Item No. 8a_reso
Meeting date: November 12, 2019

RESOLUTION NO. 3763 
A RESOLUTION of the Port Commission of the Port of Seattle adopting the
final  budget  of  the  Port  of  Seattle  for  the  year  2020;
making, determining, and deciding the amount of taxes to
be levied upon the current assessment roll; providing
payment of bond redemptions and interest, cost of future
capital  improvements  and  acquisitions,  and  for  such
general purposes allowed by law which the Port deems 
necessary; and directing the King County Council as to the
specific sums to be levied on all of the assessed properties 
of the Port of Seattle District in the Year 2020. 
WHEREAS, the Port of Seattle in the Century Agenda commits to create economic
opportunity  for  all,  steward  our  environmental  responsibly,  partner  with  surrounding
communities,  promote  social  responsibility,  conduct  ourselves  transparently,  and  hold
ourselves accountable; and 
WHEREAS, the Port of Seattle's Century Agenda outlined goals of meeting current
demand as a business gateway and tourism hub for the region, and further expressed the need to
anticipate future growth of the region and to prepare for the ensuing demand for cruise, maritime,
and aviation all for the economic benefit of the region; and 
WHEREAS, the Port of Seattle Commission is committed to the responsible stewardship
of public tax revenue, financial transparency, and an open budget process; and 
WHEREAS, the Port of Seattle and its Commission are committed to making strategic
investments necessary to promote a thriving maritime and industrial economy and recognize that
increasing pressure on industrial lands and freight corridors in the region threatens the viability of
this sector; and 
WHEREAS, the long-term viability of the maritime and industrial sector is dependent on a
robust and well-trained workforce and the sector is facing both an aging workforce and a limited
influx of trained younger workers to replace those approaching retirement  and  the need to
strengthen training and pathways into the sector; and

WHEREAS, the Port of Seattle Commission is committed to reducing our carbon footprint
by investing in solutions to become the "greenest" and most efficient port in the nation and we are
further committed to assisting and incentivizing those we do business with in order to reach these
goals; and 
WHEREAS, the Port of Seattle Commission has determined that the mission of the Port is
to create good jobs in the region by advancing trade and commerce, promoting manufacturing and
maritime growth, and stimulating economic development; and 
WHEREAS, the Port of Seattle Commission, on the 22nd day of October, 2019, provided 
the preliminary 2020 Budget of the Port of Seattle to the public and provided for the publication of
Notice of Budget Hearing to consider adoption of a final budget, to be heard on the 12th day of
November, 2019, when taxpayers might appear and present objections to the preliminary 2020 
Budget; and 
WHEREAS, a public hearing on the preliminary 2020 Budget was held in the Port
Commission Chambers, pursuant to notice duly given, in the City of Seattle, County of King, State
of Washington, on the 12th of November, 2019, at 12 p.m.; and 
WHEREAS, all parties present at said hearing were afforded a full opportunity to present
objections to the preliminary 2020Budget, and the Port Commission being duly advised in the
premises; and 
WHEREAS, the King County Assessor notified the Commissioners of the Port of Seattle on
the 1st day of October, 2019, that the regular levy assessed value of the property lying within the
boundaries of the Port of Seattle district ("Port District") for the year 2019 is 
$636,879,445,421 (after omitted assessments); and 
WHEREAS, the King County Assessor notified the Commissioners of the Port of Seattle on the
1st day of October, 2019, that the maximum allowable levy is $106,250,147 including $0 levy for
prior year refunds, and the Port intends to retain this levy capacity; 
NOW, THEREFORE, BE IT RESOLVED by the Port Commission of the Port of Seattle that
the preliminary 2020 Budget, as updated and amended at the November 12, 2019, Port Commission
hearing, and as may have been further amended by the Port Commission on this 19th of November,
2019, is hereby adopted as the final budget of the Port of Seattle for the Year 2020. Said final budget
includes the statutory budget required under RCW 53.35.040. A copy of the final budget shall be 
made available to the public on the Port of Seattle website. 
BE IT FURTHER RESOLVED that the amount of taxes to be levied by the Port of Seattle
on the current assessment rolls to provide for payment of band redemption and interest on the Port
of Seattle General Obligation Bonds, for future expenditures for acquisitions and

capital improvements and for such general purposes allowed by law which the Port deems necessary be
set and deposited is still pending commission approval. 
BE IT FURTHER RESOLVED that the King County Council, State of Washington, be
notified that the specific sum herein mentioned being a total of $76,384,800 is necessary to be raised
by taxation to meet the payment of bond redemption and interest on Port of Seattle General
Obligation Bonds, of future expenditures for acquisitions and capital improvements, and of costs 
for such general purposes allowed by law which the Port deems necessary, as set forth for the period
January 1, 2020, and thereafter; that said King County Council be respectfully requested to make a
levy in said amount for the aforesaid purposes. 
BE IT FURTHER RESOLVED that the above is a true and complete listing of levies for the
Port District for collection in the year 2020 and they are within the maximums established by law. 
ADOPTED by the Port Commission of the Port of Seattle at a duly noticed meeting held this 19th 
day of November, 2019, and duly authenticated in open session by the signatures of the Commissioners 
voting in favor thereof and the seal of the Commission. 




Port of Seattle Commissioners