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HomeMy WebLinkAbout0610 OrdinanceORDINANCE NO. AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF WATER REVENUE BONDS IN THE TOTAL PRINCIPAL SUM OF $200,000.00 TO PROVIDE FUNDS FOR THE PAYMENT OF THE COSTS OF CERTAIN IMPROVEMENTS, ADDITIONS AND BETTERMENTS TO THE EXISTING WATER SYSTEM OF THE CITY OF PASCO, NAMELY, THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF A WATER FILTRATION PLANT AND FACILITIES AS PROVIDED IN ORDINANCE NO. 579, PASSED AND ADOPTED SEPTEMBER 17, 1946, ADOPTING A PLAN THEREFOR AND DECLARING THE ESTIMATED COSTS THEREOF AS NEAR AS MAY BE DETER- MINED, THE EXACT FORM, DATE OF MATURITIES AND OTHER DETAILS OF THESE REVENUE BONDS TO BE HEREAFTER FIXED BY THE CITY COUNCIL; PROVIDING FOR THE EVENTUAL CREATION AND ESTABLISHMENT OF A SPECIAL FUND TO PAY THE PRINCIPAL AND INTEREST OF SUCH BONDS. WHEREAS, it is immediately vital to the health of the inhabitants of the City of Pasco that the municipal water supply of said City be purified by filtration and other treatment; and WHEREAS, the City Council, City of Pasco, Washington, by Ordinance No. 3412 passed and approved May lst, 1923, authorized the acquisition, improvement and extension of a municipal water system, which ordinance was submitted to the qualified voters of the City of Pasco for their approval and ratification or rejec- tion at an election held on June 2nd, 1923, and, WHEREAS, at the said election of June 2, 1923, held pursu- ant to Ordinance No. 341,, the qualified voters of the City of Pasco voted in favor of acquiring, constructing and maintaining a water system for the City of Pasco, and, in accordance therewith, the City did acquire a water system previously owned and operated by the Pacific Power and Light Co., and, WHEREAS, by Ordinance No. 579 passed by the City Council on September 17, 1946, a plan for making certain additions, im- provements and betterments to the existing water system of the City was adopted, which plan provided for the construction of a municipal water filtration plant and facilities, and a general obligation bond issue of $132,000.00 for the capital purpose of paying so much of the cost to the City of Pasco of this project; and the proposed project and bond issue were approved, ratified and authorized at a special municipal election held on November 5, 1946; -Ordinance No. 582"p assed by the City Council on December 17, 1946, and Ordinance No. 589 passed by City Council on March 14, 1947, fixed the date, the annual maturity and the form of said bonds and provided for their advertisement, sale and issu- ance; and, WHEREAS, the sum of $58,372.26 has been allocated to the City of Pasco by the State of Washington for aid to the foregoing proposed project; and, WHEREAS, J. W. Cunningham and Associates, Consulting Engineers of Portland, Oregon, have now provided the City Council with further information and advice on the probable total cost of the foregoing project, NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO DO ORDAIN AS FOLLOWS: Section 1. The City of Pasco hereby specifies and adopts -1- the plan for making certain additions and betterments to the existing municipal water works system, namely, the acquisition, construction and installation of a municipal water filtration plant and facilities which shall consist of the following as additions to, and connected with, the municipally owned water system of Pasco« A water filtration plant for the treatment and purification of the Columbia River water, consisting of mixing, settling and storage basins, filters, accessories and piping, pumps, controls, and a building to house the same. The plant will be located on property now owned -by the City of Pasco in Blocks 6 and 10, Riverside Addition, in the City of Pasco. The water filtration plant will include the necessary struc- tures, chemical dosing equipment, mixing machines, flocculator, filters, collecting pipes, auxiliary equipment for washing and mechanical control, equipment for applying chlorine and ammonia, a clear water well, and high service pumps to deliver the filtered water into the existing distribution system, all of which will provide for removal of most of the sediment and impurities of raw water by chemical dosing, mixing, flocculation, coagulation and settling, for filtration of the water and for application of chlor- ine and ammonia to remove all possible chance for contamination, for storage of the water in a clear water well (covered reservoir) until delivered to the existing distribution system, and for pumping the water from the clear water well into the existing dis- tribution system, The water filtration plant will have a capacity of approx- imately six million gallons per day, and will be of such design as to permit, with additional filters, future increase of capa- City. The existing pumping plant will be modified and adapted in structure and equipment as necessary to provide for pumping raw water from the Columbia River against a low head to the water fil- tration plant located in said Riverside Addition and, if practi- cable, to permit the transfer -of one or more of the high head .pumps from the existing pumping plant to the filtration plant for use in high service pumping of filtered water from the clear water' well of the filtration plant into the existing distribution system. Pipe lines will be laid to connect the filtration plant with existing pipe lines so that raw water from the existing 18 inch trunk lines can be carried to the filtration plant and so that filtered water can be delivered from the clear water well of the filtration plant to the existing distribution system. Said connections will be made at points near to the intersection of 12th (Chelan) Street and West "B"' Street in said city, said intersection being adjacent,to said property owned by the City of Pasco and on which the filtration plant will be constructed; and in order to pay so much of the cost to the City of Pasco of the foregoing plan, which is for, and shall include, capital purposes only, the City of Pasco shall sell and issue its gen- eral obligation negotiable serial coupon bonds in the principal amount of $132,000.00 and provide for the payment of the bond principal and interest by approximately equal annual tax levies in excess of the tax levy limitation upon Washington cities ex- press"Te in the Statute and Constitution of the State of Washington. Section 