Snohomish County Council - File #: 2021-0796

• File #: 2021-0796
• Version: 1
• Type: Ordinance
• Status: Approved
• File created: 9/21/2021
• In control: Public Hearings
• On agenda: 10/20/2021
• Final action: 10/20/2021
• Title: Ordinance 21-074, related to the 2021 Budget; making supplemental appropriations in Airport Maintenance and Operation Fund 410 and Limited Tax Debt Service Fund 215 for receipt of a portion of the proceeds of the tax-exempt Limited Tax General Obligation Bonds, 2021 Series A, to refund a portion of the county's outstanding Limited Tax General Obligation Refunding Bonds, 2011 Series B, and to pay related bond sale and issuance costs

Date	Ver.	Action By	Action	Result
10/20/2021	1	Public Hearings	Approved	Pass
9/29/2021	1	General Legislative Session	Set time/date for Public Hearing
9/28/2021	1	Finance and Economic Development Committee	Moved to the GLS Regular Agenda
9/27/2021	1	Administrative Session	Assigned

Executive/Council Action Form (ECAF)

ITEM TITLE:

Title

Ordinance 21-074, related to the 2021 Budget; making supplemental appropriations in Airport Maintenance and Operation Fund 410 and Limited Tax Debt Service Fund 215 for receipt of a portion of the proceeds of the tax-exempt Limited Tax General Obligation Bonds, 2021 Series A, to refund a portion of the county’s outstanding Limited Tax General Obligation Refunding Bonds, 2011 Series B, and to pay related bond sale and issuance costs

body

DEPARTMENT:  Finance

ORIGINATOR:  Jim Woodard                     

EXECUTIVE RECOMMENDATION:  Approved Ken Klein 09/23/21

PURPOSE: To appropriate authority in the current year for the 2021A Bonds to refund a portion of the County’s 2011B Bonds, and to pay issuance costs

BACKGROUND: Click or tap here to enter text.

FISCAL IMPLICATIONS:

EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU	CURRENT YR	2ND YR	1ST 6 YRS
Airport fund 410, bond costs	2,000,000
Debt svc fd 215, payoff debt & bond costs	38,000,000
TOTAL	40,000,000

REVENUE: FUND, AGY, ORG, REV, SOURCE	CURRENT YR	2ND YR	1ST 6 YRS
Airport fund 410, bond proceeds	2,000,000
Debt svc fd 215, bond proceeds	38,000,000
TOTAL	40,000,000

DEPARTMENT FISCAL IMPACT NOTES:  Click or tap here to enter text.

CONTRACT INFORMATION:

ORIGINAL		CONTRACT#		AMOUNT
AMENDMENT		CONTRACT#		AMOUNT

Contract Period

ORIGINAL	START		END
AMENDMENT	START		END

OTHER DEPARTMENTAL REVIEW/COMMENTS:  Approved Finance Nathan Kennedy 09/23/21