HomeMy WebLinkAbout3005
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RESOLUTION NO. 3 0 0 5
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A RESOLUTION OF THE CITY OF AUBURN, KING COUNTY, WASHINGTON,
APPROVING THE ACTION OF THE STATE OF WASHINGTON ECONOMIC
DEVELOPMENT FINANCE AUTHORITY AND THE ISSUANCE OF NON-RECOURSE
REVENUE BONDS TO FINANCE AN ECONOMIC DEVELOPMENT FACILITY FOR
SKILLS, INC., AND PROVIDING FOR OTHER MATTERS PROPERLY
RELATING THERETO AND AUTHORIZING THE EXECUTION OF AN AGREEMENT
TO MAKE ANNUAL PAYMENTS IN LIEU OF AMOUNTS THAT WOULD BE
RECEIVED FOR SERVICES FROM THE CITY'S PORTION OF PROPERTY TAX.
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WHEREAS, SKILLS, INC. plans to purchase certain real
property (the Property) located in the City of Auburn and
rehabilitate an existing building on the Property in order to
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carry out its mission of providing training and employment for
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persons with disabilities (the Project); and
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WHEREAS, SKILLS, INC. has applied to the Washington
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Economic Development Finance Authority (the Authority), a
public agency of the State of Washington, for the purpose of
borrowing the proceeds of tax-exempt bonds to be issued by the
authority in order to finance the Project; and
WHEREAS, Authority, as part of its policy pertaining to
the issuance of tax-exempt bonds (the Bonds) and the loan of
the bond proceeds, and SKILLS, INC. have requested that the
City Council of the City of Auburn adopt a Resolution
supporting the Project; and
WHEREAS, it is anticipated that the City of Auburn will
be required to provide certain City services to the Project
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Resolution No. 3005
October 1, 1998
Page 1
1 which services are paid, in part, from certain property and
2 sales tax revenue from which SKILLS, INC. is exempt; and
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WHEREAS,
in consideration for receiving the City's
4 support for the proj ect, SKILLS, INC. has agreed to make
5 certain payments to the City over the term of the Bonds to pay
6 for all or a portion of such services.
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NOW, THEREFOR, THE CITY COUNCIL OF THE CITY OF AUBURN,
8 WASHINGTON, IN A REGULAR MEETING DULY ASSEMBLED, HEREWITH
9 RESOLVES AS FOLLOWS:
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Section 1. The City Council of the City of Auburn hereby
affirmatively approves the issuance of non-recourse revenue
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bonds in the amount of $3,500,000 for the purpose of locating
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the company SKILLS, INC. within the City of Auburn.
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Section 2.
The Mayor of the City of Auburn is hereby
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authorized to enter into Agreement to Make Annual Payment
which is attached hereto, designated as Exhibit "1" and
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incorporated by reference in this Resolution.
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Section 3.
If any provision of this Resolution or
20 Agreement and Exhibit "1", is determined to be void or
21 unenforceable the remaining provisions of this Resolution and
22 Agreement shall remain in force and effect
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Resolution No. 3005
October 1, 199B
Page 2
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Section 4.
The Mayor is hereby authorized to implement
such administrative procedures as may be necessary to carry
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out the directives of this legislation.
DATED and SIGNED this 5th day of October, 1998.
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ATTEST:
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~ lljð-J¿,J
D ielle E. Daskam,
City Clerk
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APPROVED AS TO FORM:
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Michael J ~0da,
City Attorney
Resolution No. 3005
October 1, 1998
Page 3
CITY OF AUBURN
r hm-I~ C-ì , f},.."..Æ'
CHARLES A. BOoTH
MAYOR
AGREEMENT TO MAKE ANNUAL PAYMENTS
This Agreement is entered into as of the ~ day of October, 1998, by and
between the CITY OF AUBURN (the "City") and SKILLS, INC., a Washington
nonprofit corporation ("Skills") (collectively, the "Parties" and each a "Party").
RECITALS
WHEREAS, Skills plans to purchase certain real property located in the City (the
"Property") and rehabilitate an existing building on the Property in order to carry out its
mission of providing training and employment for persons with disabilities (collectively,
the "Project"); and
WHEREAS, Skills has applied to the Washington Economic Development
Finance Authority (the "Authority"), a public agency of the State of Washington, for the
purpose of borrowing the proceeds of tax-exempt bonds (the "Bonds") to be issued by the
Authority in order to finance the Project; and
WHEREAS, WEDF A, as part of its policy pertaining to the issuance of tax-
exempt bonds and the loan of the bond proceeds, and Skills have requested that the City
Council of the City adopt a resolution supporting the Project; and
WHEREAS, it is anticipated that the City will be required to provide certain City
services to the Project which services are paid, in part, from certain property and sales tax
revenue ITom which Skills is exempt; and
WHEREAS, in consideration for receiving the City's support for the Project,
Skills has agreed to make certain payments to the City over the term of the Bonds to pay
for all or a portion of such services;
NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:
Section I. Skills covenants and agrees to make the following annual payments to
the City: in the years 1999 through 2001, inclusive, one-half of the City's portion of the
property tax which would be assessed on the Property if it were subject to real property
taxation by the State; and in the years 2002 through 2008, inclusive, 100% ofthe City's
portion of the property tax which would be assessed on the Property ifit were subject to
real property taxation by the State.
Section 2. Skills agrees to make each annual payment within 30 days of receipt of
an invoice ITom the City stating the amount of such payment. It is anticipated that the
annual payments will be made on September I of each year.
Section 3. This Agreement shall terminate on the later of September 1, 2008, or
the receipt by the City of the final payment due under this Agreement.
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Exhibit "I"
Resolution No. 3005
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Section 4.
a. This Agreement may be amended only upon consent of the Parties thereto.
Any amendment hereto shall be in writing.
b. The waiver by any Party of any breach of any term, covenant, or condition
of this Agreement shall not be deemed a waiver of such term, covenant, or condition or
any subsequent breach of the same of any other term, covenant, or condition of this
Agreement.
c. Any Party hereto shall have the right to enjoin any substantial breach or
threatened breach of this Agreement by any other Party, and shall have the right to
recover damages and to specific performance of any portion of this Agreement.
d. This Agreement is solely for the benefit of the Parties hereto and no third
party shall be entitled to claim or enforce any rights hereunder except as specifically
provided herein.
e. This Agreement shall be effective whether signed by the Parties, and
whether on the same document or in counterparts.
f All notices or other communications shall be deemed sufficient hereunder
if made in writing and delivered by telefacsimile or by first-class mail, postage prepaid,
to each Party at its respective address set forth below, or such other address as such Party
may hereafter designate to the others in writing.
IN WITNESS WHEREOF, this Agreement has been executed by each Party as
set forth below:
THE CITY OF AUBURN
SKILLS, INC.
By QJUl~A ~cc~
Its Mayor
.,s-2;;~
Its C
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