CITY OF SNOQUALMIE, WASHINGTON
ORDINANCE NO. 1032
AN ORDINANCE of the City of Snoqualmie, Washington, providing for the submission to the voters of the City at a special election to be held in conjunction with the statewide general election on November 4, 2008, of a proposition authorizing the City to issue its general obligation bonds, for the purpose of constructing and equipping a community center with a gymnasium, fitness center, multi-purpose room and an indoor pool, in the principal amount of no more than $10,000,000, payable by annual property tax levies to be made in excess of regular property tax levies, as more particularly set forth herein; and declaring an emergency and an immediate effective date; and providing for other matters relating thereto.
THE CITY COUNCIL OF THE CITY OF SNOQUALMIE, WASHINGTON, DO ORDAIN as follows:
Section 1. Findings. The City Council of the City of Snoqualmie, Washington (the “City”) makes the following findings and determinations:
(a) It is in the best interest of the City to construct and equip a community center with a gymnasium, fitness center, multi-purpose room and an indoor pool (the “Project”), and the City does not currently have sufficient funds available for that purpose.
(b) The City Council wishes to seek voter approval for the issuance and sale of not to exceed $10,000,000 of general obligation bonds of the City (the “Bonds”) to pay the costs of the Projects and the costs of issuance of such bonds, to be repaid by an annual excess property tax levy.
(c) The constitution and laws of the State of Washington provide that the question of whether or not the City may issue such bonds and levy such excess taxes be submitted to the qualified electors of the City for their ratification or rejection at a special election.
(d) The Project is necessary for the support of City government and its existing public institutions, and the deadline for submitting to the voters such a measure is August 12, 2008, which deadline constitutes an emergency requiring that this ordinance become effective immediately upon passage so that it may be timely submitted so that the voters may approve or reject this measure on November 4, 2008.
Section 2. Purpose and Authorization.
(a) Project Description. The City Council finds that it is in the best interest of the City to construct and equip a community center with a gymnasium, fitness center, multi-purpose room and an indoor pool (the “Project”). The Projects shall include all necessary equipment and appurtenances, but shall not include the replacement of equipment. The cost of all necessary architectural, engineering, legal and other consulting services, inspection and testing, administrative expenses, site acquisition or improvement, demolition, on and off-site utilities, related improvements and other costs incurred in connection with the Project shall be deemed a part of the costs of such capital improvements. The City Council may modify the details of the Project where necessary or advisable in the judgment of the City Council.
(b) Use of Bond Proceeds. If the proceeds of the sale of the Bonds and other available money are insufficient to make all of the capital improvements provided for in this ordinance, or if it has become impractical to accomplish any portion of the Project, the City may use the proceeds of the Bonds and other available money for paying the costs of those portions of the Project deemed by the City Council to be most necessary and in the best interest of the City.
(c) Total Estimated Cost. The estimated cost of the Project, including the costs of issuing and selling the Bonds, is declared to be approximately $14,000,000. The economic life of the Projects is expected to be at least 20 years.
Section 3. Description of Proposed Bonds. The Bonds shall be issued and sold in such manner, at such times and in such amounts as shall be required for the purpose for which such bonds are to be issued. They may be issued as a single issue, as a part of a combined issue with other authorized bonds, or in more than one series, as deemed advisable by the City Council and as permitted by law. The Bonds shall be fully registered bonds, bearing interest payable as permitted by law and maturing not more than 20 years from the date of issue. The exact date, form, terms, options of prior redemption, price, interest rate or rates and maturities of the Bonds shall be hereafter fixed by ordinance of the City Council. The Bonds shall be paid by annual property tax levies sufficient in amount to pay both principal and interest when due, which annual property tax levies shall be made in excess of regular property tax levies, without limitation as to rate or amount but only in amounts sufficient to meet such payments of principal and interest as they come due. Pending the issuance of the Bonds, the City may issue short-term obligations pursuant to chapter 39.50 RCW or such other obligations as are permitted by law to pay for the costs of the Projects. Such obligations and their costs may be paid or refunded with proceeds of the Bonds when issued.
Section 4. Calling of Election. The City Council requests that the Director of Records and Elections of King County, Washington (the “Director of Elections”) call and conduct a special election in the City, in the manner provided by law, to be held on November 4, 2008, in conjunction with the State general election, for the purpose of submitting to the voters of the City, for their approval or rejection, the question of whether or not general obligation bonds of the City shall be issued in the principal amount of not more than $10,000,000, the proceeds of which shall be expended to pay the costs of the Project, and annual excess property taxes shall be levied to pay and retire the Bonds. The proceeds of the Bonds shall be used for capital purposes only, which shall not include the replacement of equipment. If this proposition is approved by the requisite number of voters, the City shall be authorized to issue the Bonds in the manner described in this ordinance, to spend the proceeds thereof to pay the costs of the Projects, and to levy excess property taxes to pay and retire such bonds.
Section 5. Ballot Proposition. The City Clerk (or her designee) is authorized and directed to certify, no later than August 12, 2008, to the Director of Elections, as ex officio supervisor of elections in the City, a copy of this ordinance and the proposition to be submitted at that election in the form of ballot title pursuant to RCW 29A.36.071, substantially as follows:
CITY OF SNOQUALMIE
PROPOSITION 1
RECREATION FACILITIES BONDS
The City Council of the City of Snoqualmie has passed Ordinance ___ concerning financing community, recreation and athletic facilities. If approved, this proposition would authorize the City to issue not more than $10,000,000 of general obligation bonds (maturing within 20 years or less) to construct and equip a community center with a gymnasium, fitness center, reception hall and an indoor pool, and to annually levy excess property taxes to pay and retire such bonds, all as provided in the ordinance.
Should this proposition be approved?
Yes .................. |__|
No ................... |__|
For purposes of receiving notice of any matters related to the ballot title, as provided in RCW 29A.36.080, the City Council hereby designates the City’s bond counsel, Foster Pepper PLLC (Alice Ostdiek, ostda@foster.com, 206-447-4663) as the person to whom the Director of Elections shall provide such notice.
Section 6. Authorizations. The proper City officials are authorized to perform such duties as are necessary or required by law to the end that the question of whether or not bonds shall be issued, as provided in this ordinance, shall be submitted to the voters of the City at the November 4, 2008, state general election. If the City receives voter approval to issue the Bonds in the manner described in this ordinance, the Mayor and Chief Financial Officer are each independently authorized to: (a) review and “deem final” (within the meaning of Rule 15c2-12 of the Securities and Exchange Commission), if necessary and upon such official’s satisfaction, any preliminary official statement prepared in connection with the sale of the Bonds by the City; (b) authorize the “deemed final” preliminary official statement to be distributed prior to the date any underwriter or purchaser bids for, purchases, offers or sells the Bonds; and (c) acknowledge in writing any action taken pursuant to clauses (a) and (b) of this paragraph. All actions taken prior to the effective date of this ordinance and in furtherance of these objectives are hereby ratified and confirmed.
Section 7. Intent to Reimburse. The City Council declares that to the extent that the City makes capital expenditures for the Project, prior to the date the Bonds or other short term obligations are issued to finance the Project, from funds that are not (and are not reasonably expected to be) reserved, allocated on a long-term basis or otherwise set aside by the City under its existing and reasonably foreseeable budgetary and financial circumstances to finance the Project, those capital expenditures are intended to be reimbursed out of proceeds of the Bonds or other short term obligations issued in an amount not to exceed the principal amount of the Bonds provided by this ordinance.
Section 8. Local Voters’ Pamphlet Authorized. The preparation and distribution of a local voters’ pamphlet providing information on the foregoing ballot measure is hereby authorized. The pamphlet shall include arguments advocating approval and disapproval of the ballot measure. In accordance with RCW 29A.32.280, the arguments advocating approval and disapproval of the ballot shall be prepared by committees appointed by City Council by motion, or by the Director of King County Elections pursuant to RCW 29A.32.280, not later than forty-five days before the publication of the pamphlet, or as otherwise requested by the Director of Elections. Each committee shall be composed of not more than three persons, and the committee advocating approval shall be composed of persons known to favor the ballot title and the committee advocating disapproval shall be composed of persons known to oppose the ballot title.
Section 9. Severability. If any provision of this ordinance is declared by any court of competent jurisdiction to be invalid, then such provision shall be null and void and shall be severable from the remaining provisions of this ordinance, and shall in no way affect the validity of the other provisions of this ordinance or of any other ordinance or resolution or of the Bonds.
Section 10. Ratification of Prior Acts. Any action taken consistent with the authority of this ordinance, after its passage but prior to the effective date, is ratified, approved, and confirmed.
Section 11. Effective Date. The Council finds and declares that, due to the need to meet, in a timely fashion, the deadline under State law to file this election request with the County Department of Elections, this ordinance is designated as a public emergency ordinance necessary for the protection of public health, public safety, public property or the public peace, and necessary for the support of City government and its existing public institutions. Based upon this urgency, and if passed by a majority of the Council membership plus one, this ordinance shall be effective immediately upon its passage.
PASSED by the City Council and APPROVED by the Mayor of the City of Snoqualmie, Washington, at a regular open public meeting thereof, this 11th day of August, 2008.
CITY OF SNOQUALMIE, WASHINGTON
Matthew R. Larson, Mayor (signed)