Ordinance 3837ORDINANCE NO. 3837
AN ORDINANCE of the City of Edmonds, Washington,
relating to contracting indebtedness; providing for the issuance of
limited tax general obligation bonds and revenue bonds to provide
the funds necessary to carry out a refunding of all or a portion of
certain outstanding general obligation bonds and revenue bonds of
the City and to pay the administrative costs of such refundings and
the costs of issuance and sale of the bonds; fixing certain terms and
covenants of the bonds; and providing for the public sale of the
bonds.
Passed February 15, 2011
This document prepared by:
Foster Pepper PLLC
I I I I Third A venue, Suite 3 400
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Section l .
Findings and Determinations . ......::........................... .......: .......1
Section 2_.
Definitions ...............:.... ............. .......... .....:.>........ ,..,.,:., .....,.., .........2
Section 3 .
Authorization of the Bonds., ..... .».:...,..,.., ......... ,........ ___ ...... .....; ...........4
Section 4 .
Description of the Bonds,.,...# .... ... :. ...... . ...........__.., ......t. ........,, ,......::, ..........
4
Section 5 .
Duties of Bond Registrar ......................:........................... w.,..,. „ ........
Section 6 .
Registration and Transfer of Bonds................................................................
5
Section 7 .
Payment of Bonds..............................................................
Section 8 .
Redemption Provisions and Open Market Purchase of Bonds.....,.:. ....... .........___6
Section 9 .
Notice of Redemption ................................ ............. ..
6=
Section 10 .
Failure To Redeem Bonds.......... ..... ....... .........:.,.,.,,..,,.,.
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Section 11 .
Security for the Bonds ............................. ....... .,,.,.......; ..
_ "
Section 12 .
Form and Execution of Bonds ................ .................. ........ ... ...
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Section 13 .
Preservation of Tax Exemption for Interest on Bonds..... ......... .....:..........
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Section 14 .
Designation of Bonds as "Qualified Tax -Exempt Obligations."..,..,,.,,..............
Section 15 .
Refunding or Defeasance of the Bonds .................. .,........... ,a.,.......................,..,.9
Section 16.
Bond Fund; Deposit of Bond Proceeds ...............«.......,......, .,..,..,,......,.. ,,..,:1
Section 17 .
Refunding of the Refunded Bonds
Section 18 .
Preliminary Official Statement Deemed Final ............ ____ ,,,«. ;.., ...,.; .........
12'
Section 19 Undertaking to Provide Continuing Disclosure.........;. _ ................ ........ . .....012'
Section 20 . Sale of the Bonds; Bond Sale Resolution; Form and Execution of
Documents ....................,. ,..-:.........
Section 21 .: General; Authorization .............M,.w. ,..,,., ........: <..,,.......,...,.,.,, ...
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Section 22 Severability ......................... ................ ............... .
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Section 23 . Effective Date of Ordinance,,., .... ....... ....... :.......:.......... .... .... . . ........—... 4
1
CITY OF • !
ORDINANCE • 8
AN ORDINANCE of of s • .Washington,
relating to contracting indebtedness; providing • of
fundslimited tax general obligation bonds and revenue bonds to provide
the • carry out • • of or portion of
certain outstanding general obligation bonds and revenue bonds of
the City • to pay the administrative • of • :. •'
coststhe of • sale of bonds; fixin• certain terms and
covenants of the bonds; and providing for the public sale of the
♦ .
THE CITY COUNCIL OF THE CITY OF EDMONDS, VY AS INGTON, DOORDAIN
AS FOLLOWS:
Section •
City) the City Council finds and determines it to be in the best interest of the City to authorize the
issuance • sale of bonds forpurposes of . • out the refunding of or portion of
following •• • "Refunded Bonds"). • to pay the costsof . of • •
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51 120514....4
Section 2. Definitions; As used in this ordinance, the following words shall have the
following meanings:
(a) "1998 LTGO Bonds" means the City's $4,480,000 Limited Tax General
Obligation Refunding Bonds, 1998, authorized by Ordinance No. 3235, passed on December 15
1998.
