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Home My WebLink About2866 RESOLUTION NO. ~ A RESOLUTION of the City Council of the City of Bremerton, Washington, making a finding; providing for the submission to the registered voters of the City at a special election to be held in conjunction with the pr/mary election on September 17, 2002, of a proposition authorizing the City to acquire additional police vehicles, fire trucks, apparatus and equipment; to acquire land, construct, remodel and equip new fire, police and court facilities; to incur indebtedness; to issue no more than $12,979,000 of unlimited tax general obligation bonds maturing within 25 years to pay the costs of such construction and acquisition; and to levy annual excess property taxes to pay and retire such bonds; and declaring an emergency. WHEREAS, the City Council of the City of Bremerton, Washington (the "City"), finds it in the best interests of the City to acquire additional police vehicles, fire trucks, apparatus and equipment; to acquire land, construct, remodel and equip new fire, police and court facilities; and WHEREAS, in order to provide all or part of the funds necessary to accomplish such project, the City Council finds it necessary, proper and advisable that the City incur indebtedness, issue no more than $12,979,000 of unlimited tax general obligation bonds maturing within 25 years to pay the costs of such construction and acquisition, and levy annual excess property taxes to pay and retire such bonds; and WHEREAS, by law the proposition of whether the City may incur such indebtedness and issue such bonds for such purposes must be submitted to the registered voters 0fthe City for their ratification or rejection; NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. Finding and Estimated Costs of Proiect. The City Council deems it to be in the best interests of the City and its citizens to acquire additional police vehicles, fire Public Safety Bond 1 trucks, apparatus and equipment; to acquire land, construct, remodel and equip new fire, police and court facilities (the "Project"). The estimated cost of the Project, including the costs of issuing and selling the bonds authorized by this resolution, is declared to be, as nearly as may be determined, $12,979,000. SECTION,?. Proposal to Issue Bonds. Subject to the approval of the registered voters of the City, the City hereby authorizes the incurrence of indebtedness and the issuance of the bonds therefor in an aggregate principal amount not to exceed $12,979,000 (thc "Bonds") for the purpose of providing all or part of the money necessary to pay the capital costs of the Project. The term "capital costs," as used in this Section, shall be construed consistently with the term "capital purposes" in Article VII, Section 2(b) of the Washington Constitution and RCW 84.52.056, but, subject thereto, may include the costs of (i) property acquisition, including leasing and acquiring purchase options, (ii) engineering, design, demolition and other site preparation; and (iii) planning, financial, legal and other services lawfully incurred incident to accomplishing the Project and its financing, including the incidental costs and costs related to the sale and issuance of the Bonds; provided, however, the term "capital costs" shall not include maintenance, operation or costs for replacement of equipment. The Bonds shall bear such date or dates; shall mature at such time or times not to exceed 25 years from the date of issuance thereof; shall be issued in such denominations; shall bear such terms, conditions and covenants; shall be in such form; shall bear interest at such fixed or variable rate or rates; shall bear such redemption and registration privileges; and shall be sold in such manner, at such time or times, in such amounts and at such price or prices as the City Council shall hereafter determine by ordinance. The Bonds may be issued in one or more series, either separately or in combination with other authorized general obligation bonds of the City. The Bonds shall be general obligations of the City and, unless paid from other sources, both the principal thereof and the interest thereon shall be payable from annual property tax levies, if authorized by the registered voters as provided in Section 4 of this resolution, upon all taxable property within the City in excess of all regular property tax levies, without limitation as to rate or amount. Public Safety Bond 2 SECTION 3. Short-Term Obligations. Subject to the approval by the registered voters of the City of the issuance of the Bonds to pay the capital costs of the Project, the City may, by ordinance, provide for the issuance of short-term obligations in anticipation of the issuance of the approved Bonds in accordance with the provisions of RCW 39.50. The aggregate principal amount of all such short-term obligations and Bonds outstanding at any time shall not exceed $12,979,000. SECTION 4. Submission to Voters. The City Council finds that an urgent need exists for the Project and declares that an emergency exists requiring submission to the registered voters of the City of the proposition authorizing the incurrence of indebtedness and the issuance of the Bonds to pay the capital costs of the Project at a special election to be held in conjunction with the primary election on September 17, 2002. The Kitsap County Auditor, as ex officio supervisor of elections, is hereby requested to fred the existence of such emergency pursuant to RCW 29.13, and is requested to assume jurisdiction of and to call and conduct a special election, to submit to the registered voters of the City the proposition set forth below. The City Clerk is hereby authorized and directed to certify said proposition to the Kitsap County Auditor in substantially the following form, with such additions, deletions or modifications as may be required by the City Attorney: THE CITY OF BREMERTON, WASHINGTON PROPOSITION NO. 1 PUBLIC SAFETY FACILITIES BONDS The City Council of the City of Bremerton, Washington, adopted Resolution No. ~ concerning a proposition for financing, constructing, remodeling and acquiring new public safety facilities and equipment. This proposition, if approved, will authorize the City to acquire additional police vehicles, fire trucks, apparatus and equipment; to acquire land, construct, remodel and equip new fire, police and court facilities; to incur indebtedness and issue no more than $12,979,000 of general obligation bonds maturing within 25 years to pay the costs thereof; and to levy annual excess property taxes to pay such bonds, as provided in Resolution No.,,~. Should this proposition be: Public Safety Bond 3 APPROVED .......... REJECTED .......... The City Clerk is hereby authorized to deliver a certified copy of this resolution to the Kitsap County Auditor. ,gECTION 5. ,~.varahili~. If any one or more of the provisions of this resolution shall be declared unconstitutional or invalid for any reason, such decision shall not affect the validity of the remaining provisions of this resolution, the Bonds or any short-term obligations issued in anticipation thereof, and this resolution, the Bonds and any short-term obligations issued in anticipation thereof shall be construed and enforced as if such unconstitutional or invalid provisions had not been contained herein. ,~ECTION 6, E~c. tiw Dat~. This Resolution shall take effect and be in force immediately upon its passage. PASSED by the City Council of the City of Bremerton, Washington this~ day of ~ ,2002. CAROL ARENDS, Council President R(SGg, k A. LUI~OVICH, City A~ KA: --- ~I-~J-,EEI~-MeCLUSKEY, ~ity Clerk Public Safety Bond 4