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HomeMy WebLinkAbout3360 Ordinance ORDINANCE NO . 3360 AN ORDINANCE of the City of Pasco, Washington, relating to contracting indebtedness ; authorizing the issuance of limited tax general obligation bonds ; authorizing the issuance of a Limited Tax General Obligation Bond Anticipation Notes , 1999 , in the aggregate principal amount of not to exceed $6 , 000, 000 , to provide funds for acquisition, design and construction of softball fields and civic center improvements , and to pay costs of carrying out the Library Project and Fire Stations Project pending the issuance of the unlimited general obligation bonds approved at special election held on March 10 , 1998 , for those purposes ; fixing the date , interest rate , form, maturity, terms , covenants and uses of the proceeds of the notes ; creating a note redemption fund; approving the sale and providing for the delivery of the notes to NationsBanc Montgomery Securities LLC of Seattle, Washington; and amending Ordinance No . 3324 by increasing the capital project authority for the softball fields , library project, fire station project and civic center project. WHEREAS, the City of Pasco, Washington (the "City") is in need of funds to acquire , design and construct softball fields (the "Softball Fields Project") , the estimated cost of which is $3, 600 , 000, and the City does not have available sufficient funds to pay those costs ; and WHEREAS, the City is in need of funds to make improvements to the civic center by improving third floor office space (the "Civic Center Project") , the estimated cost of which is $300, 000, and the City does not have available sufficient funds to pay those costs ; and WHEREAS , on March 10, 1998 , at a special election called for that purpose, the voters approved the propositions for the City to borrow, not to exceed, $750 , 000 to renovate the Pasco Library (the "Library Project") and $950, 000 to relocate its Fire Station No . 1 by acquiring, constructing and equipping a new fire station (the "Fire Station Project") , by the issuance of unlimited tax general obligation bonds , all as provided in Ordinance No . 3280; and WHEREAS , it is also necessary for the City to issue an additional $ 100, 000 of limited tax general obligation bonds to pay part of the costs of the Library Project and an additional $300, 000 of limited tax general obligation bonds to pay part of the costs of the Fire Station Project; and 1 50090993.05 WHEREAS , the City Council deems it to be in the best interests of the City to borrow money by the issuance of bonds and , pending the issuance of those bonds , issue short-term obligations in accordance with the provisions of Chapter 39 . 50 RCW for the purpose of providing the funds with which to pay the costs of carrying out the Softball Fields Project and Civic Center Project, the Library Project and the Fire Station Project (collectively, the "Projects") pending the issuance of bonds or the availability of other sources of repayment; and WHEREAS , NationsBank Montgomery Securities has offered to purchase those notes as limited tax general obligation notes under the terms and conditions set forth herein; NOW, THEREFORE , BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PASCO , WASHINGTON , as follows : Section 1 . Definitions . As used in this ordinance the following words shall have the following meanings : "City" means the City of Pasco , Washington. "Civic Center Project" shall mean the civic center improvements including third floor office improvements authorized by this ordinance . "Fire Station Project" shall mean the Fire Station No . 1 relocation, acquisition, construction and equipping authorized by Ordinance No. 3280. "Library Project" shall mean the Pasco Library renovation authorized by Ordinance No . 3280. "Limited General Obligation Bonds" shall mean the $3 , 600 , 000 par value of limited general obligation bonds authorized by this ordinance . "Note" means the $6 , 000 , 000 par value Limited Tax General Obligation Notes, 1999 , authorized to be issued by this ordinance . "Note Fund" means that special fund of the City known as the Limited Tax General Obligation Note Fund, 1999 , created by this ordinance for the payment of the principal of and interest on the Notes . "Note Registrar" means the fiscal agency of the State of Washington, currently, the Bank of New York in New York, New York and Seattle, Washington. "Projects" means collectively, Fire Station Project, the Library Project, the Civic Center Project and the Softball Fields Project. "Purchaser" means NationsBank Montgomery Securities of Seattle, Washington. "Softball Fields Project" shall mean the softball fields authorized to be acquired , constructed and equipped by this ordinance. "Unlimited Tax General Obligation Bonds" shall mean the unlimited general obligation bonds authorized by the voters to be issued pursuant to Ordinance No . 