HomeMy WebLinkAboutOrd 2465 - $3,850,000 Limited Tax General Obligation Bonds with Zions Bank (Urban Renewal Land Acquisition and Redevelopment)City of'Tukwila
Washington
Cover page to Ordinance 2465
The full text of the ordinance follows this cover page.
ANi ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, RE ' LATING TO CONTRACTING
INDEBTEDNESS; PROVIDING FOR THE ISSUANCE, SALE AND
DELIVERY OF $3,860,000 AGGREGATE PRINCIPAL AMOUNT OF
LIMITED TAX GENERAL 01311-11GATION BONDS 'TO PROVIDE
FUNDS TO CARRY OUT' LAND ACQUISITION AND CAPITAL
COSTS OF REDEVELOPMENT ACTIVITIES WITHIN THE CITY'S
URBAN RENEWAL AREA, AND TO PAY THE COSTS OF
ISSUANCE AND SALE OF THE IBONDS; FIXING CERTAIN TERMS
AND COVENANTS OF THE BONDS; AND PROVIDING FOR
OTHER RELATED MATTERS; PROVIDING FOR SEVERABILITY;
AND ESTABLISHING AN EFFECTIVE DATE.
Ordinance 2465 was amended or repealed by the
following ordinances.
V=1U=F11Iq
Section(s) I I 7Sectionl(s) Amended, - Amiended,byOrd# I 7Sectioh(s),RepeAled , ''IRlepealed,by Ord #
Exhibit i77 - — 7 _
Exh7ibit A 2472
Citv of Tukwila
Washington
Ordinance No. 2465
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, RELATING TO CONTRACTING
INDEBTEDNESS; PROVIDING FOR THE ISSUANCE, SALE AND
DELIVERY OF $3,850,000 AGGREGATE PRINCIPAL AMOUNT OF
LIMITED TAX GENERAL OBLIGATION BONDS TO PROVIDE
FUNDS TO CARRY OUT LAND ACQUISITION AND CAPITAL
COSTS OF REDEVELOPMENT ACTIVITIES WITHIN THE CITY'S
URBAN RENEWAL AREA, AND TO PAY THE COSTS OF
ISSUANCE AND SALE OF THE BONDS; FIXING CERTAIN TERMS
AND COVENANTS OF THE BONDS; AND PROVIDING FOR
OTHER RELATED MATTERS; PROVIDING FOR SEVERABILITY;
AND ESTABLISHING AN EFFECTIVE DATE.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY ORDAINS AS FOLLOWS:
Section 1. Findings and Determinations. The City takes note of the following
facts and makes the following findings and determinations:
(a) Authority and Description of Project. The City has previously passed
Ordinance No. 1898 designating an urban renewal area and finding that certain blighted
property exists within that area requiring the exercise of community renewal powers
under Chapter 35.81 RCW. The City is in need of funds to carry out those community
renewal powers including, but not limited to, land acquisition, demolition, site
preparation and other related redevelopment powers and costs incidental thereto. The
City Council therefore finds that it is in the best interests of the City to issue the Bonds
to finance the Project.
(b) Plan of Financing. Pursuant to applicable law, including, without limitation,
Chapters 35.37, 35.81, 35A.40, 39.36, 39.44 and 39.46 RCW, the City is authorized to
issue general obligation bonds for the purpose of financing the Project. The total
expected cost of the Project is approximately $6,100,000, which is expected to be made
up of proceeds of the Bonds, loans, grants and other available money of the City.
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(c) Debt Capacity. The maximum amount of indebtedness authorized by this
ordinance is $3,850,000. Based on the following facts, this amount is to be issued
within the amount permitted to be issued by the City for general municipal purposes
without a vote:
(1) The assessed valuation of the taxable property within the City as
ascertained by the last preceding assessment for City purposes for collection in the
calendar year 2014 is $4,756,373,688.
(2) As of November 1, 2014, the City has limited tax general obligation
indebtedness, consisting of bonds, notes, leases and conditional sales contracts
outstanding in the principal amount of $21,307,728, which is incurred within the limit of
up to 11/2% of the value of the taxable property within the City permitted for general
municipal purposes without a vote.
