Res 97-248
RESOLUTION NO. 97-248
A RESOLUTION OF THE CITY OF FEDERAL WAY
ACCEPTING A BID FOR THE CITY'S LIMITED TAX
GENERAL OBLIGATION BONDS, 1997.
Whereas, the City of Federal Way will be undertaking various community
investment projects, including the design, construction and acquisition of sports fields and
other improvements at Celebration Park; Civic Theatre and related improvements at the
Visitation Retreat and Cultural Center; a public safety facility and a Downtown
Revitalization Program that includes street lights, beautification and safety improvements
in the City's downtown area; and
Whereas, in order to provide the funds for such capital improvements, the City
adopted Ordinance No. 97-292 authorizing the sale of limited tax general obligation bonds
in the principal amount of$16,l50,OOO (the "Bonds"); and
Whereas, bids have been received for the purchase of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Federal Way:
The Council hereby accepts the bid of Morgan Keegan & Co. to purchase the
Bonds, which bid is attached to this resolution. The Bonds shall bear interest at the rates
set forth in such bid.
Adopted this April 22, 1997.
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Mahlon S. Priest, Mayor
Attest:
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N. Christine Green, CMC
City Clerk for the City of Federal Way
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