3280 to carry out the Fire Station Project and Library Project. 2 50090993.05 Section 2 . Debt Capacity. The assessed valuation of the taxable property of the City as ascertained by the last preceding assessment for City purposes for the calendar year 1999 is $880 , 694 , 237 , and the City has outstanding general indebtedness evidenced by limited tax general obligation bonds , notes or installment contracts and lease purchase contracts incurred within the limit of up to 1 - 1 / 2% of the value of the taxable property within the City permitted for general municipal purposes without a vote of the qualified voters therein in the total amount of $6 , 430 , 000 and unlimited tax general obligation bonds in the principal amount of $3 , 990 , 000 incurred within the limit of up to 2- 1 / 2% of the value of the taxable property within the City for capital purposes only, and the amount of indebtedness for which bonds are authorized herein to be issued and in Ordinance No . 3280 is $6 , 000 , 000 . j Section 3 . Authorization of Bonds . For the purpose of providing the funds to pay the cost of the Softball Fields Project, the City shall issue limited tax general obligation bonds in the amount of not to exceed $3 , 600 , 000 . For the purpose of providing the funds to pay the cost of the Civic Center Project, the City shall issue limited tax general obligation bonds in the amount of not to exceed $300, 000 . For the purpose of providing the funds to pay part of the costs of the Library Project, the City shall issue limited general obligation bonds in the amount of $ 100 , 000 and $300 , 000 for the Fire Station Project. The bonds for each of the aforesaid purposes shall be issued in one or more series at such times as the City shall deem advisable ; shall be in such denominations and form, shall be dated , shall bear such interest rate or rates , shall be payable at such time or times , shall have such option of payment prior to maturity, shall provide for such additional funds and accounts and shall contain and be subject to such provisions and covenants as hereafter shall be provided by ordinance . The general indebtedness to be incurred shall be within the limit of up to 1 - 1 / 2% of the value of the taxable property within the City permitted for general municipal purposes without a vote of the qualified voters therein. Section 4 . Description of the Notes . Pending the issuance of the Limited General Obligation Bonds authorized by Section 3 , and the Unlimited Tax General Obligation Bonds authorized by Ordinance No . 3280 for the purpose of providing the funds with which to pay costs of the Projects and paying the costs of issuance of the Notes the City shall borrow money by the issuance and sale of the Notes . The Notes shall be called Limited Tax General Obligation Bond Anticipation Notes , 1999 (the "Notes") and shall be issued in the total principal sum of $6 , 000 , 000 . The Notes shall be dated May 25 , 1999 , shall mature on June 1 , 2001 , and shall be in the denomination of $5 , 000 or any integral multiple thereof; shall be numbered separately in the manner and with any additional designation as the Note Registrar (collectively, the fiscal agencies of the State of Washington) deems necessary for purposes of identification; and 3 50090993.05 shall bear interest at the rate of 3 . 65% per annum (computed on the basis of a 360-day year of twelve 30-day months) , payable on June 1 , 2000 , and at maturity, or upon earlier redemption . The City Council fmds that the fixing of the above interest rate is in the best interest of the City. Section 5 . Registration and Transfer of Notes . The Notes shall be issued only in registered form as to both principal and interest and shall be recorded on books or records maintained by the Note Registrar (the "Note Register") . Such Note Register shall contain the name and mailing address of the owner of each Note and the principal amount and number of each of the Notes held by each owner. Notes may be transferred only if endorsed in the manner provided thereon and surrendered to the Note Registrar. The transfer of a Note shall be by the Note Registrar's receiving the Note to be transferred , cancelling it and issuing a new certificate in the form of the Notes to the transferee after registering the name and address of the transferee on the Note Register. The new certificate shall bear the same Note number as the transferred Note but may have a different inventory reference number or control number. Any exchange or transfer shall be without cost to the owner or transferee . The Note Registrar shall not be obligated to exchange or transfer any Note during the 15 days preceding any principal payment or redemption date . The Notes initially shall be registered in the name of CEDE & CO . , as