HomeMy WebLinkAboutAgenda Modification �
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CITY OF -�" - *
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TO: Members of the City Council
Mayor Lewis
Department Directors
FROM: Danielle Daskam, City Clerk
SUBJECT: March 5, 2012 Agenda Mod�cation
DATE: March 5, 2012 '
The March 5, 2012, City Council meeting agenda published on Friday, March 2,
2012, is modified as follows:
IX. RESOLUTIONS
A revised Resolution No. 4806 is transmitted to substitute for the
resolution containecl in the packet.
A. Resolution No. 4606
A Resolution of the City Council of the City of Aubum, Washington,
supporting the Aubum TransPortation Benefit DistricYs Bond
Measure
Proposition No. 1
The Board of the Aubum Transportation Benefit District adopted
Resolution No. 2012-2 conceming a proposition to fund District
transportation improvements and projects. If approved, this
proposition would authorize the isstiance of genera� obligation
bonds to pay the costs of the transportation improvements and
projects identified in the City of Auburn Six-Year Transportation
Improvement Plan in an amount not more than $59,000,000, each
series of such bonds maturing within 25 years or less, and
authorize the annual levy of excess property taxes to pay and retire
such bonds, as provided in Resolution No. 2012-2.
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RESOLUTION NO. 4 8 0 6
A RESOLUTION OF THE CITY COUNCIL OF THE
GITY OF AUBURN, WASHINGTON, SUPPORTING
THE AUBURN TRANSPORTATIOIV BENEFIT
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DISTRICT'S BOND MEASURE
WHEREAS, the Auburn Transportation Benefit District has placed a
measure before the voters on the April 17, 2012, Special Election, as Proposition
1; and
WHEREAS, if approved by the voters of the City; 4he proposition would
authorize the District to issue General Obligation Bonds for the purpose of
financing transportation improvements in the aggregate principal amount not to
exceed $59,000,000.00, payable by annual property tax levies to be made in
excess of regular property tax levies, and to levy those excess property taxes,
and to provide for other matters relating thereto; and
WHEREAS, if approved, Proposition 1 wbuld provide revenue thaf would
be speoifically dedicated to Auburn's many miles of high-traffic arterial roads
� which must be rebuilt and maintained largely with limited local resources; and
WHEREAS, Aubum has worked with citizens and businesses to identify
and prioritize the City's arterial roads for preservation projects over a twenty year
period; and
VVHEREAS, in connection' therewith, the City is prioritizing road
preservation because a high quality street system that efficiently moves goods
and people enhances our competitiveness and creates a tangible retum on
investments for businesses and residents. The City has prioritized high-traffic
Resolution No. 4806
March 5, 2012
Page 1 of 3
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arterial roads in response to concems thatfiurtherdeterioration of these roadswill
impact economic development and efficient flow of commuter traffic; and
WHEREAS, if approved by yoters; Proposition 1 would dedicate excess
property tax revenues to repay general obligation bond proceeds to rebuild and
repair a list of citizen-selected arterial street improvement projects over a twenty
year period; and
WHEREAS, if the measure is approyed, it is expected that the ayerage
$250,000 home would see an increase of$2.65 per month in 2013 and 2014, an
increase of $5.76 in 2015 and 2016 reaching a maximum of $8.00 to $9.00 in
2018, consistent with the following:
MONTHLY ANNUAL TOTAL DEBT ISSUED -MILAGE RATE1$1.000 AV
Year1 2013 $2.65 531.91 $12,000,000.00 $.1276
Year 2 2014 $2.65 $31.91 $12,000,000.00 $.1276
Year 3 2015 $5.76 $69.14 $26,000,000.00 $.2765
Year4 2016 $5.76. $69.14 $26,000,000.00 $.2765
Year 5 2017 $7.96 $95.52 $37,000,000.00 $.3821
and thereafter, after 2018, as the bonds mature and are paid off, the average
annual impact to a homeowner would be reduced through the remainder of the
term of the bond issuance; and
WHEREAS, the bond funds must be used for arterial roads for
presenration projects, and cannot be used for other purposes; and
WHEREAS, RCW 42.17A.555 authorizes city councils to take collecfive
action regarciing ballot measures appearing before the voters.so long as the
action is taken at a public meeting, the intended action is identified on the
Resolution Na 4806 �
March 5,2012
Page2 of 3
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agenda and where the opportunity for opposing views is given to attendees at the
public meeting; and
WHEREAS, in light of the significant need for repair and maintenance of
the many miles of arterial streets in the City of Auburn, and the absence of state
or federal funds to assist the City with such needs, it is appropriate thaf.the City
Council support this ballot measure as permittedpursuant to RCW 42;17A:555. �
NOW, THEREFORE, THE CITY COUNCIL OF`THE CITY OF AUBURN,
HEREBY RESOLVES as follows:
Section 1. That the City Council supports Proposition 1 coming before
the voters at the April 17, 2012 special election.
Section 2. That this Resolution shall take effect and be in full force
- . upon passage and signatures hereon.
Dated and Signed this day of , 2012.
CITY OFAUBURN
PETER B. LEWIS
MAYOR
ATTEST:
Danielle E. Daskam, City Clerk
APPROVED AS TO FORM: /
Daniel B. Heid, City Attomey
Resolution Na 4806
March 5, 2012
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