Item No. 10b_reso 
Meeting Date: November 17, 2020 
RESOLUTION NO. 3779 
A RESOLUTION of the Port Commission of the Port of Seattle adopting
the final budget of the Port of Seattle for the year 2021;
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 2021. 
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 20th day of October, 2020, provided 
the preliminary 2021 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 10th day
of November, 2020, when taxpayers might appear and present objections to the preliminary
2021 Budget; and 
WHEREAS, a public hearing on the preliminary 2021 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 10th of November, 2020, at 12 p.m.; and 
WHEREAS, all parties present at said hearing were afforded a full opportunity to
present objections to the preliminary 2021 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 5th day of October, 2020, that the regular levy assessed value of the property lying
within the boundaries of the Port of Seattle district ("Port District") for the year 2020 is 
$644,507,098,445 (after omitted assessments); and 
WHEREAS, the King County Assessor notified the Commissioners of the Port of Seattle on
the 5th day of October, 2020, that the maximum allowable levy is $108,203,198 including
$107,070 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 2021 Budget, as updated and amended at the November 10, 2020, Port
Commission hearing, and as may have been further amended by the Port Commission on this
17th of November, 2020, is hereby adopted as the final budget of the Port of Seattle for the Year
2021. 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 $78,676,344 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, 2021, 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 2021 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 
17th  day  of  November,  2020,  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