the nominee of The Depository Trust Company, New York, New York ("DTC") . The Notes so registered shall be held in fully immobilized form by DTC as depository in accordance with the provisions of a Blanket Issuer Letter of Representations with DTC dated August 31 , 1998 , between the City and DTC (the "Letter of Representations") . Neither the City nor the Note Registrar shall have any responsibility or obligation to DTC participants or the persons for whom they act as nominees with respect to the Notes regarding accuracy of any records maintained by DTC or DTC participants of any amount in respect of principal of or interest on the Notes , or any notice which is permitted or required to be given to registered owners hereunder (except such notice as is required to be given by the Note Registrar to DTC) . For so long as any Notes are held in fully immobilized form, DTC or its successor depository shall be deemed to be the registered owner for all purposes hereunder and all references to registered owners , bondowners , bondholders or the like shall mean DTC or its nominees and shall not mean the owners of any beneficial interests in the Notes . Registered ownership of such Notes , or any portions thereof, may not thereafter be transferred except: (i) to any successor of DTC or its nominee, if that successor shall be qualified under any applicable laws to provide the services proposed to be provided by it: (ii) to any substitute i 4 50090993.05 depository appointed by the City or such substitute depository's successor; or (iii) to any person if the Notes are no longer held in immobilized form. Upon the resignation of DTC or its successor (or any substitute depository or its successor) from its functions as depository, or a determination by the City that it no longer wishes to continue the system of book entry transfers through DTC or its successor (or any substitute depository or its successor) , the City may appoint a substitute depository. Any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it. If (i) DTC or its successor (or substitute depository or its successor) resigns from its functions as depository, and no substitute depository can be obtained, or (ii) the City determines that the Notes are to be in certificated form, the ownership of Notes may be transferred to any person as provided herein and the Notes no longer shall be held in fully immobilized form. Section 6 . Payment of Notes . Both principal of and interest on the Notes shall be payable solely out of the Limited Tax General Obligation Bond Anticipation Note Fund , 1999 , established and created herein (the "Note Fund") into which the City shall pay, from the proceeds of bonds authorized to be issued by this ordinance or other short-term obligations to be deposited in such fund , amounts sufficient to pay the principal of and interest on the Notes as they come due . It is anticipated that a portion of the Notes will be paid from the proceeds of $ 1 , 700, 000 Unlimited Tax General Obligation Bonds and that the balance of the Notes will be paid from the proceeds of Limited General Obligation Bonds . The Notes shall be payable in lawful money of the United States of America. Interest on the Notes shall be paid by check or draft mailed to the registered owners on the interest payment date at the addresses appearing on the Note Register on the 15th day of the month preceding the interest payment date . Principal of the Notes shall be payable upon presentation and surrender of the Notes by the registered owners at either of the principal offices of the Note Registrar, at the option of the owners . Notwithstanding the foregoing, as long as the Notes are registered in the name of DTC or its nominee , payment of principal of and interest on the Notes shall be made in the manner set forth in the Letter of Representations . Section 7 . Pledge to Redeem Notes and 1?M Taxes . The City irrevocably pledges to redeem the Notes from the proceeds of a sufficient amount of bonds or additional short-term obligations , or from other money of the City legally available for such purpose, and to include in its budget and levy taxes annually within the constitutional and statutory tax limitations provided by law without a vote of the electors of the City on all of the taxable property within the City in an amount sufficient, together with other money legally available and to be used therefor, to pay when due the principal of and interest on the Notes and the full faith, credit and resources of the City are pledged irrevocably for the annual levy 5 50090993.05 and collection of those taxes and the prompt payment of that principal and interest. Section 8 . Redemption Provisions . The City reserves the right to redeem the Notes prior to their stated maturity date in whole or in part on any date by lot in such manner as the Note Registrar shall determine , on or after December 1 , 1999 , at par plus accrued interest to the date fined for redemption. Portions of the principal amount of any Note , in installments of $5 , 000 or any integral multiple thereof, may be redeemed . If less than all of the principal amount of any Note is redeemed, on surrender of that Note at either of the principal offices of the Note Registrar, there shall be issued to the registered owner, without charge therefor, a new Note (or Notes , at the option of the registered owner) in any of the denominations authorized by this ordinance in the aggregate principal amount remaining unredeemed . The City further reserves the right and option to purchase any or all of the Notes in the open market at any time at any price plus accrued interest to the date of purchase . All Notes purchased or redeemed under this section shall be cancelled . Notwithstanding the foregoing, for so long as the Notes are registered in the name of Cede & Co . , as nominee of DTC , selection of Notes for redemption shall be in accordance with the Letter of Representations (as it may be changed) . Section 9 . Notice of Redemption . The City shall cause notice of any intended redemption of Notes to be given not less than 30 nor more than 60 days prior to the date fixed for redemption by first-class mail , postage prepaid , to the registered owner of any Note to be redeemed at the address appearing on the Note Register at the time the Note Registrar prepares the notice , and the requirements of this sentence shall be deemed to have been j fulfilled when notice has been mailed as so provided, whether or not it is actually received by the owner of any Note . Interest on Notes called for redemption shall cease to accrue on the date fixed for redemption unless the Note or Notes called are not redeemed when timely presented pursuant to the call . In addition, the redemption notice shall be mailed within the same period , postage prepaid , to NationsBanc Montgomery Securities LLC at its principal office in Seattle , Washington, or its successor, and to such other persons and with such additional information as the City Clerk shall determine , but these additional mailings shall not be a condition precedent to the redemption of Notes . Notwithstanding the foregoing, for so long as the Notes are registered in the name of Cede & Co. , as nominee of DTC , notice of redemption shall be given in accordance with the Letter of Representations (as it may be changed) . 6 50090993.05 I Section 10. Failure to Redeem Notes . If any Note is not redeemed when properly presented at its maturity or call date , the City shall be obligated to pay interest on that Note at the same rate provided in the Note from and after its maturity or call date until that Note , both principal and interest, is paid in full or until sufficient money for its payment in full is on deposit in the Note Fund and the Note has been called for payment by giving notice of that call to the registered owner of each of those unpaid Notes and the Notes have been presented in accordance with that call . Section 11 . Form and Execution of Notes . The Notes shall be printed , j lithographed or typed on good bond paper in a form consistent with the provisions of this ordinance and state law, shall be signed by the Mayor and the City Clerk, either or both of whose signatures may be manual or in facsimile , and the seal of the City or a facsimile reproduction thereof shall be impressed or printed thereon. Only Notes bearing a Certificate of Authentication in the following form , manually signed by the Note Registrar, shall be valid or obligatory for any purpose or entitled to the benefits of this ordinance . CERTIFICATE OF AUTHENTICATION This Note is one of the fully registered City of Pasco, Washington, Limited Tax General Obligation Bond Anticipation Notes , 1999 , described in the Note Ordinance . i Washington State Fiscal Agency Note Registrar By Authorized Signer The authorized signing of a Certificate of Authentication shall be conclusive evidence that the Note so authenticated has been duly executed , authenticated and delivered and is entitled to the benefits of this ordinance . I If any officer whose facsimile signature appears on the Notes ceases to be an officer of the City authorized to sign bonds before the Notes bearing his or her facsimile signature are authenticated or delivered by the Note Registrar or issued by the City, those Notes nevertheless may be authenticated, issued and delivered and, when authenticated , issued and delivered, shall be as binding on the City as though that person had continued to be an officer of the City authorized to sign bonds . Any Note also may be signed on behalf of the City by any person who , on the actual date of signing of the Note , is an officer of the City authorized to sign bonds , although he or she did not hold the required office on the date of issuance of the Note . 