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HomeMy WebLinkAbout3280 OrdinanceCITY OF PASCO, WASHINGTON ORDINANCE NO 3 am AN ORDINANCE of the City of Pasco, Washington, relating to incurring indebtedness, providing for the submission to the voters of the City at a special election to be held therein on March 10, 1998, of a proposition authorizing the City to incur indebtedness by issuing its general obligation bonds m a par amount not to exceed $1,700,000, payable by annual property tax levies to be made in excess of regular property tax levies, for the purpose of paying all or a part of the cost of renovating the Pasco Library and to relocate the Pasco City Fire Station No 1 by acquiring, constructing and equipping a new fire station and to levy those excess property taxes, and ratifying and approving all actions consistent with this ordinance WHEREAS, the City of Pasco, Washington (the "City"), is m urgent need of renovating the Pasco Library, includmg reconstructing the roof, upgrading the electrical, lighting and research facilities, expandmg the reading room and upgrading other facilities to comply with the Americans with Disabilities Act, and to relocate Pasco City Fire Station No 1 by acquiring, constructing, and equipping (to the extent permitted by law) a new fire station to improve emergency response services to the citizens of Pasco, and the City does not have sufficient funds available for that purpose to meet the estimated cost of those improvements, NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN as follows Section 1 The City shall renovate the Pasco Library, including but not limited to reconstructing the roof, upgrading the electrical, lighting and research facilities, expanding the reading room and upgrading other facilities, including meeting the requirements of the Americans with Disabilities Act (the "Library Project") The estimated cost of the Library Project, including the costs of issuing and selling the bonds authorized by this ordinance, is 0318675 01 declared to be, as nearly as may be, $750,000 The economic life of the improvements comprismg the Library Project is expected to be at least twenty years Section 2 The City shall relocate Pasco City Fire Station No 1 by acquiring, constructing and equipping (to the extent permitted by law) a new fire station to improve emergency response services to the citizens of Pasco (the "Fire Station Project") The estimated cost of the Fire Station Project, including the costs of issuing and selling the bonds authorized by this ordinance, is declared to be, as nearly as may be, $950,000 The economic life of the improvements comprising the Fire Station Project is expected to be at least twenty years Section 3 The City shall borrow not to exceed $750,000 on the credit of the City and issue and sell its general obligation bonds m that principal amount for strictly municipal capital purposes, other than the replacement of equipment, to provide the funds for the Library Project and not to exceed $950,000 on the credit of the City and issue and sell its general obligation bonds in that principal amount for strictly capital purposes, other than the replacement of equipment, to provide funds for the Fire Station Project Costs of engineering, planning, financial, legal and other services lawfully incurred incident to each Project shall be appropriate capital costs to be paid from the proceeds of the respective bond issues authorized by this ordinance The City Council declares that to the extent, if any, the City prior to the date bonds or other short-term obligations are issued to finance the Library Project and Fire Station Project shall make capital expenditures for those Projects from funds that are not (and are not reasonably expected to be) reserved, allocated on a long-term basis or otherwise set aside by the City under its existing and reasonably foreseeable budgetary and fmancial circumstances to fmance the Projects, those capital expenditures are intended to be reimbursed out of proceeds of the bonds 0318675 01 -2- or other short-term obligations issued in an amount not to exceed the principal amount of each of such Projects provided by this ordinance Section 4 The bonds shall be issued as a single issue for each Project, as a part of a combined issue with other authorized bonds, or in more than one series The bonds shall be fully registered, shall bear interest payable as permitted by law, shall mature within twenty years from their date or within any shorter period fixed by the City Council, shall be paid by annual property tax levies sufficient m amount to pay both principal and interest when due, which annual property tax levies shall be made m excess of regular property tax levies without limitation as to rate or amount but only in amounts sufficient to pay both principal and interest when due, and shall be issued and sold m the manner, at the times and m the amounts as shall be required for each applicable Project The exact date, form, terms, option of prior redemption, if any, price, interest rate or rates and maturities of the bonds shall be fixed hereafter by ordinance of the City Council Pending the issuance of the bonds and receipt of their proceeds, the City Council may authorize the issuance of short-term obligations pursuant to chapter 39 50 RCW, and the costs of those short-term obligations shall be included in the cost of the Project for which the bonds are issued Section 5 The City Council finds that an emergency exists which requires making, constructing and acquiring the improvements comprising the Library Project and Fire Station Project, and the Auditor of Franklm County, Washington, as ex officio Supervisor of Elections, is requested to concur m that findmg and to call and conduct a special election to be held m the City on March 10, 1998, for the purpose of submitting to the