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HomeMy WebLinkAbout2075 Special Election to Levy Property Taxes for 10 Years in Excess of 106% Limit to Acquire New Fire Trucks and EquipmentCITY OF PORT TOWNSEND, WASHINGTON ORDINANCE NO. 2075 AN ORDINANCE providing for the submission to the qualified electors of the City at a special election to be held therein on September 15, 1987, of a proposition authorizing the City to levy regular property taxes for 10 years in excess of the 106% limitation for the purpose of acquiring new fire trucks and related equipment for the City and authoriz- ing the City to issue its unlimited tax levy general obligation bonds in the aggregate principal amount of $630,000 for such pur- poses if approved. PASSED ON JULY 21, 1987 PREPARED BY: PRESTON, THORGRIMSON, ELLIS & HOLMAN 5400 Columbia Seafirst Center 701 Fifth Avenue Seattle, Washington 98104-7011 JUL MARY E. TABLE OF CONTENTS* Recitals ......................... Section 1. Section 2. Section 3. Section 4. Section 5. Section 6. Section 7. Page 1 2 Findings ................. Capital Improvements ........... 2 Fire Suppression Equipment Funding ..... 3 Authorization of Bonds .......... 3 Levy and Bond Election .......... 4 Severability ............... 5 Effective Date .............. 5 *This Table of Contents is not a part of the following resolution. -i- FWW:WORK43:17 ORDINANCE NO. 2075 AN ORDINANCE providing for the submission to the qualified electors of the City at a special election to be held therein on September 15, 1987, of a proposition authorizing the City to levy regular property taxes for 10 years in excess of the 106% limitation for the purpose of acquiring new fire trucks and related equipment for the City and authoriz- ing the City to issue its unlimited tax levy general obligation bonds in the aggregate principal amount of $630,000 for such pur- poses if approved. WHEREAS, the public health and safety and the proper func- tioning of local government require that the City of Port Townsend, Washington (the "City"), acquire and equip new fire suppression equipment for the City to replace existing, outdated equipment; and WHEREAS, to provide financing for such purpose it is deemed necessary and advisable that the City levy regular property taxes in excess of the 106% limitation for 10 years to provide the principal amount of $630,000 plus interest for such purposes; and WHEREAS, to provide financing for the immediate acquisition of such fire suppression equipment, it is deemed necessary and advisable that the City issue and sell its unlimited tax levy general obligation bonds in the principal amount of $630,000; and WHEREAS, RCW 84.55.050 permits the question of whether or not the City may levy regular property taxes in excess of the 106% levy limitation for a limited purpose and term to be submit- ted to the qualified electors of the City for their ratification -oz~_~ejectio~ ...... NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND DO ORDAIN AS FOLLOWS: Section 1. Findings. The City Council hereby makes the following findings: The following fire suppression vehicles used by the Port Townsend Fire Department are inadequate to serve the present and projected needs of the Fire Department: 1944 Seagrave Aerial Ladder Truck, 1941 American La France Pumper Truck, 1941 Chevrolet Pumper Truck. A new ladder/pumper truck and a new pumper truck are necessary to meet the fire suppression needs of the City and its inhabitants in the future. The best interests of the inhabitants of the City require the City to carry out the plans hereinafter provided at the time or times and in the order and in the manner deemed most necessary and advisable by the Council. Section 2. Capital Improvements. The City hereby orders the following capital improvements to be acquired, constructed, installed and equipped, subject to voter approval as specified herein. The City shall acquire a new ladder/pumper truck and a new pumper truck for the Port Townsend Fire Department. The cost of all necessary consulting services, inspection and testing, administrative expenses and other costs incurred in connection with the acquisition and financing of the foregoing capital equipment- shall~.be deemed a part of the cost of its acquisition. Such equipment shall be complete with all necessary auxiliary equipment and appurtenances. The City shall determine the exact specifications for such equipment. If the City Council, by ordinance, shall determine that it has become impractical to acquire any of such equipment ...... ~.?o~tions .thereof by reason of changed conditions, or costs substantially in excess of the amount of bond proceeds or tax levies estimated to be applied thereto, the City shall not be required to acquire such equipment. If all of the equipment so described has been acquired, or its acquisition duly provided -2- FWW:WORK43:17 for, or its acquisition found to be impractical, the City may apply the bond proceeds or any ~ortion thereof to redemption of the bonds as the Council, by ordinance and in its discretion shall determine. In the event funds are insufficient to acquire all of the equipment herein authorized, the City shall use the available funds for paying costs of such equipment as is deemed most necessary and in the best interests of the City by the Council. Section 3. Fire Suppression Equipment Funding. For the purpose of providing the principal amount of $630,000, plus the interest required to borrow such amount for up to 10 years, to pay the costs of acquisition of such equipment, as authorized by Section 2 of this ordinance, the City shall submit to the qual- ified electors of the City a proposition as authorized by RCW 84.55.050, as amended by Chapter 169, Laws of Washington, 1986, to exceed the 106% levy limitation on regular property taxes con- tained in RCW 84.55.010 by increasing