2. The revised estimated cost of all the addi- tions, improvements,and betterments hereinbefore in this order -2- specified, is hereby found and declared to be, as near as may be determined, approximately the sum of $390,372.26. Section 3. In order to carry out'the plan specified and adopted in Section 1 of this Ordinance, the City of Pasco does hereby propose and -adopt as an integral part of the described plan for additions, improvements and betterments to its existing water system, the issuance and sale of water revenue bonds in an amount not exceeding $200,000.00, this being the balance of funds necessary to complete the project authorized and commenced under the authority of Ordinance No. 579 and specifically described and adopted in Section 1 hereof. Said bonds shall be serial bonds, all of which shall mature within twenty (20) years from date, which said bonds shall bear the dates of their issue and shall be issued in such amounts and at such time or times, or from time to time, and in such place or places, as the City Council may by resolution direct. The bond of each separate series or install- ment authorized from time to time shall be numbered from one (1) up, consecutively and shall mature not less than two (2) years from date of issuance on any semi-annual interest date. Said bonds shall bear interest not exceeding six percent (6f) per annum, payable semi-annually for which interest coupons ' shall be attached to and be a part of said bonds, the exact form, date of maturities and other details of the bonds, not herein specified, shall be hereafter fixed by ordinance. The bonds shall be paid from the revenues of the municipal water system of said city. Section 4. The City of Pasco reserves the right to redeem all or -any part of the last series of bonds 0 the total princi- pal amount of $25,000.00 on any interest payment date on or after one year from the date of issue, and further reserves the right to redeem ahy other bonds on any interest payment date on or after seven years from the date of issue, redemption of any or all bonds under the provisions of this section shall be at par and accrued interest in inverse numerical order. Thirty days notice of any intended redemption shall be given by publi- cation thereof in a newspaper of general circulation in the City of Pasco. Interest on any bonds so called for redemption shall cease on such redemption date. Section 5. There shall be created and established a special fund, in accordance -with the requirements of the statutes of the State of Washington, to be called the "Pasco Water Revenue Bond Fund of 1948"', which fund is to be drawn upon for the sole pur- pose of paying the interest, or principal and interest, of the bonds. From and after the date of the bonds, and so long there- after as obligations are outstanding against such fund, the City Treasurer shall set aside and pay into the fund, thirty (30) days prior to the respective dates on which interest, or princi- pal and interest, of said bonds shall become due and payable, certain fixed amounts out of the gross revenues of said munici- pal water works system now belonging to, or which may hereafter belong to, said City, including the additions, betterments and extensions herein provided for, equivalent to the respective amounts of interest, or principal and interest, as the case may be, so falling due upon any and all bonds issued hereunder and then outstanding. Section 6, The City of Pasco hereby binds itself not to sell, lease, or in any manner dispose of the municipal waterworks system now belonging to it, or which may hereafter belong to it, including the additions, betterments and extensions herein pro- vided for, until all obligations outstanding against, or payable from, said special fund hereby created shall have been paid in full; or, in case it shall sell or dispose of the same before such payment, not to make any such sale or disposition without -3- then or theretofore providing that from the proceeds of such sale or disposition, after the payment of all prior charges, there shall be placed in such special fund a sum sufficient in amount to discharge, and to be used for no other purpose than -the dis- charge of, principal and interest of all bonds issued hereunder and then remaining unpaid, and not, in any event, to sell or dis- pose of sucks municipal waterworks system, or any substantial part thereof, for a sum less than enough to discharge and pay the bonds herein authorized, and the interest thereon. The City of Pasco further binds itself to establish from time to time and maintain such rates for water as will provide suffic- ient revenues to permit the payment of said sums into such special fund which said City has pledged to be set aside fbr the payment of principal and interest, as herein provided, to be applied to the payment of the principal and interest of the bonds herein author- ized, until such bonds shall have been paid in full, and, in addi- tion thereto, all costs of operation and maintenance, and all bonds, warrants and indebtedness for which any revenues of such system have heretofore been pledged. Section 7. The ordinance providing for the issuance and sale of said bonds shall contain such covenants and provisions as shall be permitted by law and found necessary or convenient for the protection of the holder of such bonds. Section B. The City of Pasco shall forthwith proceed to sell the water revenue bonds herein provided for at public sale and the Clerk is directed to dive .notice of such sale by pub- lication thereof in the 7i eII f�� r- and that copies of such notice )be published in financialjournals of general circulation as may be and are customarily studied and read by prospective buyers of municipal bond issues„ each of the aforesaid publications shall be at least fourteen (�4) days prior to the date of sale; all bids t eref r shall be opened and pub- licly read at 2:30 P.M. on the 8 day of1948, inmediatel Sect�.on: 9. This ordinance shall take effect 9' upon its passage, approval and publication as required :by law. ayor. . ATTEST: i y Ordinance Introduced: Dec Zrbe16, 1947 Ordinance Given its First Reading: December 169 1947 Ordinance Given its Second Reading: JanuarykV.1 1948 Ordinance Given its Third Reading: January4y , 1948 Ordinance Passed by City CoyLncil and Approved by Mayor: 1948 The foregoing Ordinance approved s to form before passage: City Attorney, - 1948,