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Home My WebLink About1992 Ordinancec 5 CITY OF PASCO, WASHINGTON ORDINANCE NO. 1992 AN ORDINANCE of the City of Pasco, Washington, providing for (1) improvement of existing parks and park facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and (2) acquisition of new land for park purposes; declaring the estimated cost thereof as nearly as may be; providing for the borrowing of a total of $500,000 and issuing and selling negotiable general obliga- tion bonds to pay the cost thereof, such bonds to be payable by annual property tax levies to be made without limitation as to rate or amount; and providing for the submission of the proposition of incurring such indebtedness and issuing such bonds to the qualified voters of the City at a special election to be held therein on November 7, 1978, in conjunction with the general State election on the same date; and declaring an emergency. WHEREAS, the City is in urgent need of improving existing parks and park facilities and acquiring new land for park purposes; and the City does not have available sufficient funds to meet the estimated cost of such improvements; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN, as follows: Section 1. The City of Pasco, Washington (the "City"), shall (1) improve existing parks and park facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and '(2)" acquire new land for park purposes, the estimated cost of which is hereby declared to be as nearly as may be the sum of $500,000. CITY OF PASCO, WASHINGTON ORDINANCE NO. 1992 AN ORDINANCE of the City of Pasco, Washington, providing for (1) improvement of existing parks and park facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and (2) acquisition of new land for park purposes; declaring the estimated cost thereof as nearly as may be; providing for the borrowing of a total of $500,000 and issuing and selling negotiable general obliga- tion bonds to pay the cost thereof, such bonds to be payable by annual property tax levies to be made without limitation as to rate or amount; and providing for the submission of the proposition of incurring such indebtedness and issuing such bonds to the qualified voters of the City at a special election to be held therein on November 7, 1978, in conjunction with the general State election on the same date; and declaring an emergency. WHEREAS, the City is in urgent need of improving existing parks and park facilities and acquiring new land for park purposes; and the City does not have available sufficient funds to meet the estimated cost of such improvements; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN, as follows: Section 1. The City of Pasco, Washington (the "City"), shall (1) improve existing parks and park facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and '(2)" acquire new land for park purposes, the estimated cost of which is hereby declared to be as nearly as may be the sum of $500,000. • h ! Section 2. The City shall borrow the total sum of $500,000 on the credit of the City and issue and sell its negotiable general obligation bonds therefor for strictly municipal capital purposes other than the replacement of equipment, for the purpose of providing the funds in the amount and for the purposes specified in Section 1 hereof. Section 3. The general obligation bonds herein authorized to be issued shall be serial in form, shall bear interest at a maximum effective rate not exceeding eight percent (80) per annum, payable semiannually, and shall mature in from two to twelve years from date of issue (the life of the improve- ments to be acquired by the issuance of bonds hereby found to be at least twelve years) in such amounts, as nearly as practicably annually, as will result in a difference of not more than $5,000 between the highest and lowest annual payment of principal and interest, excluding the first two years from date of issue, computed on such anticipated interest rate as the City Council of the City shall in its discretion determine will be borne by such bonds and shall be paid by annual property tax levies made without limitation as to rate or amount sufficient in amount to pay the interest on and principal of the bonds when due, and the bonds shall so provide. The bonds shall be redeemable at the option of the City at such time as shall hereafter be determined by ordinance. The date, interest rate or rates, maturities, form and covenants of the bonds shall be hereafter fixed by ordinance of the City Council and the bonds shall be issued and sold when required in one or more series, and may be combined with any other series of general obligation bonds hereafter authorized. Section 4. The City Council finds that an emergency exists requiring (1) improvement of existing parks and park -2- facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and (2) acquisition of new land for park purposes. The Franklin County Auditor, as ex officio Supervisor of Elections, is hereby requested to concur in the finding of the existence of an emergency and to call and conduct a special election to be held in the City on November 7, 1978, in conjunction with the general State election on the same date for the purpose of submitting to the qualified electors of the City, for their ratification or rejection, the question of whether or not the City shall borrow $500,000 and issue its negotiable general obligation bonds therefor for capital purposes only, other than replacement of equipment, as herein set forth. Section 5. The Clerk of the City is hereby directed to certify to the Franklin County Auditor, as ex officio Supervisor of Elections, a copy of this ordinance and the proposition to be submitted at that special election in the form of a ballot title as follows: PROPOSITION PARK FACILITIES BONDS - $500,000 Shall the City borrow the sum of $500,000 and issue its general obligation bonds therefor, payable by annual property tax levies to be made without limitation as to rate or amount and maturing in from two to twelve years from the date of issue, for the purpose of (1) improve- ment of existing parks and park facilities by renovating three swimming pools, acquiring and installing new playground equipment, basketball courts and tennis courts and making miscellaneous park improvements, including landscaping, and (2) acquisition of new land for park purposes, as provided by Ordinance No. passed September 18, 1978? BONDS . . . YES [ ] BONDS . . . NO [ ] -3- Section 6. This ordinance shall take effect and be in force five (5) days after the date of its publication in the manner required by law. PASSED by the City Council of the City of Pasco, Washington, at a regular open public meeting thereof, and APPROVED by the Mayor this 18th day of September, 1978. ATTE ,City Cler FORM APPROVED: C24zi,,2azz City Attorney -4- Mayor POST OFFICE BOX 293 1 PASCO, WASHINGTON 99301 September 19, 1978 Ms. Dorothy Towne County Auditor Franklin County Courthouse 1015 North Fifth Avenue Pasco, Washington 99301 Dear Ms. Towne: The City Council of the City of Pasco, by action taken at its Regular Meeting, Monday night, September 18, 1978, requests that the following Advisory Ballot question be placed on the November General Election Ballot: "For a cleaner city, would you favor a total solid waste pick-up service for you and your neighbors at a cost not to exceed $5.00 per month as compared with the present service of two thirty -gallon cans a week at $2.75 per month?" Yes .= No If you have any questions concerning this matter, please be in touch with me at 545-3404. Thank you. Sincerely, Lela nd F , Kra - City Manager LFK:Ig cc: Evelyn Wells, City Clerk