qualified electors of the City for their approval the questions of whether or not the City shall borrow not to exceed $750,000 for the Library Project and $950,000 for the Fire Station Project, issue its general obligation bonds 0318675 01 -3- in those principal amounts for capital purposes only, other than replacement of equipment, and levy excess taxes necessary to redeem the bonds as herein set forth Section 6 The City Clerk is directed to certify to the Auditor of Franklin County, Washington, as ex officio Supervisor of Elections, at least 45 days prior to the March 10, 1998, special election date a copy of this ordinance and the proposition to be submitted at that special election m the form of ballot titles as follows PROPOSITION NO 1 LIBRARY BONDS - $750,000 Shall the City of Pasco, Washington, borrow $750,000 to renovate the Pasco Library, including reconstructing the roof, upgradmg the electrical, lightmg and research facilities, expanding the reading room and carrying out other capital purposes and by selling general obligation bonds therefor maturing within 20 years and levy annual excess property taxes necessary to pay and retire the bonds, as provided m Ordinance No and Resolution No 9 BONDS YES El BONDS NO 0 PROPOSITION NO 2 FIRE STATION BONDS - $950,000 Shall the City of Pasco, Washington, borrow $950,000 to relocate its Fire Station No 1 by acquiring, constructing and equipping ( to the extent permitted by law) a new fire station to improve emergency response services by selling general obligation bonds therefor maturing within 20 years and levy annual excess property taxes necessary to pay and retire the bonds, as provided in Ordinance No and Resolution No 9 BONDS YES 0 BONDS NO 0 Section 7 All actions taken to submit this ordinance and the ballot propositions contained therein to the Franklin County Auditor on or prior to January 23, 1998, are ratified and approved 0318675 01 -4- meeting thereof, and signed in authentication of its passage is, 20th day of January, 1998 n Mayor City Clerk APPROVED AS TO FORM City Attorney PASSED by the City Council of the City of Pasco, Washington, at a regular open public 0318675 01 -5- I, Daniel L Underwood, City Clerk of the City of Pasco, Washington, certify that the attached copy of Ordinance No is a true and correct copy of the original ordinance passed on the 20th day of January, 1998, as that ordinance appears on the Muiute Book of the City DATED this day of , 1998 Daniel L Underwood City Clerk 0318675 01 DESCRIPTION ofil TIMES - - 'P 0 BOX 2608 PASCO, WASHINGTON 99302-2608 PHONE (509) 582-1500 LE L EFITISfiNG INVOICE DATE o / /25/ LEGAL NO IV )103 -t -ti:- ç) ACCOUNT NO — 1ft CITY OF F ASCO , WASH I1\11.3 TO LINES ' — PO SOLD TO FASCO, CITY OF LEGALS P.O. BOX 297 F ASCO WA 3:1701. TOTAL $ 7.81 £11 NOTOCE - This Is an invoice for legal advertising space Please pay from this invoice as no statement will be rendered Please detach at perforation and return with payment AFROAKT OF FEROUVATI100 COUNTY OF BENTON SS STATE OF WASHINGTON , being duly sworn, deposes and says, I am the Legal Clerk of the Tn-City Herald, a daily newspaper That said newspaper is a legal newspaper and has been approved as a legal newspaper by order of the superior court in the county in which it is published and it is now and has been for more than six months prior to the date of the publication hereinafter referred to, published countinually as a daily newspa- per in Benton County, Washington That the attached is a true 103 CITY OF rnsco W A S1 -1111(3 I 0 copy of a as it was printed in the regular and entire issue of the Tn-City Herald itself and not in a s_upplerDent 1 /hereof, time(s), commencing on - , and ending on 01 /E'/:' , and that said newspaper was regulary distributed to its subscribers during all of this period 1- IN 13E:701_ D " JAN 2 9 19,93 FINANCE DEPT SUBSCRIBED AND S ORN BEFORE ME THIS A e- i "1 ,-ICUrin I 9T -- DAY OF Notary public in and for the State of Wash- ington, residing at Kennewick. 1. c I-IL AND , COMMISSION EXPIRES ("/ I Ul( )1 tok) CITY OF PASCO WASHINGTON ORDINANCE NO 3280 AN ORDINANCE of the City Of Pasco Washington relat ing to incurring indebted- hess providing for the sub- mission to the voters of the City at apspecial election to be held' therein on March 10 1998 of a proposition authorizing the City to incur indebtedness by issuing its general ,ibligation bonds in a par amount not to exceed $1 700 000 payable by brinual property tax levies to be made in excess of regu- lar property tax levies for the purpose of paying all or a part of the cost of renovat- ing the Pasco Library and to relocate the Pasco City Fire Station No 1 by acquiring constructing and equipping new expanded fire station and to levy those excess property taxes WHEREAS the City of Pasco Washington (the City) is in urgent need of rianovating the Pasco lubrary including recon structing the roof upgrading the electrical lighting and research facilities expand- ing the reading room and upgrading other facilities to comply with the Amencans with Disabilities Act and to Celocate Pasco City Fire Station No 1 by acquiring constructing and equipping Go the extent permitted by law) a new expanded fire station to maintain emer gency response services to the citizens of Pasco and the City does not have suffi- cient funds available for that purpose to meet the esti- mated cost of those improvements NOW THEREFORE THE CITY COUNCIL OF THE CITY OF PASCO WASHINGTON DO ORDAIN as thllows $ection 1 Tile City shall renc,rate the Pasco Library including but not limited to reconstructing the roof eperradrng the electrical lighting and research facili ties expanding the reading room and upgrading other teeth' les including meeting the requirements of the Americans with Disabilities Act (the Library Project) The estimated cost of the Library Project including the costs