ITEM NO:  6a__Attach_1____ 
DATE OF MEETING: Nov 14, 2017 

RESOLUTION NO. 3738 

A RESOLUTION  of the Port Commission of the Port of Seattle adopting the
final budget of the Port of Seattle for the year 2018; 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 property of the Port of Seattle District in the Year
2018. 

WHEREAS, the Port of Seattle in the Century Agenda commits to create economic opportunity
for all, steward our environment 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, financially transparency and an open budget process; and 

WHEREAS, The Port of Seattle and its Commission is committed to making strategic investments
necessary to promote a thriving maritime and industrial economy and recognizes 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 is Commission is committed to reducing our carbon footprint and 
investing in solutions that will propel the Port to become the "greenest" and most efficient port in the

ITEM NO:  6a__Attach_1____ 
DATE OF MEETING: Nov 14, 2017 

nation. We are further committed to assisting those we do business with to encourage and incentivize
ways they 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 26th day of October, 2017, provided the preliminary
2018 Budget and Business Plan and Draft Plan of Finance (" 2018 Preliminary 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 14th day of November, 2017, when taxpayers might appear and present
objections to the 2018 Preliminary Budget; and 

WHEREAS, a public hearing on the 2018 Preliminary 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 14th of November 2017, at 1 p.m.; and 

WHEREAS, all parties present at said hearing were afforded a full opportunity to present objections to
the 2018 Preliminary Budget, 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 13th day
of October, 2017, that the regular levy assessed value of the property lying within the boundaries of the
Port of Seattle district ("Port District") for the year 2017 is $530,058,322,979 (after omitted assessments);
and 

WHEREAS, the King County Assessor notified the Commissioners of the Port of Seattle on the 13th day
of October, 2017, that the maximum allowable levy is $101,550,330 including $189,856 levy for prior
year refunds and the Port intends to retain this levy capacity; and 

NOW, THEREFORE, BE IT RESOLVED, by the Port Commission of the Port of Seattle that
the 2018 Preliminary Budget, as updated and amended at the November 14, 2017 Port Commission 
hearing, and as may have been further amended by the Port Commission on this 28th of November, 2017,
is hereby adopted as the final budget of the Port of Seattle for the Year 2018. Said final budget includes

ITEM NO:  6a__Attach_1____ 
DATE OF MEETING: Nov 14, 2017 

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 bond 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 $72,000,000. 

BE IT FURTHER RESOLVED, that the King County Council, State of Washington, be
notified that the specific sum herein mentioned being a total of $72,000,000 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, 2018 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 2018 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 28th 
day of November, 2017, and duly authenticated in open session by the signatures of the Commissioners
voting in favor thereof and the seal of the Commission.

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Port Commission

ITEM NO:  6a__Attach_1____ 
DATE OF MEETING: Nov 14, 2017