50090993.05 Section 12 . Note Registrar. The Note Registrar shall keep , or cause to be kept, at its principal corporate trust office , sufficient books for the registration and transfer of the Notes which shall be open to inspection by the City at all times . The Note Registrar is authorized , on behalf of the City, to authenticate and deliver Notes transferred or exchanged in accordance with the provisions of the Notes and this ordinance , to serve as the City' s paying agent for the Notes and to carry out all of the Note Registrar's powers and duties under this ordinance and City Ordinance No . 2838 establishing a system of registration for the City' s bonds and obligations . The Note Registrar shall be responsible for its representations contained in the Note Registrar' s Certificates of Authentication on the Notes . The Note Registrar may become the owner of Notes with the same rights it would have if it were not the Note Registrar and , to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as members of, or in any other capacity with respect to , any committee formed to protect the rights of Note owners . Section 13 . Preservation of Tax Exemption for Interest on Notes . The City covenants that it will take all actions necessary to prevent interest on the Notes from being included in gross income for federal income tax purposes , and it will neither take any action nor make or permit any use of proceeds of the Notes or other funds of the City treated as proceeds of the Notes at any time during the term of the Notes which will cause interest on the Notes to be included in gross income for federal income tax purposes . The City certifies that it has not been notified of any listing or proposed listing by the Internal Revenue Service to the effect that it is a Note issuer whose arbitrage certifications may not be relied upon . Section 14 . Approval of Note Purchase Contract and Use of Note Proceeds . NationsBanc Montgomery Securities LLC of Seattle , Washington, has presented a purchase contract (the "Note Purchase Contract") to the City offering to purchase the Notes under the terms and conditions provided in the Note Purchase Contract, which written Note Purchase Contract is on file with the City Clerk and is incorporated herein by this reference . The City Council finds that entering into the Note Purchase Contract is in the City's best interest and therefore accepts the offer contained therein and authorizes its execution by City officials . The Notes will be printed at City expense and will be delivered to the purchaser in accordance with the Note Purchase Contract, with the approving legal opinion of Foster Pepper & Shefelman PLLC , municipal bond counsel of Seattle, Washington , regarding the Notes printed on each definitive Note . Except as provided in the Note Purchase Contract, bond counsel shall not be required to review and shall express no opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material s 50090993.05 issued or used in connection with the Notes , and bond counsel' s opinion shall so state . The proper City officials are authorized and directed to do everything necessary for the prompt delivery of the Notes to the purchaser, including without limitation the execution of the Official Statement on behalf of the City, and for the proper application and use of the proceeds of the sale thereof. The principal proceeds received from the sale of the Notes shall be paid into separate construction funds or accounts as deemed appropriate by the Financial Services Manager of the City (collectively, the "Construction Fund") and used to pay a part of the costs of carrying out the Projects . Accrued interest, if any, shall be deposited into the Note Fund and used for the first debt service payment. Until needed to pay those costs , the City may invest principal proceeds temporarily in any legal investment, and the investment earnings may be retained in the Construction Fund and be spent for the purposes of that fund . Section 15 . Preliminary Official Statement Deemed Final . The City Council has been provided with copies of a preliminary official statement dated April 26 , 1999 (the "Preliminary Official Statement") , prepared in connection with the sale of the Notes . For the sole purpose of the Note purchaser's compliance with Securities and Exchange Commission Rule 15c2 - 12 (b) ( 1 ) , the City "deems final" that Preliminary Official Statement as of its date , except for the omission of information as to offering prices , interest rates , selling compensation, aggregate principal amount, principal amount per maturity, maturity dates , options of redemption, delivery dates , ratings and other terms of the Notes dependent on such matters . Section 16 . Undertaking to Provide Continuing Disclosure . To meet the requirements of