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12-143 <br /> Council Approval 11/19/12 <br /> INTERLOCAL AGREEMENT <br /> by and between <br /> CITY OF TUKWILA and TUKWILA METROPOLITAN PARK DISTRICT <br /> This Agreement, dated this /9*" day of N6ywItho., , 2012, is entered into by and <br /> between the City of Tukwila, Washington (the "City"), a code city organized under the laws of <br /> the State of Washington, and the Tukwila Metropolitan Park District ("TMPD"), a municipal <br /> corporation organized under the authority of Chapter 35.61 RCW (collectively, the "Parties"). <br /> This agreement is entered into under the authority of RCW 35.61.290, .300 and 67.20.010. <br /> NOW, THEREFORE, the Parties agree as follows: <br /> Section 1. Recitals—Purpose of Agreement <br /> 1.1. The City of Tukwila is a code city operating under chapter 35A RCW and <br /> other applicable state law, and the Tukwila Metropolitan Park District is a municipal <br /> corporation created pursuant to a vote of the people held in August 16, 2011 under <br /> chapter 35.61 RCW with responsibility for ownership and operation of the Tukwila <br /> Pool. <br /> 1.2. The City and the TMPD are in need of funds with which to undertake <br /> needed improvements, repairs and upgrades to the pool and related facilities owned <br /> and operated by the TPMPD (the "Pool Improvement Project" or the "Project"), all as <br /> more specifically described in Exhibit A, which is incorporated by this reference. <br /> 1.3. RCW 67.20.010 authorizes "Any city...any separately organized park <br /> district...shall have power, acting independently or in conjunction with...[any] city, <br /> [or] park district...to build, construct, care for, control, supervise, improve, operate <br /> and maintain parks, playgrounds, gymnasiums, swimming pools, field houses and <br /> other recreational facilities...". <br /> 1.4. RCW 35.61.290 authorizes the City and the TMPD to "enter into an <br /> agreement embodying such terms and conditions of any such grant or loan [to provide <br /> for the continuous operation, maintenance and/or improvement of metropolitan park <br /> district property] as may be mutually agreed upon." <br /> 1.5. The City Council finds that is likely to result in the lowest cost of <br /> borrowing and is in the best interests of the City to issue bonds and to loan the <br /> proceeds of those bonds to the TMPD to carry out the Pool Improvement Project. <br /> 1.6. RCW 35.61.100 provides that the limitation on nonvoter approved general <br /> obligation indebtedness is equal to 0.25% of the value of the taxable property in the <br /> metropolitan park district, which available debt capacity is currently $11,509,975.65, <br /> based on the 2012 assessed valuation of$4,603,990,258. The TMPD currently has no <br /> nonvoter approved general obligation indebtedness outstanding. The indebtedness <br /> created under this Agreement is incurred within the TMPD's available debt capacity. <br /> S+ )J JL 6y'&"� <br /> FINAL-11/14/12 PAGE 1 <br />