HomeMy WebLinkAbout1313RESOLUTION NO. /3;3
A RESOLUTION of the City of Kent,
Washington, adopting a five year Capital
Improvement Plan for the drainage utility,
establishing budgets, authorizing sale of
storm drainage revenue bonds, and absorption
of the 1992 METRO sewer rate increase.
WHEREAS, the City desires to establish a new
comprehensive program for the City's drainage utility by
establishing rate modifications and a new Capital Improvement Plan;
and
WHEREAS, a budget for the Capital Improvement Plan must
be established to incorporate the drainage utility program; and
WHEREAS, incorporated into the drainage utility program
are rate modifications to the storm and surface water utility and
the City water utility, which rate modifications will be
established by separate ordinance; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON DOES
HEREBY RESOLVE AS FOLLOWS:
Section 1. In order to implement a new comprehensive
drainage utility and Capital Improvement Program for storm drain
improvements, the following actions are hereby approved and
adopted:
A. A five year Capital Improvement Plan for the
drainage utility set forth in Exhibit A attached hereto.
B. The first
budgets established
attached hereto.
for
year's capital improvements and the
the same, as set forth in Exhibit A
c. The financing proposal set forth in the January 3
memo from the Public Works Director set forth hereto as Exhibit B.
D. Adoption of an ordinance modifying drainage utility
rates and adjusting the budget to reflect the same.
E. Adoption of an ordinance modifying water utility
rates and incorporating therein a summer and winter water rate, and
adjusting the water fund budget to reflect the same.
F. Absorption of METRO's 1992 sewer rate increase by
the City of Kent.
G. Authorization for the Finance Director to establish
interim financing as needed for the first year's improvements.
H. Authorization for the Finance Director to proceed
with a program for sale of storm drainage revenue bonds.
day of
Passed at a regular me~ting of the City Council of the
City of Kent, Washington this 5 .... _~,___ day of yY\_c"7J< , 1992.
Concurred in by the Ma~ of the City of Kent, this GdG
____ In~~~~~-·---' 1992. ~
0~,.~
DAN~ELLEHER, MAYOR
ATTEST:
( CITY CLERK
I
I
2
APPROVED AS TO FORM:
I hereby certify that this is a true and correct copy of
Resolution No. /3/3 , passed by the City Council of the City of
Kent, Washington, the St-lu day of ~· , 1992.
4-u~A__JZ.J
BRENDA JACOB('
drainage. res
3
DESCRIPTION
Mill Creek (Auburn) &
Mullen Slough Flood
Control Improvement
Green River RT Bank Levee
Improvement
Valley DetentionM
Mill Creek Flood
Erosion Control (d)
&
Garrison Creek Flood &
Erosion FacilitiesM
Horseshoe Acre Storm Pump
Station
Mise Drainage Improvement
East Hill Shop
Shops Remodel
Water Quality Sampling
Stations
Stream Restoration &
Streamside Tree Planting
Lake Fenwick Restoration
Storm Drainage Outfall~>
Treatment Facilities
TOTAL
TABLE 1
1992 -1996 CAPITAL IMPROVEMENT PROGRAM
STORM CAPITAL PROJECTS
1992 1993 1994 1995 1996
o<•> 108 84 116 120
270 280 290
3400 2953 919
978 286 145
1626 853 958 1353
280
. 328 340 353 365 378
134
90
104
31 4 38 5
353 1782 3485
6536 4841 3600 3944 3988
Project Costs escalated for inflation at 4 percent per year.
TOTAL
428
840
7272
1409
4790
280
1764
134
90
104
78
100
5620
22909
(a) Presently budgeted funds adequate to do 92 program.
(b) Anticipate securing Army Corps of""Engineers grant for which the 1993-95 would constitute our local ·match.
(c) Update schedule
(d) Combined funding for 91-93 into 1992 and moved ahead, 94 & 95 program.
(e) Combined funding for 91 & 92 and adjusted balance of funding program so as not to affect rate increase forecast.
(f) Reduced scope of work.
(g) Deferred balance of project to 1997. EXHIBIT C\
(h) Project anticipated a grant which didn't materialize. ~
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TO:
FROH:
RE:
DEPARTMENT OF PUBLIC WORKS
January 3, 1992
PUBLIC WORKS Cm1NITTEE
DON lHCKSTR0!1 ow
FINANCIAL PLAN li.ND. REVENUE PROGRAM FOR STORH
DRAINAGE UTILITY
As .discussed at the December ~7th Public Harks Committ'ee meeting,
I have reviewed the original C.I.P. for the above referenced Plan
and Revenue Program and propose the amendments as noted on the
attached. said amendments reflect both ~) updating thereof (it was
originally prepared with the intent to implement in August or
September); and 2) focusing in on the immediate flooding problems.
By this updating and focusing, the proposed first year capital
improvement program increases by $~,651,000 to $6,536,000
(originally $4,885,00). While the proposed utility ratQ increase
was predicated on the $4,885,000 first year's program, no change in
the proposed rates is recommended. Instead, -it is proposed to
finance the difference via combination of unenc,.,umbered · seHerage
funds and project funding reallocation. The original first year's
C.I.P. was proposed to be financed as follows:
TOTAL
$3,800,000
1. 0851000
$4,885,000
Bond
Unenc'umber:ed Sewerage Funds
The amended first year's C.I.P. is proposed to be financed as
follows:
(I)
TOTAL
.,
$424,000
217,000
65,000
$706,000
$3,800,000
2,030,000
706.000
$6,536,000
Bonds
Unencumbered Sewerage Funds
Project Reallocation W
Lower Garrison Creek project (D37)
James Street Storm (D50)
Upper Mill Creek (D42)
Adequate funds exist within the unencumbered fund balance of the
sewerage utility fund to make this additional transfer. Neither
the sewer utility's operating budget or its capital improvement
program will be impacted. Also, said transfer would not affect the
proposed absorption of Metro's 92 rate increase.
As lvas also mentioned at the December 17th Public Works Committee,
attached is a table which hopefully clarifies the financial effect
on individual customers of this combination rate increase 1
decrease 1 absorption. ~' •'
EXHIBIT li.
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