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Home My WebLink AboutILA - Convention Center Financing Interlocal Agreement 12022002I��NINVIITY �BV�IV�I�W,�II�II�VIhI.00 � �°r'°�,.P WHEN RECORDED RETURN TO: C JV C ler City of Pasco, Washington 525 North 3rd Pasco WA 99301 CONVENTION CENTER FINANCING INTERLOCAL AGREEMENT Between CITY OF PASCO, WASHINGTON and CITY OF KENNEWICK, WASHINGTON THIS INTERLOCAL AGREEMENT is dated this 2nd day of December, 2002, between the City of Pasco, Washington, a Municipal Corporation, hereinafter referred to as "Pasco "; and the City of Kennewick, Washington, a Municipal Corporation, hereinafter referred to as "Kennewick. " WHEREAS, Kennewick has created the Kennewick Public Facilities District for the purpose of acquiring, constructing and operating a convention center as a Regional Center as defined by RCW 35.57.020; and WHEREAS, Kennewick has made significant commitments for the funding of Kennewick Public Facilities District's construction and operation of the Regional Center; and WHEREAS, Pasco has likewise created a public facilities district which, may in part, join in the construction and operation of the Regional Center with the Kennewick Public Facilities District; and WHEREAS, State Law (RCW 82.14.390) authorizes a public facilities district to obtain sales and use tax dollars that would otherwise be paid to the State Department of Revenue for use by a public facilities district in creating a Regional Center within the local community; and WHEREAS, Pasco has the final determination for authorization of the Pasco Public Facilities District's participation in the application of such sales and use tax; and WHEREAS, it is determined to be in the best interest of the citizens of both Kennewick and Pasco, that through their cooperative efforts, a Regional Center be developed benefiting both cities. Convention Center Financing Interlocal Agreement City of Pasco/City of Kennewick - 1 NY Iltl u� Iliilull All VIII aVIII � A�m�%i4'm34n°.e. PASCO CITY OF AGREE 22.00 Franklin Co, WA NOW, THEREFORE, in consideration of the mutual covenants contained herein, it is agreed as follows: SECTION I PURPOSE The purpose of this Interlocal Agreement is to create a cooperative basis upon which financial assistance may be provided for the development of a Regional Center within the Tri City area for the benefit of the citizens of both Kennewick and Pasco. SECTION II RESPONSIBILITIES OF PASCO In furtherance of this Agreement, Pasco shall: (1) Approve when presented, the Pasco Public Facilities District's implementation of the State sales and use tax allocations available pursuant to RCW 82.14.390 for application for the Regional Center; and (2) Approve an appropriate agreement between the Pasco Public Facilities District and the Kennewick Public Facilities District which will allocate to the Kennewick Public Facilities District, 100% of the State sales and use tax allocations actually received by the Pasco Public Facilities District pursuant to RCW 82.14.390 for its joint participation in the construction and operation of the Regional Center. SECTION III RESPONSIBILITIES OF KENNEWICK (1) In furtherance of this agreement, Kennewick will pay to Pasco an amount equal to the annual amount received by the Kennewick Public Facilities District from the Pasco Public Facilities District from state sales and use tax proceeds, less $150,000 but such payment shall not exceed $600,000 annually. Such payment shall be made to Pasco quarterly by the 20th day of the first month of each calendar quarter, each such payment representing the difference between the amount actually received by the Kennewick Public Facilities District from the Pasco Public Facilities District during the preceding calendar quarter, less $37,500; provided, however, the first calendar quarter payment shall be adjusted to the extent necessary to assure retention by Kennewick of the full $150,000 annual deduction. (2) Provide the matching funds required pursuant to RCW 82.14.390(4) in an amount equal to 33% of the sales and use tax revenue collected by the Pasco Public Facilities District and the Kennewick Public Facilities District for purposes of a Regional Center. Convention Center Financing Interlocal Agreement City of Pasco/City of Kennewick - 2 1642347 Page: 3 of 4 03/31/2004 02:10P PASCO CITY OF AGREE 22.00 Franklin Co, WA SECTION IV TERM This Agreement shall commence December 30, 2002, and shall continue so long as the State's sales and use tax is allocated to and received by the Pasco Public Facilities District; provided, however, this agreement shall expire and be of no further force or effect on December 31, 2027, unless provided otherwise by mutual written agreement of the parties. SECTION V INTERLOCAL COOPERATIVE ACT PROVISION All funding incident to the fulfillment of this Interlocal Agreement, shall be borne by the party necessary for the fulfillment of their responsibilities under the terms of this Agreement. No special budgets or funds are anticipated, nor shall be created incident to this Interlocal Agreement. It is not the intention that a separate legal entity be established to conduct the cooperative undertakings, nor is the acquisition, holding, or disposition of any real or personal property anticipated under the specific terms of this Agreement. The City Manager of the City of Pasco, Washington, shall be designated as the Administrator of this Interlocal Cooperative Agreement. SECTION VI ENTIRE AGREEMENT This Agreement contains all the terms and conditions agreed upon by the parties. All items incorporated by reference are attached. No other understandings, verbal or otherwise, in regards to the subject matter of this Agreement, shall be deemed to exist. Any modifications to this Agreement shall be in writing and signed by both parties to be effective. SECTION VII APPLICABLE LAW This Agreement is governed, construed and enforced in accordance with the substantive laws of the State of Washington. Should any dispute arise concerning the enforcement, breach, or interpretation of this Agreement, venue shall be placed in Franklin County, Washington, and the prevailing party shall be entitled to its reasonable attorney fees and costs as additional judgment. SECTION VIII AUTHORITY FOR EXECUTION Each of the parties warrants and represents that its representatives, whose signatures are below, possess all required authority to sign this Agreement and such powers have not, as of the date of this Agreement, been revoked or revised. Convention Center Financing Interlocal Agreement City of Pasco/City of Kennewick - 3 1642347 Page: 4 of 4 03/31/2004 02:10P pA5C0 CITY OF AGREE 22.00 Franklin Co: WA IN WITNESS WHEREOF, the parties have executed this Agreement by the duly authorized officers on the day and year first written above. STATE OF WASHINGTON) ss. County of Franklin ) CITY OF KENNEWICK, WASHINGTON On this day personally appeared before me l aAaa�I L r cjat��d for the City of Pasco, Washington, to be known to be the individual described in and who executed the within and foregoing instrument, and acknowledged that he signed the same as his free and voluntary act and deed for the uses and purposes therein mentioned. GIVEN under my hand and official seal this ,4 day off 1 �&,r 2002. U. qC` �`�O NOTARY PUBLIC in d for the State of Washington N°TA4, Z Residing at: S ,d My Commission Expires: 7'- 2 ��►� � �, 2e 'food tiG °F wASN�`�a STATE OF WASHINGTON ) ss. County of Benton ) On this day personally appeared before me axv►es M for the City of Kennewick, to be known to be the individual described in and who executed the within and foregoing instrument, and ackno l dged that he signed the same as his free and voluntary act and deed for the uses and purposes GIVEN under my hand and official seal this 611_ day of T)e r-W6ee2 , 2002• ............C. SA�F��'►� AY�JB IC in and for the State of Washington •��`5 NcA9 •,�� Residing at:— ' NST ARY m'sMy Commission Expires: - r v col — %; cn;A PUBIUC F• WASVk\ Convention Center Financing Interlocal Agreement City of Pasco/City of Kennewick - 4