HomeMy WebLinkAboutCAG2024-468 - Original - Official Intent to Reimburse - 9/17/24 FINANCE ADMINSTRATION
Paula Painter, CPA, Director
220 4th Avenue South
• Kent, WA 98032
KENT Fax: 253-856-6255
WAS-GTON
PRONE: 253-856-5260
FORM OF OFFICIAL INTENT CERTIFICATE
Pursuant to Resolution No. 2076 of the City Council of the City of Kent,
Washington (the "City"), adopted on September 17, 2024, the undersigned Finance
Director of the City hereby states as follows:
Section 1. The City reasonably expects to reimburse the expenditures described
herein with the proceeds of debt to be incurred by the City (the "Reimbursement
Bonds").
Section 2. The maximum principal amount of Reimbursement Bonds expected
to be issued is $60,000,000 (sixty million dollars).
Section 3. The expenditures with respect to which the City reasonably expects
to be reimbursed from the proceeds of Reimbursement Bonds will be made from the
City's General Fund and Capital Resources Fund for project costs related to the City's
purchase of a municipal services building located in the CenterPoint Office Park at
20610 68th Avenue South, and the conversion of the existing Centennial Center at 400
West Gowe Street into a new City Hall moving Police headquarters and Council
Chambers into that building. A bond will be issued to cover the cost of the building
purchase along with all necessary renovations to the current City Hall campus and new
municipal services building at CenterPoint. In addition, the bond issue will pay for a
portion of the Kent East Hill Operations Center project.
Dated this 181" day of September, 2024.
t,6,& zg�-
Paula P inter, Finance Director