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Home My WebLink About05/21/2014 i BREMERTON TRANSPORTATION BENEFIT DISTRICT (TBD) BOARD ' a 3456 th Street, Suite 600, Bremerton, WA 98337 ❑ Phone (360) 473 -5280 MAY 21, 2014 SPECIAL MEETING OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD IN THE FIRST FLOOR MEETING CHAMBERS Immediately following the 5:30 PM City Council Meeting A. CALL TO ORDER B. CONSENT AGENDA 1. Claims & Check Register 2. Minutes of Regular Meeting — February 5, 2014 C. INFORMATION BRIEFING 3. Update on the Proposed 2014 TBD Work Plan D. BUSINESS ITEMS 4. Resolution No. 011 authorizing investment of TBD monies in the Local Government Investment Pool 5. Resolution No. 012 adopting the TBD Material Change Policy 6. Resolution No. 013 approving amendments to the "Charter of the Bremerton Transportation Benefit District" (No action until Special Meeting on July 16, 2014) 7. Resolution No. 014 approving amendments to the "Bylaws of the Bremerton Transportation Benefit District" (No action until Special Meeting on July 16, 2014) 8. Amendment to the Interlocal Agreement between the City of Bremerton and the Bremerton Transportation Benefit District E. ADJOURNMENT OF BREMERTON TBD BOARD MEETING ® Americans with Disabilities Act (ADA) accommodations provided upon request. Those requiring special accommodations please contact the City Clerk at (360) 473 -5323 at least 24 -hours prior to the Meeting. AGENDA BILL BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS SUBJECT: Claims & Check Registers BOARD MEETING Date: 05/21/2014 City Department: Finance Presenter: Shannon Corin Phone: 360 -473 -5323 SUMMARY: Approve 19 checks and one interfund transfer in the amount of $54,168.69. ATTACHMENTS: FISCAL IMPACTS (Include Budgeted Amount): RECOMMENDED MOTION: Move to approve the consent agenda as presented. AGENDA: r Consent Agenda 1 Business 1- Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Forth Updated 3/12/13 SUNGARD PENTAMATION - FUND ACCOUNTING; PAOL•' NUMaER: 1 DATE: 05/21/14 CITY OF ziRLt•lZ T,ilJ ACCTPA21 TIME: 09:08:29 CHECK REGISTER - BY FUND SELECTION CRITERIA: transact.fund ='701' ACCOUNTING PERIOD: 5/14 FUND - 701 - TRANS BENEFIT DISTRICT CASH ACCT CHECK NO ISSUE DT ----- - - - - -- VENDOR ----- - - - - -- BUD(3.T CODE ACCPIT - -- -DESCRIPTION - - -- SALES TAY AMOUIJT 111.10 350331 09/26/12 26999 KAREN AND bRIAN HOL 190 344.9000 HOLT TED FEE REFUND 0.00 20.00 111.10 350961 11/08/12 27046 DEBRA A Hl�NNA 190 344.9000 TBD REFUND 2012 - 0.00 20.00 111.10 351720 12/05/12 27061 RAY AGTAY 190 344.9000 RL•SIDES OUTSIDE CIT 0.00 20.00 111.10 352260 02/13/13 27061 RAY AGTAY 190 344.9000 RESIDES OUT CIT`1 LI 0.00 20.00 111.10 352296 02/13/13 27156 ALICIA HANNA 190 344.9000 RESIDES OUT CITY LI 0.00 20.00 111.10 352297 02/13/13 27046 DEBRA A HANNA 190 344.9000 RESIDES OUT CITY LI 0.00 20.00 111.10 353160 04/17/13 27237 RONALD R CRATER 190 344.9000 TED FEE NOT IN CITY 0.00 20.00 111.10 353562 05/15/13 27274 JOHN 14ESSLINK 196 344.9000 RESIDES OUT OF CITY 0.00 100.00 111.10 353777 05/30/13 27237 RONALD R CRATER 190 344.9000 RESIDES OUT OF CITY 0.00 40.00 111.10 353789 05/30/13 27046 DEBRA A HANNA 190 344.9000 RESIDES OUT OF CITY 0.00 20.00 111.10 354413 07/17/13 27046 DEBRA A HANNA 190 344.9000 - REFUND TED FEE 0.00 20.00 111.10 353701 08/07/13 27156 ALICIA HANNA 190 344.9000 REFUND TED FEE -HANH 0.00 20.00 111.10 354701 08/07/13 27156 ALICIA HANNA 190 317.6000 REFUND TED FEE -HANN 0.00 20.00 111.10 354701 08/07/13 27156 ALICIA HANNA 190 344.9000 REFUND TED FEE -HANN 0.00 -20.00 TOTAL CHECK 0 00 20.00 111.10 356447 12/24/13 27156 ALICIA HANNA 190 344.9000 TED FEE - HENNA -2005 0.00 20.00 111.10 356685 01/15/14 27562 DONNA REED 190 344.9000 REFUND 3 TED FEES 0.00 60.00 111.10 357058 02/12/14 27046 DEBRA A HANNA 190 317.6000 REFUND TED FEE 0.00 20.00 111.10 357072 02/12/14 19774 CAROLYN LAPINSKI 190 317.6000 TED FEE REFUND 0.00 20.00 111.10 357785 04/09/14 27237 RONALD R CRATER 190 317.6000 TED REFUND 0.00 20.00 111.10 358172 05/07%14 27046 DLiBRA A HANNA 190 317.6000 REFUND TED CHANGE 0.00 20.00 111.10 358305 05/21/14 27237 RONALD R CRATER 190 317.6000 2 TSD REFUNDS 0 00 40.00 TOTAL CASK ACCOLJ14T 0 00 540.00 TOTAL FUND 0.00 540.00 TOTAL REPORT 0.00 540.00 RUN DATE 05/21/2014 TIME 09:06:30 SUNGARD FENTAMATION - FUND ACCOUNTING ,.,i'rY OF BREMERTON' J INTERFUND TRANSFER CITY DEPARTMENTS ONLY DATE: %! - .'lov -'13 TRANSFER # COMPLETE THIS FORM IN DUPLICATE AND RETURN TO ACCOUNTS PAYABLE TO: Vr7,E=T FROM: --) AN SPAR T.lTlC,N 8ENEFil (REVENUE DEPARTMENT) (EXPENDITURE DEPARTMENT) QTY DESCRIPTION SUB-TOTAL TOTAL ;nsrer to ;tr ^et - (:I1}/ -wide crackseatinq work :ibor A.293.46 :- uipment ;laterials :9,120.73 S :63,628.69 .ACCOUNT 1WOUNT .ACCOUNT ,AMOUNT • 1 2- 344.10102 --'259 a "3,628.69 542.30130- 55100 SIGN HERE SIGN HERE REVENUE DEPARTMENT SUPERVISOR WRENDITURE • EPAR T SUPERVISOR AGENDA BILL sa BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS SUBJECT: Minutes of Meeting — BOARD MEETING Date: May 21, 2014 February 5, 2014 _ Presenter: TBD Board President Dino Davis Phone: (360) 473 -5280 SUMMARY: Attached are the Meeting Minutes of the Regular Meeting held on February 5, 2014 ATTACHMENTS: Regular Meeting Minutes FISCAL IMPACTS (Include Budgeted Amount): N/A RECOMMENDED MOTION: Move to approve the Consent Agenda as presented. AGENDA: x Consent Agenda ❑ Business ❑ Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Created 8/15/12 DIGITAL RECORDING BREMERTON TRANSPORTATION BENEFIT DISTRICT MEETING MINUTES Wednesday, February 5, 2014 A Regular Meeting for the Bremerton Transportation Benefit District (TBD) was called to order in the First Floor Meeting Chambers of the NORM DICKS GOVERNMENT CENTER, 345 6' Street, Bremerton, Washington, Wednesday, February 5, 2014, immediately following the Council Meeting at 6:56 PM, with the Vice - President of the TBD Board Leslie Daugs presiding. TBD Board Members present were Eric Younger, Roy Runyon, Dino Davis, Greg Wheeler, Jerry McDonald, and Mike Sullivan. Also present were City Attorney Roger Lubovich; City Clerk Shannon Corin; and Council Assistant Christine Grenier. B. ELECTION OF 2014 OFFICERS 06:56:32 Roy Runyon nominated Roy Runyon as TBD Board President. 06:57:06 Greg Wheeler nominated Dino Davis as TBD Board President. 06:57:17 Jerry McDonald nominated Mike Sullivan as TBD Board President. Voted for Runyon: Runyon (1 vote) Voted for Davis: Younger, Davis, Daugs, Wheeler (4 votes) Voted for Sullivan: McDonald, Sullivan (2 votes) Dino Davis was seated as TBD Board President. Nominations were then opened for TBD Board Vice - President. 07:00:17 Jerry McDonald nominated Mike Sullivan as TBD Board Vice - President. 07:00:40 Dino Davis nominated Leslie Daugs as TBD Board Vice - President. Voted for Sullivan: Younger, Runyon, McDonald, Sullivan, Wheeler (5 votes) Voted for Daugs: Davis, Daugs (2 votes) Mike Sullivan was seated as TBD Board Vice - President. C. CONSENT AGENDA 1. Minutes of Regular TBD Board Meeting — August 7, 2013 There were no comments from the public... 07:03:04 M /S /C /U (Daugs/Younger) Move to approve the Consent Agenda as presented. D. INFORMATION BRIEFINGS 2. Overview of TBD Statute; Ordinance; and Car Tab Fee Questions and comments were provided by TBD Board Member Daugs; with responses provided by Roger Lubovich City Attorney... 3. Presentation on Bremerton Street Condition; Available Funding; and the Role of the TBD Questions and comments were provided by TBD Board Members Wheeler, Daugs, Runyon, Davis, and Younger, with responses provided by Tom Knuckey City Engineer... Bremerton Transportation Benefit District Board Regular Meeting Minutes February 5, 2014 4. Overview of 2014 TBD Budget and Work Plan Tom Knuckev City Engineer, explained that the types of projects to be completed would include crack seal, hot - applied street markings, slurry seal, grind and patch, and improvements along Lower Wheaton Way. Questions and comments from the public were provided by Bob Dollar with responses provided by Chal Martin Public Works & Utilities Director and Mr. Knuckev Questions and comments were provided by TBD Board Members Runyon, Daugs, Younger, and McDonald, with responses provided by Mr. Martin and Mr. Knuckev PUBLIC HEARINGS E5 — RESOLUTION NO. 010 AUTHORIZING STREET IMPROVEMENT PROJECTS FOR 2014 Tom Knuckev City Engineer, stated that the attached resolution adopts the proposed 2014 Work Plan for the Bremerton Transportation Benefit District Board (TBD). The work plan will expend $750,000 from revenue received from Jhe vehicle license fee adopted by the TBD per Resolution No. 005 which was approved in December 2011. TBD Board President Davis opened the public hearing to receive comments from the public... Comments from the public were provided by Jim McDonald and Robert Parker With no further comments provided, the hearing was closed to the public, and opened to the TBD Board... 07:44:25 Motion was made by Younger and seconded by Sullivan; Comments and questions were provided by Younger, Daugs, and Runyon; with responses provided by Mr. Knuckev 07:46:54 Point of Order was called by Younger due to discussion not germane to the subject. President Davis ruled the Point of Order sustained, because City funds are not under the TBD Board's authority. The ruling was sustained by a raised hand vote. 07:50:05 M /S /C (Younger /Sullivan) Move to adopt Resolution No. 010 authorizing street maintenance projects for 2014. Voted in Favor of Motion: Daugs, McDonald, Wheeler, Younger, Sullivan, Davis Voted Opposed to Motion: Runyon Motion carried: 6 -Yes; 1 -No E6 — ORDINANCE NO. 004 AMENDING ORDINANCE NO. 003 RELATING TO THE TBD — FY2014 BUDGET Tom Knuckev City Engineer, and Cathy Johnson Interim Financial Services Director, explained that the 2013 approved work plan anticipated the expenditure of $300,000 by City crews to complete crack sealing of City streets. Competing priorities for the City street crew allowed the completion of approximately $53,000 of this work, resulting in a carryover of available maintenance funding into fiscal year 2014. These numbers were not available at the time of the 2014 TBD budget adopting in August 2013. The proposed ordinance amends the 2014 budget to acknowledge this carryover and proposed change to the work plan to utilize this money during 2014. TBD Board President Davis opened the public hearing to receive comments from the public... Bremerton Transportation Benefit District Board Regular Meeting Minutes February 5, 2014 With no comments provided, the hearing was closed to the public, and opened to the TBD Board... 07:51:35 Motion was made by Younger and seconded by Wheeler, Comments and questions were provided by Younger, and Daugs; with responses provided by Mr. Knuckey and Ms. Johnson 07:54:45 M /S /C (Younger/Wheeler) Move to approve Ordinance No. 004 of the Bremerton Transportation Benefit District Board amending Ordinance No. 003 relating the budget for the Bremerton Transportation Benefit District for the Fiscal Year 2014. Voted in Favor of Motion: McDonald, Wheeler, Sullivan, Davis Voted Opposed to Motion: Runyon, Daugs Motion carried: 5 -Yes; 2 -No GENERAL BUSINESS TBD Member Daugs looked forward to the discussion on the sunset provision with Council. TBD Board President Davis announced that the next Regular Meeting of the TBD Board will be held on August 6, 2014. With no further business, TBD Board President Davis adjourned the meeting at 7:55 PM. Prepared and Submitted by: CHRISTINE GRENIER, Council Assistant Attest: SHANNON CORIN, City Clerk DINO DAVIS, TBD Board President DD:SC:ls:cg C 5 AGENDA BILL BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS SUBJECT: Update: 2014 Work Plan BOARD MEETING Date: May 21, 2014 City Department: Public Works Presenter: Martin Phone: 5758 SUMMARY: The purpose of this presentation is to update the Board about the 2014 work plan. ATTACHMENTS: 1) Pavement Preservation; 2) Preliminary Costs; 3) TBD 2014 Work Plan FISCAL IMPACTS (Include Budgeted Amount): RECOMMENDED MOTION: None. Information only. AGENDA: C Consent Agenda PF Business r Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ® No Action Form Updated 3/12/13 5/21/2014 Trans Bremerton U 2014 Work Plan :: i l9oms edifd 3 F D4S[dete#iiiii . ... ... ... ::: „ ... ............ ... ... ... .............................. ....... . aatii:#al pg.i: ij:;..p;igoa. ?.i..� iae isy:;:r;:: . ?;: A. .........diem ......vou ,i.? foe�tia xo ::: me d.... r aa. ...d by ani i :p. Y 5Y5aS8 a#iud bcXxXtiRm"i' ;; ': . ......... ... ...:c: ° ::i::::g ..d.teN: chi; M . ::r�gtwsrr�ttafo }a�:. :i : g;a':; : ;: :;'Y.'}vt • t4A5'.5 14' kt+Y AIFY: .... ... :. ": ",':`. ": ":. ".':: ": ;.:: ".:.".. ". ^,", . .'i t �d'lPl # i ki"i •}d;': i; ,:.'.: ". i.. i''':''': ... :.. ".7...i.•.;.�.:.... A .:, .. •:": �itM�4��4 154�M1�1��?.i: :F :F.':.'.:. ��F: �; �. i. �. �. �. �.�.i.�.7L:iF;��.�i�.:.�.�,�.:. :. :'`•:::.`•.::r;. i;;.'•: t;;: "::::i`:::`•ch:i:'•:;� :•;•:•'•':• 'i c :E4if?^9 N!°l ! i ' i^ ^ u aEsaoo6o :g:'a.....:. :i.:g:... . 2014 Teo Work Plan Activity Allocation Method S. Street maintenance crack scaling $75,000 (in- house) 2 Hot.apphe.d street markings $50,11011 (contract, supplemented with Street Fund) 3 Slurry oral pilot program $75,0010 (contract) 4 large Area Grind and Patch $300,000 ($25k in- house, balance contract) • Manne Drive, K� ap Way to Rocky Pomt • Per Avenue, F 11'" to mouth of 17th rrenton. Cascade Trail to Holman S. Lower Wheaton Way 250000 (contract) Budget Target $750,000 1 5/21/2014 e p1 ii i' #��:; .... �;� ,., ; , •' ` ....-..- 3014 PAVEMENT PRESERVATION PROJECT CHIP SFAL OVEIaAY Street Street low ._ .. . - Perry 1116,081 E 13rd 6,167 Trenton 73,751' :Ellnd 14,772' _ :Marine 0rme 61' 8 • Vandaua 4,7M - - 249,694 - NipTli, North 78,058 Ca- de Trail 21,583 _ ierta[e 17,SJ9. E18th _lz9so Total 382,708 'E17th 10,891. :wn,Ide: :C 161h 6,356 losao :NIpyC.South 90 137,014 2 ow low �f QL- �. •� _ - . c ti y; � - •6d LD INS CITY OF BREMERTON DEPARTMENT OF PARKS AND �„ • ��—�j a -- ! . wr � -:�` ' � n •. a '� ' � r - - • . � ti � _ � � n - � �, `. ' ter-- � .' - _,_``- - - - - - -- -- -� Y�., -- ..T - - - _ •, W Pa ramet rix RECREATION PAVEMENT PRESERVATION PRO Qr w o v f?;�ra metrix ® OF • PRESERVATI • DEPARTMENT OF PARKS AND RECREATION ^- _ �; an ! e L� �— ' e• i - i i, L t �— mom REVISIONS CITY OF BREMERTON CE9NkP=N fff DEPARTMENT OF PARKS AND RECREATION PAVEMENT PRESERVATION PROJECT W r Para m =.�nx F r 1T - V fi r - - 1 . ___ - _ i s�• _ rl i. I ,I T _ . _ �• I _ _ _ •�.. _ -� a STJJI lt7 • ' • f , � , , •• I r _ - rte f � _�'. { e q -N M. ma !:�" .,� —..q •, __ ,� - ,�- _ -_- {- _. Qom_ - �+ _ ��- rarainerriK O • PRESERVATI DEPARTMENT OF PARKS AND RECREATION PAVEMENT PRO JECT '�. Via• � - - -- IN— a ,�,> E � ParnmMnx • ® O _ • PRESERVATI PRO JECT . �, \. � i.: � ;�•, "gyp �� V MARME DRIVE 'k - 41 i W PLAN SWE IN FPET q o so roo 5 n ! J j k $ W- i �./ Z T. .t �� MAN r t I SGIE q 0 901 0 Q CITY OF BREMERTON C6 REVISIONS rtn� aooN Na °°°°°'o" Dm or DEPARTMENT OF PARKS AND RECREATION PAVEMENT PRESERVATION PROJECT T rvn•exu•T nx�euue srmr ruE•coaoawiT MARINE DRIVE X PGMO M0. OIWM 6M: C BRVM OfmC71 ft. 6 ONtI/M CXICRm R x OF C , WA vert M wa[ 4 SWIL P.c MW4 WE wa Pi. / WE E X 2014 PAVEMENT PRESERVATION PROJECT CHIP SEAL Width Length Area Repair Repair Chip Seal Street (ft) (ft) (sy) (sy) say 1% ($50 /sy) ($4.50 /sy) Total E 23rd 37 300 1233 12 $617 $ 5,550 $6,167 E 22nd 40 640 2844 28 $1,422 $ 12,800 $14,222 Vandalia 28 305 949 9 $474 $ 4,270 $4,744 Nipsic North 37 1365 5612 56 $2,806 $ 25,253 $28,058 Cascade Trail 30 1295 4317 43 $2,158 $ 19,425 $21,583 Terrace 37 610 2508 25 $1,254 $ 11,285 $12,539 E18th 37 630 2590 26 $1,295 $ 11,655 $12,950 E17th 37 530 2179 22 $1,089 $ 9,805 $10,894 E 16th 22 520 1271 13 $636 $ 5,720 $6,356 Ironsides 30 630 2100 21 $1,050 $ 9,450 $10,500 Nipsic South 30 540 1800 18 $900 $ 8,100 $9,000 Total 27,403 274 $13,701 $ 123,313 $ 137,014 OVERLAY Adjust Width Length Area Planing Planing Striping 2 In. HMA 2 In. HMA Ramps Rim Street (ft) (ft) (sy) (sy) ($5 /sy) ($7,500 /mi) (tons) ($100 /ton) ($2,000 ea) ($400 ea) Total Perry 24 1650 4400 4,400 $22,000 $ 2,344 489 $ 48,938 $ 28,000 $4,800 $106,081 Trenton 38 1080 4560 1,260 $6,300 $ 1,534 507 $ 50,717 $ 12,000 $3,200 $73,751 Marine Drive 30 1620 5400 1,740 $8,700 $ 2,301 601 $ 60,060 $ - $4,800 $75,861 Total 14,360 7,400 $37,000 $ 6,179 1,597 $ 159,715 $ 40,000 $12,800 $255,694 Note: Prices based on vendors quotes or recent bids. Exhibit A to the Bremerton Transportation Benefit District 2014 Work Plan Authorizing Resolution Proposed 2014 TBD Work Plan: Activity Allocation Method 1. Street maintenance crack sealing $75,000 (in- house) 2. Hot - applied street markings $50,000 (contract; supplemented with Street Fund) 3. Slurry seal pilot program $75,000 — $150,000 (contract) 4. Large Area Grind and Patch $300,000 - $525,000 ($25k in- house; balance contract) Candidates: • Austin Drive • E. 11` Perry — Trenton • 11 Street, Adele to Wilbert • Marine Drive (limits ?) • Perry Avenue (limits ?) • E 18` Lower Wheaton Way — Perry • Winfield, Lower Wheaton Way — E. 18` • Sheridan, Lebo — Perry • Pine Road, Sheridan to City Limits • Trenton — (limits ?) 5. Lower Wheaton Way $0 - $250,000 (contract) Budget Target $750,000 AGENDA BILL D4 BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS ■ oeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeseeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee1 SUBJECT: Resolution No. 011 authorizing BOARD MEETING Date: May 21, 2014 Investment of TBD monies in the Local City Department: Financial Services Government Investment Pool Presenter: Cathy Johnson Phone: 473 -5296 SUMMARY: Chapter 294, Laws of 1986 authorize public funds by governmental entities to be invested in the Local Government Investment Pool ( "LGIP "). In order to provide more clarity with respect to how the Local Government Investment Pool operates, and as a result of recently amended WACS, a prospectus has been created and distributed to all investors in the LGIP. The City has been requested to provide an updated resolution referencing these changes. ATTACHMENTS: Resolution No. 011 Exhibit A —Local Government Investment Pool Transaction Authorization Form Local Government Investment Pool Prospectus dated January 2014 FISCAL IMPACTS (Include Budgeted Amount): None RECOMMENDED MOTION: Move to adopt Resolution No. 011 authorizing investment of TBD monies in the Local Government Investment Pool. AGENDA: Consent Agenda W Business Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 3/12/13 RESOLUTION NO. 011 A RESOLUTION of the Board of the Bremerton Transportation Benefit District authorizing investment of District monies in the Local Government Investment Pool. WHEREAS, pursuant to Chapter 294, Laws of 1986, the Legislature created a trust fund to be known as the public funds investment account (commonly referred to as the Local Government Investment Pool ( "LGIP ") for the contribution and withdrawal of money by an authorized governmental entity for purposes of investment by the State Treasurer; and WHEREAS, from time to time it may be advantageous to the authorized governmental entity, the Bremerton Transportation Benefit District ( "TBD "), to contribute funds available for investment in the LGIP; and WHEREAS, the TBD passed Resolution No. 007 authorizing the contribution and withdrawal of District monies in the LGIP and the TBD Board now desires to update its authorization by passage of a new resolution, and WHEREAS, the investment strategy for the LGIP is set forth in its policies and procedures; and WHEREAS, any contribution or withdrawals to or from the LGIP made on behalf of the TBD shall be first duly authorized by the governing body of the Bremerton Transportation Benefit District, the "TBD Board ", in this resolution or a subsequent resolution, and a certified copy of said resolution shall be filed with the State Treasurer's Office; and . WHEREAS, the TBD Board and any designee appointed by the Board with authority to contribute or withdraw funds of the governmental entity has received and read a copy of the prospectus and understands the risks and limitations of investing in the LGIP; and WHEREAS, the TBD Board attests by the signature of the President of the TBD Board on this resolution that it is duly authorized and empowered to enter into this agreement, to contribute or withdraw funds of the TBD, and to delegate certain authority to make adjustments to the incorporated transactional forms, to the individuals designated herein. THE BOARD OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. Resolution No. 007 is hereby repealed. SECTION 2. The TBD Board does hereby authorize the contribution and withdrawal of TBD monies in the LGIP in the manner prescribed by law, rule, and prospectus. SECTION 3. That the TBD Board has approved the Local Government Investment Pool Transaction Authorization Form ( "Form ") as substantially completed by the City Treasurer, Catherine A. Johnson, attached hereto as Exhibit A and incorporated herein by this 1 LGIP — Authorizing Investment reference, and does hereby attest to its accuracy. SECTION 4. That the City designates Catherine A. Johnson, the seated Treasurer of the TBD as the "Authorized Individual" to authorize all amendments, changes, or alterations to the Form or any other documentation including designating other individuals to make contributions and withdrawals on behalf of the City. SECTION 5. That this delegation ends upon the termination of the authorized individual's relationship with the City or further action by the TBD Board terminating the delegation, in which case, the Board will notify the State Treasurer's Office immediately upon the replacement of the Treasurer of the TBD which replacement shall than serve as the Authorized Individual. SECTION 6. That the Form as incorporated into this resolution or hereafter amended by delegated authority, or any other documentation signed or otherwise approved by the authorized individual shall remain in effect should the authorized individual's authority be terminated or otherwise end, except to the extent that the authorized individual whose delegation has been terminated shall not be permitted to make further withdrawals or contributions to the LGIP on behalf of the TBD. No amendments, changes, or alterations shall be made to the Form or any other documentation until the Treasurer of the TBD is replaced who shall then serve as the new Authorized Individual. SECTION 7. That the TBD Board acknowledges that it has received, read, and understood the prospectus as provided by the Office of the State Treasurer. In addition, the Board agrees that a copy of the prospectus will be provided to any person delegated or otherwise authorized to make contributions or withdrawals into or out of the LGIP and that said individuals will be required to read the prospectus prior to making any withdrawals or contributions or any further withdrawals or contributions if authorizations are already in place. SECTION 8. SeverabiliU. If any one or more sections, subsections, or sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this Resolution and the same shall remain in full force and effect. SECTION 9. Effective Date. This Resolution shall take effect and be in force immediately upon its passage. PASSED by the Board of the Bremerton Transportation Benefit District this day of , 2014. DINO DAVIS, Board President APPROVED AS TO FORM: ATTEST: ROGER A. LUBOVICH, City Attorney SHANNON L. CORIN,.City Clerk R: \L,egal \Legal \Resolutions \Finance\LGIP Investment Authorization.docx 2 LGIP — Authorizing Investment Exhibit A LOCAL GOVERNMENT INVESTMENT POOL TRANSACTION AUTHORIZATION FORM Please till out this form completely, including any existing information, as this form will rc lace the previous form. Name of Entity: Bremerton Transportation Benefit Mailing Address: District Fax Number: 360- 473 -5200 345 6 1h Street Suite 600 E -mail Contact: cjohnson @ci.bremerton.wa.us Bremerton, WA 98337 Do you wish to have your monthly LGIP statements fazed to the number listed above? Please note — if you choose to receive statements via fax, you will not receive another copy via U.S. mail. 0 YES, please fax statements 0 No, please send statements via U.S. mail Bank account where funds will be wired when a withdrawal is requested. (Note: Funds will not be transferred to any account other than that listed). Bank Name: Bank of America Branch Location: CASC Seattle Bank Routing Number: 026009593 Account Number: Account Name: City of Bremerton General Account Persons authorized to make deposits and withdrawals for the entity listed above. Name Title Signature Telephone Number Catherine A Johnson Director of Financial 360 -473 -5296 Services Judith L Carlson Accounting Assistant 360473 -5208 Senior I I F7 By signature below, I certify I am authorized to represent the institution/agrency for the purpose of this transaction. Interim Director of Financial Services Awtbo Si nmure de Date Catherine A Johnson ciohnson&Lbremertonma us 360- 473 -5296 Prtnt Awthonked Signature) E -malt Address el hone number Any changes to these instructions must be submitted in writing to the Office of the State Treasurer. Please mail this form to the address listed below: . OFFICE OF THE STATE TREASURER Date Received: LOCAL GOVERNMENT INVESTMENT POOL Fund Number: PO Box 40200 (for LGLP use only) OLYMPIA, WA 98504 -0200 FAX: (360) 902 -9044 State of Washington ) County of ) ss Signed or attested before me by Dated this Y day of , 20_. Signature of Notary SEAL OR STAMP Typed or printed name of Notary Notary Public in and for the State of Wash. LOCAL GOVERNMENT INVESTMENT POOL Prospectus January 2014 ��¢ER 0�.