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HomeMy WebLinkAbout2496: CITY OF KENT. WASHINGTON ORDINANCE NO. V 16 / AN ORDINANCE relating to the water system of the City of Kent, Washington; specifying and adopting a system or plan of additions to and betterments and extensions of that water system; declaring the esti- mated cost thereof as near as may be; authorizing the issuance and sale of approximately $2,405,000 of water revenue bonds to provide part of the funds necessary to carry out that system or plan; creating a construction fund; authorizing the issuance of interest-bearing warrants drawn upon such construc- tion fund and/or other interim financing pending the sale of such revenue bonds; and repealing Sections 1 of Ordinances Nos. 2329 and 2369. WHEREAS, the City of Kent, Washington (the "City"), oper- ates and maintains a water system pursuant to the provisions of RCW 35.21.210 and 35.92.010; and WHEREAS, the City adopted a plan of water system improve- ments by Ordinance No. 2329, adopted on December 21, 1981, and amended that plan by Ordinance No. 2369, adopted on November 1, 1982; and WHEREAS, the City Council deems it in the best interest of the City and its residents to modernize that plan to reflect changed conditions in the water system and its operation and to accommodate the future needs of the water system and its customers; and WHEREAS, the Department of Public Works of the City has prepared a "Water System Plan 1984" which reflects the current and prospective needs of the water system and its customers; and WHEREAS, the City Council deems it in the best interest of the City and its residents to adopt the "Water System Plan 1984" and to provide for the issuance of revenue bonds to pay a part of the cost of commencing a portion of the capital improvements proposed by that plan; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO ORDAIN as follows: Section 1. The City specifies and adopts a system or plan for making additions to and betterments and extensions of the existing water system of the City, which system or plan shall consist of the design, acquisition, construction and installa- tion of the water facilities described in the "Water System Plan 1984" prepared by the Department of Public Works of the City, attached hereto as Exhibit A and by this reference made a part hereof. Included in such system or plan is the compliance with all applicable legal requirements, and the acquisition of all necessary property interests, valves, connections and appurte- nances to such facilities. The City may modify the details of the foregoing system or plan where such modifications do not substantially alter the purposes of that system or plan. Section 2. The life of the foregoing additions to and betterments and extensions of the water system is declared to be at least thirty years. Section 3. The estimated cost of the acquisition, con- struction, installation and financing of the improvements described in Exhibit A is declared to be approximately $21,290,000 to $22,165,000. Section 4. The City Council orders the carrying out of that portion of such system or plan described in Exhibit B, attached hereto and incorporated herein by reference, the estimated cost of which is $3,459,000. Section 5. The cost of acquiring, constructing and making the foregoing additions to and betterments and extensions of the water system ordered to be carried out by Section 4 shall be paid from the proceeds received from the issuance and sale of water revenue bonds in the amount of approximately $2,405,000, which are hereby authorized to be issued, and from other money of the City made available therefor. The bonds shall be named - 2 - the "Water Revenue Bonds, 1984"; and shall bear interest at such rate or rates not to exceed the maximum rate permitted by law; shall be issued in such series; shall be in such denominations and form; shall bear such date or dates; shall be payable at such place or places; shall mature serially in accordance with such schedule ending not later than thirty years after the date of issuance or shall be term bonds; shall have such option of payment prior to maturity; shall guarantee such coverage and collection of rates; shall provide for such additional funds and accounts; shall be payable out of such special water revenue bond fund; and shall contain and be subject to such provisions or covenants as shall be hereafter provided by ordinance. Section 6. The water revenue bonds herein authorized to be issued shall be payable from the gross revenue received from charges for water furnished and other revenue of the water system. Section 7. There is created in the office of the City Treasurer a special construction fund of the City to be known as the "Water Construction Fund, 1984," which shall be obligated to pay all of the costs incurred respecting the acquisition, con- struction, installation and financing of the improvements speci- fied in Section 4 of this ordinance. A11 of the principal proceeds of the water revenue bonds authorized by Section 5 of this ordinance, when issued, and any other money which the City determines to use for such purpose shall be deposited into the Water Construction Fund, 1984. Pending the receipt of such bond proceeds or other money, the City Council authorizes the issu- ance of interest-bearing warrants drawn on the Water Construc- tion Fund, 1984, to pay duly approved costs incurred in carrying out such system or plans of improvements, such warrants to bear interest at such rate or rates, not exceeding 12% per annum, as may hereafter be negotiated by the City Finance Director and to - 3 - PROJECT 1. Impoundment Storage EXHIBIT B LOCATION West 124th Avenue and North 304th St. IMPROVEMENT Investigate, evaluate and design a storage facility and related appurtenances including treatment works, inlet/out mains, etc. capable of providing 600-3200 AC feet of potable water storage, acquire the respective property and/or easements. 2. West Hill 2 areas within the Install booster pump Pumping 529 System stations and related Facilities appurtenances to boost the available service pressure with the system by 30 psi. 3. Telemetering Various sites & Upgrade telemetering system facilities throughout to monitor, control and the Utility System collect data per operating the Utility. 4. Soos Creek Immediately north of Well Kent Kangley Road (SR 516) in vicinity of the 11800 block Construct well facility including pump and motor, control system, piping, structure(s) and related appurtenances capable of delivering 900 GPM 5. Ranney Well 102nd Avenue and Evaluate site including 316th Block drilling, testing, engi- neering, etc. necessary for obtaining water rights to approximately 7000 GPM 6. 212th St. 212th Street and Investigate the con - and SR 167 SR 167 struction of a well Well facility including pump(s) and motor(s), control system, piping, structure(s), treatment facilities and related appurtenances capable of delivering 3,500-4,900 GPM 7. Kent Springs From 104th Ave. east Construct approximately Transmission to 124th Avenue 9,000-13,000 linear feet of Main transmission main, acquire the respective easements. 8. Miscellaneous Various locations Replace existing distribu- Main throughout the water tion mains which are either Replacement service area deteriorated or are provid- & Major ing inadequate domestic Reservoir and/or fire flow service Maintenance and repair steel reservoirs as needed. be redeemed from the proceeds received from the sale of such revenue bonds and receipt of such other money, or the City may issue short-term bond anticipation notes in lieu of such interest-bearing warrants. Section 8. Sections 1 of Ordinances Nos. 2329 and 2369, adopting and amending the water system plan, are hereby repealed. Section 9. This ordinance shall take effect and be in full force five (5) days from and after its passage, approval and publication as provided by law. PASSED by the City Council of the City of Kent, Washington, and APPROVED by its Mayor, at a regular open public meeting held on the A< day of 1984. Mayor ATTEST: �City�Cle�rk�� FORM APPROVED: 1240k - 4 -