•, 111998 Revenue Bonds" , i 111 par value Water and Sewer
Revenue Refunding Bonds, 1998, authorized by Ordinance No. 3191, passed on February 17,
•
"2001A Bonds"/. 11t Limited Tax General Obligation
Bonds, 2001, authorized by Ordinance No. 3372, passed on August 21, 2001.
r Il i' Bonds" 61110 Limited Tax General Obligation
Bonds,00 - C authorized by Ordinance • •c: passed on December i/'
"Acquired Obligations"-. • -r States Treasury Certificates of
Indebtedness, • - and • • and Local Government Series • other direct,
noricallable obligations of the United States of America purchased to accomplish the refunding
of Refunded Bonds.
"Bond r" means a special fund for the payment of principal of • interest
on of • • designated in the relevant Bond Sale Resolution.
(g) "Bond Legislation" means, for each series of Bonds, this ordinance and the
relevant :• • Sale Resolution.
containingister" means the books or records maintained by the Bond Registrar
and •mailing address of owner of i•i • . • the principal amount
. • number of Bonds held by each owner.
"Bond Sale Resolution" means . resolution adopted by •
date,the •rates,• covenants of of • • and
approving • '.: • r
(k) "Bonds" means the Bonds authorized by this ordinanc
(1) "City" means the City of •: • •: • •
(in) "Code" means the United States Internal Revenue Code of 1986, as amended, and
applicable rules and regulations promulgated thereunder.
means
(o) Government Obligations" has the meaning given in chapter 39.54 RC, as it
now exists or may hereafter be amended.
r"FinanceDirector" Director of
(q) "Fiscal Agent" means the fiscal agent of the State, as the same may be designated
by • to
(r) "Letter of Representations" means the Blanket Issuer Letter of Representations
dated August 6, 1996, between the City and DTC, as it may be amended from time to time.
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51120514.4
(t) "Permitted Investments" means any investment that is a legal investment for
cities in the State.
"Ratingng Agenrating agency or agencies, if
any, providing a rating on the Bonds at the request of the City�
(v) "Refunded Bonds" means all or a portion of the callable maturities of the 1998
LTGO Bonds,••8 Revenue Bonds,10Bonds or 2001BBonds identified in Section•
this ordinance, as further identified in a Bond Sale Resolution.
O "Refunded Bond Ordinance(s)" means the following City ordinances, as
applicable:
Bond Issue Ordinance No.
1998 Limited Tax General Obligation Bonds 3235
1998 Water & Sewer Revenue Bonds 3191
2001A Limited Tax General Obligation Bonds 3372
2001B Limited Tax General (Obligation Bonds 3388
(x) "Refunding Bonds" means the Bonds issued pursuant to this ordinance and a Bon
Sale Resolution, for the purpose of refunding all or a portion of any of the Refunded Bonds.
(Y) "Refunding Plan" means the refunding of all or a portion of the Refunded Bond
through the issuance of one or more series of Bonds, all as more particularly describe in a Bon
Sale Resolution.
(z) "Refunding Trust Agreement" means a refunding trust or escrow agreemen
between the City and a Refunding Trustee, dated as of the closing date of such series, providin
for the safekeeping of certain Bond proceeds and the refunding of all or a portion of th
Refunded • `• • •s, substantially in the form attached to the Bond • .'. Resolution •
applicable series of Bonds,
(aa) "Refunding Trustee" means for each series of Bonds issued for the purpose o
carrying out a refunding, the Finance Director, or the trustee or escrow agent, or any successo
trustee or escrow agent, designated by the Finance Director and approved in the applicable Bon
Sale Resolution.
(bb) "Revenue Obligation" means any series of Bonds issued for the purpose o
providing funds to refund the 1998 Refunded Revenue Bonds and secured by a pledge o
Revenues of the System pursuant to Section 11 of this ordinance.
(cc) "SEC" means the United States Securities and Exchange Commission.
(dd) "State" means the State of Washington.
