AN ORDINANCE authorizing the issuance and sale of one or more series of junior lien sewer revenue bonds and multi-modal limited tax general obligation bonds (payable from sewer revenues) of the county in an aggregate principal amount not to exceed $1,200,000,000 to provide funds for acquiring and constructing improvements to the sewer system and to pay the costs of issuing such bonds; authorizing the issuance and sale of one or more series of junior lien sewer revenue refunding bonds and multi-modal limited tax general obligation refunding bonds (payable from sewer revenues) of the county to refund outstanding obligations of the county payable from sewer revenues and to pay the costs of issuing such refunding bonds; reauthorizing the county’s existing commercial paper notes issued for sewer system purposes, in the aggregate principal amount not to exceed $250,000,000 outstanding at any time; pledging sewer revenues to pay the principal of and interest on junior lien sewer revenue bonds issued under this ordinance; pledging the annual levy of taxes and an additional pledge of sewer revenues to pay the principal of and interest on multi-modal limited tax general obligation bonds (payable from sewer revenues) issued under this ordinance; delegating authority to the county's Finance Director to approve the issuance and sale of junior lien sewer revenue bonds and multi-modal limited tax general obligation bonds (payable from sewer revenues) within specified parameters, to remarket and authorize the conversion of the interest rate mode of the bonds, to select one or more remarketing agents and/or commercial paper dealers and enter into, amend, extend or replace mode agreements, dealer agreements, credit enhancements, liquidity facilities, and related documents, as applicable; providing for the form, terms and covenants of the bonds issued under this ordinance; and provided for other matters relating thereto.

Committee

Budget and Fiscal Management Committee

Requested by

Micklow, Andy

Introduced

May 13, 2025

Passed

July 15, 2025

Enacted

July 17, 2025

Enactment no.

19955

Where it was heard

Metropolitan King County Council Jul 15, 2025 Passed Pass Budget and Fiscal Management Committee Jul 9, 2025 Passed Out of Committee Without a Recommendation Pass Metropolitan King County Council May 13, 2025 Introduced and Referred

Watch King County

Say what matters to you — a street, a company, a subject — and we will email you when King County files something about it.

Watch this

Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.