of issuing and selling the bonds authorized by this ordinance is declared to be as nearly as may be 000. The .nenomic life of the improvements com- prising the Library Project is expected to be at least twenty years Section 2 The City shall relocate Pasco City Fire Station No 1 by acquinng ' rpristructing and equipping 1 (to the extent permitted by ' law) a new expanded fire Station to maintain emer- gency response services to thecitizens of Pasco (the I Fire Station Project) The , estimated cost of the Fire ' Station Project including the qosts of issuing and selling the bonds authorized by this ordinance is declared to be as nearly as may be $950 000 The economic life of the improvements com expected to be at least twenty years pnsing the Library Project is Section The City shall borrow not to exceed $750 000 on the credit of the City and issue and sell its general obligation bonds in that principal amount for stnctly mi.tnicipal capital pur- poses other than the replacement of equipment to provide the funds for the Library Project and not to j exceed $950 000 on the credit of the City and issue + and sell its general obliga-, ton bonds in that pnncipali amount for strictly capitall purposes other than the) replacement of equipment to provide funds for the Fire Station Project Costs of engineering panning finan- cial legal and other services lawfully incurred incident to each Project shall be appro pnate capital costs to be paid from the proceeds of the respective bond issues authorized by this ordi nance The City Council declares that to the extent if any the City pnor to the date bonds or other short-term obltga bons are issued to finance the Library Project and Fire Station Project shall make capital expenditures for those Projects from funds that are not (and are not reasonably expected to be) reserved allocated on a long-term basis or otherwise set aside by the City under its existing and reasonably foreseeable budgetary and financial circumstances to finance the Projects those capital expenditures are intended to be reimbursed out of proceeds of the bonds or other short-term obligations issued in an amount not to" exceed the principal amount of each of such Projects provided by this ordinance Section 4 The bonds shall be issued as a single issue for each Project as a part of a combined issue with other authorized bonds or in more than one series The bonds shall be fully regis tered shall bear interest payable as permitted by law shall mature within twenty years from their date or within any shorter period fixed by the City Council shall be paid by annual property tax levies sufficient in amount to pay both pnrxii pal and interest when due which annual property tax levies shall be made in excess of regular property tax levies without limitatien as to rate or amount but only in amounts sufficient to pay both principal and inter- est when due and shall be issued and sold in the rrthn ner at the times and in the amounts as shall be required for each applicable Project The exact date form terms option of prior redemption if any price interest rate or rates and maturities of the bonds shall be fixed hereafter by ordi- nance of the City Council Pending the issuance of the bonds and receipt of their proceeds the City Council may authorize the issuance of short term obligations pursuant to chapter 39 50 RCW and the costs of those short-term obligations 1 shall be included in the cost/ of the Project for which the bonds a'Ie issued Section 5 The City Council finds that an emergency exists which requires mak- ing constructing and acquir- ing the improvements com- prising the Library Project and Fire Station Project and the Auditor of Franklin County Washington as ex 1 officio Superytsor of Elections is requested to' concur in that finding and to call and conduct a special election to be held in the City on Mar0 10 1998 for the purpose of submitting to the qualified electors of the City for their aprf oval the questions of whether or not the City shall borrow not to exceed $750000 for the Library Project and $950 000 for the Fire Station Project issue its general obligation bonds in that pnn- cipal amount for capital pur- poses only other than replacement of equipment and levy excess taxes nec- essary to redeem the bonds as herein set forth Section 6 The City Clerk is directed to certify to the Auditor of Franklin County Washington as ex officio Supervisor of Elections at least 45 days pnor to the March 10 1998 special election date a copy of this ordinance and the propos' Wan to be submitted at that special election in the form of a ballot title as follows PROPOSITION NO 1 LIBRARY BONDS - $750 000 Shall the City of Pasco Washington borrow $750 000 to renovate the Pasco Library including reconstructing the roof upgrading the electrical lighting and research facili ties expanding the reading room and carrying out other capital purposes and by sell- ing general obligation bonds therefor maturing within 20 years and levy annual excess property taxes nec essary to pay and ,retire the bonds as provided in Ordinance No BONDS YES/BONDS NO PROPOSITION NO 2 FIRE STATION BONDS - $950 000 Shall the City of Pasco Washington borrow $950000 to relocate its Fire Station No 1 by acquinng constructing and equipping (to the extent permitted by law) a new expanded fire station to maintain emer- gency response services by selling general obligation bonds therefor maturing within 20 years and levy annual excess property taxes necessary to pay and retire the bonds as provided in Ordinance No BONDS YES/BONDS NO PASSED by the City Council of the City of Pasco Washington at a regular open public meeting thereof and signed in authentication of its passage this 20th day of January 1998 -s Charles D Kilbury Mayor -s Cathenne D Seaman City Clerk Approved as to Form s- Leland B Kerr City Attorney #0108 1/25/98