HomeMy WebLinkAboutCOW 2011-10-10 Item 4C - Interlocal Agreement - Loan and Repayment Terms with Tukwila Metropolitan Park DistrictCOUNCIL AGENDA SYNOPSIS
Initials ITEMNO.
Meetiit� Date Prepared by Mayor's review Council rev�v
10/10/11 PM (CGS C
10/17/11 PM `t V
ITEM INFORMATION
CAS NUMBER: STAFF SPONSOR: PEGGY MCCARTHY ORIGINALAGFINDA DATr: 10/10/11
(;rNDA 111' f Tr['I,i City of Tukwila Tukwila Metropolitan Park District Interlocal Agreement for Loan
and Repayment
Discu.:rion 114otion Resolution Ordinance BidAward Public Hewing ❑Other
Mtg Date 10/10/11 A/Itg Date 10/17/11 Aftg Date A1tg Date Mtg Date Altg Date [lltg Date
SPONSOR Council Mayor HR DCD Finance .Fire IT P�'R Police PIF
SPONSOR'S The Interlocal agreement documents the loan and repayment terms for the operating loan
SUNNIMARY between the City and the Tukwila Metropolitan Park District. The operating loan is not to
exceed $1.1 million.
RI :�'II?WI ?D 131' Cow mtg. CA &P Cmte 1 &S Cmte Transportation Cmte
Utilities Cmte Arts Comm. Parks Comm. Planning Comm.
DATE: 10/4/11 COMMITTEE CHAIR: HOUGARDY
RECOMMENDATIONS:
SPONSOR/ADIVIIN.
Co i\ I °I I;i Unanimous Approval; Forward to Committee of the Whole
COST IMPACT FUND SOURCE
EtPI?NI)rI'UIZr RI?OUIRI ?D AMOUNT BUDGETED APPROPRIATION REQUIRED
$1,100,000 $0 $1,100,000
Fund Source: 000
Cotnn7eWS. Approx $520K of 2011 pool budget remains comprised of $404K for capital improvments
(p318 of budget book) and $116K of unutilized revenue /subsidy from general fund (p.117 budget book)
I MTG.DATEI RECORD OF COUNCIL ACTION
10/10/11
MTG. DATE
10 /10 /11
10/17/11
ATTACHMENTS
Informational Memorandum dated 9/28/11
Draft Interlocal Agreement
Loan Amortization Schedule
Resolution 1746
Minutes from the Finance and Safety Committee meeting of 10/4/11
23
24
City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO:
FROM:
DATE:
SUBJECT
Mayor Haggerton
Finance Safety Committee
Peggy McCarthy, Interim Finance Director
September 28, 2011
Interlocal Agreement with Tukwila Metropolitan Park District
ISSUE
Pursuant to Resolution 1746 passed by the Council on September 12, 2011, an Interlocal
Agreement between the City of Tukwila and the Tukwila Metropolitan Park District has been
drafted to document the terms and conditions of a loan from the City of Tukwila General Fund to
the Park District to fund Park District operations. The Agreement is presented for Council's
review and approval and will be presented to the Park District Board of Commissioners for their
review and approval on October 10, 2011.
BACKGROUND
The general taxes levied by the Park District will not be collected and available to fund Park
District operations until May 1, 2013 making a loan necessary to fund Park District operations
during this interim period.
DISCUSSION
As documented in the agreement, the City agrees to lend funds from its General Fund to the Park
District Fund, not to exceed $1,100,000, at an interest rate of two percent per year, according to
the following schedule:
a. October 15, 2011 $375,000
b. April 15, 2012 $375,000
c. October 15, 2012 $350,000
Should the Metropolitan Park District find that it is not in need of some or all of the principal amounts
identified above, the Park District will notify the City prior to the scheduled loan disbursement date.
The Park District agrees to assume and accept the financial obligation to repay the loan within a
ten -year period making semi annual payments to the City beginning in 2013.
RECOMMENDATION
The Council is being asked to approve the City of Tukwila Tukwila Metropoliltan Park District
Interlocal Agreement for Loan and Repayment and consider this item at the October 10, 2011
Committee of the Whole meeting and the subsequent October 17, 2011 Regular Meeting.