�?, �SNING James L. McIntire Washington State Treasurer Contents I. The LGIP 3 -4 II. Local Government Investment Pool — Money Market Fund 4 -9 III. Management 9 IV. Miscellaneous 9 -10 2 I. The LGIP The Local Government Investment Pool (the "LGIP ") is an investment pool of public funds placed in the custody of the Office of the Washington State Treasurer (the "State Treasurer ") for investment and reinvestment as defined by RCW 43.250.020. The purpose of the LGIP is to allow eligible governmental entities to participate with the state in the investment of surplus public funds, in a manner that optimizes liquidity and return on such funds. In establishing the LGIP, the legislature recognized that not all eligible governmental entities are able to maximize the return on their temporary surplus funds, and therefore it provided a mechanism whereby they may, at their option, utilize the resources of the State Treasurer to maximize the potential of their surplus funds while ensuring the liquidity of those funds. The State Treasurer has established a sub -pool within the LGIP whose shares are offered by means of this Prospectus: The LGIP -Money Market Fund (the "LGIP -MMF" or the "Fund "). The State Treasurer has the authority to establish additional sub -pools in the future. The Fund offered in this Prospectus seeks to provide current income by investing in high - quality, short term money market instruments. These standards are specific to the Fund, as illustrated in the following table. The LGIP -MMF offers daily contributions and withdrawals. FUND SNAPSHOT The table below provides a summary comparison of the Fund's investment types and sensitivity to interest rate risk. This current snapshot can be expected to vary over time. Fund Investment Types Maximum D. Average Maturity for LGIP-MMF LGIP -Money Market Fund Cash 60 days Current Investments (as of November Bank Deposits 1, 2013) US Treasury bills Repurchase agreements US Government agency obligations Fees and Expenses Administrative Fee. The State Treasurer charges pool participants a fee representing administration and recovery costs associated with the operation of the Fund. The administrative fee accrues daily from pool participants' earnings prior to the earnings being posted to their account. The administrative fee will be paid monthly. In the event that there are no earnings, the administrative fee will be deducted from principal. The chart below illustrates the operating expenses of the LGIP -MMF for past years, expressed in basis points as a percentage of fund assets. 3 Local Government Investment Pool -MMF Operating Expenses by Fiscal Year (in Basis Points) 2006 2007 20 2009 2010 2011 2 2013 Total Operating Expenses 1.11 0.96 0.84 0.88 0.64 0.81 0.68 0.87 (1 basis point = 0 01 %) Because most of the expenses of the LGIP -MMF are fixed costs, the fee (expressed as a percentage of fund assets) will be affected by: (i) the amount of operating expenses; and (ii) the assets of the LGIP -MMF. The table below shows how the fee (expressed as a percentage of fund assets) would change as the fund assets change, assuming an annual fund operating expenses amount of $800,000. Fund Assets $6.0 bn $8.0 bn $10.0 bn Total Operating Expenses (in Basis Points) 1.33 1.0 .80 Portfolio Turnover: The Fund does not pay a commission or fee when it buys or sells securities (or "turns over" its portfolio). However, debt securities often trade with a bid /ask spread. Consequently, a higher portfolio turnover rate may generate higher transaction costs that could affect the Fund's performance. II. Local Government Investment Pool - Money Market Fund Investment Objective The LGIP -MMF will seek to effectively maximize the yield while maintaining liquidity and a stable share price of $1. Principal Investment Strategies The LGIP -MMF will seek to invest primarily in high - quality, short term money market instruments. Typically, at least 55% of the Fund's assets will be invested in US government securities and repurchase agreements collateralized by those securities. The LGIP -MMF means a sub -pool of the LGIP whose investments will primarily be money market instruments. The LGIP -MMF will only invest in eligible investments permitted by state law. The LGIP -MMF will not be an SEC - registered money market fund and will not be required to follow SEC Rule 2a -7. Investments of the LGIP -MMF will conform to the LGIP Investment Policy, the most recent version of which will be posted on the LGIP website and will be available upon request. Principal Risks of Investing in the LGIP -Money Market Fund Counterparty Credit Risk. A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies. Interest Rate Risk. The LGIP -MMF's income may decline when interest rates fall. Because the Fund's income is based on short -term interest rates, which can fluctuate significantly over short periods, income risk is expected to be high. In addition, interest rate increases can cause the price of a debt security to decrease and even lead to a loss of principal. 4 Liquidity Risk. Liquidity risk is the risk that the Fund will experience significant net withdrawals of Fund shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss. Management Risk. Poor security selection or an ineffective investment strategy could cause the LGIP -MMF to underperform relevant benchmarks or other funds with a similar investment objective. Issuer Risk. The LGIP -MMF is subject to the risk that debt issuers and other counterparties may not honor their obligations. Changes in an issuer's credit rating (e.g., a rating downgrade) or the market's perception of an issuer's creditworthiness could also affect the value of the Fund's investment in that issuer. The degree of credit risk depends on both the financial condition of the issuer and the terms of the obligation. Also, a decline in the credit quality of an issuer can cause the price of a money market security to decrease. Securities Lending Risk and Reverse Repurchase Agreement Risk. The LGIP -MMF may engage in securities lending or in reverse repurchase agreements. Securities lending and reverse repurchase agreements involve the risk that the Fund may lose money because the borrower of the Fund's securities fails to return the securities in a timely manner or at all or the Fund's lending agent defaults on its obligations to indemnify the Fund, or such obligations prove unenforceable. The Fund could also lose money in the event of a decline in the value of the collateral provided for loaned securities or a decline in the value of any investments made with cash collateral. Risks Associated with use of Amortized Cost. The use of amortized cost valuation means that the LGIP -MMF's share price may vary from its market value NAV per share. In the unlikely event that the State Treasurer were to determine that the extent of the deviation between the Fund's amortized cost per share and its market -based NAV per share may result in material dilution or other unfair results to shareholders, the State Treasurer may cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results. An investment in the LGIP -MMF is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of investments at $1 per share, pool participants could lose money by investing in the LGIP -MMF. There is no assurance that the LGIP -MMF will achieve its investment objective. Performance The following information is intended to address the risks of investing in the LGIP -MMF. The information illustrates changes in the performance of the LGIP -MMF's shares from year to year. Returns are based on past results and are not an indication of future performance. Updated performance information may be obtained on our website at www.tre.wa.gov or by calling the LGIP toll -free at 800 - 331 -3284. 5 Fiscal Year -by -Year Returns: Net Yield Local Government Investment Pool 6.00% 5.21% 5.00% 4.14% 4.04% 4.00% 3.00% 2.13% 2.00% ° ° 1.05% 1.00% ° 0.22% 0.14% 0.17% 0.00% - 1.00% -2.00% - 3.00% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Local Government Investment Pool -Money Market Fund Average Accrued Net Yield 1 Year 3 years 5 years 10 years 0.17% 0.19% .52% 1.94% Transactions: LGIP -MMF General Information The minimum transaction size (contributions or withdrawals) for the LGIP -MMF will be five thousand dollars. The State Treasurer may, in its sole discretion, allow for transactions of less than five thousand dollars. Valuing Shares The LGIP -MMF will be operated using a net asset value (NAV) calculation based on the amortized cost of all securities held such that the securities will be valued at their acquisition cost, plus accrued income, amortized daily. The Fund's NAV will be the value of a single share. NAV will normally be calculated as of the close of business of the NYSE, usually 4:00 p.m. Eastern time. If the NYSE is closed on a particular day, the Fund will be priced on the next day the NYSE is open. 6 NAV will not be calculated and the Fund will not process contributions and withdrawals submitted on days when the Fund is not open for business. The time at which shares are priced and until which contributions and withdrawals are accepted is specified below and may be changed as permitted by the State Treasurer. To the extent that the LGIP -MMF's assets are traded in other markets on days when the Fund is not open for business, the value of the Fund's assets may be affected on those days. In addition, trading in some of the Fund's assets may not occur on days when the Fund is open for business. Transaction Limitation The State Treasurer reserves the right at its sole discretion to set a minimum and /or maximum transaction amount from the LGIP -MMF and to limit the number of transactions, whether contribution, withdrawal, or transfer permitted in a day or any other given period of time. The State Treasurer also reserves the right at its sole discretion to reject any proposed contribution, and in particular to reject any proposed contribution made by a pool participant engaged in behavior deemed by the State Treasurer to be abusive of the LGIP -MMF. A pool participant may transfer funds from one LGIP -MMF account to another subject to the same time and contribution limits as set forth in WAC 210.10.060. Contributions Pool participants may make contributions to the LGIP -MMF on any business day. All contributions will be effected by electronic funds transfer to the account of the LGIP -MMF designated by the State Treasurer. It is the responsibility of each pool participant to pay any bank charges associated with such electronic transfers to the State Treasurer. Failure to wire funds by a pool participant after notification to the State Treasurer of an intended transfer will result in penalties. Penalties for failure to timely wire will be assessed to the account of the pool participant responsible. Notice. To ensure same day credit, a pool participant must inform the State Treasurer of any contribution over one million dollars no later than 9 a.m. on the same day the contribution is made. Contributions for one million dollars or less can be requested at any time prior to 10 a.m. on the day of contribution. For all other contributions over one million dollars that are requested prior to 10 a.m., a pool participant may receive same day credit at the sole discretion of the State Treasurer. Contributions that receive same day credit will count, for earnings rate purposes, as of the day in which the contribution was made. Contributions for which no notice is received prior to 10:00 a.m. will be credited as of the following business day. Notice of contributions may be given by calling the Local Government Investment Pool (800- 331 -3284) OR by logging on to State Treasurer's Treasury Management System ( "TMS "). Please refer to the LGIP -MMF Operations Manual for specific instructions regarding contributions to the LGIP -MMF. Direct deposits from the State of Washington will be credited on the same business day. Pricing. Contribution requests received in good order will receive the NAV per unit of the LGIP -MMF next determined after the order is accepted by the State Treasurer on that contribution date. Withdrawals Pool participants may withdraw funds from the LGIP -MMF on any business day. Each pool participant shall file with the State Treasurer a letter designating the financial institution at which funds withdrawn from the LGIP -MMF shall be deposited (the "Letter "). This Letter shall contain the name of the financial institution, the location of the financial institution, the account name, and the account number to which funds will be deposited. This Letter shall be signed by local officials authorized to receive and disburse funds, as described in WAC 210 -10 -020. 