance the costs of the Project; and WHEREAS, it is in the best interest of the City to issue limited tax general obligation bonds in the aggregate principal amount of $15,000,000 (the "Improvement Bonds") in order to obtain long term financing for the Project; and WHEREAS, there are now outstanding Certificates of Participation, 1993, issued pursuant to a Council Resolution No. 3493 and a Trust Agreement between Seattle-First National Bank, as Trustee, and Seattle-First National Bank, as Underwriter, under date of July 21, 1993, in