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HomeMy WebLinkAboutOrd 0532 - General Obligation (GO) Bonds for Public Arterial Highway Facilities ��J,tivnLA M4 s 4 DO6 CITY OF TUK WASHINGTON ORDINANCE NO. 532 AN ORDINANCE of the City of Tukwila authorizing the execution of a contract with King County providing for receipt and application of a portion of the proceeds of certain general obligation bonds of the county and designating the King County Design Commission to serve as the design commission of the city for projects acquired or constructed with said proceeds. WI-EMS, King County, Washington, has been authorized by the voters of the County to issue its General Obligation Bonds in the principal amount of not to exceed 0,600,000 in series from time to time to provide funds to pay the cost of acquisition and development of public arterial highway facilities within the city; and WHEREAS, Resolution No. 34569 of the Board of County Commissioners provides that certain arterial highway facilities shall be acquired and /or developed by the several cities in the County and requires that each such city first enter into an agreement with the county that the proceeds shall be faithfull applied to the purpose authorized by such resolution; and WHEREAS, it is in the best interests of the city and the residents thereof and necessary for the public health, welfare and safety that the city accomplish the arterial highway purposes set forth in said Resolution No. 34569 to be performed by the city and that the city enter into such agreement and take such other action as may be necessary to comply with the terms and conditions of such agreement; NOW, THEREFORE, BE IT ORDAINED by the City of Tukwila as follows: Section 1. The City shall enter into an agreement with King County, Exhibit A, attached hereto and by this reference :jade a part hereof and the Mayor and Clerk are authorized to execute said agreement for and on behalf of the City. 1 Section 2. The appropriate officers and agents of the city are hereby authorized and directed to do all things necessary to accomplish the development of arterial highway facilities for which moneys shall become available pursuant to the agreement authorized by this Ordinance. Section 3. The King County Design Commission is hereby authorized to act for and on behalf of the city to recommend the selection of nenbers of the design team to be employed by the city for the planning and design of any structures or surface development work to be accomplished by the city with the funds provided from the sale of bonds issued pursuant to Resolution Igo. 34569 of King County and to review the plans and specifications for such structures or work. The project shall reimburse the county +s actual cost attributed to the project. Section 4. This ordinance shall take effect and be in force five days from and after its passage and approval. PAS= by the City Council of the City of Tukwila, Washington and approved by its Mayor at a regular meeting of said council held this day of 4a �e _1ems/ 1968. MAYOR ATTEST: APPROVED AS TO FORM: 6 411-6-1 744 EXHIBIT A AG' ENT In consideration of the mutual covenants herein, King County (hereinafter called the "County") and the City of Tukwila, Washington (hereinafter called the "City agree as fo11ows: 1. The County shall deliver to the City in the ordinary course of business after receipt of the proceeds of each series of general obligation bonds of the County contemplated to be issued pursuant to Resolution No. 34569 of the County. 2. The City shall apply said money to the purposes authorized in said Resolution No. 34569 and Resolution No. 35555 in the manner and subject to the conditions provided in said resolutions; shall operate and maintain all facilities acquired, construct, developed or improved with said money; shall defend and save the County harmless from any claim of damage resulting from the acquisition, construction, development, improvement, operation, maintenance, repair, replacement or public use of such facilities; and shall perform or comply with all conditions of said Resolution No. 34569 and Resolution No. 3555 contemplated by said resolutions to be perforraed or complied with by agencies to which the proceeds of bonds issued pursuant to such resolutions have been allocated and delivered. DATED this 4P day of 1 968. KING CO 40 CITY OF TUKWIIA, WASHINGTON mayor ATTEST: 61-Z/ j City Clerk 6://‘4,62,1_az-c,)