(3) As of November 1, 2014, the City has no unlimited tax general obligation
indebtedness for general municipal purposes; for City-owned water, artificial light, and
sewers; and for acquiring or developing open space, park facilities, and capital facilities
associated with economic development.
(d) The Bonds. For the purpose of providing the funds necessary to carry out the
Project and to pay the costs of issuance and sale of the Bonds, the City Council finds
that it is in the best interests of the City and its taxpayers to issue and sell the Bonds to
the Purchaser, pursuant to the terms set forth in the Bond Purchase Agreement
consistent with this ordinance.
Section 2. Definitions. As used in this ordinance, the following capitalized terms
shall have the following meanings:
(a) "Authorized Denomination" means $1,000 or any integral multiple thereof within
a maturity.
(b) "Bond' means each bond issued pursuant to and for the purposes provided in
this ordinance.
(c) "Bond Counser means the firm of Foster Pepper PLLC, its successor, or any
other attorney or firm of attorneys selected by the City with a nationally recognized
standing as bond counsel in the field of municipal finance.
(d) "2014 Bond Accounr means the Limited Tax General Obligation Bond Account,
2014, of the City created for the payment of the principal of and interest on the Bonds.
(e) "Bond Purchase Agreemenr means an offer to purchase the Bonds, setting
forth certain terms and conditions of the issuance, sale and delivery of those Bonds,
which offer the designated representative is authorized to accept if consistent with this
ordinance.
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(f) "Bond Register" means the books or records maintained by the Bond Registrar
for the purpose of identifying ownership of each Bond.
(g) "Bond Registrar" means the Fiscal Agent, or any successor bond registrar
selected by the City.
(h) "City' means the City of Tukwila, Washington, a municipal corporation duly
organized and existing under the laws of the State.
(i) "City Councir means the legislative authority of the City, as duly and regularly
constituted from time to time.
(j) "Code" means the United States Internal Revenue Code of 1986, as amended,
and applicable rules and regulations promulgated thereunder.
(k) "Finance Director" means the Finance Director or such other officer of the City
who succeeds to substantially all of the responsibilities of that office.
(I) "Fiscal Agent" means the fiscal agent of the State, as the same may be
designated by the State from time to time.
(m) "Issue Date" means, with respect to a Bond, the date of initial issuance and
delivery of that Bond to the Purchaser in exchange for the purchase price of that Bond.
(n) "MSRB" means the Municipal Securities Rulemaking Board.
(o) "Projecr means capital expenditures relating to the exercise of community
renewal powers under chapter 35.81 RCW within the urban renewal area designated by
the City in Ordinance No. 1898, including but not limited to land acquisition, demolition,
site preparation and other redevelopment activities, and any incidental costs associated
with the foregoing, all as deemed necessary and advisable by the City Council. The
term "land" includes all real property and all appurtenant improvements, structures and
interests therein.
(p) "Purchaser" means Zions First National Bank of Salt Lake City, Utah.
(q) "Record Date" means the Bond Registrar's close of business on the 15th day of
the month preceding an interest payment date. With respect to redemption of a Bond
prior to its maturity, the Record Date shall mean the Bond Registrar's close of business
on the date on which the Bond Registrar sends the notice of redemption in accordance
with Section 8.
(r) "Registered Owner" means, with respect to a Bond, the person in whose name
that Bond is registered on the Bond Register.
(s) "State" means the State of Washington.
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(t) "System of Registration" means the system of registration for the City's bonds
and other obligations set forth in Ordinance No. 1338 of the City.
(u) "Term Bond' means each Bond designated as a Term Bond and subject to
mandatory redemption in the years and amounts set forth in the Bond Purchase
Agreement.
(v) "Urban Renewal Project Fund' means the Facilities Fund 302 of the City
created for the purpose of carrying out the Project.
