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HomeMy WebLinkAboutOrd 0320 - Water and Sewer Revenue Bonds for Waterworks Utility TOWN OF TUKWILA, WASHINGTON ORDINANCE NO. 320 Z v AN ORDINANCE specifying and adopting a system or plan for a system of sewerage for the Town of Tukwila, Washington, all to be- come a part of the waterworks utility of the Town; declaring the estimated cost thereof as nearly as may be; providing for the issuance and sale of not to exceed 133,000.00 par value of water and sewer revenue bonds to provide a part of the funds required to pay the cost thereof; declaring the intention of the Town Council to form a local improvement district, the property therein to be assessed to the extent of not to exceed $56,000.00 of the cost of the improvement; and creating a special fund to provide for the payment of said water and sewer revenue bonds. BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF TUKWILA, WASHINGTON, as follows: Section 1. The Town of Tukwila is operating its own municipal water system and extensive developments are contemplated within the areas of the Town of Tukwila commonly known as the "Southcenter Regional Shopping Center" and "Andover Industrial Park," and the public health would be endangered by the discharge of raw or untreated sewage from such areas into the Green River, and the danger to the public health will be abated by the con- struction, maintenance and operation of an adequate sewage dis- posal plant for which no general indebtedness shall be incurred, and the public interest, welfare and convenience and the health of the inhabitants of the Town of Tukwila require, and it is advisable, that an adquate system of sewerage be constructed and acquired. The system of sewerage hereinafter described shall, therefore, be constructed pursuant to Section 35.67.320 of the Revised Code of Washington, said system of sewerage, including any additions, extensions and betterments thereto at any time made or constructed, shall become a part of the municipal R f 41E. E X33 water system of the Town, and the cost of construction, maintenance and operation of such sewerage system shall be chargeable to the waterworks system of the Town. The public interest, welfare and convenience and the health of the inhabitants of the Town of Tukwila require, and it is advisable, that such sewerage system be constructed and acgaired. Said combined waterworks system and system of sewerage shall hereinafter be referred to as the "water works utility of the Town." Section 2. The Town of Tukwila, Washington, hereby specifies and adopts a system or plan for acquiring and construct- ing a system of sewerage, including a system of sewers, outfalls, works, plants and facilities for sewage treatment and disposal, all to become a part of the waterworks utility of the Town, to consist of the following: (1) There shall be constructed and installed a gravity sewage collection system, consisting of laterals of the following approximate described size in, on, along, and over or under the follow- ing- described streets and roads: Approx. On From To Pipe Size 67th Avenue So. South 158th Street South 164th Street 8" South 164th St. West Bank of Green 67tH. Avenue South 8" River South 164th St. 67th Avenue South 63rd Avenue South 12" 63rd Avenue So. South 158th Street South 162nd St. 12" 15" (2) There shall be constructed and installed a sewage lift station, complete with pumps, motors, electrical controls and other appurtenances as required, at or in the near vicinity of the intersection of South 164th and 63rd Avenue South. (3) There shall be constructed a sewage treatment plant consisting of a stabilization pond, together with comminutor, flow- measuring device, chlorinator and chlorine detention chamber, auxiliary effluent pump for high river conditions, control house and chlorinator build- ing, and other appurtenances necessary for -2 operation, with an 8" discharge line and outfall into the Green River, the said stabilization pond to be constructed on the E 272.25 feet of the N 800 feet of the NW 4 of the SE of Sec- tion 26, Twp. 23 N, R 4 E, W.M., containing 5.0 acres more or less, and the said discharge line to be constructed on an easement on the S 30 feet of the SE 7 of the NE of Sec. 26, Twp. 23 N, R 4 E W.M., and the S 30 feet of the SW of the NW IT of Sec. 25, Twp. 23 N, R 4 E, W.M. to the west bank of the Green River. (4) The treatment plant above provided for shall be connected to the sewage collection system above provided for with a pressure sewer line located and sized as follows: Approx. On From To Pipe Size Easement (the South 164th Street Stage I Stabiliza- 8" E. 30 ft. of tion Pond (the NE the SW of corner of the NW the NE IT of 26, Twp. of Sec. Sec. Sec. 26, Twp. p 23 N R 4 E, E, W.M.) W.M.) There shall be included the acquisition and installa- tion of all of the necessary valves, fittings, couplings,con- nections, equipment and appurtenances and the acquisition of any easements and rights of way and land that may be required; and there shall be included the performance of such work as may be incidental and necessary to the foregoing construction and installation. The Town of Tukwila may modify the details of the fore- going system or plan, provided such modifications are deemed necessary or advisable in the judgment of the Town Council and will not substantially modify the functioning of the system. Section 3. The gross revenues and benefits to be derived from the operation and maintenance of the waterworks utility of the Town, including said system of sewerage to be constructed and acquired at the rates to be charged for water and sanitary sewage disposal service will in the judgment of the Town Council be more than sufficient to meet all expenses -3- of operation and maintenance thereof and to permit the setting aside into a special fund out of the gross revenues of said utility of an amount sufficient to pay the interest upon the water and sewer revenue bonds herein authorized to be issued as such interest becomes payable and to pay and redeem all of said bonds at maturity. Section 4. The life of the foregoing system of sewer- age to be acquired and constructed, all to become a part of the waterworks utility of the Town, is hereby declared to be at least thirty (30) years. Section 5. The estimated cost, as near as may be, of the aforesaid system or plan for constructing and acquiring a system of sewerage, all to become a part of the waterworks utility of the Town is hereby declared to be $194,000.00. Section 6. The cost of acquiring, constructing and completing the foregoing