(cc) "Term Bond" means those a Bond designated as suchin a Bond Sale Resolution,
(ff) "ULID" means utility local improvement district
(gg) "ULID Assessments" means the assessments • in such ULID of the City
which may hereafter be created pursuant to state law and shall include installments thereofand
interest • any penalties thereom
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Section 3. Authorization of the Bonds. The City shall borrow money on the credit of
the City f issue negotiable"f tax general obligation bonds evidencing indebtedness,
provide d for purposes described in SectionBonds maybe issued in any
combination or as multiple i. . Director • t . • directed to
Exceptr,,q)in -he terms of which sale
shall be subject to approval by the City Council in one or more Bond Sale Resolutions. No
Bonds may be issued and sold except pursuant to a Bond Sale Resolution approving the terms of
such sale.
as provided below, the Bonds . be issued as general obligation bonds t the
general indebtedness so incurred shall be within the limit of up to 11/2% of the value of the
taxable property within the City permitted for general municipal purposes Without a vote of the
qualified voters therein� One or more series of Bonds issued to refund 1998 Revenue Bonds,
may be issued as Revenue Obli�4ations and may be secured by a pledge of the Revenue of the
System as set forth under Section I I of this ordinance. The Bond Sale Resolution may set forth
additionalf covenants relating to Revenue Obligations that the City C
Mayor,deems necessary and appropriate to carry out the purposes of this ordinance�
The s and other proper City officials are , a ed and directed
to •d everything necessary ford delivery of Bonds (subject • approval
inconsistentof the terms of such Bonds in a Bond Sale Resolution), and for the proper application and use of
the proceeds of the sale thereof. The actions heretofore taken in furtherance of and not
purposes of ordinance are hereby-• and con irmer
multipleSection 4. ))6�gj'pfion of the BOnds. The Bonds shall be dated the date of thei
delivery to the initial purchaser. They shall be issued in denominations of $5,000 or any integra
-•, within a singled numbered separately in the manner and with an
additional designation as the Bond Registrar deems necessary for purposes of identification. Th
Bonds shall mature on the dates and in the amounts, bear interest payable on the dates and at th
rates, and shall contain such additional terms as specified in the Bond Sale Resolution. Th
Bonds shall be subject to optional or mandatory redemption, purchase or defeasance on the term
•' specified • d • • or • • Bonds •,.
designated as Term Bonds, the principal of which is payable in mandatory redemption amoun
prior to their stated maturity, all as specified by the Bond Sale ResolutionThe final maturity o
any series of Bonds shall not extend beyond the calendar year of the final maturity of the bond
to be d-• by
Section 5. Duties of Bond Registr � The Bond Registrar shall keep, or cause to be
kept, sufficient books for the registration and transfer of the Bonds, which shall be open to
inspection by the City at all times. The Bond Registrar is authorized, on behalf of the City, to
authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of the
Bonds t this ordinance, to serve - payingagent forBonds and to carry out all of
the Bond Registrar's powers and duties underordinance . • City OrdinanceNo. 2451
establishing a system of registration for the City's bonds and obligations.
The Bond Registrar shall be responsible for its representations contained in the Bond
Registrar's Certificate of Authentication on the Bonds. The Bond Registrar may become the
owner of Bonds with the same rights• • have if it were notBond Registrar f
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extent permitted by law, may act as depository for and permit any of its officers or directors to
act as members of, or in any other capacity with respect to, any committee formed to protect the
rights of Bond owners.
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Section 7. Pqyment Of Bonds.Both principal of and interest on the Bonds shall •,'
payable in lawful money of the United States of America, Interest on the Bonds shall be paid by
checks or drafts of the Bond Registrar mailed on the interest payment date to the registered
owners at the addresses appearing on the Bond Register on the 15th day of the month preceding
the interest payment date or, if requested in writing by a registered owner of $ 1,000,000 or more
in principal • of Bondsprior to the applicable record date, by wire transfer on
payment datcPrincipal of the Bonds shall be payable upon presentation and surrender of the
Bonds by the registered owners to the Bond Registrar. Notwithstanding the foregoing, for as
long as the Bonds are registered in the name of DTC or its nominee, payment Of principal of and
interest on the Bonds be ,•- in the manner set forthof Representations.