7 Disbursements from the LGIP -MMF will be effected by electronic funds transfer. Failure by the State Treasurer to wire funds to a pool participant after proper notification to the State Treasurer to disburse funds to a pool participant may result in a bank overdraft in the pool participant's bank account. The State Treasurer will reimburse a pool participant for such bank overdraft penalties charged to the pool participant's bank account. Notice. In order to withdraw funds from the LGIP -MMF, a pool participant must notify the State Treasurer of any withdrawal over one million dollars no later than 9 a.m. on the same day the withdrawal is made. Withdrawals for one million dollars or less can be requested at any time prior to 10 a.m. on the day of withdrawal. For all other withdrawals from the LGIP -MMF over one million dollars that are requested prior to 10 a.m., a pool participant may receive such withdrawal on the same day it is requested at the sole discretion of the State Treasurer. No earnings will be credited on the date of withdrawal for the amounts withdrawn. Notice of withdrawals may be given by calling the Local Government Investment Pool (800- 331 -3284) OR by logging on to TMS. Please refer to the LGIP -MMF Operations Manual for specific instructions regarding withdrawals from the Fund. Pricing. Withdrawal requests with respect to the LGIP -MMF received in good order will receive the NAV per unit of the LGIP -MMF next determined after the order is accepted by the State Treasurer on that withdrawal date. Suspension of Withdrawals. If the State Treasurer has determined that the deviation between the Fund's amortized cost price per share and the current net asset value per share calculated using available market quotations (or an appropriate substitute that reflects current market conditions) may result in material dilution or other unfair results, the State Treasurer may, if it has determined irrevocably to liquidate the Fund, suspend withdrawals and payments of withdrawal proceeds in order to facilitate the permanent termination of the Fund in an orderly manner. The State Treasurer will distribute proceeds in liquidation as soon as practicable, subject to the possibility that certain assets may be illiquid, and subject to subsequent distribution, and the possibility that the State Treasurer may need to hold back a reserve to pay expenses. The State Treasurer also may suspend redemptions if the New York Stock Exchange suspends trading or closes, if US bond markets are closed, or if the Securities and Exchange Commission declares an emergency. If any of these events were to occur, it would likely result in a delay in the pool participants' redemption proceeds. The State Treasurer will notify pool participants within five business days of making a determination to suspend withdrawals and /or irrevocably liquidate the fund and the reason for such action. Earnings and Distribution LGIP -MMF Daily Factor The LGIP -MMF daily factor is a net earnings figure that is calculated daily using the investment income earned (excluding realized gains or losses) each day, assuming daily amortization and /or accretion of income of all fixed income securities held by the Fund, less the administrative fee. The daily factor is reported on an annualized 7 -day basis, using the daily factors from the previous 7 calendar days. The reporting of a 7 -day annualized yield based solely on investment income which excludes realized gains or losses is an industry standard practice that allows for the fair comparison of funds that seek to maintain a constant NAV of $1.00. LGIP -MMF Actual Yield Factor The LGIP -MMF actual yield factor is a net daily earnings figure that is calculated using the total net earnings including realized gains and losses occurring each day, less the administrative fee. 8 Dividends The LGIP -MMF's dividends include any net realized capital gains or losses, as well as any other capital changes other than investment income, and are declared daily and distributed monthly. Distribution The total net earnings of the LGIP -MMF will be declared daily and paid monthly to each pool participant's account in which the income was earned on a per -share basis. These funds will remain in the pool and earn additional interest unless withdrawn and sent to the pool participant's designated bank account as specified on the Authorization Form. Interest earned will be distributed monthly on the first business day of the following month. Monthly Statements and Reporting On the first business day of every calendar month, each pool participant will be sent a monthly statement which includes the pool participant's beginning balance, contributions, withdrawals, transfers, administrative charges, earnings rate, earnings, and ending balance for the preceding calendar month. Also included with the statement will be the monthly enclosure. This report will contain information regarding the maturity structure of the portfolio and balances broken down by security type. III. Management The State Treasurer is the manager of the LGIP -MMF and has overall responsibility for the general management and administration of the Fund. The State Treasurer has the authority to offer additional sub -pools within the LGIP at such times as the State Treasurer deems appropriate in its sole discretion. Administrator and Transfer Agent. The State Treasurer will serve as the administrator and transfer agent for the Fund. Custodian. A custodian for the Fund will be appointed in accordance with the terms of the LGIP Investment Policy. IV. Miscellaneous Limitation of Liability All persons extending credit to, contracting with or having any claim against the Fund offered in this Prospectus shall look only to the assets of the Fund that such person extended credit to, contracted with or has a claim against, and none of (i) the State Treasurer, (ii) any subsequent sub -pool, (iii) any pool participant, tivj the LGIP, or (v) the State Treasurer's officers, employees or agents (whether past, present or future), shall be liable therefor. The determination of the State Treasurer that assets, debts, liabilities, obligations, or expenses are allocable to the Fund shall be binding on all pool participants and on any person extending credit to or contracting with or having any claim against the LGIP or the Fund offered in this Prospectus. There is a remote risk that a court may not enforce these limitation of liability provisions. 9 Amendments This Prospectus and the attached Investment Policy may be amended from time to time. Pool participants shall receive notice of changes to the Prospectus and the Investment Policy. The amended and restated documents will be posted on the State Treasurer website: www.tre.wa.gov Should the State Treasurer deem appropriate to offer additional sub -pools within the LGIP, said sub -pools will be offered by means of an amendment to this prospectus. LGIP -MMF Contact Information Internet: www.tre.wa.gov Treasury Management System/TMS Phone: 1- 800 - 331 -3284 (within Washington State) Mail: Office of the State Treasurer Local Government Investment Pool PO Box 40200 Olympia, Washington 98504 FAX: 360 - 902 -9044 10 AGENDA BILL BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS ■■ �e��sv0NMEff000EE0a0MM0000000000000000NEE0Ma00000NE0000N000N00E0E0ENNaMEE0M0001 SUBJECT: Resolution No. 012 adopting the BOARD MEETING Date: May 21, 2014 Bremerton Transportation Benefit District City Department: City Attorney's Office Material Change Policy Presenter: Roger A. Lubovich Phone: 473 -2345 SUMMARY: RCW 36.73.160 requires the Transportation Benefit District to adopt a material change policy to address major plan changes that affect project delivery or the ability to finance the plan, and address material changes to cost, scope, and schedule; the level of change that will require governing body involvement; and how the governing body will address those changes. ATTACHMENTS: Resolution No. 012 FISCAL IMPACTS (Include Budgeted Amount): None RECOMMENDED MOTION: Move to approve Resolution No. 012 adopting the Bremerton Transportation Benefit District Material Change Policy. 1__ Consent Agenda i�OF Business =J Public Hearing AGENDA: BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 3/12/13 RESOLUTION NO. 012 A RESOLUTION of the governing Board of the Bremerton Transportation Benefit District approving a material change policy. WHEREAS, Chapter 36.73 RCW and RCW 35.21.255 authorize the City of Bremerton to establish a Transportation Benefit District within the City jurisdiction for the purpose of acquiring, constructing, improving, providing, and funding transportation improvements within the district that are consistent with existing state, regional, and local transportation plans and necessitated by existing or reasonably foreseeable congestion levels; and WHEREAS, the City Council of the City of Bremerton found it to be in the best interests of the City to establish a citywide Transportation Benefit District consistent with Chapter 36.73 RCW, to protect the City's long term investments in that infrastructure, to reduce the risk of transportation facility failures and improve safety, to continue optimal performance of the infrastructure over time, and to avoid more expensive infrastructure replacements in the future; and WHEREAS, by passage of Ordinance No. 5076, the City Council of the City of Bremerton established the Bremerton Transportation Benefit District ( "TBD ") as authorized by RCW 35.21.225 and subject to the provisions of Chapter 36.73 RCW; and WHEREAS, RCW 36.73.160 requires the Transportation Benefit District to adopt a material change policy to address major plan changes that affect project delivery or the ability to finance the plan, and address material changes to cost, scope, and schedule; the level of change that will require governing body involvement; and how the governing body will address those changes. NOW THEREFORE, THE BOARD OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. Material Change to Cost. In the event an approved transportation improvement project exceeds its original cost by more than twenty percent (20 %), the TBD Board shall hold a public hearing to solicit comments from the public regarding how the cost change should be resolved. TBD authorized staff shall consult with the Board President to inform him or her of the cost overruns for purposes of scheduling a public hearing. SECTION 2. Material Change to Scope. In the event the scope of a transportation improvement project materially changes from that originally anticipated at project approval, TBD authorized staff shall consult with and review the changes with the Board President. The Board President shall determine whether or not to convene a meeting of the Board for discussion. 