United States Securities and Exchange Commission ("SEC ") Rule 15c2 - 12 (b) (5) (the "Rule") , as applicable to a participating underwriter for the Notes , the City makes the following written undertaking (the "Undertaking") for the benefit of holders of the Notes : (a) Undertaking to Provide Annual Financial Information and Notice of Material Events. The City undertakes to provide or cause to be provided , either directly or through a designated agent: (i) To each nationally recognized municipal securities information repository designated by the SEC in accordance with the Rule ("NRMSIR ') and to a state information depository, if any, established in the State of Washington (the "SID") annual financial information and operating data of the type included in the final official 9 50090993.05 statement for the Notes and described in subsection (b) of this section ("annual financial information") ; (ii) To each NRMSIR or the Municipal Securities Rulemaking Board ("MSRB") , and to the SID , timely notice of the occurrence of any of the following events with respect to the Notes , if material: ( 1 ) principal and interest payment i delinquencies ; (2) non-payment related defaults ; (3) unscheduled draws on debt service reserves reflecting financial difficulties ; (4) unscheduled draws on credit enhancements reflecting financial difficulties; (5) substitution of credit or liquidity providers , or their failure to perform; (6) adverse tax opinions or events affecting the tax-exempt status of the Notes ; (7) modifications to rights of holders of the Notes; (8) Bond calls (other than scheduled mandatory redemptions of Term Bonds) ; (9) defeasances ; ( 10) release , substitution, or sale of property securing repayment of the Notes ; and ( 11 ) rating changes ; and (iii) To each NRMSIR or to the MSRB , and to the SID , timely notice of a failure by the City to provide required annual financial information on or before the date specified in subsection (b) of this section. (b) MMe of Annual Financial Information Undertaken to be Provided. The annual financial information that the City undertakes to provide in subsection (a) of this section: (i) Shall consist of ( 1 ) annual financial statements prepared (except as noted in the financial statements) in accordance with applicable generally accepted accounting principles promulgated by the Government Accounting Standards Board ("GASB") , as such principles may be changed from time to time, which statements shall not be audited, except, however, that if and when audited financial statements are otherwise prepared and available to the City they will be provided; (2) a statement of authorized , issued and outstanding general obligation debt of the City; (3) the assessed value of the property within the City subject to ad valorem taxation; and (4) ad valorem tax levy rates and amounts and percentage of taxes collected . (ii) Shall be provided to each NRMSIR and the SID , not later than the last day of the ninth month after the end of each fiscal year of the City (currently, a fiscal year ending December 31 ) , as such fiscal year may be changed as required i io 50090993.05 i or permitted by State law, commencing with the City's fiscal year ending December 31 , 1999 ; and (iii) May be provided in a single or multiple documents , and may be incorporated by reference to other documents that have been filed with each NRMSIR and the SID , or, if the document incorporated by reference is a "final official statement" with respect to other obligations of the City, that has been filed with the MSRB . (c) Amendment of Undertaking. The Undertaking is subject to amendment after the primary offering of the Notes without the consent of any holder of any Note , or of any broker, dealer, municipal securities dealer, participating underwriter, rating agency, NRMSIR, the SID or the MSRB , under the circumstances and in the manner permitted by the Rule . The City will give notice to each NRMSIR or the MSRB , and the SID , of the substance (or provide a copy) of any amendment to the Undertaking and a brief statement of the reasons for the amendment. If the amendment changes the type of annual financial information to be provided, the annual financial information containing the amended financial information will include a narrative explanation of the effect of that change on the type of information to be provided. (d) Beneficiaries . The Undertaking evidenced by this section shall inure to the benefit of the City and any holder of Notes , and shall not inure to the benefit of or create any rights in any other person. i (e) Termination of Undertaking. The City's obligations under this Undertaking shall terminate upon the legal defeasance of all of the Notes . In addition, the City's obligations under this Undertaking shall terminate if those provisions of the Rule which require the City to