HomeMy WebLinkAbout4363CITY OF AUBURN, WASHINGTON
ORDINANCE NO. 4363
AN ORDINANCE of the City of Auburn, Washington,
relating to the Les Gove Park site, providing for the
construction and development of the ''Auburn
Centennial Center, including redevelopment,
expansion and equipping of existing recreational and
community facilities, construction and equipping of a
new community center, and acquiring and making other
capital improvements; declaring the estimated cost
thereof as nearly as may be; providing for the
borrowing of a total of $7,500,000, and selling
general obligation bonds to pay the cost thereof,
such bonds to be payable by annual property tax
levies to be made in excess of regular property tax
levies; and providing for the submission of the
proposition and incurring such indebtedness, issuing
such bonds and levying such excess taxes to the
qualified voters of the City at a special election to
be held therein on November 7, 1989, in conjunction
with the State general election to be held on the
same date.
WHEREAS, the City of Auburn, Washington (the "City"), is in
need of redeveloping, expanding and equipping the library,
senior center and other facilities, constructing and equipping a
new community center at, improving access and acquiring and
making other capital improvements to the Les Gove Park site, and
the City does not have available sufficient funds to meet the
estimated cost of such improvements; and
WHEREAS, the new and redeveloped facilities at Les Gove
Park will be known as the "Auburn Centennial Center" in honor of
the City's one hundredth anniversary; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO
ORDAIN as follows:
Section 1. The City shall redevelop the Les Gove Park site
into an "Auburn Centennial Center," including the redevelopment,
expansion and equipping of existing recreation and community
facilities, including the library and senior center,
construction and equipping of a new community center, improving
access to, and acquiring and making other capital improvements
for the site, the estimated cost of which, including the cost of
issuing and selling the bonds provided for in this ordinance, is
declared to be as nearly as may be $7,500,000.
Section 2. The City shall borrow not to exceed $7,500,000
on the credit of the City and issue and sell its general
obligation bonds therefor for strictly municipal capital
purposes, other than the replacement of equipment, for the
purpose of providing the funds in the amount and for the
purposes specified in Section 1 of this ordinance. Costs of
engineering, planning, financial, legal and other services
lawfully incurred incident to the purposes specified in
Section 1 of this ordinance shall be appropriate capital costs
to be paid from the proceeds of the bonds provided for by this
ordinance.
Section 3. The general obligation bonds authorized by this
ordinance shall bear interest, shall mature within 20 years from
date of issue, but may mature within a lesser time (the life of
the various improvements and equipment to be acquired by the
issuance of bonds is found to be at least as long as the
maturities of the respective bonds to be issued) in such
amounts, may be sold in one or more series, or combined with
other authorized bonds and shall be sold in such manner, as the
City Council of the City shall determine. The bonds shall be
paid by annual property tax levies made in excess of regular
property tax levies without limitation as to rate or amount
sufficient in amount to pay the principal of and interest on the
bonds when due, and the bonds shall so provide. The date,
interest rate or rates, maturities, option of prior redemption,
form and covenants of the bonds shall be provided for hereafter
by ordinance of the City Council. Pending the issuance of the
bonds and receipt of proceeds thereof, the City Council may
authorize interim interest -bearing warrants or other short-term
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obligations to pay for carrying out the purposes of the bonds,
and the costs of such warrants or short-term obligations shall
be included in the cost of those purposes.
Section 4. The City Council finds that an emergency exists
requiring the making of the improvements herein described and
the Director of Records and Elections of King County,
Washington, is requested to concur in the finding of the
existence of an emergency and to call and conduct a special
election to be held in the City on November 7, 1989, in
conjunction with the State general election to be held on the
same date, for the purpose of submitting to the qualified
electors of the City for their approval the question of whether
or not the City shall borrow not to exceed $7,500,000, issue its
general obligation bonds therefor for capital purposes only,
other than replacement of equipment, and levy excess taxes
necessary to redeem the bonds as herein set forth.
Section 5. The City Clerk is directed to certify to the
Director of Records and Elections of King County, Washington, at
least 45 days prior to the November 7, 1989, special election
date, a copy of this ordinance and the proposition to be
submitted at that special election in the form of a ballot title
as follows:
CITY OF AUBURN
PROPOSITION #1
AUBURN CENTENNIAL CENTER BONDS - $7,500,000
Shall the City issue and sell not to exceed
$7,500,000 of general obligation bonds to develop the
Auburn Centennial Center at the Les Gove Park site,
maturing in not more than 20 years from issue date
and payable from annual property tax levies made in
excess of regular property tax levies, nd levy taxes
therefor, as provided in Ordinance No. ?
BONDS . . YES / / BONDS . . NO / /
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Section 6. This ordinance shall take effect and be in
force five days from and after its passage, approval and
publication, as provided by law.
ATTEST:
City Clerk
APPROVED AS TO FORM:
1 v `
ity Bond C u sel
PUBLISHED: 9- 1� I
2662a
INTRODUCED: 91
C)/- K9
PASSED: 8 APPROVED:
Mayor
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STATE OF WASHINGTON)
) ss.
COUNTY OF KING )
I, Robin Wohlhueter, the duly appointed, qualified City
Clerk of the City of Auburn, a Municipal Corporation and
Code City, situate in the County of King, State of
Washington, do hereby certify that the foregoing is a full,
true and correct copy of Ordinance No. 4363 of the
ordinances,of the City of Auburn, entitled "AN ORDINANCE."
I certify that said Ordinance No. 4363 was duly passed
by the Council and approved by the Mayor of the said City of
Auburn,'or the the 21ST day of AUGUST A.D., 1989.
further certify that said Ordinance No. 4363 was
published as provided by'.ldw,in the Valley Daily News,i a
daily newspaper published in'the Cityof Auburn, and of
general circulation therein, on the 27TH,.day of AUGUST,
A.D., 1989.
Witness my hand and the official seal of the City of
Auburn this September 12, 1989, A.D.
'
Robin Wohlhueter
City Clerk
City of Auburn
25 West Main, Auburn, WA 98001-4998 (206) 931-3000