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HomeMy WebLinkAbout3657ORDINANCE NO. 365% AN ORDINANCE of the City Council of the City of Kent, Washington, ordering the construction of an 8" sanitary sewer system with 6" side sewer stubs to the right-of-way line, all in accordance with Resolution No. 1649 of the City Council; establishing Local Improvement District No. 356 and ordering the carrying out of the proposed improvement; providing that payment for the improvement be made in part by special assessments upon the property in the District, payable by the mode of "payment by bonds"; and providing for the issuance and sale of local improvement district warrants redeemable in cash or other short-term financing and local improvement district bonds. WHEREAS, by Resolution No. 1649 adopted July 15, 2003, the City Council declared its intention to order the construction of an 8" sanitary sewer system with 6" side sewer stubs to the right-of-way line, and fixed August 19, 2003, at 7:00 p.m., local time, in the council chambers of City Hall as the time and place for hearing all matters relating to the proposed improvement and all comments thereon and objections thereto and for determining the method of payment for the improvement; and WHEREAS, the City's Public Works Director caused an estimate to be made of the cost and expense of the proposed improvement and certified that estimate to the City Council, together with all papers and information in his possession touching the proposed improvement, a description of the boundaries of the proposed local improvement district and a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed district; and LID 356 Formation Ordinance 50396206 01 WHEREAS, that estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land, and other property which will be specially benefited by the proposed improvement and the estimated cost and expense thereof to be bome by each lot, tract and parcel of land or other property; and WHEREAS, due notice of the above hearing was given in the manner provided by law, the hearing was held by the City Council on the date and at the time above mentioned, all objections to the proposed improvement were duly considered and overruled, and all persons appearing at such hearing and wishing to be heard were heard; and WHEREAS, the City Council has determined it to be in the best interests of the City that the improvement as hereinafter described be carred out and that a local improvement district be created in connection therewith; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The City Council of the City of Kent, Washington, orders the improvement of the properties within the area described in Exhibit "A," attached hereto and by this reference made a part hereof, by the construction of an 8" sanitary sewer system with 6" side sewer stubs to the right-of-way line. All of the foregoing shall be in accordance with the plans and specifications therefor prepared by the City's Public Works Director, and may be modified by the City Council as long as such modification does not affect the purpose of the improvement. SECTION2. There is created and established a local improvement district to be called Local Improvement District No. 356 of the City of Kent, Washington (the "District"), the boundaries or territorial extent of the District being more particularly described in Exhibit `B," attached hereto and by this reference incorporated herein. -2- LID 356 Formation Ordinance 5039620601 SECTION 3. The total estimated cost and expense of the improvement is declared to be $256,500. Approximately $165,000 of the cost and expense shall be borne by and assessed against the property specially benefited by such improvement included in the District, which embraces as nearly as practicable all property specially benefited by such improvement and the balance of such cost and expense shall be paid by the City. SECTION 4. In accordance with the provisions of RCW 35.44.047, the City may use any method or combination of methods to compute assessments that may be deemed to more fairly reflect the special benefits to the properties being assessed than the statutory method of assessing the properties. SECTION 5. No property, any portion of which is outside the District, may connect to those improvements constructed or made a part of such District unless either that property shall have been subject to the special assessments on the assessment roll for that District or the owners of that property shall have paid prior to such connection a charge in lieu of assessment, which shall be at least the equivalent of those assessments that would have been applied to that property had it been included within that District. SECTION 6. Local improvement district warrants may be issued in payment of the cost and expense of the improvement herein ordered to be assessed, such warrants to be paid out of the Local Improvement Fund, District No. 356, hereinafter created and referred to as the Local Improvement Fund, and, until the bonds referred to in this section are issued and delivered to the purchaser thereof, to bear interest from the date thereof at a rate to be established hereafter by the City's Finance Department Director, as issuing officer, and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued, such interest-bearing warrants to be hereafter referred to as "revenue warrants." In the alternative, the City hereafter may provide by ordinance for the issuance of other short-term obligations pursuant to chapter 39.50 RCW. If the City shall authorize expenditures to be made for such improvement (other than for any cost or expense expected to be borne by the City) 5039620601 -3- LID 356 Formation Ordinance prior to the date that any short-term obligations or local improvement district bonds are issued to finance the improvement, from proceeds of interfund loans or other funds that are not, and are not reasonably expected to be, reserved, allocated on a long-term basis or otherwise set aside to pay the cost of the improvement herein ordered to be assessed against the property specially benefited thereby, the City declares its official intent that those expenditures, to the extent not reimbursed with