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HomeMy WebLinkAbout1255 ResolutionCITY OF KENNEWICK RESOLUTION NO. 79-48 CITY OF PASCO RESOLUTION NO. 1255 A JOINT RESOLUTION OF THE CITIES OF KENNEWICK AND PASCO CONCERNING FINANCING THE LOCAL SHARE OF CONSTRUCTION COSTS OF THE INTER -CITY BRIDGE WHEREAS, the City of Kennewick and the City of Pasco under- took a project for the construction of a new bridge across the Columbia River between the two cities; and WHEREAS, said bridge is now in place and is proficiently serving the transportation needs of the two cities in particular and the transportation needs of the entire Tri -Cities in general; and WHEREAS, the construction of said bridge resulted in a sub- stantial debt owed to the State of Washington; and WHEREAS, both cities are committed to the obligation to expeditiously settle the debt owed to the State of. Washington; and WHEREAS, both cities have had to issue disparate amounts of general obligation bonds in 1976 to assist in the financing of this bridge; and WHEREAS, both cities have examined past agreements in an effort to determine the proportionate split of the debt applying to each of the cities; and WHEREAS, the cities have been unsuccessful in reaching a common understanding as to the meaning of these past agreements; and WHEREAS, both cities desire to maintain a relationship of mutual cooperation and mutual concern about the welfare and financial liability of the two cities; and WHEREAS, the two cities believe that an understanding on the ratio of financial participation in the cost of construction of the new bridge is desirable; NOW, THEREFORE, BE'IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KENNEWICK AND THE CITY COUNCIL OF THE CITY OF PASCO AS FOLLOWS: Section 1. Wherever provisions of previous joint resolutions between the City of Kennewick and the City of Pasco conflict with the intent of this joint resolution, they shall be superseded by the provisions of this resolution. Section 2. The general obligation bonds issued in equal amounts by the City of Pasco and the City of Kennewick in 1971 shall continue to be paid equally by each of the cities. Section 3. The total combined debt service payment on the 1976 councilmanic bonds issued by the City of Kennewick and the City of Pasco shall be paid off on a ratio of 55 percent allocable to the City,of Kennewick and 45 percent allocable to the City of Pasco. Section 4. The loan from the Washington State Department of Transportation shall be paid off by councilmanic bonds at a ratio of 45 percent by the City of Pasco and 55 percent by the City of Kennewick. If the City of Pasco is unable to issue bonds to cover its total 45 percent share because of debt limitation laws, then the City of Pasco will issue councilmanic bonds to its limit and the City of Kennewick will issue douncilmanic bonds for the difference. The City of Pasco and the City of Kennewick will pay the debt service on their allocable portion of the combined bonds according to the aforementioned ratio. Section 5. To affect a ratio of 45 percent for the City of Pasco and 55 percent for the City of Kennewick on past debt service payments on the 1976 councilmanic bonds, the City of. Pasco shall pay to the City of Kennewick $15,465 by July 1, 1979.. Section 6. To affect a ratio of 45 percent for the City of Pasco and 55 percent for the City of Kennewick for gas tax payments made to the Washington State Department of Transportation up to July 1, 1979, the City of Pasco shall pay to the City of Kennewick $16,373 by July 1, 1979. Section 7. Except for costs covered by Section 2, any costs associated with the cost of the original construction of the new bridge will be shared 45 percent by the City of Pasco and 55 percent by the City of Kennewick. Section 8. Should funds pertaining to the new bridge remain after payment of all design, construction, and administrative costs have been made, or should any other refunds applicable to the new bridge be made, these funds shall be returned to the cities by ratio of 45 percent to the City of Pasco and 55 percent to the City of Kennewick. Section 9. As stated in a motion adopted at a joint meeting of the Cities of Pasco and Kennewick on September 12, 1978, the cities will share equally in the cost of maintaining Ahe old bridge. As long as the main span on the old bridge is still standing, this cost shall be shared. Section 10. As stated in City of Kennewick Resolution No. 79-26 and the City of Pasco Resolution No. 1247, the cities confirm that each will share equally in the 20 percent local cost of demolishing the old bridge, with 10 percent of the local cost being chargeable to each of the cities. Section 11. This resolution does not supersede provisions of Pasco Council action of April 2, 1979, approving Pasco contributing $4,212.50 as its part of the local matching requirement for the $31,500 Kennewick Triangle Project. PASSED BY THE CITY COUNCIL OF THE CITY OF KENNEWICK, WASHINGTON, this J� sday of June, 1979 and signed in authentication of its passage this_S7�!;e day of June, 1979. DONALD E. KUHNS, Mayor Page Two Attest: M. A. PRICE, City Clerk Approved as to fgrm.4, W LLII . CAMERON, City Attorney PASSED BY THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, this day day of June, 1979 and signed in authentication of its passage this % r day of June, 1979. CHET BAILIE, Mayor At t e,s t-: kVELYN WELLS, City Clerk Approved as to form: I ijl�� 1. n h op DENNIS DE FELUCE, City Attorney Page Three I . , June 19, 1979 Mr. Joe Painter- City Manager City of Kennewick P.O. Box 0,108 Kennewick, 'Washington.99336 Dear Mr.,Painter: At the regular meeting of the Pasco City Council, held June 13, 1979, they passed joint Resolution No. 1255 with the City of Kennewick concerning financing the local share of construction costs of the Inter-City Bridge. A signed copy.of that Resolution is attached for your perusal. Thank you'for your mutual cooperation in this matter. Sincerely yours,. Evelyn Wells City Clerk ew cc to: Lee Kraft, City Manager I