Loading...
HomeMy WebLinkAbout1478CITY OF KENT, WASHINGTON ORDINANCE NO. LCL7? AN ORDINANCE of the City of Kent, Washington, specifying and adopting a system or plan of additions to and betterments and extensions of the sewage collection and disposal system of the City with which has been combined the system and plant for garbage and refuse collection and dis- posal of the City; declaring the estimated cost thereof as nearly as may be; authorizing the issuance and sale of sewer revenue bonds in the principal sum of not to exceed $30,000.00 to provide the funds necessary to carry out that system or plan; authorizing the issuance of interest bearing warrants drawn upon the "Yorkshire Sewer Construction Fund" pending the sale of such sewer revenue bonds; and declaring an emergency. THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO ORDAIN as follows: Section 1. It is hereby found and declared that the public health requires and it is ueexied necessary to provide an adequate sanitary sewage collection system in the Yorkshire area of the City. Section 2. The City of Kent, Washington, hereby specifies and adopts a system or plan for making additions to and betterments and extensions of the existing sewage collection and disposal system of the City with which has been cimbined, pursuant to Ordinance No. 1338 passed by the City Council and approved by the Mayor on April 18, 1966, the system and plant for garbage and refuse collection and disposal of the City ( which combined systems are hereinafter referred to as the "system of sewerage of the City" ) to consist of the following: Size On From 8" 42nd Ave. S. 165 ft. S. of S. 260th St. 8" Reith Road 42nd Ave. S. 8" 38th Ave. S. Reith Road (Old Mil. Rd) 8" Easement 38th Ave. S. (Old Mil. Rd) To Reith Road 38th Ave. S. (Old Mil. Rd) S. In Sec. 22-22-4 36th Ave. S. (New Mil. Rd) The foregoing improvement shall be constructed in accordance with the plans and specifications of the City Engineer. Section 3. The life of the foregoing additions, betterments and extensions is hereby declared to be at least thirty years. Section 4. The estimated cost of the acquisition, construction and installation of the above-described additions and betterments to the system of sewerage of the City is hereby fixed, as nearly as may be, at the sum of $30,000.00. Section 5. The cost of acquiring, constructing and making the foregoing additions to and betterments and extensions of the system of sewerage shall be paid from the proceeds received from the issuance and sale of sewer revenue bonds of the City in an amount of not to exceed $30,000.00. Section 6. The sewer revenue bonds shall be issued in one or more series, or may be combined with another authorized issue of bonds, and shall be issued at such times, in such manner, and payable from such fund as the City Council shall deem advisable. The bonds shall be sold in such manner as the City Council of the City of Kent shall deem to be in the best interest of the City. Section 7. The gross revenues and benefits to be derived from the operation and maintenance of the system of sewerage and the additions, - 2 - extensions and betterments thereto herein provided for, at the rates to be charged for sanitary sewage disposal service on the entire system and garbage and refuse collection and disposal service, will in the judgment of the City Council be more than sufficient to meet all expenses of opera- tion and maintenance thereof and to permit the setting aside into a special fund out of the gross revenues of the system of sewerage of sufficient amounts to pay the interest on the sewer revenue bonds herein authorized to be issued and on the presently outstanding "Sewer Revenue Bonds, 195 4, " dated April 1, 1954 , and the "Sewer Revenue Bonds, 195 6, " dated October 1, 195 6, and the "Sewer Revenue Bonds, 195 9, " dated June 1, 1959, and "Sewer Revenue Bonds, 1966, " dated May 1, 1966, as such interest becomes due and payable and to pay and redeem all of those bonds at maturity. Section 8. The sewer revenue bonds herein authorized to be issued and sold shall be payable solely out of the special fund to be here- after designated and shall be a valid claim of the holder thereof only as against such special fund, and the amount of the revenues of the system of sewerage pledged to such special fund, and shall not be a general obligation of the City of Kent, Washington. Section 9. There is hereby created in the office of the City Treasurer a special fund to be called the "Yorkshire Sewer Construction Fund." The proceeds received from the sale of the foregoing revenue bonds attributable to the foregoing improvement shall be deposited in the "York- shire Sewer Construction Fund " of the City and shall be used for the sole purpose of paying the cost of carrying out the additions to and betterments and extensions of the system of sewerage as herein authorized and of paying the cost and expenses connected therewith, and the City of Kent, through its proper officers and agents, shall proceed with the making of said improve- ments and the calling of bids therefor in the manner provided by law. Pending the sale of those revenue bonds, the City may issue interest-bearing - 3 - warrants drawn upon the "Yorkshire Sewer Construction Fund," to be paid out of the proceeds of the sale of the bonds . PASSED by the City Council of the City of Kent, Washington, and approved by its Mayor at a regular meeting held on the 5th day of September, 1967. Mayor ATTEST: -72�n City erk FORM APPROVED: City Attorney ar" - 4 - I, MARIE JENSEN, Clerk of the City of Kent, Washington, do hereby certify that the attached ordinance is a true and correct copy of the original Ordinance No. , passed on the 5th day of September, 1967, as that Ordinance appears on the Minute Book of the City. DATED this day of September, 1967. MARIE JENSEN, Clerk