Section 9;, Notice of Redemption. While the Bonds are held by DTC in book -entry
only form,of redemption shall •• given at the time, to the entity . • in the manner
required by DTC in accordance with the Letter of Representations, and the Bond Registrar shall
not be required to give any other notice of redemption. If the Bonds cease to be in book -entry
only form, the City shall cause notice of any intended redemption of Bonds to be given by the
Bond Registrar not less than 20 nor more than 60 days prior to the date fixed for redemption by
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first-class mail, postage prepaid, to the registered owner of any Bond to be redeemed at the
address appearing on the Bond Register at the time the Bond Registrar prepares the notice, and
the requirements of this sentence shall be deemed to have been fulfilled when notice has been
mailed as so provided, or not. ` f by the owner of any Bond�
In the case of an optional redemption, the notice may state that the City retains the right
to rescind the redemption notice and the related optional redemption of Bonds by giving a notice
of rescission to the affected registered owners at any time prior to the scheduled optional
redemption date. Any notice of optional redemption that is so rescinded shall be of no effect,
and the Bonds for which the notice of optional redemption has been rescinded shall remain
outstanding.
Interest on Bonds called for redemption shall cease to accrue on the date fixed for
redemption unless the Bond or Bonds called are not redeemed when presented pursuant to the
call. In addition, the redemption notice shall be mailed within the same period, postage prepaid,
• the MSRB, to a Rating Agency,. • to such other persons and with such additional
information as the Finance• but these additional mailings• be a
condition precedent t• the redemptionof i• •
Section 10. Failure To Redeem Bonds. If any Bond is not redeemed when properly
presented at its maturity or call date, the City shall be obligated to pay interest on that Bond from
the sources identified in the Bond Sale Resolution at the same rate provided in the Bond from
. • after its maturity or calldate until that Bond,both principal and interest, is paid in full or
until sufficient money for its payment in full is on deposit in the Bond Fund and the Bond has
been called for payment by giving notice of that call to the registered owner thereof.
86tff��. Security for the i • l
(a) General Obligation Bonds. For as long as any of the Bonds issued as limited tax
general obligation bonds are outstanding, the City irrevocably pledges to include in its budget
• levy taxes annually within the constitutional•' statutory tax limitationsprovided by law
without a vote•' the electorsof the City on all of the taxableproperty .,
amount sufficient, together with other money legally available and to be used therefor, to pay
when due the principal of and interest on those general obligation Bonds, and the full faith, credit
and resources of the City are pledged irrevocably for the annual levy and collection of those
taxes and the prompt payment of that principal and interest.
(b) Revenue Obligations. The Bond Sale Resolution may provide that, for as long as
any Bonds issued as Revenue Obligations are outstanding, the City pledges all Revenue of the
System to the payments required to be made into the Bond Fund under the Bond Sale Resolution,
Such Revenue Obligations shall constitute a charge and lien upon that Revenue of the System
prior and superior to all other charges and liens whatsoever, excluding Operating and
Maintenance Expenses, except that the charge and lien upon that Revenue of the System shall be
on . parity with the charge • lien uponthat Revenue of the System . • upon
Assessments thereafter pledged to be paid into the Bond Fund for the Outstanding Parity Bonds
• any Future ParityBonds.
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Sedi6n I . Form pLnd��&g�ibh • Bonds. The Bonds shall be prepared in a •
consistent with the provisions of this ordinance and state law and shall be signed by the Mayor
and City Clerk, either or both of whose signatures may be manual or in facsimile, and the seal of
the City • a facsimile reproduction thereof shall be impressed • printed `•
Only Bonds bearing a Certificate of Authentication, manually signed by the Bond
Registrar, shall be valid or obligatory for any purpose or entitled to the benefits of this ordinance,
stating: "This Bond is one of the fully registered City of Edmonds, Washington, [NAME OF
SERIES OF BONDS], described in the Bond Legislation." The authorized signing of a
Certificate • Authentication shall •- conclusive evidence that the Bond so authenticated has
been duly executed, authenticated and delivered and is entitled to the benefits of this ordinance.
