HomeMy WebLinkAbout3626ORDINANCE NO. —16 Z6
AN ORDINANCE of the city council of the city of
Kent, Washington, authorizing the execution of a revised
Second Supply Project Partnership Agreement and
Repayment Agreement, both of which address reallocation
of a portion of the Tacoma Second Supply Project water
capacity previously allocated to the City of Seattle
WHEREAS, the city of Kent along with the cities of Tacoma and
Seattle, the Covington Water District, and the Lakehaven Utility District !
("participants"), have previously entered into an agreement for allocation and use of the
water to be delivered from the Tacoma Second Supply Project, and
WHEREAS, the city has previously approved the execution of the
for the Second Supply Project, and
WHEREAS, the city of Seattle has elected to withdraw its participation
from the Tacoma Second Supply Project arrangement, and
WHEREAS, the remaining participants have negotiated the terms of a
Second Supply Project Agreement and have negotiated a Repayment
in relating to Tacoma's issuance of project bonds, both of which address
on of the city of Seattle's original share among the remaining four
its, and
1 Tacoma Second Supply Project
Authorization to Execute Agreements
WHEREAS, the city wishes to formally approve and authorize the
execution of both agreements, NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON,
I DOES HEREBY ORDAIN AS FOLLOWS
SECTION 1. - Authorization - AQreement for Second Supply Protect
The city council hereby approves the city's participation in the Second Supply
Project and authorizes the mayor to execute the Agreement for the Second Supply
Project, subject to approval of final terms and conditions by the public works director
and the city attorney
SECTION 2. - Authorization - Repayment Agreement The city
council also approves the Repayment Agreement among the participants in the Second
Supply Project and authorizes the mayor to execute and deliver the Repayment
Agreement on behalf of the city, subject to approval of final terms and conditions by
the public works director and the city attorney The mayor is further authorized to
execute additional certificates and agreements to facilitate marketing the bonds,
including certifying the information on the city in the official statement for the bonds,
making necessary tax certificates, entering into agreements in connection with bond
insurance, and executing closing certifications
SECTION 3. - Severability If any one or more section, subsections, or
races of this Ordinance are held to be unconstitutional or invalid, such decision
not affect the validity of the remaining portion of this ordinance and the same
remain in full force and effect
2 Tacoma Second Supply Project
Authorization to Execute Agreements
SECTION 4. — E((ective Date This ordinance shall take effect and be
in force thirty (30) days from and after its passage as provided by law
WHITE, MAYOR
ATTEST
BRENDA JACOBER, OtY CLERK _
I APPROVED AS TO FORM
Uy l�
TO BRUBAKER, CITY ATTORNEY
PASSED
�[_ day of
i lie 'L ir/
'2002
APPROVED
day of
2002
PUBLISHED
day of
2002
I hereby certify that this is a true copy of Ordinance No 36Z6 passed by
the city council of the city of Kent, Waslungton, and approved by the mayor of the city
as hereon indicated
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BRENDA JACO ER, CITY CLERK
3 Tacoma Second Supply Project
Authorization to Execute Agreements