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HomeMy WebLinkAbout1933RESOLUTION NO. _...:..1 ..... q--'.r)--')?:;;;..) __ A RESOLUTION of the City Council of the City of Kent, Washington, expressing support for the Kent School District's Capital Improvement and School Construction General Obligation Bond ballot proposition entitled, "Capital Improvement pnd School Construction General Obligation Bonds - $252,000,000." RECITALS A. The Board of Directors ("Board") of the Kent School District No. 415, King County, Washington, has adopted its Resolution No. 1490, calling for a special election on November 8, 2016, for the issuance, in one or more series, of unlimited tax general obligation bonds in the principal amount of $252,000,000, payable from ad volorem taxes levied against all of the taxable property within the district. B.The Ke11t School District's Board determined that various capital improvements to the facilities of the District, including construction of two new elementary schools and 20 new classrooms; renovations to multipurpose rooms, fields, tracks, and courts; and other improvements and refurbishments to school facilities. The school board has determined that these improvements are required to better serve the needs of the 1 Resolution Support -Kent School District Proposition 1 Endorsement Capital Improvement an<! School Construction General Ob/igption Bonds students in the District, and are in the best interest of the residents and studenrs of the District. C.If approved, and unless paid from other sources, the principal and interest necessary to repay the bonds shall be payable from annual property tax levies to be made on all taxable property within the Di?trict. D.Pursuant to RCW 42.17A.555, city councils are a�thorized t,o take collective action regarding ballot measures appearing before the voters so long as the action is taken at a public meeting, the notice of the meeting includes the title and number of the ballot proposition and members of the council or the public are afforded an approximately equ91 opportunity for the expression of an opposing view. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS: RESOLUTION SECTION 1. -The Kent City Council supports the Board of Directors of the Kent School District No. 415's Resolution No. 1490, attached as Exhibit A to this resolution, and the District's ballot Proposition 1 -"Capital Improvement and School Construction General Obligation Bonds - $252,000,000," which the Board of Directors of the Kent School District will submit to the voters at the November 8, 2016, special election. The Proposition 1 ballot title and ballot statement are as follows: 2 Resolution Support -Kent School District Proposition 1 Endorsement Capital Improvement and School Construction General Obligation Bonds PROPOSITION NO. 1 KENT SCHOOL DISTRICT NO. 415 CAPITAL IMPROVEMENT AND SCHOOL CONSTRUCTION GENERAL OBLIGATION BONDS - $252,000,000 The Board of Directors of Kent School District No. 415 adopted Resolution No. 1490 concerning a proposition to finance capital improvements to its facilities. This proposition would authorize the District to construct two new elementary schools and 20 new classrooms, make capital improvements to roofs at numerous schools, improve multipurpose rooms and fields, tracks and courts at numerous schools and; to issue $252,000,000 of general obligation bonds maturing with a maximum term of 20 years and to levy annual excess property tax levies to pay and retire such bonds, all as provided in Resolution No. 1490. Should this proposition be: o APPROVED:o REJECTED: SECTION 2. -The mayor is authorized to take action as necessary and appropriate to implement the directives of this resolution, including forwarding copies of this resolution to the Board of Directors of the Kent School District No. 415, and others as warranted. SECTION 3. -Severabilitv. If any one or more section, subsection, or sentence of this resolution is held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this resolution and the same shall remain in full force and effect. SECTION 4. -Corrections bv Citv Clerk. Upon approval of the city \3ttorney, the city clerk is authorized to make necessary corrections to this resolution, including the correction of clerical errors; resolution, section, or subsection numbering; or references to other local, state, or federal laws, codes, rules, or regulations. 3 Resolution Support -Kent School District Proposition 1 Endorsement Capital Improvement and School Construction General Obligation Bonds SECTION 5. -Effective Date. This resolution shall take effect and be in force immediately upon its passage. PASSED at a regular open public meeting by the City Council of the City of Kent, Washington, this day of --l,,,...;'-"4-=���e::., 2016. CONCURRED in by the Mayor of the City of Kent this day of . .9��2016. ATTEST: SUE HANSON, INTERIM CITY CLERK APPROVED AS TO FORM: I hereby certify that this is a true and correct copy of Resolution No. passed by the City Council of the City of Kent, Washington, the ��--day of=�"""-""�=""""'"--'--"'----' 2016. p:\chil\rcsolution\k.'id bond resolution -support.docx SUE HANSON, INTERIM CI1Y CLERK 4 Resolution Support -Kent School District Proposition l Endorsement Capital Improvement and School Construction General Obligation Bonds EXHIBIT A EXHIBIT A WHEREAS, the District will notify the King County Manager of Records and Elections, as ex officio Supervisor of Elections for the District, in compliance with chapters 29A,04 and 29A.40 RCW, of its intention to hold a special election on Tuesday, November 8, 2016, to submit the proposition of the issuance of the Bonds to the qualified electors of the District for their approval or rejection and to levy such taxes; WHEREAS, chapter 39.98 RCW was enacted for the purpose of establishing a credit enhancement program (the "Program") for voter-approved school district general obligation bonds; WHEREAS, RCW 39.98.040 authorizes the State Treasurer to make a determination that a school district is eligible for participating in the Program under rules adopted by the State Finance Committee; and WHEREAS, to the extent the Program demonstrates savings to the taxpayers of the District, the District wishes to participate in the Program; NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND ORDERED, as follows: Section 1: The