Section 3. Authorization and Description of Bonds. The City is authorized to
borrow money on the credit of the City and issue negotiable limited tax general
obligation bonds evidencing indebtedness in the aggregate principal amount of
$3,850,000 to provide funds necessary to carry out the Project and to pay the costs of
issuance and sale of the Bonds. The proceeds of the Bonds allocated to paying the
cost of the Project shall be deposited as set forth in Section 7 of this ordinance and shall
be used to carry out the Project, or a portion of the Project, in such order of time as the
City determines is advisable and practicable.
The Bonds shall be called the City of Tukwila, Washington, Limited Tax General
Obligation Bonds, 2014 (Taxable), and shall be issued in the aggregate principal
amount of $3,850,000. The Bonds shall be dated the Issue Date; shall be issued in
Authorized Denominations; and shall be numbered separately in the manner and with
any additional designation as the Bond Registrar deems necessary for purposes of
identification.
The Bonds are serial and term in form and shall mature on the dates and in the
principal amounts set forth in Exhibit A, which is attached to this ordinance and
incorporated by this reference. The Bonds shall bear interest at the fixed rates per
annum, which shall reset as set forth in Exhibit A, and are payable on the dates set forth
in Exhibit A. Interest on the Bonds will be paid on each June 1 and December 1,
beginning June 1, 2015. Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months.
Section 4. Bond Registrar; Registration and Transfer of Bonds.
(a) Registration of Bonds. Each Bond shall be issued only in registered form as
to both principal and interest and the ownership of each Bond shall be recorded on the
Bond Register. The Bonds will be initially registered in the name of the Purchaser and
will not be registered through a securities depository.
(b) Bond Registrar; Duties. The Fiscal Agent is appointed as initial Bond
Registrar. The Bond Registrar shall keep, or cause to be kept, sufficient books for the
registration and transfer of the Bonds, which shall be open to inspection by the City at
all times. The Bond Registrar is authorized, on behalf of the City, to authenticate and
deliver Bonds transferred or exchanged in accordance with the provisions of the Bonds
and this ordinance, to serve as the City's paying agent for the Bonds and to carry out all
of the Bond Registrar's powers and duties under this ordinance and the System of
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Registration. The Bond Registrar shall be responsible for its representations contained
in the Bond Registrar's Certificate of Authentication on each Bond. The Bond Registrar
may become an owner with the same rights it would have if it were not the Bond
Registrar and, to the extent permitted by law, may act as depository for and permit any
of its officers or directors to act as members of, or in any other capacity with respect to,
any committee formed to protect the rights of owners.
(c) Bond Register; Transfer and Exchange. The Bond Register shall contain the
name and mailing address of each Registered Owner and the principal amount and
number of each Bond held by each Registered Owner. A Bond surrendered to the
Bond Registrar may be exchanged for a Bond or Bonds in any Authorized
Denomination of an equal aggregate principal amount and of the same interest rate and
maturity. A Bond may be assigned or transferred only in Authorized Denominations and
only if endorsed in the manner provided thereon and surrendered to the Bond Registrar,
accompanied by the representations of the transferor as set forth thereon. Any such
transfer shall be without cost to the owner or transferee and shall be noted in the Bond
Register. The Bond Registrar shall not be obligated to transfer the Registered
Ownership of a Bond during the 15 days preceding any principal or interest payment
date or any prepayment date.
Section 5. Form and Execution of Bonds.
(a) Form of Bonds; Signatures and Seal. Each Bond shall be prepared in a form
consistent with the provisions of this ordinance and State law. Each Bond shall be
signed by the Mayor and the City Clerk, either or both of whose signatures may be
manual or in facsimile, and the seal of the City or a facsimile reproduction thereof shall
be impressed or printed thereon. If any officer whose manual or facsimile signature
appears on a Bond ceases to be an officer of the City authorized to sign bonds before
the Bond bearing his or her manual or facsimile signature is authenticated by the Bond
Registrar, or issued or delivered by the City, that Bond nevertheless may be
authenticated, issued and delivered and, when authenticated, issued and delivered,
shall be as binding on the City as though that person had continued to be an officer of
the City authorized to sign bonds. Any Bond also may be signed on behalf of the City
by any person who, on the actual date of signing of the Bond, is an officer of the City
authorized to sign bonds, although he or she did not hold the required office on its Issue
Date.