prepaid special benefit assessments, are to be reimbursed from proceeds of short-term obligations or local improvement district bonds that are expected to be issued for the improvement in a principal amount not exceeding $165,000. The City is authorized to issue local improvement district bonds for the District that shall bear interest at a rate and be payable on or before a date to be hereafter fixed by ordinance. The bonds shall be issued in exchange for and/or in redemption of any and all revenue warrants issued hereunder or other short-term obligations hereafter authorized and not redeemed in cash within twenty (20) days after the expiration of the thirty -day period for the cash payment without interest of assessments on the assessment roll for the District. The bonds shall be paid and redeemed by the collection of special assessments to be levied and assessed against the property within the District, payable in annual installments, with interest at a rate to be hereafter fixed by ordinance under the mode of "payment by bonds," as defined by law and the ordinances of the City. The exact form, amount, date, interest rate, and denominations of such bonds hereafter shall be fixed by ordinance of the City Council. Such bonds shall be sold in such manner as the City Council hereafter shall determine. SECTION 7. For the purpose of paying all or a part of the costs of carrying out the improvements within the District pending the receipt of the proceeds of the issuance and sale of the bonds or short-term obligations referred to in Section 5, interfund loans from the General Fund and/or Street Fund to the Local Improvement Fund in the maximum aggregate amount of $165,000 are authorized and approved, those loans to be repaid on or before the issuance of such bonds or obligations from the proceeds thereof. Each of the mterfund loans shall bear interest at a variable rate, adjusted the 15`h and last day of each month, equal to the interest rate of the State of Washington Local Government Investment Pool on the 15`h and last day of each -4- LID 356 Formation Ordinance 50396206 01 month. The initial interest rate on the date of each interf ind loan shall be determined as of the last preceding interest payment adjustment date. SECTION 8. In all cases where the work necessary to be done in connection with the making of such improvement is carried out pursuant to contract upon competitive bids (and the City shall have and reserves the right to reject any and all bids), the call for bids shall include a statement that payment for such work will be made in cash warrants drawn upon the Local Improvement Fund. SECTION 9. The Local Improvement Fund for the District is created and established in the office of the Finance Department Director of the City. The proceeds from the sale of revenue warrants or other short-term obligations drawn against the fund which may be issued and sold by the City and the collections of special assessments, interest and penalties thereon shall be deposited in the Local Improvement Fund. Cash warrants to the contractor or contractors in payment for the work to be done by them in connection with the improvement and cash warrants in payment for all other items of expense in connection with the improvement shall be issued against the Local Improvement Fund. SECTION 10. Within fifteen (15) days of the passage of this ordinance there shall be filed with the Finance Department Director of the City the title of the improvement and District number, a copy of the diagram or print showing the boundaries of the District and the preliminary assessment roll or abstract of such roll showing thereon the lots, tracts and parcels of land that will be specially benefited thereby and the estimated cost and expense of such improvement to be borne by each lot, tract or parcel of land. The Finance Department Director of the City immediately shall post the proposed assessment roll upon her index of local improvement assessments against the properties affected by the local improvement. -5- LID 356 Formation Ordinance 50396206 01 SECTION H. This ordinance shall take effect and be in force five (5) days from and after its passage, approval, and publication as required by law. ATTEST: 07,19MOM: m IMMU• m • APPROVED AS TO FORM: FOSTEWPEPPER & SIHEFELMAN PLLC Special Counsel and Bond Counsel Passed the a2- day of September, 2003. Approved the oZ day of September, 2003. Published the 6 day of September, 2003. 5039620601 -6- LID 356 Formation Ordinance 503%20601 CERTIFICATION I, the undersigned, City Clerk of the City of Kent, Washington, hereby certify as follows: 1. The attached copy of Ordinance No.3697 is a full, true and correct copy of an ordinance duly passed at a regular meeting of the City Council of the City held at the regular meeting place thereof on September 2, 2003, as that ordinance appears on the minute book of the City; and the ordinance will be in full force and effect five (5) days after the publication of its summary in the City's official newspaper; and 2. A quorum of the members of the City Council was present throughout the meeting and a majority of those members present voted in the proper manner for the passage of the ordinance. IN WITNESS WHEREOF, I have hereunto set my hand this a, day of September, 2003. CITY OF KENT, WASHINGTON BRENDA JACOBEIV, City Clerk 50396206 01 EXHIBIT «A„ LID 356 1 l I" AVENUE S E. SAN ITARTY SEWERS (S.E. 256TH STREET TO 850 FEET NORTH) BOUNDARY LEGAL DESCRIPTION LOTS 8, 9, 10, 11, 12, 13, 14, 15, 16,17 AND 20, COATES ADDITION, ACCORDING TO THE PLAT RECORDED IN VOLUME 78 OF PLATS, PAGE 76, RECORDS OF KING COUNTY, WASHINGTON; EXCEPT ANY PORTIONS OF THE PROPERTY DESCRIBED HEREIN LYING WITHIN PUBLIC RIGHT OF WAY. S PODS Carol LID 356 Bawelary Lcgnl Ealnbu A auJ B du EXHIBIT "B" LID 356 SANITARY SEINER IMPROVEMENTS The proposed project is the construction of an 8" sanitary sewer system with 6" side seuver stubs to the right of way line for each of the 1 I properties included in the L.I.D. boundary. The construction %%-ill include 8" sever at the follov.ing locations: ON FROM TO I I Vh Avenue S E. S.E. 256`h Street Approximately 850 Feet North S PEDS Carol LID 356 Domidap Legal E%Wbit A 211d D doc