system or plan shall be paid as follows: (a) By assessments to be levied in the amount of not to exceed $56,000.00 against the property included in the local improve- ment district proposed to be formed as here- inafter set forth; and (b) From the proceeds received from the issuance and sale of "Water and Sewer Revenue Bonds, 1961," in the amount of not to exceed $138,000.00 par value. Section 7. The "Water and Sewer Revenue Bonds, 1961," herein authorized to be issued and sold in the principal sum of not to exceed $138,000.00 par value shall bear interest at not to exceed 6% per annum, payable semiannually, with interest coupons attached; shall be numbered from "one" upward consecutively; and shall be in such denominations and form, shall bear such date and interest rate or rates, shall be payable at such place or places, shall mature serially in accordance with such schedule, beginning not earlier than one year after the date of issuance -4- and ending not later than thirty years thereafter, or may be term bonds, shall have such option of payment prior to maturity, shall guarantee such coverage and collection of rates, shall provide for such additional funds and accounts, and shall con- tain and be subject to such provisions and covenants, as shall hereafter be provided by ordinance. The bonds shall be sold in such manner as the Town Council of the Town of Tukwila shall deem to be in the best interests of the Town. Section 8. The water and sewer revenue bonds herein authorized to be issued and sold shall be payable solely out of the special fund herein created and shall be a valid claim of the holder thereof only as against such fund and the amount of the revenues of the waterworks utility of the Town, including as a part thereof the system of sewerage to be acquired, pledged to such fund and shall not be a general obligation of the Town of Tukwila. Section 9, There shall be and hereby is created and established in the office of the Town Treasurer a special fund to be known as the "Water and Sewer Revenue Bond Fund, 1961," which fund is to be drawn upon for the sole purpose of paying the principal of and interest upon the revenue bonds herein authorized to be issued and any additional parity bonds hereafter issued from and after the date thereof, and so long thereafter as revenue bonds are outstanding against such fund the Treasurer of the Town of Tukwila shall set aside and pay into such Fund out of the gross revenues of the waterworks utility of the Town, including all additions thereto and extensions and betterments thereof at any time hereafter made, a fixed amount without regard to any fixed proportion, namely, an amount sufficient to pay the principal of and interest on the water and sewer -5 revenue bonds herein authorized and any additional parity bonds hereafter issued as they respectively become due and to create any surplus and reserve that may be hereafter prescribed by ordinance. The gross revenues from said waterworks utility of the Town are hereby pledged to such payments and the revenue bonds herein authorized shall constitute a charge upon such revenues prior and superior to any charges whatsoever, exclud- ing charges for maintenance and operation, except that the Town Council may hereafter provide, in connection with the issuance and sale of said revenue bonds, for the issuance of additional revenue bonds which will rank on a parity of lien with the water and sewer revenue bonds herein authorized upon such terms and conditions as the Town Council may hereafter prescribe by ordinance. Section 10. The Town Council and corporate authorities of the Town of Tukwila hereby declare that in creating said special fund and in fixing the amounts to be paid into it as aforesaid they have exercised due regard to the cost of operation and maintenance of the waterworks utility of the Town, including the system of sewerage to be acquired, and the Town of Tukwila has not bound and obligated itself and will not bind and obligate itself to set aside and pay into said special fund a greater amount or proportion of the revenues of the waterworks utility of the Town than in the judgment of the Town Council will be available over and above such costs of maintenance and opera- tion, and they hereby declare that no portion of the revenues of said utility have been previously pledged for any other indebtedness. Section 11. The Town of Tukwila hereby binds itself irrevocably to provide by subsequent ordinance or ordinances for -6- fixing rates and charges for the furnishing of water and s3,nitary sewage disposal service which will be sufficient to meet its obligations as herein set forth and as may be set forth in any subsequent ordinance providing for the issuance of the bonds and in connection therewith to provide: (a) That all property owners within the area served by the system of sewerage shall be com- pelled to connect their private drains and sewers with such Town system under such penalties as the Town Council may by ordinance direct; and (b) That sewerage liens for delinquent unpaid rates and charges shall be filed and enforced as provided by Section 6 and Section 7, Chapter 193, Session Laws of Washington, 1941 (RCW 35.67.200 et seq.) Section 12. The proceeds from the sale of the "Water and Sewer Revenue Bonds, 1961," herein authorized shall be used for the sole purpose of constructing and acquiring the system of sewerage to become a part of the waterworks utility of the Town and of paying part of the cost and expenses connected therewith and the Town of Tukwila shall, through its proper officers and agents, proceed with the construction and acquisi- tion of said system of sewerage as herein set forth upon the condition that a local improvement district is hereafter formed for the purpose of assessing not to exceed $56,000.00 of the cost of said improvement against the property specially benefited thereby. Section 11. It is the intention of the Town Council, in connection with carrying out the improvement above set forth, to form a local improvement district upon the filing with it of a legally sufficient petition signed by the owners of property aggregating a majority (1) of the lineal frontage upon the improvement, and (2) of the area within the proposed district, for the purpose of levying not to exceed $56,000.00 of the -7- cost of said improvement against the property specially benefited thereby. PASSED unanimously by the Town Council of the Town of Tukwila, Washington, at a regular meeting thereof and APPROVED by the Mayor of the Town this 1st day of May, 1961. (dejL X MAYOR ATTEST: 7, key TOWN CLERK -8-