(b) Authentication. Only a Bond bearing a Certificate of Authentication in
substantially the following form, manually signed by the Bond Registrar, shall be valid or
obligatory for any purpose or entitled to the benefits of this ordinance: "Certificate of
Authentication. This Bond is one of the fully registered City of Tukwila, Washington,
Limited Tax General Obligation Bonds, 2014 (Taxable), described in the Bond
Ordinance." The authorized signing of a Certificate of Authentication shall be
conclusive evidence that the Bond so authenticated has been duly executed,
authenticated and delivered and is entitled to the benefits of this ordinance.
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Section 6. Payment of Bonds. Both principal of and interest on each Bond shall
be payable in lawful money of the United States of America. Interest on each Bond is
payable by electronic transfer on the interest payment date, or by check or draft of the
Bond Registrar mailed on the interest payment date to the Registered Owner at the
address appearing on the Bond Register on the Record Date. Principal of each Bond is
payable upon presentation and surrender of the Bond by the Registered Owner to the
Bond Registrar. The Bonds are not subject to acceleration under any circumstances.
Section 7. Funds and Accounts; Deposit of Proceeds.
(a) 2014 Bond Account. The 2014 Bond Account is created within the City's
general obligation bond repayment fund for the sole purpose of paying principal of and
interest on the Bonds. Bond proceeds in excess of the amounts needed to pay the
costs of the Project and the costs of issuance, if any, shall be deposited into the 2014
Bond Account. All amounts allocated to the payment of the principal of and interest on
the Bonds shall be deposited in the 2014 Bond Account as necessary for the timely
payment of amounts due with respect to the Bonds. The principal of and interest on the
Bonds shall be paid out of the 2014 Bond Account. Until needed for that purpose, the
City may invest money in the 2014 Bond Account temporarily in any legal investment,
and the investment earnings shall be retained in the 2014 Bond Account and used for
the purposes of that fund.
(b) Project Fund. The Project Fund has been previously created as a fund of the
City for the purpose of paying the costs of the Project. Proceeds received from the sale
and delivery of the Bonds shall be deposited into the Project Fund and used to pay the
costs of the Project and costs of issuance of the Bonds. Until needed to pay such
costs, the City may invest those proceeds temporarily in any legal investment, and the
investment earnings shall be retained in the Project Fund and used for the purposes of
that fund, except that earnings subject to a federal tax or rebate requirement (if
applicable) may be withdrawn from the Project Fund and used for those tax or rebate
purposes.
Section 8. Redemption and Purchase of Bonds.
(a) Optional Redemption and Notice. The Bonds maturing on or after
December 1, 2019 shall be subject to redemption at the option of the City as set forth in
Exhibit A at any time upon written notice to the Registered Owner or Owners of the
Bonds to be redeemed, given at least 30 days prior to the date set for redemption.
(b) Mandatory Redemption. The Term Bond maturing in 2034 shall be redeemed
in annual installments of principal, plus accrued interest, on the dates and in the
amounts as set forth in Exhibit A. If the City opts to redeem any portion of the principal
amount of the Term Bond under the optional redemption provisions of subsection (a),
above, such optional redemption shall be credited against one or more scheduled
mandatory redemption installments for that Term Bond in the manner determined by the
City. The City shall notify the Bond Registrar in writing of its allocation of such credit
prior to the next principal installment payment date.
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(c) Selection of Bonds for Redemption; Partial Redemption. If fewer than all of
the outstanding Bonds are to be redeemed under the optional redemption provisions in
subsection (a), above, the City shall select the maturities to be redeemed. All or a
portion of the principal amount of any Bond that is to be redeemed may be redeemed in
any Authorized Denomination. If less than all of the outstanding principal amount of any
Bond is redeemed, upon surrender of that Bond to the Bond Registrar, there shall be
issued to the Registered Owner, without charge, a new Bond (or Bonds, at the option of
the Registered Owner) of the same maturity and interest rate in any Authorized
Denomination in the aggregate principal amount to remain outstanding.
