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HomeMy WebLinkAbout2329Ordinance No. 2329 ["Beginning July 1, 1998"] (Amending or Repealing Ordinances) CFN=104-Finance; 620 -Seattle Water Intertie; 703 -Garrison Creek Well Drilling; 704 -Seven Oaks Plat Well (Soos Creek Well); 705 -Armstrong Springs Well Drilling; 787-1984 Water System Plan Passed - 12/21/1981 Specifying and adopting a system or pian of additions to and betterments and extensions of that water system Amended by Ord. 3746 f% 11 CITY OF KENT, WASHINGTON ORDINANCE NO. , 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 estimated cost thereof as near as may be; autho- rizing the issuance and sale of approximately $950,000 of water revenue bonds to provide part of the funds necessary to carry out that system or plan; creating a construction fund; and authorizing the issuance of interest-bearing warrants drawn upon such construction fund pending the sale of such revenue bonds. 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 installation of the water facilities described in the Water Systems Plan for the ater Department of the City prepared by URS Company, consulting engineers, under date of October 10, 1979, and adopted by Resolution No. 857 of the City Council, and the Garrison Creek Well and Soos Creek Well described in Exhibit A, attached hereto 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, values, connections and appurtenances to such facilities. The City may modify the details of the foregoing system or plan where such modifications do not substantially alter the pur- poses 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- e- struction, installation and financing of the above-described improvements is declared to be approximately $10,000,000. Section 4. The City Council orders the carrying out of that portion of such system or plan described in Exhibit A, the estimated cost of which is $1,400,000. 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 $950,000, which are hereby authorized to be issued and from other money of the City made available therefor. The bonds shall be named; 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, 1981," which shall be obligated to pay all of the costs incurred respecting the acquisition, construction, installation and financing of the improvements specified in Section 4 of this ordinance. All of the principal proceeds of the water 2 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, 1981. Pending the receipt of such bond proceeds or other money, the City Council authorizes the issuance of interest-bearing warrants drawn on the Water Construction Fund, 1981, to bear interest at such rate or rates, not exceeding 15% per annum, as may hereafter be negotiated by the City Finance Director and to be redeemed from the proceeds received from the sale of such revenue bonds and receipt of such other money. Section 8. This Ordinance shall be in effect from and after five (5) days after passage, approval and publication as provided by law. rsa e Tfogan, ay or' ATTEST: M RIE �SEN7�CITY+MLE�KK OVED AS TO FORM: r Passed the �' / _day of December, 19 81 Approved the day of December, 1981 Published the day of December, 1981 I certify that this is a true copy of Ordinance No. passed by the City Council of the City of Kent, Washington, and ap- proved by the Mayor of the City of Kent as hereon indicated. (SEAL) M E EN C CLE K 3 PROJECT 1. Garrison Creek Well (Presently not in Mater Comprehensive Plan) LOCATION Immediately South of S. 218th St. and West of 98th Ave. at the site of the City's Garrison Reservoir -2. Soos Creek Well Immediately North of (Presently not in !Dater Kent Kangley Road Comprehensive Plan) (SR 516) in vicinity of the 11800 Block 3. 4. 5. Armstrong Spring Well (Presently in plater Comprehensive Plan) Kent Springs Trans- mission Main (presently in dater Comprehensive Plan) Seattle/Kent Intertie (Presently in Water Comprehensive Plan) East of Wax Road and South of S.E. 272nd Street (SR 516) From Guiberson Street Reservoir East to 132nd Avenue S.E. and Kent Kangley Road (SR 516) From 180th Street and Lind Avenue to East Valley Highway and the point thereon where Seattle's CRPL#4 crosses said road (approximately the 160th block) EXHIBIT A `. IMPROVEMENT Construct well facility including pump and motor control system, piping, structure(s) and related appurtenances capable of delivering 500 GPM Construct well facility including pump and motor, control system, piping, structure(s) and related appurtenances capable of delivering 900 GPM Construct well facility including pump(s) and motor(s), control system, piping, structure(s) and related appurtenances capable of delivering 700-1,400 GPM Design (prepare contract plans and specs) approx- imately 20,000 linear feet of transmission main replacement, acquire the respective easements and design and construct 8960 linear feet of 8"-12" DIA distribution main associated with relocating existing transmission main water customers onto a respective distribution main Modify existing contract plans and specs per the approximately 8000 linear feet of intertie main and acquire the respective easements.