The Port of Seattle Commission adopted Resolution No. 3822 on April 23, 2024, authorizing the issuance of up to $325 million in limited tax general obligation bonds to fund capital improvements at Port facilities, including Seattle-Tacoma International Airport, and to refinance certain existing debt. The bonds may be issued in one or more series, with a designated Port representative authorized to finalize sale details. The Port is empowered to issue these bonds under Washington State law (RCW 53.36.030 and ch. 39.46), with repayment backed by regular Port tax levies.Open full document
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Resolution No. 3822 of the Port Commission of the Port of Seattle authorizes the sale and issuance of limited tax general obligation and refunding bonds in one or more series, with an aggregate principal amount not to exceed $325,000,000. The bonds are intended to finance or refinance capital improvements to Port facilities and to refund certain outstanding obligations of the Port. The resolution also authorizes a Designated Port Representative to approve certain matters relating to the bonds, including the date or dates of sale.