if any officer whose facsimile signature appears on the Bonds ceases to be an officer of
the City authorized to sign bonds before the Bonds bearing his or her facsimile signature are
may be authenticated, issued and delivered and, when authenticated ' issued and delivered, s a
be as binding on the City as though that person had continued to be an officer of the City
authorized to sign bonds. Any Bond also may be signed on behalf of the City by any person
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51120514A
• on actual date of • • of i• • is an officer of • '• to sign bonds,
Section
Section 14. Designation -of Bonds as "Qualified Tax-Ek&m6f Obligations." The City
has determined and certifies that (a) the Bonds are not "private activity bonds" within t e
meaning of Section 141 of the Code; (b) the reasonably anticipated amount of tax-exempt
obligations (other than private activity bonds and other obligations not required to be included in
such calculation) which the City and any entity subordinate to the City (including any entity that
the City controls, that derives its authority to issue tax-exempt obligations from the City, or that
issues tax-exempt obligations on behalf of the City) will issue during the calendar year in which
the Bonds are issued will not exceed $ 10,000,000; and (c) the amount of tax-exempt obligations,
including the Bonds, designated by the City as "qualified tax-exempt obligations" for the
purposes of • • • of • during the calendar• •
issued does not exceed $10,000,000. The City designates the Bonds as "qualified tax-exempt
•• • for - purposes of • s • of ••.
SecjjqqjjRefunding or Defeasance of the Bonds. The City may issue refunding
bonds pursuant to the laws of State or •available from any other lawful sourceto
pay when due the principal of r interest on Bonds, or portion thereoff •
in a
then -
outstanding :• • (hereinafter • •- -. -• :• • and to pay the costsof
refundingthe or defeasance. If moneyand/or "g• - •• • •. • in chapter
3M3 RCW, as now or hereafter amended) maturing at a time or times and bearing interest in
amounts (together with money, if necessary) sufficient to redeem and retire, refund or defease
the defeased Bonds in accordance with their terms are set aside in a special trust fund or escrow
account irrevocably pledged to that redemption, retirement or defeasance of defeased Bonds
(hereinafter called the "trust account"), then all right and interest of the owners of the defeased
Bonds in the covenantsof ordinance • in the fundsand accounts obligated to the payment
of defeased Bonds shall cease and become void. The owners of defeased Bonds
rightthe • receive payment of principal of • interest on defeased Bonds fr•
account,•` in the refundingor defeasance plan such provisions
deems necessary for the random selection of any defeased Bonds that constitute less than all of a
particular maturity of the Bonds, for notice of the defeasance to be given to the owners of the
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51120514-4
replacementdefeased Bonds and to such other persons as the City shall determine, and for any required
of Bond certificates fordefeased Bonds.
After the establishing and full funding of such a trust account, the defeased Bonds shall
• " deemed nolonger outstanding, .: apply . • • •I or
• ':established + • r the payment or redemptionof h _ defeased Bonds to any 1.wful purposes
as it shall determine, subject only to the rights of the owners of any other Parity Bonds then
outstanding . defeased Bonds Revenue Obligations.
If the refunding plan provides that the defeased Bonds or the refunding bonds to e issue
be secured by money and/or Government Obligations or other Permitted Investments pending the
prior redemption of the defeased Bonds and if such refunding plan also provides that certain money
and/or GovernmentObligations or other Pennitted Investments are • `aged irrevocably forprior
redernittion of defeased Bonds included in that refunding plan,only debt service on
Bonds which are not defeased Bonds and the refunding bonds, the payment of which is not so
secured by the refunding plan, shall be included in the computation of coverage ratios for purposes
of + the Coverage Requirement for the issuance of Parity Bonds • f the annual
computation of • .• for determining compliance with the rate covenants.
noticesIf the Bonds are registered in the name of DTC or its nominee, notice of any defeasance
of Bonds shall be given to DTC in the manner prescribed in the Letter of Representations for
of '•' r • of Bonds.