Section 9. Failure To Pay Bonds. If the principal of any Bond is not paid when
the Bond is properly presented at its maturity or date fixed for redemption, the City shall
be obligated to pay interest on that Bond at the same rate provided in the Bond from
and after its maturity or date fixed for redemption until that Bond, both principal and
interest, is paid in full or until sufficient money for its payment in full is on deposit in the
2014 Bond Account, or in a trust account established to refund or defease the Bond,
and the Bond has been called for payment by giving notice of that call to the Registered
Owner.
Section 10. Pledge of Taxes. The Bonds constitute a general indebtedness of
the City and are payable from tax revenues of the City and such other money as is
lawfully available and pledged by the City for the payment of principal of and interest on
the Bonds. For as long as any of the Bonds are outstanding, the City irrevocably
pledges that it shall, in the manner provided by law within the constitutional and
statutory limitations provided by law without the assent of the voters, include in its
annual property tax levy amounts sufficient, together with other money that is lawfully
available, to pay principal of and interest on the Bonds as the same become due. The
full faith, credit and resources of the City are pledged irrevocably for the prompt
payment of the principal of and interest on the Bonds and such pledge shall be
enforceable in mandamus against the City.
Section 11. Sale and Delivery of the Bonds.
(a) Approval of Bond Purchase Agreement; Delivery of Bonds. The Finance
Director is appointed as the City's designated representative authorized to accept an
offer to purchase the Bonds pursuant to the terms of a written Bond Purchase
Agreement, to be presented to the City by the Purchaser if such agreement is
consistent with the terms described herein, and with such additional terms and
covenants as she deems advisable.
(b) Preparation, Execution and Delivery of the Bonds. The Bonds will be
prepared at City expense and will be delivered to the Purchaser in accordance with the
Bond Purchase Agreement, together with the approving legal opinion of Bond Counsel
regarding the Bonds.
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Section 12. Financial Reporting Requirements. The City agrees to provide to
the Purchaser:
(i) via the Electronic Municipal Market Access ("EMMA") system of the
Municipal Securities Rulemaking Board (the "MSRB"), its annual financial
statements by September 30 of each year prepared (except as noted in the
financial statements) in accordance with applicable generally accepted
accounting principles applicable to local governmental units of the State of
Washington such as the City, as such principles may be changed from time to
time, which statements may be unaudited, provided, that if and when audited
financial statements are prepared and available they will be provided; and
(ii) directly to the Purchaser, such additional financial information as the
Purchaser may reasonably request.
Notwithstanding the foregoing, the City and Purchaser agree and acknowledge that
this paragraph does not and is not intended to constitute an "undertaking" to provide
continuing disclosure under Rule 15c-2(12) of the United States Securities and
Exchange Commission, and the Issuer makes no representation regarding its prior
compliance with any such undertaking that it may have entered into with respect to its
outstanding bonds and obligations.
Section 13. General Authorization and Ratification. The appropriate officers of
the City are severally authorized to take such actions and to execute such documents
as in their judgment may be necessary or desirable to carry out the transactions
contemplated in connection with this ordinance, and to do everything necessary for the
prompt delivery of the Bonds to the Purchaser and for the proper application, use and
investment of the proceeds of the Bonds. All actions taken prior to the effective date of
this ordinance in furtherance of the purposes described in this ordinance and not
inconsistent with the terms of this ordinance are ratified and confirmed in all respects.
Section 14. Corrections by City Clerk or Code Reviser. Upon approval of the
City Attorney, the City Clerk and the code reviser are authorized to make necessary
corrections to this ordinance, including the correction of clerical errors; references to
other local, state or federal laws, codes, rules, or regulations; or ordinance numbering
and section/subsection numbering.
Section 15. Severability. The provisions of this ordinance are declared to be
separate and severable. If a court of competent jurisdiction, all appeals having been
exhausted or all appeal periods having run, finds any provision of this ordinance to be
invalid or unenforceable as to any person or circumstance, such offending provision
shall, if feasible, be deemed to be modified to be within the limits of enforceability or
validity. However, if the offending provision cannot be so modified, it shall be null and
void with respect to the particular person or circumstance, and all other provisions of
this ordinance in all other respects, and the offending provision with respect to all other
persons and all other circumstances, shall remain valid and enforceable.
