RESOLUTION NO. 3654, As amended

A RESOLUTION  of the Port Commission of the Port of Seattle adopting
the nal budget of the P01": of Seattle for the year
2012; 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 specic sums to be levied on
all of the assessed property of the Port of Seattle
District in the Year 2012.

WHEREAS, the Port of Seattle Commission, on the 8th day ofNovember, 2011,
prepared the preliminary budget of the Port of Seattle for the year 2012 and provided for the
publication of Notice of Final Budget Hearing on the adoption of said budget, to be heard on the
22"d day ofNovember, 2011, when taxpayers might appear and present objections to said

preliminary budget; and

WHEREAS, a public hearing on said preliminary budget was held in the ofce of the
P011: Commission, pursuant to notice duly given, in the City of Seattle, County of King, State of
Washington, on the 8th ofNovember 2011, at 1 pm. and 22"d day ofNovember 2011, at 1:00
pm; and

WHEREAS, all parties present were afforded a lll opportunity to present objections to
the preliminary budget, and the Port Commission being duly advised in the premises; and

WHEREAS, the King County Assessor has notied the Commissioners of the Port of
Seattle that the nal assessed valuation of the property lying within the boundaries of said district

for the year 2011 is $315,588,352,233 (after omitted assessments).

NOW, THEREFORE, BE IT RESOLVED, by the Port Commission ofthe Port of
Seattle that the preliminary budget of the Port of Seattle for the year 2012, as presented at the

aforementioned hearing, is hereby adopted as the nal budget of the Port of Seattle for the Year

2012; and

BE IT FURTHER RESOLVED, that the amount of taxes to be levied by the Pelt 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 $73,000,000; and


BE IT FURTHER RESOLVED, that the King County Council, State ofWashington, be

notied that the specic sum herein mentioned being a total of $73,000,000 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, 2012 and thereafter; that said King County Council be respectfully requested to
make a levy in said amount for the aforesaid purposes; and

BE IT FURTHER RESOLVED, that the above is a true and complete listing of levies

for said District for collection in the year 2012 and they are within the maximums established by

law.

ADOPTED by the Port Commission ofthe Port of Seattle at a regular meeting held this
2 7  day of "bygm \QQ/                        and duly authenticated in open session by the
, 2011,
signatures of the Commissioners voting in favor thereof and the seal of the Commission.

3 (AI/V  GAELTARLETON

1311.1. 3 {WANT

JOHN CREIGHTON
V             D TOM ALBRO
v4 \  ROB HOLLAND
Port Commission