the levy rate of regular property taxes by a rate of not to exceed $0.45 per thousand dollars of assessed value in 1988 through 1997 for collection in 1989 through 1998 respectively, a period of 10 years. Property taxes so levied in excess of the 106% levy limitation shall be applied to pay the costs of acquisition of the equipment, and to pay the principal of and interest on any general obligation bonds of the City issued for such purposes, as provided in this ordi- nance. Property taxes levied in 1998 for collection in 1999 and in later years shall be computed as if the limitation on levies contained in RCW 84.55.010 had been in effect from 1988 through 1998 and authority to exceed the 106% limitation under this ordinance had not been approved and such increased property taxes had not been made. Section 4. Authorization of Bonds. For the purpose of providing funds necessary to pay the capital costs of the -3- FWW:WORK43:17 equipment, as authorized by Section 2 of this ordinance, the City hereby authorizes the issuance of its general obligation bonds in the aggregate principal amount of $630,000. The bonds shall be issued in such amounts at such time or times as found necessary and advisable by the legislative authority of the City; may be issued in one or more series; and shall bear interest payable at a rate or rates not to exceed a maximum rate authorized by the legislative authority of the City. The bonds shall mature in such amounts and at such times within a maximum term of 10 years from date of issue, but may mature at an earlier date or dates as authorized by the legislative authority of the City and as provided by law. The exact date, form, terms, options of redemp- tion, maturities and conditions of sale of the bonds shall be as hereafter fixed by ordinance or ordinances of the legislative authority of the City passed for such purpose. Section 5. L~vy and Bond Election. It is hereby found and declared that an emergency exists requiring the submission to the qualified electors of the City of a proposition authorizing regular property tax levies in excess of the 106% levy limitation for the purposes described in this ordinance and authorizing the City to issue bonds for such purposes as specified in this ordinance, at a special election to be held therein on the 15th day of September, 1987. The Jefferson County Auditor as ex officio supervisor of elections is hereby requested also to find the existence of such emergency and to assume jurisdiction of and to call and conduct said special election to be held within the City and to submit to the qualified electors of the City the proposition? hereinafter, set f~rth. The City Clerk is hereby authorized and directed, not less than 45 days prior to September 15, 1987, to certify the following proposition to the Jefferson County Auditor in the following form: -4- FWW:WORK43:17 CITY OF PORT TOWNSEND PROPOSITION NO. 1 FIRE EQUIPMENT LEVY AND BONDS To pay the costs of acquiring two new fire trucks and related equipment, shall the City of Port Townsend increase its regular property tax levy in 1988 through 1998 by a rate not to exceed $0.45 per thousand of assessed valuation (to total approximately $2.54 per thousand of assessed valuation in 1988) and in 1999 reduce its regular property tax levy to the amount otherwise provided by law, to provide $630,000, plus the cost of borrowing such amount for up to 10 years, and to borrow such amount by issuing its general obliga- tion bonds, all as specified in Ordinance No. 2075? LEVY AND BONDS, YES ...... [ ] LEVY AND BONDS, NO The polls for such special election shall be open from 7:00 a.m. to 8:00 p.m. Certification of such propositions by the Clerk of the City Council to the Jefferson County Auditor, in accordance with law, prior to the date of such election on September 15, 1987, and any other act consistent with the authority and prior to the effec- tive date of this ordinance, are hereby ratified and confirmed. Section 6. Severability. In the event any one or more of the provisions of this ordinance shall for any reason be held to be invalid, such invalidity shall not affect or invalidate any other provision of this ordinance or the bonds, but this ordi- nance and the bonds shall be construed and enforced as if such invalid provision had not been contained therein; provided, that any provision which shall for any reason be held by reason of its extent to be invalid shall be deemed to be in effect to the extent permitted by law. Section 7. Effective Date. This ordinance shall become effective five days after its passage and publication. -5- FW-W: WORK43: 17 PASSED by the Council of the City of Port Townsend, Washington, at a regular meeting thereof, held this 21st day of July, 1987. ATTEST: City Clerk CITY OF PORT TOWNSEND, WASHINGTON -6- FWW:WORK43:17 CERTIFICATE I, the undersigned, Clerk of the City of Port Townsend, Washington (the "City"), and keeper of the records of the City Council (herein called the "Council"), DO HEREBY CERTIFY: 1. That the attached ordinance is a true and correct copy of Ordinance No. 2075 of the Council (herein called the "Ordinance"), duly passed at a regular meeting thereof held on the 21st day of July, 1987. 2. That said meeting was duly convened and held in all respects in accordance with law, and to the extent required by law, due and proper notice of such meeting was given; that a legal quorum was present throughout the meeting and a legally sufficient number of members of the Council voted in the proper manner for the passage of said Ordinance; that all other require- ments and proceedings incident to the proper passage of said Ordinance have been duly fulfilled, carried out and otherwise observed; and that I am authorized to execute this certificate. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City this ~¥~ day of July, 1987. City Clerk