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Section 16. Effective Date. This ordinance or a summary thereof shall be
published in the official newspaper of the City, and shall take effect and be in full force
five days after passage and publication as provided by law.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at
a Regular Meeting thereof this I ST day of De, co, bR.c , 2014.
ATTEST/AUTHENTICATED:
Christy O'Flah rty, MMC, City CI
APPROVED AS TO FORM BY:
Bond Counsel
Filed with the City Clerk: 1 -1 W
Passed by the City Council:
Published: 1 - -/
Effective Date:
Ordinance Number: ;)14 bc
Attachment: Exhibit A, Description of the Bonds
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Exhibit A
EXHIBIT A
DESCRIPTION OF THE BONDS
(a) Principal Amount: G3.850.000
(b) Purchase Price: $3,850,000 (par amount of the Bonds)
(c) Interest Payment Dates: June 1 and December 1, commencing June 1, 2015.
(d) Maturity and Interest Rates: The Bonds shall mature on the dates and bear interest at
the initial rates (computed on the basis of a 360day year of
twelve 30day months), as fotiows:
City of Tukwila, Washington
Limited Tax General Obligation Bonds, 2014 (Taxable)
Maturity Principal Interest Maturity Principal Interest
(Dec 1) Amount Rate (Dec 1) Amount Rate
2015 $141'000 0.85% 2021 $ 185.000 3.93%
2018 148.000 1.17 2022 172.000 4.32
2017 150'000 1.60 2023 179'000 4.63
2018 153,000 2.17 2024 187,000 4.86
2019 156'000 2.67 ^°°
2020 160'000 3.26 2034 2,238,000 2.85(1)
(1) Commencing January 1, 2019. interest on those Bonds maturing December 1, 2034, will
be adjusted to the 5-year Advance Fixed Bullet Rate, as quoted by the Seattle Federal
Loan Bank from time to dme, divided by 0.65. which will remain in effect through and
including December 31, 2024. Commencing January 1, 2025. interest on those Bonds
maturing December 1, 2034. will be adjusted to the 5-year Advance Fixed Bullet Rabe, as
quoted by the Seattle Federal Loan Bank from time to time, divided by 0.65. which will
remain in effect through and including December 31, 2029. Commencing January 1, 2030,
interest on those Bonds maturing December 1, 2034. will be adjusted to the 5-year
Advance Fixed Bullet Rate, as quoted by the Seattle Federal Loan Bank from time to time,
divided by 0.65. which will remain in effect through and including December 1, 2034.
(e) Optional Redemption: The Bonds maturing on and after December 1, 2020. are
subject to redemption in whole or in part on or after
December 1, 2019, without penalty at any time, upon 30 days
written notice to the Registered Owner(s) of the Bond(s) to be
redeemed.
(f) Mandatory Redemption: The Bond due on December 1, 2034 will be paid in annual
principal insbaUmenhs, plus accrued interest, on December 1
in the years and amounts as foliows:
Term Bonds Maturing 2034
Mandatory Mandatory
Redemption Redemption
Years Amounts
2025 $187'000
2026 202.000
2027 208,000
2028 214'000
2029 220'000
2030 226'000
2031 233'000
2032 239.000
2033 248.000
2034^ 253,000
*Maturity.
CERTIFICATION
I, the undersigned, City Clerk of the City of Tukwila, Washington (the "City "), hereby
certify as follows:
1. The attached copy of Ordinance No. 6.5(the "Ordinance ") is a full, true and
correct copy of an ordinance duly passed at a regular meeting of the City Council of the
City held at the regular meeting place thereof on December 1, 2014, as that ordinance
appears on the minute book of the City.
2. The Ordinance will be in full force and effect five days after publication in the
City's official newspaper, which publication date is December 4, 2014.
3. A quorum of the members of the City Council was present throughout the
meeting and a majority of the members voted in the proper manner for the passage of
the Ordinance.
Dated: December 1, 2014.
