2016/10/19 Council Agenda Packet

1 Principal Balance Date of Original (December 31, Issue Amount Bond Holder/Program Lender 2015) PWTF Northend Basement Sewer Flooding 05/04/01 $ 1,881,000 Reduction $ 594,000 PWTF Phase 5 Replacement Transmission 05/04/01 4,369,454 Lines 2 and 3 1,340,925 PWTF Pumped Effluent to Deepwater 05/19/03 5,490,000 Outfall 2,318,000 PWTF Transmission Lines No 2&3 06/30/03 841,670 Replacement Phase VI 359,309 04/15/05 10,000,000 PW 1'14 Treatment Plant Upgrade 5,277,778 PWTF Water Pollution Control Facility 06/14/06 7,000,000 Expansion Phase a 4,052,632 PWTF Water Pollution Control Facility 07/07/11 10,000,000 Expansion 9,323,120 01/01/11 62,063 City of Mukilteo Annexation 22,763 01/01/11 80,932 City of Mukilteo Annexation 52,751 Qualified Insurance means any non-cancelable municipal bond insurance policy or surety bond issued by any insurance company licensed to conduct an insurance business in any state of the United States (or by a service corporation acting on behalf of one or more such insurance companies)which insurance company or companies, as of the time of issuance of such policy or surety bond, are currently rated in one of the two highest Rating Categories by any Rating Agency. Qualified Letter of Credit means any irrevocable letter of credit issued by a financial institution for the account of the City on behalf of registered owners of Parity Bonds, which institution maintains an office, agency or branch in the United States and as of the time of issuance of such letter of credit, is currently rated in one of the two highest Rating Categories by any Rating Agency. Rate Covenant means Net Revenue in each fiscal year at least equal to 125% of the amounts required in such fiscal year to be paid as scheduled debt service (principal and interest) on all Parity Bonds, subtracting from scheduled debt service the amount of ULID Assessments collected in such year. Furtheiuiore, in deteituining compliance with the Rate Covenant, Net -14i P:120287 CMW120287 BN9 10/11/16