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 Commission, on the 26

day of October, 2017, prepared the

preliminary budget of the Port of Seattle for the year 2018 and provided for the publication of Notice of

Budget Hearing on the adoption of said budget, to be heard on the 14

day of November, 2017, 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 14

of November 2017, at 1 p.m.; 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 notified the Commissioners of the Port of Seattle on

the 13

day of October, 2017, that the regular levy assessed value of the property lying within the

boundaries of said district for the year 2017 is $530,058,322,979 (after omitted assessments); and

WHEREAS, the King County Assessor has notified the Commissioners of the Port of Seattle on

the 13

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.

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 2018, as presented at the aforementioned

hearing, is hereby adopted as the final budget of the Port of Seattle for the Year 2018; and

ITEM NO: 6a__Attach_1____

DATE OF MEETING: Nov 14, 2017

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

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; and

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

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 28

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