CITY OF TUKWILA, WASHINGTON
Christy O'Flahert , MMC, City Clerk
Zions Bank
City of Tukwila Public Notice of Ordinance Adoption for Ordinances 2460 -2466.
On December 1, 2014 the City Council of the City of Tukwila, Washington, adopted the
following ordinances, the main points of which are summarized by title as follows:
Ordinance 2460: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON GRANTING A NON - EXCLUSIVE FRANCHISE TO
MCLEODUSA TELECOMMUNICATIONS SERVICES, LLC, LEGALLY AUTHORIZED
TO CONDUCT BUSINESS IN THE STATE OF WASHINGTON, FOR THE PURPOSE
OF CONSTRUCTING, OPERATING, AND MAINTAINING A TELECOMMUNICATIONS
SYSTEM IN CERTAIN PUBLIC RIGHTS -OF -WAY IN THE CITY; REPEALING
ORDINANCE NO. 1925; PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN
EFFECTIVE DATE.
Ordinance 2461: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, WASHINGTON, REPEALING VARIOUS ORDINANCES AS
CODIFIED AT TUKWILA MUNICIPAL CODE CHAPTER 5.44, "TOW TRUCK
BUSINESSES;" PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN
EFFECTIVE DATE.
Ordinance 2462: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, WASHINGTON; ESTABLISHING AN EXEMPTION FROM
REAL PROPERTY TAXATION FOR DEVELOPMENT OF QUALIFIED MULTI - FAMILY
HOUSING; ESTABLISHING NEW REGULATIONS TO BE CODIFIED IN TUKWILA
MUNICIPAL CODE CHAPTER 3.90 RELATING TO THE DESIGNATION OF A
RESIDENTIAL TARGETED AREA WITHIN THE TUKWILA URBAN CENTER;
PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE.
Ordinance 2463: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, AMENDING ORDINANCE NOS. 2298 §1 (PART) AND 2258
§3, AS CODIFIED AT TUKWILA MUNICIPAL CODE SECTION 3.54.030, EXTENDING
THE CITY UTILITY TAX SUNSET PROVISION; PROVIDING FOR SEVERABILITY; AND
ESTABLISHING AN EFFECTIVE DATE.
Ordinance 2464: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, RELATING TO CONTRACTING INDEBTEDNESS;
AUTHORIZING THE ISSUANCE OF THE CITY'S NOT TO EXCEED $2,250,000
PRINCIPAL AMOUNT LIMITED TAX GENERAL OBLIGATION BOND ANTICIPATION
NOTE, 2014 (TAXABLE NON - REVOLVING LINE OF CREDIT), TO PROVIDE INTERIM
FINANCING TO CARRY OUT LAND ACQUISITION AND CAPITAL COSTS OF
REDEVELOPMENT ACTIVITIES WITHIN THE CITY'S URBAN RENEWAL AREA, AND
PAY THE COSTS OF ISSUANCE AND SALE OF THE NOTE; FIXING THE DATE,
FORM, MATURITY, INTEREST RATE, TERMS AND COVENANTS OF THE NOTE;
APPROVING THE SALE AND DELIVERY OF THE NOTE TO THE BANK IDENTIFIED
HEREIN; PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN EFFECTIVE
DATE.
Ordinance 2465: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, RELATING TO CONTRACTING INDEBTEDNESS;
PROVIDING FOR THE ISSUANCE, SALE AND DELIVERY OF $3,850,000
AGGREGATE PRINCIPAL AMOUNT OF LIMITED TAX GENERAL OBLIGATION
BONDS TO PROVIDE FUNDS TO CARRY OUT LAND ACQUISITION AND CAPITAL
COSTS OF REDEVELOPMENT ACTIVITIES WITHIN THE CITY'S URBAN RENEWAL
AREA, AND TO PAY THE COSTS OF ISSUANCE AND SALE OF THE BONDS; FIXING
CERTAIN TERMS AND COVENANTS OF THE BONDS; AND PROVIDING FOR OTHER
RELATED MATTERS; PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN
EFFECTIVE DATE.
The full text of these ordinances will be provided upon request.
Christy O'Flaherty, MMC, City Clerk
Published Seattle Times: December 4, 2014