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HomeMy WebLinkAbout3494 Ordinance ORDINANCE NO. 3494 AN ORDINANCE AUTHORIZING THE ACQUISITION OF THE PROPERTY KNOWN AS THE HUMANE SOCIETY PROPERTY & BUILDINGS AND A FINANCING CONTRACT AND RELATED DOCUMENTATION FOR SAID REAL PROPERTY. WHEREAS, the City of Pasco, Washington, has executed a Notice of Intent (NOI) to the Office of State Treasurer, in the form attached hereto as Annex 1, in relation to the acquisition of and the financing of the acquisition, improvement and betterment (collectively, the "acquisition") of the Property, as defined below, under the provisions of RCW Ch 39.94; and WHEREAS, it is deemed necessary and advisable by the City Council of the City of Pasco that the City of Pasco acquire the real property identified on Annex 1 attached hereto (Property); and WHEREAS, it is deemed necessary and advisable by the City Council of the City of Pasco that the City of Pasco enter into a Local Agency Financing Contract with the Office of the State Treasurer, in the form attached hereto as Annex 2 (the "Financing Contract"), in an amount not to exceed $276,000, in order to acquire the Property, and finance the acquisition of the Property and related financing costs. WHEREAS, the City of Pasco will undertake to acquire and/or improve the Property on behalf of and as agent of the Washington Finance Officer's Association (the "WFOA") pursuant to the terms of the Financing Contract, and in accordance with all applicable purchasing statutes and regulations applicable to the City of Pasco. WHEREAS, the City of Pasco desires to appoint the individuals set forth in Annex 3 as the representatives of the City of Pasco in connection with the acquisition of the Property and execution of the Financing Contract (each as "Authorized Agency Representative"); THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN AS FOLLOWS: SECTION 1: The individuals holding the offices or positions set forth in Annex 3 are each hereby appointed as a representative of the City of Pasco in connection with the acquisition of the Property and execution of the Financing Contract and all other related documents. A minimum of 2 Authorized Agency Representatives shall be required to execute any one document in order for it to be considered duly executed on behalf of the City of Pasco. SECTION 2: The form of the Financing Contract attached hereto as Annex 2 is hereby approved and the Authorized Agency Representatives are hereby authorized and directed to execute and deliver the Financing Contract, in an amount not to exceed $276,000 and in substantially the form attached hereto with such changes as may be approved by the Authorized Representatives, for the acquisition of the Property and financing of the acquisition of the Property and related financing costs. SECTION 3: The City of Pasco hereby authorizes the acquisition of the Property as agent of the WFOA in accordance with the terms and provisions of the Financing Contract. SECTION 4: The Authorized Agency Representatives are hereby authorized to execute and deliver to the Office of the State Treasurer all other documents, agreements and certificates, and to take all other action, which they deem necessary or appropriate in connection with the financing of the Property, including, but not limited to, any amendment to the NOT, any tax certificate and any agreements relating to initial and ongoing disclosure in connection with the offering of securities related to the financing. SECTION 5: This ordinance shall take full force and effect immediately upon its approval, passage and publications required by law. Passed by the City Council of the City of Pasco, Washington, at a regular meeting thereof held this 17"` day of September, 2001. Michael L. b6rrison, Mayor ATTEST: APPR AS TO FORM: Catherine D. Seaman, Deputy City Clerk Leland B. Kerr, City Attorney