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HomeMy WebLinkAboutO-1860 - Establishes utility Local Improvement District No. 15 (Repealed by 1864)CITY OF MARYSVILLE,WASHINGTON ORDINANCE NO.IffGo J-jtwc- oI-''''Book.potb" .--r::':/-nno.lJc~ 1-~6Jie.-~.h'i.Ls AN ORDINANCE relating to the waterworks utility of the City,including the system of sewerage as a part thereof;ordering the carrying out of a portion of the system or plan of additions to and betterments and exten- sions of such waterworks utility adopted by Ordinance No. 937;and creating utility Local Improvement District No.15. WHEREAS,the City of MARYSVILLE,Washington (the "City"),by Ordinance No.385 passed September 2,1952, combined the sewerage system of the City and all additions and improvements thereto with the waterworks utility of the City,and the sewerage system at all times since has been considered a part of and belonging to the waterworks utility of the City,and the words "waterworks utility"of the City" hereinafter shall mean the combined sewerage ~ystem and wa~er system of the City,together with all additions thereto and betterments and extensions thereof heretofore or hereafter made;and WHEREAS,by Resolution No.1499 adopted September 9,1991,the City Council declared its intention to initiate the formation of a utility local improvement district to be known and designated as utility Local Improvement District No.15 of the City for the construction and installatr6~of that portion of the system or plan of additions and betterments to and extensions of the waterworks utility adopted by Ordinance No.937,to serve the area described in Exhibit A attached hereto and by this reference made a part hereof,and fixed October 7,1991,at 7:00 p.m.,local time, in the Council Chambers in the Public Safety Center, Marysville,Washington as the time and place for hearing all matters relating to the improvement applicable to Utility Local Improvement District No. 15 and for hearing all objections thereto and for determining the method of payment for that improvement;and WHEREAS,Hammond,Collier Wade-Livingstone Associates,Inc.,the City's consulting engineers,caused an estimate to be made of the cost and expense of the proposed improvement applicable to utility Local Improvement District No.15 and certified that estimate to the City Council, together with all papers and information in its possession touching the proposed improvement,a description of the boundaries of the utility 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 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 borne by each lot, tract and parcel of land or other property;and - 2 - WHEREAS,due notice of the above hearing was given in the manner provided by law,and the hearing was held by the City Council on the date and at the time above mentioned,and all objections to the proposed improvement were duly considered and overruled by the City Council,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 carried out and that a utility local improvement district be created in connection therewith;NOW,THEREFORE, THE CITY COUNCIL OF THE CITY OF MARYSVILLE, WASHINGTON,DO ORDAIN as follows: Section 1.The City orders the carrying out of the portion of the system or plan of additions to and betterments and extensions of the waterworks utility of the City adopted by Ordinance No.937 applicable to the property described in Exhibit A attached hereto consisting of the construction and installation of an 8-inch sewer main along 92nd Street N.E.from 58th Drive N.E.to 55th Avenue N.E. The estimated cost of the acquisition,construction and installation of the Plan of Additions is declared to be,as nearly as may be,the amount of $208,000 and such estimated cost shall be met and defrayed from the proceeds received - 3 - from the issuance and sale of water and sewer revenue bonds of the City in the amount of approximately $208,000.Such water and sewer revenue bonds shall be supported by assessments to be levied and assessed against properties specially benefited by the improvements to be included in utility Local Improvement District No.15 created herein. Section 2.The City shall issue one or more series of water and sewer revenue bonds at such times as the City Council shall deem advisable.Such revenue bonds shall bear such designation as the City Council hereafter shall determine~shall be issued in such series~shall be in such form~shall bear such date or dates and interest rate or rates~shall be payable at such place or places~shall mature serially or shall be term bonds~shall have such option of paying prior to maturity~shall guarantee such coverage and collection of rates~shall provide for such additional funds and accounts~and shall contain and be subject to such provisions or covenants as hereafter shall be provided by ordinance.The bonds shall be sold in such manner as the City Council shall deem to be in the best interest of the City.The bonds shall be payable from the gross revenues received from charges for water and sanitary sewage disposal services furnished and from the