ATTACHMENTS
Draft: City of Tukwila Tukwila Metropolitan Park District Interlocal Agreement For Loan
and Repayment
Resolution 1746
25
26
CITY OF TUKWILA— TUKWILA METROPOLITAN PARK DISTRICT
INTERLOCAL AGREEMENT FOR
LOAN AND REPAYMENT
THIS INTERLOCAL AGREEMENT made and entered into, pursuant to the
Interlocal Cooperation Act, Chapter 39.34 of the Revised Code of Washington, on the
day of 2011, by and between the CITY OF TUKWILA, a
municipal corporation of the State of Washington (hereinafter referred to as "City and the
TUKWILA METROPOLITAN PARK DISTRICT, a municipal corporation of the State of
Washington (hereinafter referred to as "Park District
WITNESSETH:
WHEREAS, by Resolution No. 1738, the City Council of the City of Tukwila,
Washington asked the voters to create a metropolitan park district whose boundaries
would be coextensive with the boundaries of the City of Tukwila, including the authority
to levy a general tax on property not to exceed 15 cents per thousand dollars of
assessed valuation each year as statutorily provided; and
WHEREAS, on August 16, 2011, the voters of Tukwila approved the formation of
a metropolitan park district as required and now known as the Tukwila Metropolitan
Park District "Park District and
WHEREAS, the general taxes levied by the Park District pursuant to RCW
35.61.210 will not be collected and available to fund Park District operations until May 1,
2013, and a loan from the City of Tukwila is needed during the interim period to fund
Park District operations and shall be repaid by the Park District using its general tax
revenues once those become available; and
WHEREAS, by Resolution No. 1746, the City has declared its intent to enter into
an interlocal agreement with the Park District to evidence the City's commitment to loan
funds to the Park District as interim financing until the Park District's general tax
revenues become available; and
WHEREAS, in consideration for the City's commitment to loan funds as interim
financing, upon the terms and conditions set forth herein, the Park District has declared
its intent to enter into an interlocal agreement with the City, by Resolution No. 5, to
repay the City pursuant to the financial covenants set forth herein;
NOW THEREFORE in consideration of the mutual covenants hereinafter
contained, the parties hereto covenant and agree as follows:
INTERLOCAL AGREEMENT
Page 1 of 6
27
1. LOAN AMOUNT AND DISBURSEMENT
The City agrees to lend sufficient funds from its General Fund to the Tukwila
Metropolitan Park District Fund and agrees to disburse funds in a total principal
sum not to exceed $1,100,000.00 (the "Loan which principal is subject to interest
at the rate of two percent per year, according to the following schedule:
a. October 15, 2011 $375,000.00
b. April 15, 2012 $375,000.00
c. October 15, 2012 $350,000.00
Should the Metropolitan Park District find that it is not in need of some or all of the
principal amounts identified above, the Park District will notify the City not less than
15 (fifteen) days prior to the scheduled loan disbursement date.
2. LOAN REPAYMENT TERMS AND SCHEDULE
The Park District agrees to assume and accept the financial obligation to repay
the Loan in the maximum amount of $1,100,000.00, plus interest thereon at the
rate of two percent per year, within a ten -year period. The Park District obligation
hereunder constitutes a non -voted general obligation of the Park District to which
its full faith, credit and resources are pledged.
This Loan will be repaid in semi annual payments to the City beginning in 2013.
The first payment will be due May 15, 2013 and will be due every November 15
and May 15, thereafter. The City will invoice the Park District for the amount
owing for the relevant time period. Should the Park District desire to pre -pay any
of the loan amount, pre payment shall include accrued interest, through the date
of payment.
3. EVENTS OF DEFAULT AND REMEDIES
3.1 Events of Default. Each of the following shall be a "Loan Default
a. Monetary Defaults. Any failure by the Park District to make any required
monetary payments when due to the City pursuant to Paragraph 2 of this
Agreement. If an event which would constitute a Monetary Default shall
occur, the City shall provide prompt telephone notice confirmed in writing
(which may be by facsimile or electronic transmission) to the Park District
Executive Director, and demand a cure thereof (provided, that failure by
the City to send such written notice shall not constitute waiver of or
prevent the occurrence of a Loan Default), and if such event is not cured
within fifteen days of the scheduled payment date, then such event shall
constitute a Loan Default and the City may, in its sole discretion, proceed
with its remedies under Paragraph 3.2 of this Agreement.
INTERLOCAL AGREEMENT
Page 2 of 6
b. Nonmonetary Defaults. Any failure on the part of the Park District to
perform or observe the duties, provisions or obligations required of it
pursuant to this Agreement, other than as set forth in Paragraph 3.1(a)
above, if such failure shall have continued for a period of 60 days after
written notice thereof has been delivered to the Park District by the City.
3.2 Remedies. Upon occurrence of any Loan Default under this Agreement, the
City may bring any legal action or proceeding against the Park District to
protect and enforce its rights in equity or at law, either in mandamus or for the
specific performance of any covenant or agreement contained in this
Agreement, or for the enforcement of any other appropriate legal or equitable
remedy, as the City, being advised by counsel, may deem most effectual to
protect and enforce any of its concurrent or reserved rights or interests
hereunder with respect to: (1) the payment of principal, interest, fees or
amounts due; (2) indemnifications and reimbursements due to the City by the
Park District; and (3) receipt of reports and notices.
4. RECORDS INSPECTION AND AUDIT
All funds advanced and repaid shall be subject to adjustment for any amounts
found upon audit or otherwise to have been improperly advanced or reimbursed,
and all records and books of accounts pertaining to the Loan provided under this
Agreement shall be subject to inspection and audit by either party for a period of
up to three (3) years from the final payment by the Park District for
reimbursement of the Loan provided by the City.