1 TBD Resolution No. 012 (2014) SECTION 3. Material Change to Schedule. In the event that the schedule of a transportation improvement project materially changes in a way that significantly impacts other TBD projects or funding, or schedule changes exceed ninety (90) days, TBD authorized staff shall consult with and review such changes with the Board President. The Board President shall determine whether or not to convene a meeting of the Board for discussion. SECTION 4. Severability. If any one or more sections, subsections, or sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this Resolution and the same shall remain in full force and effect. SECTION 5. Effective Date. This Resolution shall take effect and be in force immediately upon its passage.' PASSED by the Transportation Benefit District of the City of Bremerton, Washington this day of , 2014. Dino Davis, Board President APPROVED AS TO FORM: ATTEST: ROGER A. LUBOVICH, Board Attorney Shannon Corin, Clerk R: \Legal \Legal \Files \Current Active Files \Transportation Benefit District\2014\Resolution material change policy - Final.docx 2 TBD Resolution No. 012 (2014) AGENDA BILL D/4 BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS SUBJECT: Resolution No. 013 amending BOARD MEETING Date: May 21 & July 16, 2014 the Charter of the Bremerton Transportation City Department: City Attorney's Office Benefit District Presenter: Roger A. Lubovich Phone: 360- 473 -2345 SUMMARY: The proposed resolution amends the Charter of the Bremerton Transportation Benefit District to remove language relating to mandatory disclaimers and make other related amendments. ATTACHMENTS: Proposed Resolution No. 013 and Exhibit A - Charter FISCAL IMPACTS (Include Budgeted Amount): none RECOMMENDED MOTION: May 21, 2014 — No action to be taken... July 16, 2014 — Move to approve Resolution No. 013 amending the Charter of the Bremerton Transportation Benefit District. AGENDA: r Consent Agenda r. Business r Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 3/12/13 RESOLUTION NO. 013 A RESOLUTION of the Board of the Bremerton Transportation Benefit District, approving amendments to the Charter of the Bremerton Transportation Benefit District. WHEREAS, the Board of the Bremerton Transportation Benefit District has approved a Charter setting forth the nature, powers, and obligations of the Bremerton Transportation Benefit District; and WHEREAS, the Board of the Bremerton Transportation Benefit District proposes to amend the Charter of the Bremerton Transportation Benefit District to remove language relating to mandatory disclaimers and to make other related amendments; NOW THEREFORE, THE BOARD OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Board hereby approves the proposed Charter of the Bremerton Transportation Benefit District as amended, as set forth in Exhibit "A ", attached hereto and incorporated by reference. SECTION 2. Severability. If any one or more sections, subsections, or sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this Resolution and the same shall remain in full force and effect. SECTION 3. Effective Date. This Resolution shall take effect and be in force immediately upon its passage. PASSED by the Board of the Bremerton Transportation Benefit District this day of ) 2014. By: Dino Davis, Board President APPROVED AS TO FORM: ATTEST: ROGER A. LUBOVICH, City Attorney SHANNON L. CORIN, City Clerk RALegal\Lcgal\Files \Current Active Files\Transportation Benefit District\2014\Resolution- Charter (2014 amendment).doc I Bremerton Transportation District Charter (2014 Amendment) EXHIBIT A CHARTER OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT TABLE OF CONTENTS Page ARTICLEI NAME ........................................................................ ..............................1 Section1.01 Name ............................................................................. ..............................1 ARTICLE II NATURE AND PURPOSES ..................................... ..............................1 1. Section 2.01 Nature of the District .................................................... ..............................1 Section2.02 Purposes ......................................................................... ..............................1 Section 2.03 Limitations on Liability ................................................ ..............................2 Seetien 2.04- MandatefBise ers ................................................. ..............................2 ARTICLE III DISSOLUTION ......................................................... ..............................2 Section3.01 Dissolution .................................................................... ..............................2 ARTICLE IV POWERS; INDEMNIFICATION ............................. ..............................3 Section4.01 Powers ............................................................................ ..............................3 Section 4.02 Indemnification .............................................................. ..............................3 ARTICLE V BOARD OF DIRECTORS EXECUTWE DM rnn AND OFFICERS 4 Section 5.01 Board Powers ................................................................. ..............................4 Section 5.02 Board Composition ........................................................ ..............................4 Section 5.03 Board Officers ................................................................ ..............................4 Section 5.04 Conflict of Interest ......................................... ..............................4 Section 5.05 Genfliet ef ha4eFestTreasurer ..... ............................... Section5.06 Attorney ......................................................................... ..............................4 ARTICLE VI MEETINGS ................................................................ ..............................5 Section6.01 Board Meetings .............................................................. ..............................5 Section 6.02 Board Quorum and Concurrence ................................... ..............................5 Section 6.03 Open Public Meetings .................................................... ..............................5 Section6.04 Minutes .......................................................................... ..............................5 Section 6.05 Material Change Policy and Annual Report .................. ..............................5 ARTICLE VII BYLAWS .................................................................... ..............................6 Section7.01 Bylaws ............................................................................ ..............................6 ARTICLE VIII AMENDMENT TO CHARTER ................................ ..............................6 Section 8.01 Proposals to Amend Charter .......................................... ..............................6 -i- Section 8.02 Board Consideration of Proposed Amendments ............ ..............................6 Section 8.03 Vote Required for Proposals to Amend the Charter ...... ..............................6 Section 8.04 Public Hearings ............................................................. ..............................6 ARTICLE IX COMMENCEMENT ................................................. .............................67 Section 9.01 Commencement ............................................................ .............................67 ARTICLE X MISCELLANEOUS ................................................... ..............................7 Section 10.01 Liberal Construction and Severability ........................ ..............................7 -ii- CHARTER OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT WHEREAS, the City Council (the "Council ") of the City of Bremerton, Washington (the "City") has determined that it is in the best interests of the City and its citizens to create a Transportation Benefit District coextensive with the boundaries of the City in order to exercise the powers available under Chapter 36.73 RCW (the "Statute "); and WHEREAS, pursuant to Ordinance No. 5076 of the City (the "Ordinance "), passed on February 4, 2009, the City authorized and approved the creation of a Transportation Benefit District, designated as the Bremerton Transportation Benefit District (the "District"), coe.k9ensive with the boundaries of the City, for the purpose of exercising certain powers available under the Statute as limited by the ordinance, codified as Chapter 11.25 of the Bremerton City Code; NOW, THEREFORE, this Charter is hereby granted to and approved by the District. ARTICLE I NAME Section 1.01 Name The name of the Transportation Benefit District shall be the "Bremerton Transportation Benefit District." ARTICLE II NATURE AND PURPOSES Section 2.01 Nature of the District The District shall be a Transportation Benefit District organized pursuant to Chapter 36.73, Ordinance No. 5076 and Chapter 11.25 BMC. The boundaries of the District shall be coextensive with the boundaries of the City. The District shall be a municipal corporation, an independent taxing "authority" within the meaning of Article VII, Section I of the Constitution of the State of Washington (the "Constitution "), and a "taxing district" within the meaning of Article VII, Section 2 of the Constitution. The District shall be an entity independent of and separate from the City. Section 2.02 Purposes The purpose of the District shall be to provide a separate legal entity pursuant to Statute and Ordinance to exercise the powers available under the Statute, to, but only to the extent authorized by the Ordinance. The primary purpose of the District shall be the acquisition, construction, improvement, provision and/or funding of the maintenance of City streets and related infrastructure in a manner which is: 2.02.01 Consistent with state, regional, and local transportation plans; 2.02.02 Necessitated by reasonably foreseeable congestion levels attributable to economic growth; and 2.02.03 Funded by local government or private developer contributions or any combination thereof. -1- Section 2.03 Limitations on Liability All debts, liabilities and other obligations incurred by the District ( "Obligations ") shall be satisfied: (a) in the case of Obligations which, by their terms, are not payable from a special or limited source of funds, exclusively from the revenues, assets and properties of the District, and (b) in the case of Obligations which, by their terms, are payable from a special or limited source of funds, exclusively from such revenues, assets and properties of the District as shall be specifically pledged thereto or otherwise identified as being the source of payment thereof. No creditor, claimant or other person shall have any right of action against or recourse to the City or its revenues, assets or properties on account of or with respect to any such Obligations, or otherwise on account of or with respect to any acts or omissions of the District or its officers, employees or agents. , , Washingten an th l aws e f th St o f W as hi ngen, i ne l u di ng, but met limited , d liabilities and revenue's- 0.ssets- and pr-e$ei4ies of the Di o rar- editer, el „t OF ether- per-son shall have any right ef aefien against er- meeufse te the City ef Br-efaeAefi the State of Washington, or- any ether- Pelifieal subdivision ef the State e Washington en ameunt of er- with r-espeet te— any -debts nether ARTICLE III DISSOLUTION Section 3.01 Dissolution Subject to the provisions of RCW 36.73.050 and BMC 11.25.050, the Transportation Benefit District shall be automatically dissolved when all indebtedness of the District has been retired and when all of the District's anticipated responsibilities have been satisfied. The r,.. hie sh all exist • n dissolved in e -lone° with the fe iFei lAnts efcEW 36 . 