receipt of payments of assessments levied in utility Local Improvement - 4 - District No.15 therein created to support the payment of the bonds herein authorized to be issued and any parity bonds hereafter issued. Section 3.In the judgment of the City Council, the gross revenues and benefits to be derived from the operation and maintenance of the waterworks utility of the City and the Plan of Additions herein provided,at the rates to be charged for water and sanitary sewage disposal service furnished,will be more than sufficient to meet all expenses of operation and maintenance thereof and to permit the setting aside into a special fund out of the gross revenues of the waterworks utility of the City,in addition to the special assessments to be levied and collected in Utility Local Improvement District No. 15 herein created to support the payment of the bonds herein authorized to be issued,of sufficient amounts to pay the principal of and interest on those bonds. Section 4.There heretofore has been created and established in the office of the City Finance Director a special fund known as the Utility Construction Fund into which fund shall be deposited the proceeds received from the issuance and sale of the bonds herein authorized to be issued and which fund shall be used for the purpose of paying the cost of carrying out the Plan of Additions and of paying the costs and expenses connected therewith.The City,through its proper officers and agents,shall proceed with the making of those improvements and the calling of - 5 - bids therefor in the manner provided by law.Pending the sale of the bonds herein authorized to be issued,the City may issue interest-bearing warrants drawn on the ULID No.15 Construction Fund to pay duly approved costs incurred in carrying out such improvements,those warrants to bear such interest as may be agreed upon between the City and any bank or investment banking firm agreeing to make a market for such warrants and such warrants to be paid out of the proceeds received from the sale of the bonds herein authorized to be issued and from any other money available to the City in cash to finance the improvements.In the alternative,the City hereafter may provide by ordinance for the issuance of other short-term obligations pursuant to Chapter 39.50 RCW.The Finance Director is authorized under RCW 39.50.030 to act on behalf of the City in selling and delivering short-term obligations as authorized herein and in fixing the dates,price,interest rates (which may be fixed or variable but which may not exceed 12%per annum) and other terms and conditions consistent with the purposes of this ordinance.The Finance Director is authorized and directed to execute such instruments and documents as are necessary in connection with the issuance of those short-term obligations. Section 5.To carry out the Plan of Additions and Betterments there is created and established Utility Local Improvement District No.15 of the City of Marysville, Washington (the "District"),the boundaries or territorial - 6 - extent of which District are more particularly described in Exhibit A attached hereto. Section 6.The entire cost and expense of the Plan of Additions and Betterments shall be borne by and assessed against the property specially benefited by such improvement included in the District embracing as nearly as practicable all property specially benefited by such improvement.The assessments in the District shall be for the sole purpose of payment into the Water and Sewer Revenue Refunding Bond Fund,1977,in the event that the water and sewer revenue bonds authorized herein are issued on a parity of lien with the outstanding bonds payable from such fund or into a special bond redemption fund hereafter created for the payment of water and sewer revenue bonds to be issued by the City to provide the funds required to pay the cost and expense of carrying out the Plan of Additions and Betterments. Section 7.In accordance with the provisions of RCW 35.44.047,the City may use any method or combination of methods to compute assessments which may be deemed to fairly reflect the special benefits to the properties being assessed. Section 8.within fifteen (15)days of the passage of this ordinance there shall be filed with the Finance Director the title of the improvement and District number,a copy of the diagram or print showing the - 7 - 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 Director shall immediately post the proposed assessment roll upon his index of local improvement assessments against the properties affected by the local improvement. PASSED by the City Council and APPROVED by the Mayor of the city of Marysville,Washington,at a regular open public meeting thereof,this 7t::J..day of tJ;:Xokr 1991. ATTEST: (iJ2;fJL/)0£)~: City CI~ APPROVED AS TO FORM:. City Attorney - 8 - , ORDINANCE NO.J 'B (PO EXHIBIT "A" LEGAL DESCRIPTION SEWER EXTENSION -92ND STREET NORTHEAST Lots 1 through 36 in the plat of Cascade Vista,Part 1,as recorded in the records of Snohomish County,Washington, Volume 20 of Plats,page 89.