Section 16. Bond Fund; Deposit of Bond Proceeds.
(a) Bond Fund. Each Bond Sale Resolution shall provide for the creation or
designation of a Bond Fund for the purpose of paying principal of and interest on the relevant
series of Bonds. All taxes collected for (and, as to any Bonds issued as Revenue Obligations, the
revenues collected and allocated • payment of principal of • interest on i• •
shall be deposited - Bond •
• Deposit of Bond Proceeds.The principal proceeds an• premium,- -•i
Sectionfrom the sale and delivery of the Bonds shall be deposited, invested and used in accordance with
the applicable Refunding Plan set forth in the Bond Sale Resolution and in accordance with
of • •
(a) Appointment of Refundinp- Trustee, Authorization for Refundin Trus
Agreement. The Bond Sale Resolution shall describe the Refunding Plan and provide for th
appointment of a Refunding Trustee, which may be the Finance Director or an independen
trustee, to carry out Refunding Plan. Refunding connection • r i
Bonds, the Mayor and Finance Director are authorized and directed to execute and deliver to th
Refunding •- • • approved Bon
Resolution, i duties, obligationsand fa • f' Refundin
Sale •'
Trustee in i • payment,'• a • and retirement of Refunded Bonds .,
provided in this ordinance and in the Bond Sale Resolution, and stating that the provisions fol
payment of the fees, compensation and expenses of such Refunding Trustee set forth therein ar
satisfactory to it. Prior to executing the Refunding Trust Agreement, the Finance Director 1
authorized to make such changes therein which do not change the substance and purpose thereo
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DIVA 61
MW F, �WFITW
Trustee and any income earned on the amounts so deposited shall be held irrevocably, invested
and applied in accordance with the provisions of the ordinance that authorized the Refunded
Bonds, this ordinance, the Bond Sale Resolution, chapter 39.53 RCW and other applicable
statutes of the State, and the Refunding Trust Agreement; All necessary and proper fees,
compensation and expenses of the Refunding Trustee and all other costs incidental to the setting
up of the escrow to accomplish the refunding of the Refunded Bonds and costs related to the
issuance and •' • the Refunding Bonds, including bond printing, • fees, bond
counsel's fees and other related expenses, may be paid out of the proceeds of the Refunding
Bonds. To the extent practicable, such obligations shall be discharged fully by the Refunding
Trustee's simultaneous purchase of the Acquired Obligations' bearing such interest and maturing
as to principal and interest in such amounts and at such times so as to provide, together with a
beginning cash balance, if necessary, for the payment of the amounts required to be paid by the
Refunding Plan. The Acquired Obligations shall be listed and more particularly described in a
schedule attached to the Refunding Trust Agreement, but are subject to substitution as set forth
below. Prior to the purchase • any such Acquired Obligations, the City reserves the right to
substitute other Government Obligations for any of the Acquired Obligations and to use any
savings created thereby for any lawful City purpose if (i) in the opinion of Bond Counsel, the
interest on the Bonds and the Refunded Bonds issued as tax-exempt obligations will remain
511205144
Sgdj��. PreliminM Official Statement Deemed Final, The City Council will be
provided with copies of a preliminary official statement prepared in connection with the sale of
each series of Bonds.Prior to its distribution an• for the solepurpose •i the i• • •
compliance with SEC r • Finance r • is authorized to "deem
final" any such preliminary official statement as of its date, except for the omission of
information as to offering prices, interest rates, selling compensation, aggregate principal
amount, principal am• • `' maturity, maturitydates, options of redemption,delivery dates,
ratings and other terms of Bonds dependent on such matters,
Sg��, Undertaking to Provide Continuing Disclosum The City shall undertake
to provide for the benefit of holders of the Bonds certain annual financial information and
operating data of the type included in the final official statement for those Bonds, as well as
disclosure of certainrespecting theBonds, in the manner • • to
the extent
required by SEC Rule 15c2-12(b)(5), The particular terms of such undertaking shall be set forth
in the Bond Sale Resolution.