7 3.050 a nd BM 11 .25. The retirement of debt, - nefiee- ofdisselutien and payment ef er-editOFS shall all eemply with the pEevis-i-eas A- f dh- A- S% t a t 1 Ae. The Distr-iet shall be autematieally dissolved when all indebteMess of the Distfiet has been retired, and When all the Distfiet disselutiA ege a !nos- of RGW 36. BMG 11 25.050 set feA thatthe Distfiet shall autemafieally dissolve -si-x (6) ye fsftem the e€ €eetive date ef 0rdinanee 5076 -2- ARTICLE IV POWERS; INDEMNIFICATION Section 4.01 Powers Except as otherwise provided herein, the District shall have and may exercise all lawful powers conferred upon a Transportation Benefit District as of the date hereof by the laws of the State of Washington, limited as provided in the Ordinance. Such powers shall include, but are not limited to, the following: (a) To hire employees, staff, and services, to enter into contracts, to direct agents and services acquired pursuant to contract or interlocal agreement, and to sue and be sued. The Board may, by interlocal agreement with the City, or other authorized procedure, appoint, hire or retain City officials and staff to provide services for or on behalf of the District. his weri1Es eea#aet limits appheable te the City ef Br-efneAen shall apply te any eeH aet entered inte by the Distr-ic3t. — In the event that City staff axis utilized, the general fund of the City shall be reimbursed to, but only to the extent required by RCW 43.09.210. Public works contract procedures applicable to the City of Bremerton shall apply to any contract entered into by the District. The annual plan of the District shall provide estimates of all such charges and the final cost of all projects shall indicate such charges. (b) To authorize a vehicle tax of up to $20 per vehicle as provided for by RCW 82.80.140. (c) When -authorized by the voters pursuant to the requirements of Chapter 36.73 RCW to authorize other taxes, fees, charges and tolls or increases in these revenue sources, and to use such funds assessed for the preservation, maintenance and operation of City streets in accordance with the provisions of a state or regional plan. (d) The Board shall have and may exercise all powers and functions provided by the Statute to fulfill the functions of the District. (e) Additional powers and authorities may be conferred upon the District only in accordance with the requirements of the Statute following a public hearing and other procedural requirements as set forth in the Statute. (f) To issue its general obligation bonds and revenue bonds pursuant to the requirements of the Statute. Section 4.02 Indemnification To the extent permitted by law, the District shall protect, defend, hold harmless and indemnify any director, officer, employee or agent of the District who is a party or threatened to be made a party to a proceeding by reason related to that person's conduct as a director, officer, employee or agent of the District, against judgments, fines, penalties, settlements and reasonable expenses (including reasonable attorneys' fees) incurred by him or her in connection with such proceeding, if such person acted in good faith reasonably believed his or her conduct to be in the District's best interests and if, in the case of any criminal proceedings, he or she had no reasonable cause to believe that his or her conduct was unlawful. The indemnification and protection provided herein shall not be deemed exclusive of any other rights to which a person may be entitled as a matter of law, by City ordinance, or by contract or by vote of the Board of Directors. The District may purchase and maintain appropriate insurance covering such risks. -3- ARTICLE V BOARD OF DIRECTOR AND OFFICERS Section 5.01 Board Powers All powers of the District shall be exercised by or in the name of the Board of Directors (the `Board "). The powers of the Board shall include, but are not limited to, the following: (a) To establish and implement the policies and programs of the District, and the procedures for the management and administration of the District's affairs; (b) To appoint and remove, at the pleasure of the Board, the District's officers, agents and employees, (except as expressly provided herein) and to prescribe their respective powers and duties consistent with the provisions hereof; (c) To borrow money and incur indebtedness in accordance with the Statute; and (d) To provide for the investment of the District's funds. Section 5.02 Board Composition The Board shall be composed of the nine - seven (07 members of the Bremerton City Council, who shall serve in an ex- officio and independent capacity. A Board member may be removed only when removed from his or her office as a Council Member. Any vacancy shall be filled only by the appointment or election of a new City Council Member. Beginning Jafmmy 1 , 2014, the Reafd shall be eempesed ef seven (7) Section 5.03 Board Officers The Board shall include two or more officers. The same person shall not occupy both the office of President and any office responsible for the custody of funds and maintenance of finances and accounts. The initial officers of the Board shall be the President and Vice President. Additional officers may be provided for in the Bylaws of the District or otherwise designated ted by the Board The President shall be the agent of the District for purposes of receiving service of process; provided, that the By4a xs- Board may designate additional officers of the District as agents to receive or initiate process. The District may contract with the City of Bremerton for such service as it may require. Seg-wices— Dir-eeten The Finane:al Sein. - Dir-eEter- is r-equifed by he Statute �t t o�e- serve as Tr and is net subjeet to removal by the Beafd. Section 5455.04 Conflict of Interest Board members shall comply in all respects with the conflict of interest guidelines and prohibitions of Chapter 42.23 RCW as the same exists or is hereafter amended. Section 5.05 Treasurer Pursuant to RCW 36.73.020(4 ), the City's Financial Services Director shall act as the Treasurer of the District, unless an interlocal agreement states otherwise. Section 5.06 Attorney The Board shall be represented by the City Attorney of the City of Bremerton or designee provided, however, that the Board may, in the event of conflict, engage separate legal counsel of its choosing. Any potential conflicts of interest involving the City Attorney shall be determined and resolved by reference to Title 1 of the Rules of -4- Professional Conduct, as that Title now exists or may be amended. Charges and fees of the a#emey, as well as ethef sepviees provided by City empleyees, shall be r-eifabufsed in aeeer-danee with Seefien 4.01 (a). ARTICLE VI MEETINGS Section 6.01 Board Meetings Regular Board meetings shall be held on the dates, times and locations as established in the bylaws. Special Board meetings shall be held from time to time as determined necessary by the Board or Board President. Section 6.02 Board Ouorum and Concurrence A quorum to commence a Board meeting shall be no fewer than , ]3eafd shall be tie fewer- than four (4) members. The Bylaws of the District may prescribe Board quorum restrictions that equal or exceed the quorum restrictions imposed in this Section. Board concurrence may be obtained at any regular or special meeting by an affirmative vote of a majority of the Board members voting on the issue. Final action of the Board with respect to the following action shall require the affirmative vote of , 2444, -four (4) membersy1 (a) Adoption of an annual plan for services; (b) Levy of any tax, charge or fee; (c) Adoption of the material change policy; or (d) Any response to a material change. Voting by proxy shall not be permitted. Electronic meetings or participation are authorized so long as the meeting, notice and opportunity for public participation comply with state law. Section 6.03 Open Public Meetings Notice of meetings shall be given in a manner consistent with the Open Public Meetings Act, Laws ef Washingen 1971, Session Chapter 250, eed fie4 hapter 42.30 of the Revised Code of Washington, as supplemented and amended. In addition, the District shall provide reasonable notice of meetings to any individual specifically requesting it in writing. The District shall define in its Bylaws the opportunity for public comment to be permitted at Board meetings. Section 6.04 Minutes Copies of the minutes of all regular or special meetings of the Board shall be available to any person or organization that requests them as required by State law. The minutes of all Board meetings shall include a record of individual votes on all matters requiring Board concurrence. Section 6.05 Material Chanee Policy and Annual Report The Board shall develop a material change policy to address major Plan changes that affect project delivery or the ability to finance the adopted Plan. At the date of adoption of a plan to execute the functions of the District, the Board shall adopt a material change plan which addresses material changes to cost, scope, and schedule, the level of change that will require Board involvement and how the Board will address those changes. At a minimum, in the event that a transportation improvement cost -5- exceeds its original cost estimate by more than twenty percent (20 %) as identified in the District's original finance plan, the governing body shall hold a public hearing to solicit comment from the public regarding how the cost change should be resolved. In addition, the District, upon approval by the Board, shall issue an annual report, indicating the status of transportation improvement costs, transportation ieye& improvement expenditures, revenues, and construction schedules, to the public and the newspapers of record in the District the "Plan"). "Newspapers of record in the District" shall include all newspapers which have filed a request for public notice of meetings with the City of Bremerton. ARTICLE VII BYLAWS Section 7.01 Bylaws The Board shall adopt Bylaws to provide additional rules that are not inconsistent with this Charter, governing the District and its activities. ARTICLE VIII AMENDMENT TO CHARTER Section 8.01 Proposals to Amend Charter Any Board member may introduce a proposal to amend the Charter at any regular meeting or special meeting of the Board, provided, however, that all amendments shall comply with the minimum requirements and provisions of RCW 36.73 and Chapter 11.25 BMC. Section 8.02 Board Consideration of Proposed Amendments If notice of a proposal to amend the Charter and information, including the text of the proposed amendment and a statement of its purpose and effect, is provided to members of the Board fifteen (15) days prior to any regular Board meeting or any special meeting of which thirty (30) days advance notice has been given, then the Board may vote on the proposal at the same meeting at which the proposal is introduced. If such notice and information is not so provided, the Board may not vote on the proposal until the next regular meeting or a special meeting of which thirty (30) days advance notice has been given, and in each case at least fifteen (15) days prior to which meeting such notice and information is provided to Board members. Amendments to the proposal within the scope of the original proposal will be permitted at the meeting at which the vote is taken. Section 8.03 Vote Required for Proposals to Amend the Charter Resolutions of the Board approving proposals to amend the Charter shall require an affirmative vote of a majority of the Board members voting on the issue; provided, that the total number of Board members voting in favor of such proposal shall equal at least , four (4). Section 8.04 Public Hearinsts Certain amendments of the Charter may require action of the Bremerton City Council and a public hearing pursuant to the requirements of the Statute. No consideration of any charter amendment may occur until the City complies with such requirements. -6- ARTICLE IX COMMENCEMENT Section 9.01 Commencement The District shall commence its existence effective upon the adoption of the Ordinance. This Charter shall become effective upon its approval by the Board. ARTICLE X MISCELLANEOUS Section 10.01 Liberal Construction and Severability This Charter shall be liberally construed in order to effect its purposes. If any section or part of this Charter is ultimately ruled invalid or illegal by a court of competent jurisdiction, such invalidity or illegality shall not