comply with this Undertaking become legally inapplicable in respect of the Notes for any reason, as confirmed by an opinion of nationally recognized bond counsel or other counsel familiar with federal securities laws delivered to the City, and the City provides timely notice of such termination to each NRMSIR or the MSRB and the SID . (fl Remedy for Failure to Comply with Undertaking. As soon as practicable after the City learns of any failure to comply with the Undertaking, the City will proceed with due diligence to cause such noncompliance to be corrected. No failure by the City or other i i 11 50090993.05 obligated person to comply with the Undertaking shall constitute a default in respect of the Notes . The sole remedy of any holder of a Note shall be to take such actions as that holder deems necessary, including seeking an order of specific performance from an appropriate court, to compel the City or other obligated person to comply with the Undertaking. (g) Designation of Official Responsible to Administer Undertaking. The Financial Services Manager of the City (or such other officer of the City who may in the future perform the duties of that office) or his or her designee is authorized and directed in his or her discretion to take such further actions as may be necessary, appropriate or convenient to carry out the Undertaking of the City in respect of the Notes set forth in this section and in accordance with the Rule , including, without limitation, the following actions : (i) Preparing and filing the annual financial information undertaken to be provided; (ii) Determining whether any event specified in j subsection (a) has occurred, assessing its materiality with respect to the Notes , and, if material, preparing and disseminating notice of its occurrence; (iii) Determining whether any person other than the City is an "obligated person" within the meaning of the Rule with respect to the Notes, and obtaining from such person an undertaking to provide any annual financial information and notice of material events for that person in accordance with the Rule ; (iv) Selecting, engaging and compensating designated agents and consultants, including but not limited to financial advisors and legal counsel, to assist and advise the City in carrying out the Undertaking; and (v) Effecting any necessary amendment of the Undertaking. Section 17 . Capital Projects Budget Amendment. Section one of Ordinance No . 3324 is amended to read as follows : Section One . That capital projects are hereby authorized as detailed below. The following schedule summarizes ( 1 ) newly authorized projects , (2) previously authorized projects 12 50090993.05 1 which have had authorization increased and (3) previously authorized projects which have had authorization decreased. Increase Total Previous (Decrease) New Project Authoritv Authori Project Authori ty Capital Projects 1999 Overlays $ 0 $ 0 $ 540, 000 $ 540, 000 Fire Apparatus 0 0 2259000 2259000 First Station #81 Relocation 0 0 959;999 956;989 14250. 000 142504000 New Ambulance 0 0 1009000 1009000 Libra1y Improvements 750. 000 100. 000 0 8509000 Civic Center Improvements 0 0 300. 000 300.000 T.V. Cable to Station #82 0 0 409000 40,000 W. Lewis St Corridor 0 0 2209000 2209000 Rivershore Enhancement Phase I 0 0 1209000 1209000 Softball Fields 0 0 { 009096) 09) 3.6004000 3. 6000000 14th Ave Sewer Relay 0 0 1109000 1109000 Riverview Sewer Interceptor Ext 0 0 509000 509000 S. E. Pasco Sewer Interceptor 0 0 509000 509000 Vactor Truck 0 0 250,000 2509000 Ainsworth Railroad Crossing 0 0 5009000 500,000 Rd 36 Reconstruction/Overlay 0 0 559000 55 , 000 Rd 44 Overlay 0 0 669000 65 , 000 Water Filter Plant Improvements 0 0 109000 109000 Water Plant Control Upgrade 0 0 1009000 1009000 Misc. Storm Drain Additions 0 0 259000 259000 Replacement of AC Wtr Pipe 0 0 1009000 1009000 Process Water Reuse Facility 0 0 659000 659000 Water Dist. Line Extensions 0 0 100,000 100,000 Water Meter Replacement 0 0 60, 000 609000 Misc. Water Improvements 0 0 50, 000 509000 Sewer Line Misc. 0 0 50,000 509000 Sewer Line Replacement 0 0 2009000 200,000 Misc. Street Improvements 0 0 259000 259000 Mobile Data Terminals 1729000 200, 000 0 372 ,000 Sunny Meadows Park 759000 759000 0 1509000 Naval Base Pump Station Rehab 100.000 504000 0 150. 000 $ 19097, 000 $425 , 000 $89261 , 000 $997829000 I 13 50090993.05 Section 18 . Effective Date of Ordinance . This ordinance shall take effect and be in force from and after its passage and five days following its publication as required by law. PASSED by the City Council and APPROVED by the Mayor of the City of Pasco, Washington, at a regular open public meeting thereof this 3rd day of Ma 19990 h les D . Kilbury Mayor ATTEST: Catherine D . Seaman, Deputy City Clerk APPROVED AS TO FORM: FOSTER PEPPER & SHEFELMAN PLLC Special Counsel and Bond C u sel i 14 50090993.05