Board hereby determines that the best interest of the residents and students of the District requires the planning, acquisition, design, construction and installation of certain capital improvements and betterments to its facilities, together with all necessary appurtenances, fixtures and furnishings therefor, including technology improvements. Section 2: The proposed capital improvements (the "Project") to be paid for with the Bond proceeds are as follows: (a)the construction of two new elementary schools; (b)the construction of 20 new classrooms; (c)renovation of multi�purpose rooms at various schools; (d)renovation of fields, tracks and courts at various schools; (e)acquire new smartboards; (f)capital improvements to the roofs at various schools; (g)the acquisition and installation of all necessary appurtenances, equipment, fixtures and furnishings of the foregoing, including technology improvements, as deemed necessary by the Board; 2 4850-7492-1009.1 EXHIBIT A (h)the acquisition, construction and installation of all such other capital improvements deemed necessary by the Board; and (i)ancillary costs of planning, engineering, architectural, construction management, attorney's fees, costs of bond issuance, permits, accounting costs, easements and any other expenses or consultant fees incidental thereto, together with all necessary appurtenances, fixtures and furnishings thereto. Such capital improvements and betterments described in Section 2 above, which do not include the replacement of equipment, are to be more fully described in the plans and specific;ations to be prepared by the District's architects and engineers and to be filed with the District. The District anticipates the receipt of financing assistance from the State under chapter 28A.525 RCW in the estimated amount of $5,000,000. The proposed capital improvements to be paid for with the financing assistance are unrelated to the Project and may include, but are not limited to, additional work on projects proposed to be paid for with Bond proceeds, modemi;zing and equipping the District's existing educational and administrative support facilities, constructing and equipping new District educational and administrative support facilities, purchasing property for future schools or other District facilities, technology improvements and other capital improvements deemed necessary and desirable by the Board, all in order of priority and in the amount as determined necessary and desirable by the Board. Section 3: If, in the opinion of the Board, the needs of the District change in a manner that results in a circumstance wherein any portion of the above-referenced capital improvements is not required or in the best interests of the District, the Board retains the right not to acquire, construct and install such capital improvements and to reallocate the money originally contemplated therefor to other capital improvements to the District's facilities deemed more necessary by the Board, or to deposit such money into the District's Debt Service Fund to make debt service payments on the Bonds outstanding or to call and redeem a portion of the Bonds prior to maturity; provided, any change in use of Bond proceeds shall be in the form and manner required by law. Section 4: The total estimated cost of the capital improvements program adopted by the Board is hereby declared to be approximately $257,000,000; $252,000,000 of which shall be paid, if authorized and empowered by the three-fifths (3/5) majority approving vote of the qualified electors of the District, by the issuance and sale of the Bonds. Section 5: In the event the District has other legally available money or there are Bond proceeds ( or interest earnings thereon) remaining after the capital improvements set forth in Section 2 above have been completed or duly provided for, the Board retains the right to make additiohal capital improvements to the facilities of the District as are deemed necessary and desirable by the Board, or to deposit such money into the District's Debt Service Fund to make debt service payments on the Bonds outstanding or to call and redeem a portion of the Bonds prior to maturity. Section 6: In the event the Bond proceeds are insufficient to make all of the capital improvements set forth in Section 2 above, the District shall use the available money to pay the 3 4850-7492-1009. l EXHIBIT A EXHIBIT A 4850-7492-1009.I EXHIBIT A Section 14: This Resolution shall take effect immediately upon af.loption. ADOPTED by the Board of Directors of Kent School District No. 415, King County, Washington, at a regular meeting thereof, held on June 8, 2016. Dr. Calvin J. Watt Secretary to the Board of Directors (SE AL) 4850-7492-1009. l KENT SCHOOL DISTRICT NO. 415 King County, Washington Karen DeBruler, President �-�1� Debbie Straus, Vicresident O..u ... � /J.11 J� Agda )turch d, Directo ilit&A� Russ H'scom, D�r ctor () ' �-------· 6 EXHIBIT A * * * * ** * * * * * * * * * CERTIFICATE I, Dr. Calvin J. Watts, Secretary to the Board of Directors of Kent School District No. 415, King County; Washington, hereby certify that the foregoing Resolution is a full, true and correct copy of a Resolution duly passed and adopted at a regular meeting of the Board of Directors of such District, duly held at the regular meeting place thereof on June 8, 2016, of which meeting all members of such Board had due notice, and at which a majority thereof was present; and that at such meeting such resolution was adopted by the following vote: • • .11 J _ I), , , 11 1. ,,.t t1 ,A/� 1, h,1 b.e /3Juclvt £tr.?.{ H1UtJ tt111 A YES, and m favor thereof, Directors: !'--lot(ft l:J1·fll-f!,n/n1L1 ,,.__,vivv . . 1 r . r}i6blt S:/nutt; /l1dfll-/!f!t1d(JVis4ttl11 NAYS, Directors: -tJ- ABSENT, Directors: -e­ ABST AIN, Directors: -6:r-- I fu1iher ce1iify that I have carefully compared the same with the original Resolution on file and ofrecord in my office; that such Resolution is a full, true and correct copy of the original Resolution adopted at such meeting; and that such Resolution has not been amended, modified or rescinded since the date of its adoption, and is now in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand this 8th day of June, 2016. (S E AL) 4850-7492-1009. l KENT SCHOOL DISTRICT NO. 415 King � Washington Dr.�� Secretary to the Board of Directors EXHIBIT A 4850-7492-1009. l