RESOLUTION NO. 3726, As Amended

A RESOLUTION  of the Port Commission of the Port of Seattle adopting the
nal budget of the Port of Seattle for the year 2017; 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
2017.

WHEREAS, the Port of Seattle Commission, on the 20'h day of October, 2016, prepared the
preliminary budget of the Port of Seattle for the year 2017 and provided for the publication of Notice of
Budget Hearing on the adoption of said budget, to be heard on the 8m day of November, 2016, when
taxpayers might appear and present objections to said preliminary budget; and

WHEREAS, a public hearing on said preliminary budget was held in the office of the Port
Commission, pursuant to notice duly given. in the City of Seattle, County of King, State of Washington,
on the 8lh of November 2016, at 1 pm; and

WHEREAS, all parties present were afforded a full 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 on
the 315' day of October, 2016, that the regular levy assessed value of the property lying within the

boundaries of said district for the year 20] 6 is $468,699,128,038 (after omitted assessments); and

WHEREAS, the King County Assessor has notied the Commissioners of the Port of Seattle on
the 3 ls'day of October, 2016. that the maximum allowable levy is $98,993,903 including $185,986 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 budget of the Port of Seattle for the year 2017, as presented at the aforementioned
hearing, is hereby adopted as the final budget of the Port of Seattle for the Year 2017; and

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;
and

BE IT FURTHER RESOLVED. that the King County Council. State of Washington. be

notied that the specic 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, 2017 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 20l6 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 22"ll
day of November, 20l6, and duly authenticated in open session by the signatures of the Commissioners





'


Port Commi