HomeMy WebLinkAbout2013-009CITY OF ARLINGTON, WASHINGTON
ORDINANCE NO. 2013-009
AN ORDINANCE OF THE CITY OF ARLINGTON, WASHINGTON,
AMENDING ITS ORDINANCE NO. 2013-007 TO CHANGE THE
MINIMUM SAVINGS FOR REFUNDING BONDS IN THE 2013 BOND
SALE.
THE CITY COUNCIL OF THE CITY OF ARLINGTON, WASHINGTON, DO
ORDAIN as follows:
Section 1. The City Council of the City of Arlington, Washington (the "City"), hereby
finds and determines that: (a) the City Council passed Ordinance No. 2013-007 on June 3, 2013,
authorizing the issuance of the City's Limited Tax General Obligation Refunding Bonds, 2013,
upon the finding of certain conditions (the `Bonds"); and (b) due to changes in market
conditions, it is necessary to amend Ordinance No. 2013-007 to change one of the conditions to
issuance of the Bonds.
Section 2. Section 4(i) of Ordinance No. 2013-007 is amended to read as follows
(str-ieken words are deleted and dQUble-underlined words are added):
Savings. There is a minimum net present value savings of 3.0"% of the
Refunded Bonds.
Section 3. This Ordinance shall take effect and be in force from and after its passage and
five days following its publication as required by law.
PASSED by the City Council and APPROVED by the Mayor of the City of Arlington,
Washington, at an open public meeting thereof, this 17th day of June, 2013.
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Mayor
ATTEST:
City k
APPROVED AS TO FORM:
Bond Counsel
CERTIFICATION
1, the undersigned, City Clerk of the City of Arlington, Washington (the "City"), hereby
certify as follows:
1. The attached copy of Ordinance No. 2013-009 (the "Ordinance") is a full, true and
correct copy of an ordinance duly passed at a regular meeting of the City Council of the City held
at the regular meeting place thereof on June 17, 2013, as that ordinance appears on the minute
book of the City.
2. The Ordinance will be in full force and effect five days after publication in the City's
official newspaper, which publication date was June 20, 2013.
3. A quorum of the members of the City Council was present throughout the meeting
and a majority of the members voted in the proper manner for the passage of the Ordinance.
Dated: June 20, 2013.
CITY OF ARLINGTON, ASHINGTON
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