Ordinance 2237-97 - Laserfiche WebLink

• ORDINANCE NO. AN ORDINANCE of the City of Everett, Washington, authorizing the issuance and sale of limited tax general obligation bonds of the City in the aggregate principal amount of$9,900,000 to pay a portion of the costs of redeveloping the City's Legion Park golf course and completing closure of the City's landfill; providing the date, form and redemption provisions of said bonds; providing for the disposition of the bond proceeds; providing for the annual levy of taxes to pay the principal of and interest on the bonds; and authorizing the sale of bonds. WHEREAS, the City of Everett, Washington (the "City") has determined that it is in the best interest of the City that the City redevelop the City's Legion Park golf course (the "Golf Course Project") and complete the closure of the City's landfill (the "Solid Waste Project") (together, the "Projects"); and WHEREAS, to finance the Projects the City intends to issue $9,900,000 of its limited tax general obligation bonds; and WHEREAS, the City has received an offer from Seafirst Bank to purchase the bonds authorized herein; NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN, as follows: Section 1. Definitions. The following words and terms as used in this ordinance shall have the following meanings for all purposes of this ordinance, unless some other meaning is plainly intended. "Arbitrage and Tax Certification" means the certificate executed by the City pertaining to the calculation and payment of any Rebate Amount with respect to the Bonds. "Bond Fund" means the "Limited Tax General Obligation Bond Redemption Fund, 1997" established pursuant to Section 8 hereof. "Bond Register" means the registration books maintained by the Bond Registrar for the purpose of identifying ownership of the Bonds.