Bond transaction removal of 2015 bond refunding as previously approved Resolutions (20-452) and (21-055) BEFORE THE BOARD OF COUNTY COMMISSIONERS
LEWIS COUNTY, WASHINGTON
IN THE MATTER OF: RESOLUTION NO. 21-147
BOND TRANSACTION REMOVAL OF 2015 BOND
REFUNDING AS PREVIOUSLY APPROVED
RESOLUTIONS (20-452) AND (21-055) DUE TO
LACK OF FAVORABLE MARKET CONDITIONS AT
BOND CLOSING
WHEREAS, Resolution 20-452 called for the refunding of the Lewis County GO
Bonds 2015 at a 5% savings threshold; and
WHEREAS, subsequent Resolution 21-055 changed the savings threshold to 2%
and provided an approximate savings in future interest payments of $40,000.00;
and
WHEREAS, market conditions at the time of sale of the 2021 Lewis County GO
bonds were not favorable to accomplish a 2% savings, and therefore made the
refunding of the 2015 LC GO bonds not viable.
NOW THEREFORE BE IT RESOLVED Lewis County took no action to refund the
2015 GO Bonds, as they did not meet the requisite savings threshold conditions at
the time of the sale of the 2021 bonds, which were previously approved and
needed to meet savings threshold of 2% that was directed in Lewis County
Resolution 20-055.
DONE IN OPEN SESSION this 13th day of April, 2021.
Page 1 of 2 Res. 21-147
APPROVED AS TO FORM: BOARD OF COUNTY COMMISSIONERS
Jonathan Meyer, Prosecuting Attorney LEWIS COUNTY, WASHINGTON
Kevin McDowell Gary Stamper
By: Kevin McDowell, Gary Stamper, Chair
Deputy Prosecuting Attorney
ATTEST: ,•�o\?:Tt_.14,ayi
a\S .PvLOoF s , Lindsey R. Pollock, DVM
3° Lhudsey R. Pollock, DVM, Vice Chair
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Rieva Lester co Sean D. Swope
Rieva Lester, : Sean D. Swope, Commissioner
Clerk of the Lewis County Board of
County Commissioners
Page 2 of 2 Res. 21-147
BOCC AGENDA ITEM SUMMARY
Resolution: BOCC Meeting Date: April 13, 2021
Suggested Wording for Agenda Item: Agenda Type: Deliberation
Bond transaction removal of 2015 bond refunding as previously approved resolutions (20-452) and
(21-055) due to lack of favorable market conditions at bond closing.
Contact: Arny Davis Phone: 3607401110
Department: TREAS - Treasurer
Description:
Clarification for the removal of the 2015 Bond Refunding as previously approved by resolutions
(20-452) and (21-055).
Approvals: Publication Requirements:
Publications:
User Status
PA's Office Approved
Additional Copies: Cover Letter To: