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Home My WebLink Aboutord1984-088Date: September 6, 1984 Introduced by: Consent Prepared by: Bond Counsel ORDINANCE NO. 84 -88 AN ORDINANCE OF THE COUNTY COUNCIL OF WHATCOM COUNTY, WASHINGTON, PROVIDING FOR THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE COUNTY AT A SPECIAL ELECTION TO BE HELD THEREIN ON NOVEMBER 6, 1984, OF THE PROPOSITION OF WHETHER OR NOT THE COUNTY .SHOULD ISSUE UP TO $6,500,000 OF ITS GENERAL OBLIGATION BONDS, PAYABLE, BOTH PRINCIPAL AND INTEREST, OUT OF ANNUAL TAX LEVIES IN EXCESS OF REGULAR TAX LEVIES AND MATURING WITHIN A MAXIMUM TERM OF 20 YEARS FROM DATE OF ISSUANCE TO PROVIDE FUNDS NECESSARY TO ACQUIRE, DEVELOP, RESTORE AND MAKE OTHER IMPROVEMENTS TO VARIOUS PARK AND RECREATION FACILITIES. WHEREAS, the Park and Recreation Board of Whatcom County, Washington, (the "County ") has recommended that the County acquire, develop, restore and make other improvements to the various park and recreation facilities as described in Section 1 of this ordinance; and WHEREAS, the .money in and to be paid into .the Park and Recreation Fund of the County will be insufficient to enable the County to so acquire, develop, restore and make other improvements to the various park and recreation facilities; and WHEREAS, in order to provide the funds necessary to pay the cost of such acquisition, development, restoration and improvement, it is deemed necessary that the County issue general obligation bonds in the aggregate principal: amount of $6,500,000 and that such bonds should mature within a maximum term of 20 years of the date of their issuance; and - Ordinance - 1. WHEREAS, it is deemed necessary to pay the principal and interest of such bonds that each year the County levy a tax upon all of the taxable property within the County in excess of the annual tax the County is permitted by law to levy without a vote of the people; and WHEREAS, the Constitution and laws of the' State of Washington require that the question of whether or not such additional indebtedness may be incurred and such excess tax may be levied must be submitted to the qualified electors of the County for their ratification or rejection; and WHEREAS, the County Council recognizes that maintenance and operation costs associated with capital improvements must be properly projected and budgeted. NOW, THEREFORE, BE IT RESOLVED BY THE COUNTY COUNCIL OF WHATCOM COUNTY, WASHINGTON, as follows: Section 1. Findings. The County Council (the "Council ") hereby finds and declares that the public interest, safety, benefit and welfare requires the County to make the following improvements: (a) Acquisition, expansion, equipping and rehabilation of the eight existing senior citizen services facilities; (b) Repairs and improvements to existing park system facilities and infrastructure including parking areas, log booms, sidewalks, dikes, retaining walls, trails, septic systems, campsites, water systems, and roads including necessary capital equipment; (c) Acquisition and. development of sites with historic value, athletic fields, parks and facilities; . (d) Acquisition of saltwater public access or frontage for park purposes; - Ordinance - 2. If funds are available, the County shall make other capital improvements as found necessary by the Council. Section 2. Authorization of Bonds. For the purpose of providing funds to pay the cost of making these improvements, including all costs of financial, legal and other services lawfully incurred incident thereto, and to the issuance of the bonds therefor, the County shall issue its general obligation bonds in a principal aggregate amount not to exceed $6,500,000 (the "Bonds "). None. of the proceeds of said Bonds shall be used for the replacement of equipment or for other than a capital purpose. . Said Bonds shall be sold at such time or times as deemed necessary and advisable by the Council and as permitted by law. The Bonds shall bear interest at a rate or rates to be determined by the Council at the time said bonds are sold at public or private sale and shall mature.within a maximum term of 20 years from the date of issue, but may mature at an earlier date or dates, as authorized by the Council and as provided by law. Both principal of and interest of said Bonds shall be payable by annual levies in excess of regular property tax levies to be made upon all the taxable property within the County. The exact date, form, terms, options of redemption and maturities of the Bonds shall be as hereafter fixed by ordinance of the.County. In the event the proceeds of the sale of said Bonds, plus any or all of the other moneys available for such purposes, are insufficient to pay all of the County's share of the capital improvements approved by the voters as herein provided for, the County shall use the available funds for paying the cost of those approved improvements deemed most necessary and in the best interest of the County by the Council. - Ordinance - 3. Section 3. Findings regarding Maintenance and Operation. Prior to the expenditure of bond proceeds for the acquisition of capital improvements authorized in Section 1 herein, other than the infrastructure improvements authorized, in Section 1, subsection (b) the Council shall make findings that the funds projected to be needed for the payment of maintenance and operation costs of such capital improvements over the first five years of their operation are projected to be available from County tax revenues or other public or private sources. The County hereby encourages the use of intergovernmental agreements and agreements with the users of park facilities for the joint development and continued maintenance of such facilities. Section 4. Useful Life of Improvements. The life of the improvements to be acquired by the use of the bond proceeds is hereby estimated and declared to be no less than 20 years. Section 5. Special Election Called. It is hereby found and declared that an emergency exists requiring the submission to the qualified electors of the County of the proposition of whether or not the County shall issue said general obligation bonds for their ratification or rejection at a special election to be held within the County on November 6, 1984. . The Whatcom County Auditor, as ex _officio supervisor of elections in said county, is hereby requested to find the existence of such emergency and to call and conduct said special election to be held within the County on said date and to submit to the qualified electors of the County the proposition hereinafter set forth. The Clerk of the Council is hereby authorized and directed to certify said proposition to the County Auditor in the following form: - Ordinance - 4. PROPOSITION NO. PARK AND RECREATION GENERAL OBLIGATION BONDS - $6,500,000 To provide funds for remodeling senior services facilities, developing athletic fields and parks, and acquisition of saltwater frontage, and making infrastructure improvements to its existing parks, shall Whatcom County issue $6,500,000 of its general obligation bonds payable, both principal and interest, out of annual tax levies in excess of regular property tax levies and maturing within a maximum term of 20 years from date of issue, all as provided in Ordinance No. of the County? BONDS . . . . . . . . . . . . . Yes BONDS . . . . . . . . . . . . . No The Clerk of the County Council is hereby directed to deliver a certified copy of this ordinance to the Whatcom County Auditor. Section 6. Effective Date. This ordinance shall become effective immediately upon its passage, approval, and publication as required by law. INTRODUCED this 6th day of September 1984. ADOPTED this 20thday of September 1984. WHATCOM COUNTY COUNCIL WHATCOM- COUNTY, S IN TON By: 1 WA v CRAIG W. Chairpers ATTEST: P-44W Ue�-2� CLERK OF THE COUNC L - Ordinance - 5. ( ,/) APPROVED ( ) VOTED APPROVED AS TO FORM: 9J., L_ '1G�k SHIRLEY VAN ZANTZN County Executive Civil Deputy Prosecuting Attorney September 21 1984 (DATE) PUBLISHED on September 12, 1984 AND September 26, 1984 This ordinance shall become effective on September 20 , 1984. - Ordinance - 6. CERTIFICATE I, the undersigned, Clerk of the, County Council of Whatcom County, Washington, (the "County ") and keeper of the records of the County Council (the "Council "), DO HEREBY CERTIFY: 1. That the attached is a true and correct copy of Ordinance No.84 -88 (the "Ordinance "), an ordinance of the Council duly adopted at a regular meeting thereof held on the 20thday of September 1984. 2. That said meeting was duly convened and held in all respects in accordance with law, and to the extent required by law, due and proper notice of such meeting was given; that a legal quorum was present throughout the meeting and a legally sufficient number of members of the Council voted in the proper manner for the passage of the Ordinance; that all other requirements and proceedings incident to the proper passage of the Ordinance have been duly fulfilled; carried out and otherwise observed; and that I am authorized to execute this certificate. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the County this 21st day of September 1984. �l i 84d' e -L I.--)A-, Clerk of the Counc' i i 1 i i 4