Resolution 4173 - Laserfiche WebLink

/4111 RESOLUTION NO. 4173 ` El/E/FETT A RESOLUTION of the City Council of the City of Everett, Washington, accepting a proposal for the purchase of limited tax levy general obligation refunding bonds of the City in the principal amount of$17,865,000, and fixing the interest rates of such bonds. WHEREAS, the City of Everett, Washington (the "City"), by Ordinance No. 2098-95 passed and approved on September 27, 1995, authorized the sale and issuance of limited tax levy general obligation refunding bonds of the City not to exceed $18,500,000 in principal amount (the "Bonds") to provide funds necessary to refund certain outstanding limited tax general obligations of the City; and WHEREAS, the proposal of Seattle-Northwest Securities Corporation and associates to purchase the Bonds has been received in accordance with Ordinance No. 2098-95 , and it is in the best interest of the City that the Bonds be sold on the terms set forth in such proposal and as provided in Ordinance No.2098-95nd this resolution; and WHEREAS, Ordinance No.2098-95 provides that the City shall authorize the sale of the Bonds and establish the principal amount, interest rates and redemption provisions thereof by adoption of a resolution; NOW, THEREFORE, the City of Everett does resolve: Section 1. Principal Amount. The principal amount of the Bonds shall be $17,735,000. Section 2. Redemption. Bonds maturing after 2007 shall be subject to redemption as provided in Section 3 of Ordinance No. 2098-95 Section 3. Sale of Bonds. The proposal of Seattle-Northwest Securities Corporation and associates to purchase the Bonds at the price and bearing the interest rates set forth in the purchase offer attached hereto as Exhibit A is hereby accepted and the Bonds shall mature in such amounts, at such times and shall bear the interest rates set forth therein. Exhibit A is hereby incorporated by reference as if fully set forth herein.