affect the remaining sections or parts of this Charter. This Charter is executed on this day of 1 2014. BREMERTON TRANSPORTATION BENEFIT DISTRICT By: Dino Davis, Board President ATTEST By: Shannon Corin, City Clerk TBD Resolution No. 013 (2014) R:\Lcgal\Legal\Files \Current Active FilesUransportahon Benefit District\2014 \Chatter Amendment 2014.doc -7- D AGENDA BILL BREMERTON TRANSPORTATION BENEFIT DISTRICT BOARD OF DIRECTORS ■■ eeeeeeeeeeeeeeeeeeeeeeeaeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee SUBJECT: Resolution No. 014 amending BOARD MEETING Date: May 21 & July 16, 2014 the Bylaws of the Bremerton Transportation City Department: City Attorney's Office Benefit District Presenter: Roger A. Lubovich Phone: 473 -2345 SUMMARY: The proposed resolution amends the Bylaws of the Bremerton Transportation Benefit District to add language related to the Treasurer of the District, to identify the principal contact and office address of the District, and to make other related amendments. ATTACHMENTS: Proposed Resolution No. 014 and Exhibit A - Bylaws FISCAL IMPACTS (Include Budgeted Amount): none RECOMMENDED MOTION: May 21, 2014 — No action to be taken... July 16, 2014 — Move to approve Resolution No. 014 amending the Bylaws of the Bremerton Transportation Benefit District. AGENDA: 17 Consent Agenda I✓ Business I Public Hearing BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 3/12/13 RESOLUTION NO. 014 A RESOLUTION of the Board of the Bremerton Transportation Benefit District, approving amendments to the Bylaws of the Bremerton Transportation Benefit District. WHEREAS, the Board of the Bremerton Transportation Benefit District approved a Charter setting forth the nature, powers, and obligations of the Bremerton Transportation Benefit District; and WHEREAS, the Board of the Bremerton Transportation Benefit District proposes to amend the Bylaws of the Bremerton Transportation Benefit District related to the Treasurer of the District, to identify the principal contact and office address of the District, and to make other related amendments; NOW THEREFORE, THE BOARD OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT, DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. The Board hereby approves the proposed Bylaws of the Bremerton Transportation Benefit District as amended, as set forth in Exhibit "A ", attached hereto and incorporated by reference. SECTION 2. SeverabiliN. If any one or more sections, subsections, or sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not affect the validity of the remaining portion of this Resolution and the same shall remain in full force and effect. SECTION 3. Effective Date. This Resolution shall take effect and be in force immediately upon its passage. PASSED by the Board of the Bremerton Transportation Benefit District this day of , 2014. By: Dino Davis, Board President APPROVED AS TO FORM: ATTEST: ROGER A. LUBOVICH, City Attorney SHANNON L. CORIN, City Clerk R:UgalU.ega11Fi1es\Current Active FilesUransportation Benefit District\20WResolution- Bylaws (2014 amendment).doc I Bremerton Transportation District Bylaws (2014 amendments) EXHIBIT A BYLAWS OF THE BREMERTON TRANSPORTATION BENEFIT DISTRICT ARTICLE I MEMBERSHIP Section 1.1 Membership Each member of the Bremerton City Council shall be an ex officio member of the Board of the District. ARTICLE II OFFICERS AND COMMITTEES Section 2.1 Officers Designated The officers of the Board shall be a President and a Vice President. Such other officers and assistant officers as may be deemed necessary may be elected or appointed by the Board. No person may simultaneously hold more than one office. In addition to the powers and duties specified below, the officers shall have such powers and perform such duties as the Board may prescribe. Section 2.2 Election Qualification, and Term of Office The President and Vice President shall be elected by the Board from among its members. The officers shall be elected by the Board at the first regular meeting each year, for a one -year term, and each officer shall hold office during said one -year term and until his or her successor is elected. The first officers of the Board shall be elected by the Board at its first meeting. Officers may, at the discretion of the Board, hold their respective offices for successive terms. Section 2.3 Powers and Duties The officers of the Bremerton Transportation Benefit District ( "District ") shall have the following duties: (a) President The President shall serve as the ceremonial head of the District and shall preside over all Board meetings. The President shall, subject to the control of the Board, exercise general supervision, direction, and control of the business and affairs of the District. On matters decided by the District, unless otherwise required under Interlocal Agreement or by this Charter, the signature of the President alone is sufficient to bind the District. The President shall be the District's registered agent for purposes of service of process. (b) Vice President The Vice President shall serve in the absence of the President as the ceremonial head of the District and shall preside over Board meetings in the President's absence and shall otherwise execute the President's powers and duties. Section 2.4 Duties of Treasurer The Treasurer shall receive and faithfully keep all funds of the District and deposit the same in such bank or banks as may be designated by the 1 EXHIBIT A District Board of Directors. The Treasurer shall have the authority to issue refunds to persons who paid Transportation Benefit District fees if he or she determines, after reasonable investigation that those fees were collected in error by the Washington State Department of Licensing With Board President approval the Treasurer is authorized to make disbursements for authorized District expenditures prior to Board review and approval The Board shall review, for its approval all such disbursements made at its next scheduled meeting. The Treasurer shall also discharge such other duties as may be prescribed by the District Board of Directors. Section 2.5 Establishment of Committees The Board may, by resolution, designate from among its members one or more committees, each consisting of at least two members, to represent the Board and, where consistent with these Bylaws, the Charter, and Chapter 36.73 RCW, to act for and on behalf of the Board. The designation of any such committee and the delegation thereto of authority shall not operate to relieve any member of the Board from any responsibility imposed by law. All actions of the District require the vote of the Board. Section 2.6 Removal From Office Upon . reasonable prior notice to all Board members of the alleged reasons for dismissal, the Board, by an affirmative vote of the majority of the quorum, may remove any officer of the Board, from his or her office whenever in its judgment the best interests of the District will be served thereby. An officer so removed shall continue to serve on the Board. ARTICLE III MEETINGS Section 3.1 Regular Board Meetings Regular Board meetings shall be held on the first Wednesday of February and the first Wednesday of August of each year in the City of Bremerton City Council Chamber following the regular City Council meetings on those dates. At any regular meeting of the Board, any business may be transacted and the Board may exercise all of its powers. Section 3.2 Special Board Meetings Subject to the Charter, special meetings of the Board may be held at any place and at any time whenever called by the President or by a majority of the members of the Board. Section 3.3 Notice of Regular Board Meetings Subject to the Charter, no notice of regular meetings shall be required, unless the regular meeting is cancelled and/or rescheduled to a special meeting. Notice of such change, shall be given to each Board member in the manner and time as provided by law. In addition, the District shall routinely provide reasonable notice of such changed meetings to the City of Bremerton and to any individual specifically requesting such notice in writing. Section 3.4 Notice of Special Board Meetings Notice of all special meetings of the Board shall be given by the Legislative Assistant or by the person or persons calling the special meeting or designee by mail, fax or email at least 24 hours prior to the time of the meeting to each Board member, and to each local newspaper of general circulation and to each radio or 2 EXHIBIT A television station that has requested notice of meeting of the City Council with the City of Bremerton as provided in RCW 42.30.080. In addition, the District shall provide notice of special meetings to the Mayor of the City of Bremerton and to any individual specifically requesting such notice in writing. The time and place of the special meeting and the business to be transacted must be specified in the notice. Final disposition shall not be taken at a special meeting on any matter not referenced in the notice. Section 3.5 Waiver of Notice Notice as provided in Sections 3.3 and 3.4 hereof may be dispensed with as to any member of the Board who, at or prior to the time the meeting convenes, files with the Board of the District a written waiver of notice or who is actually present at the meeting at the time it convenes. Such notice may also be dispensed with as to special meetings called to address an emergency involving injury or damage to persons or property or the likelihood of such injury or damage, where time requirements of such notice would make notice impractical and increase the likelihood or severity of such injury or damage. Notice concerning proposed amendments to Bylaws, and votes on such amendments, may not be waived. Section 3.6. Procedure Robert's Rules of Order shall be used as a guide for all questions of procedure and parliamentary law not otherwise provided by ordinance, statute, Charter or these Bylaws; PROVIDED, that with the concurrence of four (4) members, such rules may be waived or modified. PROVIDED FURTHER, that failure to follow said rules will not in itself constitute sufficient grounds for invalidating any Board action. Section 3.7 Public Comment Opportunity for public comment at Board meetings shall be required through a public hearing when the Board considers adoption of (1) its annual plan for service, (2) a material change policy, (3) imposition of any tax, charge or fee, and (4) any response to a material change; PROVIDED, that the Board from time to time may, in its sole discretion, permit public comment regarding additional topics. Section 3.8 Proxies Prohibited Votes may be cast at Board meetings only by members of the Board in attendance at the meeting either in person or by electronic means. Voting by proxy shall be prohibited. ARTICLE IV AMENDMENTS TO BYLAWS Section 4.1 Proposals to Amend Bylaws Any Board member may introduce a proposed amendment to the Bylaws (which may consist of new Bylaws) at any regular meeting, or at any special meeting for which 30 days' advance notice has been given. Section 4.2 Board Consideration of Proposed Amendments If notice of a proposed amendment to the Bylaws, and information including the text of the proposed amendment and a statement of its purpose and effect, is provided to members of the Board 15 days prior to any regular Board meeting or any special meeting of which 30 days' advance notice has been given, then the Board may vote on the proposed amendment at the same meeting as the one at which the 3 EXHIBIT A amendment is introduced. If such notice and information is not so provided, the Board may not vote on the proposed amendment until the next regular Board meeting or special meeting of which 30 days' advance notice has been given and at least 15 days prior to which meeting such notice and information is provided to Board members. Germane amendments to the proposed amendment within the scope of the original amendment will be permitted at the meeting at which the vote is taken. Section 4.3 Board Approval of Amendments to Bylaws Resolutions of the District approving amendments to the Bylaws by affirmative vote of a majority of the Board may be implemented at such time as selected by the District in the Resolution without further action. Copies of the all amendments to the