' Sale of the Bonds-, Bond • • •n', Form • • Execution • „
Documents.
(a) Manner • Sale I the s'I',I The Finance Directordetermine
based on market conditions• f advice fromadvisor, • offer the Bonds •'
sale at competitive • • or throughnegotiated sale. If the Bonds are • •` sold by competiti
bid, the Finance Director is authorized to specify a date and time of sale of the Bonds, to gi
notice of that• determine any i • requirements and criteria fordetermining the awaris •
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51120514,4..
SectionAuthorization. The M,' • • the Finance: • , • other
appropriate officers of the City are each authorized and directed to do everything as in their
judgment may be necessary, appropriate or desirable in order+. • carry out is
provisions of, and complete the transactions contemplated by, this or inance.
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Section 22. Severability. Should any section, paragraph, sentence, clause or phrase
this ordinance, or its application to any person or circumstance, be declared unconstitutional IS
otherwise invalid for any reason, or should any portion of this ordinance be pre-empted by sta
or federal law or regulation, such decision or pre-emption shall not affect the validity of t
remaining portions of this ordinance or its application to other persons or circumstances. I
Section 23. Effective Date of Ordinance. This ordinance shall take effect and be in
i
9 orce from and after its passa•e and five days following its publication as required by law,
PASSED by the City Council and APPROVED by the Mayor of the City of Edmonds,
Washington, at an open public meeting thereof, this 15 th day of February, 2011.
Nfayor Mike Cooper
City Clerk Sandra S. Chase
FOSTER PEPPER PLLC
Bond Counsel
Filed with the City Clerk' 02-11-2011
Passed by the City Council: 02-15-2011
Published: 02-20-2011
Effective Date: 02-25-2011
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511205144
1, the undersigned, City Clerk of the City of Edmonds, Washington (the "City"), hereby
certify as follows:
I. Tile attached copy of Ordinance No. 3837 (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 there meeting place thereof on February 15, 2011, as that ordinance appears on the
minute book of the City; and the Ordinance will be in full force and effect five days after
publication in the City's of newspaper; and
I A quorum of the members of the City Council was present throughout the
meeting and a majority of its members voted in the proper manner for the passage of the
Ordinance.
City Clerk
1,1120514,4
of the City of Edmonds, Washington
On the 15th day of February, 2011, the City Council of the City of Edmonds
passed Ordinance No. 3837. A summary of the content of said ordinance, consisting of
the title, provides as follows:
AN ORDINANCE of the City of Edmonds, Washington,
relating to contracting indebtedness; providing for the
issuance of limited tax general obligation bonds and
revenue bonds to provide the funds necessary to carry out a
refunding of all or a portion of certain outstanding general
obligation bondsandrevenue bonds of the City and to pay
the administrative costs of such refundings and the costs of
issuance and sale of the bonds;_ fixing certain terms and
covenants of the bonds; and providing for the public sale of
the bonds.
The full text of this Ordinance will be mailed upon request.
DATED this 16th day of February, 2011.
ITS'CLERK, SANDRA S. CHASE
STATE OF WASHINGTON '
COUNTY OF SNOHOMISH
RECEIVED
Affidavit of Publication
rt 1 r a
Snohomish,THE HERALDj a daily newspaper printed and published in the City of Everett, County of
circulation in said County +:.; newspaperr
newspaper by order of the Superior Courtof Snohomish County and that the notice
SLimMary of Ordinahce NCB_ 3837
a printed copy of which is hereunto attached, was published in said newspaper proper and not in
supplement form, in the regular and entire edition of said paper on the following days and
times; namely:
February 20, 2011
and that said newspaper was regularly dxalnit awsitl C is subscribers during all of said period
Subscribed and sworn to before me this
day of 1'ul ruary® 2011�
d s
NotaNjlubiie in and F` r 11 e Sf c of Washington, r i
Cotinty, -"'„„„
Account Name: City of Edmonds Account Number. 101416
21st
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