HomeMy WebLinkAbout4806 RESOLUTION N0. 4 8 0 6
A RESOLUTION OF THE CITY COUNCFL OF THE
CITY OF AUBURN, WASIiINGTOIV, SUPPORTING
THE AUBURN TRANSPORTATION BENEFIT
DISTRICT'S'BOND MEASURE
WHEREAS, the Aubum Transportation Benefd District has placed a
measure before the voters on the April 17, 2012, Special Election, as Proposition
,
1; and
' WHEREAS, if approved 6y the voters oP the City, the 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 6y annual property tax levies to be made in
excess of regular property tax levies, and to levy tho.se excess property taxes,
and to provide for other matters relating thereto; and
WHEREAS, if approved, Proposition 1 would provide revenue that would
be spec�cally dedicated to Aubum's many miles of high-tra�c arterial roads
which musYbe 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
WHEREAS, 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 return on
investments for businesses and residents. The City has prioritized high-traffic
Resolution No. 4806
March 5; 2012
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arterial roads in response to concems fhat furtherdeterioration ofithese roads will
impact economic development and efficient flow of commuter traffic; and
WHEREAS, if approved by voters, Proposition 1 would dedicate excess
property tax reyenues to repay general obligation bond proceeds to rebuild and
repair a list of citizen-selected arterial street improvement projects over a twerrty
year period; and
WHEREAS, if the measure is approved, it is expected that the average
$250,000 home would see an increase in property tax based on this measure of
$2.65 per month in 2013 and 2014, an increase of $5.76 in 2015 and 2016
reaching a maximum increase of $8.00 to $9.00 in 2018, consistent with the
following:
MONTHLY - ANNUAL TOTAL DEBTISSUED MILAGE RATFJ31.000 AV
Year 1 2013 $2.65 $31.91 512,000,000,00 5.1276
Year 2 2014 52.65 531.91 $12,000,000;DO 5.1276
Year 3 2015 $5.76 $69.14 S26,OOQ�00:00 5.2765
�'ear4 2016 $5.76. 569.14 526,000,000.00 5:2765
Year 5 2017 $7.96 595.52 S37,OQO,OD0.00 5.3821
and thereafter, after 2018, as the bonds matu�e 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
preservation projects, and cannot be used for other purposes; and
WHEREAS, RCW 42.17A.555 authorizes city councils to take collective
action regarding ballot measures appearing before the voters so long as the
action is taken at a public meeting, the intended ac4ion is identified on the
Resolution No. 4806
March 5, 2012
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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 Aubum, and the absence of state
orfederal funds to assist the Gity with such needs, it is appropriate that the City
Council support this ballot measure as permitted pursuant to RCW 42.17A.555.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
HEREBY RESOWES as follows:
Section 1. That fhe 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 !`v`�-�� , 2012.
TY URN
P TER B. LEWIS
MAYOR
ATTEST:
����,s��.�i
Danielle E. Daskam, CityClerk
APPR ED AS TO FORM:.
D iel B. id, ityAttor----�
Resolution No. 4806
March 5, 2012
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