RESOLUTION NO. 3645 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
2011; 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 ofthe assessed property of the Port of Seattle
District in the Year 2011.

WHEREAS, the Port of Seattle Commission, on the 9th day ofNovember, 2010,
prepared the preliminary budget of the Port of Seattle for the year 2011 and provided for the
publication of Notice of Final Budget Hearing on the adoption of said budget, to be heard on the
30th day ofNovember, 2010, whentaxpayers 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
Port Commission, pursuant to notice duly given, in the City of Seattle, County of King, State of
Washington, on the 9lb ofNovember 2010, at 2 pm. and 30th day ofNovember 2010, at 8:30
am; 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 that the nal assessed valuation of the property lying within the boundaries of said district

for the year 2010 is $329,448,690,600 (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 2011, as presented at the

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

2011; and

BE IT FURTHER RESOLVED, that the amount oftaxes 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 $73,500,000; 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 $73,500,000 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, 2011 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 2011 and they are within the maximums established by

law.

ADOPTED by the Port Commission of the Port of Seattle at a regular meeting held this
50 day of   NOV-Cm br          ,
2010, and duly authenticated in open session by the
signatures of the Commissioners voting in favor thereof and the seal of the Commission.

ROB HOLLAND

GAEL TARLETON

BILL BRYANT



Port Commission