Bylaws shall be filed with City of Bremerton City Clerk as public records. ARTICLE V ADMINISTRATIVE PROVISIONS Section 5.1 Books and Records The District shall keep current and complete books and records of account and shall keep minutes of the proceedings of its Board and its committees. The City Clerk of the City of Bremerton shall serve as its secretary for such purposes. Section 5.2 Principal Office The principal contact, office and mailing address of the Bremerton Transportation Benefit District shall be l in Br-emeAen, Washi gton, ., °°ifi °a by r the City Clerk 345 6 Street Suite 600 Bremerton WA 98337, or as otherwise designated by the Board Section 5.3 Fiscal Year The Fiscal Year of the District shall begin January 1 and end December 31 of each year, except the first fiscal year which shall run from the date the Charter was adopted to December 31, 2009. ARTICLE Aq APPROVAL OF BYLAWS 1 1 A Reso . adop ted by the r TrA Clspo Ftafio l Beaa�„ Pistr-iet Board of Direeter-s on Mar-eh 20, 2013--. These Bylaws are executed on this day of 9 2014. BREMERTON TRANSPORTATION BENEFIT DISTRICT By: Dino Davis, Board President 4 EXHIBIT A ATTEST Shannon Corin, City Clerk TBD Resolution No. (2014) R: \Legal \Legal \Files \Current Active Fileffransportation Benefit District\2014\Bylaws Amendment 2014.doc 5 AGENDA BILL CITY OF BREMERTON TRANSPORTATION BENEFIT DISTRICT ■■ ��00aMNE0ENN0E0ENNNNEEN00E0000000E000NMNNE000E0NEM0E0MM SUBJECT: Amended Interlocal Agreement BOARD MEETING Date: May 21, 2014 between the City of Bremerton and the Department: City Attorney's Office Bremerton Transportation Benefit District Presenter: Roger Lubovich Phone: 360- 473 -2345 SUMMARY: The. amendment to the Interlocal Agreement between the City and the TBD that was entered into to maintain, preserve, and improve streets and related transportation infrastructure within the City. The amendments relate to the provision of City staff support and other resources to the TBD and related issues. ATTACHMENTS: Interlocal Agreement FISCAL IMPACTS (Include Budgeted Amount): None RECOMMENDED MOTION: Move to approve the amended Interlocal Agreement between the City of Bremerton and the Bremerton Transportation Benefit District; and authorize the TBD President to finalize and execute the agreement with substantially the same terms and conditions as presented. AGENDA: Consent Agenda i'W Business Public Hearing TBD BOARD ACTION: ❑ Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 11/02/2011 INTERLOCAL AGREEMENT BETWEEN THE CITY OF BREMERTON, WASHINGTON AND THE BREMERTON TRANSPORTATION BENEFIT DISTRICT This agreement between the City of Bremerton, Washington ( "City"), and the Bremerton Transportation Benefit District ( "TBD "), each of whom is organized as a Municipal Corporation under the laws of the state of Washington, is entered into on the date fully executed below. WHEREAS, Chapter 39.34 RCW ( Interlocal Cooperation Act) permits local governmental units to make the most efficient use of their powers by enabling them to cooperate on the basis of mutual advantage; WHEREAS, the City is empowered to operate, maintain, construct, and reconstruct, public street infrastructure within its city limits in accordance with the powers granted pursuant to RCW 35.22.280; WHEREAS, pursuant to Ordinance No. 5076, codified in Chapter 11.25 Bremerton Municipal Code ( "Chapter 11.25 BMC ") the TBD was created to provide adequate funding for transportation improvements that preserve, maintain, improve and, as appropriate, construct or reconstruct the existing transportation infrastructure of the City consistent with and Chapter 36.73 RCW; WHEREAS, the City and the TBD entered into this Interlocal Agreement on or about February 15, 2012, desife to better coordinate their efforts in order to pursue their individual, joint and mutual rights and obligations to maintain and preserve streets and related transportation infrastructure within the City; WHEREAS, this amended Interlocal Agreement updates Ianguage relating to the provision of City staff and resources to the TBD and other related amendments; NOW THEREFORE, The parties have entered into this agreement in consideration of the mutual benefits to be derived and to coordinate their efforts through the structure provided by the Interlocal Cooperation Act. 1. Recitals. The recitals set forth above are hereby incorporated by reference. 2. Purpose and Interpretation. The City is empowered by Title 35 RCW to construct, reconstruct, maintain and preserve City streets and other related public infrastructure either by contract or through the use of City forces. The TBD has been constituted in accordance with state law to provide a source of funding for transportation improvements that preserve, maintain and improve the transportation infrastructure and related infrastructure within the City limits of the City. The TBD has no employees and its officers are either City Council Members serving in an ex officio capacity or are City employees designated to serve under the provisions of state law. In order to make the most efficient use of public monies, to avoid duplication of effort and 1 City/TBD Interlocal Agreement — 2014 updates to coordinate their efforts, the parties have entered into this agreement. In the event of ambiguity or the need for guidance arises, this agreement shall be interpreted in accordance with the provisions of Chapter 11.25 BMC, Chapter 36.73 RCW, and the provisions of the Governmental Accounting Act and RCW 43.09.2 10 as the same exists or shall hereafter be amended. In the event that any provision of this agreement is held to be in conflict with existing state statute or any future amendment thereof, such provisions shall be severable, and the remaining provisions of this agreement shall remain in full force and effect. 3. Obligations of the TBD. In accordance with the requirements of Chapter 36.73 RCW, Chapter 11.25 BMC, the TBD agrees to: 3.1 Provide to the City all funding received from any and all lawful sources, net administrative expenses, which the TBD in its sole discretion may levy for the purpose of making transportation improvements that preserve, maintain and improve the transportation infrastructure and related infrastructure of the City. 3.2 Continue the annual provision of funding for transportation improvements that preserve, maintain and improve the transportation infrastructure of the City so long as the TBD remains in existence. Such funding shall be in accordance with and limited by the provisions of Chapter 11.25 BMC and Chapter 36.73 RCW. 3.2.1 Shall hold public hearings prior to levying any charge, tax or fee and shall levy any charge, tax or fee only in accordance with law and ordinance; 3.2.2 Develop an annual work plan and designate projected street maintenance, preservation and improvement projects within City for funding; and 3.2.3 Pursuant to RCW 36.73.160(1), shall develop a material change policy to consider at a minimum the impacts and appropriate remedies if transportation improvements contained in its annual plan exceed its original cost by more than 20 %. In such case, the TBD shall hold a public hearing to solicit comment from the public regarding how the cost change should be resolved. The obligations of this agreement shall be interpreted and applied in a manner consistent with this adopted policy. 4. Obligation of the City. The City shall: 4.1 Provide staff support and other resources to the TBD. In eensidenAieft ef the benefits- der -Wed- b the --City, - ever -lead ehar- ges -sueh as staff suppeFt as well as utilities ; infoFmatien teehnelegy, effiee supplies, e"ipment and ether- r-eseumes as agreed upen hall. be a s th City Attem the efl.E- when " serving as GleriFe`f the T the City ir - ee ep 7 City Ceuneil staff and ether- staff deemed 2 City/TBD Interlocal Agreement - 2014 updates 4. 1.1 In consideration of the benefits derived by the City, services provided by City staff that serve the purpose of administration of the TBD, including, but not limited to financial, legal, clerk, en ing eerin-a administration, and the overhead within these administrative services including budgeting, reporting, advertising, accounting, utilities, information technology, office supplies, and equipment shall be a contribution of Cijy to the parties' joint goals and objectives and need not be directly charged back to the TBD, unless otherwise required by law. 4.1.2 The indirect and direct costs of project support shall be eligible costs of District funds. The eligible costs shall include but are not limited to engineering design, project bidding, construction management and inspection, project accounting and other related project expenditures. 4.1.3 All costs of annual audits shall be borne by the District. All costs associated with the issuance of debt shall be paid by the District. 4.2 The following City staff, or their authorized designee, shall serve the TBD as follows: a City's Director of Financial Services shall serve as Treasurer, b) City Attorney shall serve as Board Attorney, c) Director of Public Works & Utilities shall serve as Project Coordinator, d) City Clerk shall serve as Secretary, e) City Council staff shall serve as TBD Board staff , and fl other staff as agreed to by the City and the TBD deemed necessary to implement the programs of the TBD. 4.2-3 In addition to the staff support and resources set forth in Subsection 4.1 above, the City's Public Works Committee may be used by the TBD as a resource to review, consider and provide recommendations to the TBD regarding the annual work plan, transportation improvements to be included therein and other items related to the operation of the TBD. 4.34 Maintain for the period established by the State Archivist retention schedule, financial records, kept in accordance with general accepted accounting practice and governmental accounting requirements, as necessary to document that any and all funding received through the TBD is used only for the maintenance, preservation and improvements of City streets and infrastructure in accordance with law and ordinance. 4.45 Utilize all funding provided by the TBD for transportation improvements that preserve, maintain and improve the transportation infrastructure of the City as shown and prioritized on the TBD's annual work plan in accordance with Chapter 11.25 BMC and Chapter 36.73 RCW. In doing so, it is the intent of the parties that this funding supplement, not replace, existing City funding sources for street improvements. 3 City/TBD Interlocal Agreement - 2014 updates 5. Ownership. Streets and related transportation infrastructure preserved, maintained and improved with TBD funds are and shall remain the property of the City. No joint property ownership is contemplated under the terms of this agreement. 6. No Joint Board. No provision is made for a joint board. The TBD shall exercise its function in accordance with the applicable statute, using staff as provided by the City, pursuant to this agreement. 7. No Indemnity. No indemnification is provided by this agreement. The parties agree to bear their respective liability for any acts or omissions resulting under this agreement as the same shall be determined under the laws of the state of Washington or any mutually approved settlement agreement. 8. Termination. This agreement shall terminate or expire as follows: 8.1 This agreement may be terminated by either party upon the provision of three hundred and sixty-five (365) calendar days notice. A final reconciliation of costs, payment, and a current report of completed activities shall be completed by City within such period following the notice by either party. 8.2 Unless sooner terminated by either party, this agreement shall expire on the date the District is dissolved in accordance with provisions of Chapter 11.25 BMC, as currently enacted or hereinafter amended. IN WITNESS WHEREOF, the parties have executed this agreement on this day of , 2014. CITY OF BREMERTON BREMERTON TRANSPORTATION BENEFIT DISTRICT By: By: Patty Lent, Mayor Dino Davis, Board President Date: Date: ATTEST: By: Shannon Corin, City Clerk ULegal\Legal\Files\Current Active Files \Transportation Benefit District\2014 \City-TBD Interlocal Agreement - 2014.doc 4 City/TBD Interlocal Agreement — 2014 updates