HomeMy WebLinkAbout2510RESOLUTION NO. 2510
A RESOLUTION assuming indebtedness and assets of Rocky Point Water District
upon annexation.
WHEREAS, the City of Bremerton owns the water system improvements of the
Rocky Point Water District under a 1962 operating agreement and operates the same
pursuant to RCW 57.08.020; and
WHEREAS, the district has recently issued bonds for $1 million in debt to meet its
district obligations to replace deteriorating mains and laterals of the system; and
WHEREAS, an upcoming annexation election may result in the inclusion of the
entire Rocky Point Water District within the City; now, therefore,
BE IT RESOLVED by the City Council of the City of Bremerton:
That all assets, rights and properties of the Rocky Point Water District and all
indebtedness of the district shall be assumed by the City of Bremerton Water Fund upon
annexation of the district into the City, with the Water Fund paying all debt service on
bonds issued by the district or otherwise retire outstanding debt, pursuant to RCW
35.13A.020.
BE IT FURTHER RESOLVED that this Resolution shall take effect upon the final
annexation of Rocky Point Water District into the City of Bremerton.
PASSED by the City Council of the City of Bremerton this 19th day of April, 1995.
SHERRIL HUFF-MENEES
Council President