5. ADMINISTRATION OF AGREEMENT
This Agreement shall be administered by Peggy McCarthy, Interim Finance
Director or designee on behalf of City, and by Kimberly Matej, Interim Executive
Director, or designee on behalf of the Park District. Any written notices required
by the terms of this Agreement shall be served on or mailed to the following
addresses:
CITY OF TUKWILA
Peggy McCarthy
Interim Finance Director
Tukwila, WA 98188
Phone: 206 433 -1839
INTERLOCAL AGREEMENT
Page 3 of 6
PARK DISTRICT
Kimberly Matej
Interim Executive Director
Tukwila, WA 98188
Phone: 206 433 -1834
29
6. NOTICES
All notices or communications permitted or required to be given under this
Agreement shall be in writing and shall be deemed to have been duly given if
delivered in person or deposited in the United States mail, postage prepaid, for
mailing by certified mail, return receipt requested, and addressed, if to a party of
this Agreement, to the address for the party set forth above.
Either party may change its address by giving notice in writing, stating its new
address to the other party, pursuant to the procedure set forth above.
7. INDEMNIFICATION OF THE CITY
The Park District shall indemnify and hold City and its agents, employees, and /or
officers, harmless from and shall process and defend at its own expense any and
all claims, demands, suits, at law or equity, actions, penalties, losses, damages, or
costs, of whatsoever kind or nature, brought against City arising out of, in
connection with, or incident to the making of the Loan that is the subject of this
Agreement and /or Park District's performance or failure to perform any aspect of
this Agreement; provided, however, that if such claims are caused by or result from
the concurrent negligence of City, its agents, employees, and /or officers, this
indemnity provision shall be valid and enforceable only to the extent of the
negligence of Park District; and provided further, that nothing herein shall require
Park District to hold harmless or defend City, its agents, employees and /or officers
from any claims arising from the sole negligence of City, its agents, employees,
and /or officers. No liability shall attach to City by reason of entering into this
Agreement except as expressly provided herein.
8. WAIVER OF SUBROGATION
City and Park District hereby mutually release each other from liability and waive all
right of recovery against each other for any loss caused by fire or other perils which
can be insured against under fire insurance contracts including any extended
coverage endorsements thereto which are customarily available from time to time in
the State of Washington, provided, that this paragraph shall be inapplicable to the
extent that it would have the effect of invalidating any insurance coverage of City or
Park District.
9. COMPLIANCE WITH REGULATIONS AND LAWS
The parties shall comply with all applicable rules and regulations pertaining to them
in connection with the matters covered herein.
INTERLOCAL AGREEMENT
Page 4 of 6
30
10. ASSIGNMENT
The parties shall not assign this Agreement or any interest, obligation or duty
therein without the express written consent of the other party.
11. ATTORNEYS' FEES
If a Loan Default occurs and if the City or Park District should employ attorneys or
incur expenses for the enforcement of any obligation or agreement of the City or
Park District contained herein, the non prevailing party on demand will pay to the
prevailing party the reasonable fees of such attorneys of the prevailing party and
the reasonable costs so incurred, including, without limitation, reasonable fees and
costs of court appeals.
12. MISCELLANEOUS
a. All of the covenants, conditions and agreements in this Agreement shall
extend to and bind the legal successors and assigns of the parties hereto.
b. This Agreement shall be deemed to be made and construed in accordance
with the laws of the State of Washington. Jurisdiction and venue for any action
arising out of this Agreement shall be in King County, Washington.
C. The captions in this Agreement are for convenience only and do not in any
way limit or amplify the provisions of this Agreement.
d. Unless otherwise specifically provided herein, no separate legal entity is
created hereby, as each of the parties is contracting in its capacity as a municipal
corporation of the State of Washington. The identity of the parties hereto is as set
forth hereinabove.
e. The performances of the duties of the parties provided hereby shall be done
in accordance with standard operating procedures and customary practices of the
parties.
f. No provision of this Agreement shall relieve either party of its public agency
obligations and or responsibilities imposed by law.
g. If any term or provision of this Agreement or the application thereof to any
person or circumstance shall, to any extent, be held to be invalid or unenforceable
by a final decision of any court having jurisdiction on the matter, the remainder of
this Agreement or the application of such term or provision to persons or
circumstances other than those as to which it is held invalid or unenforceable shall
INTERLOCAL AGREEMENT
Page 5 of 6
31
not be affected thereby and shall continue in full force and effect, unless such court
determines that such invalidity or unenforceability materially interferes with or
defeats the purposes hereof, at which time either party shall have the right to
terminate the Agreement.
h. This Agreement constitutes the entire agreement between the parties. There
are no terms, obligations, covenants or conditions other than those contained
herein. No modifications or amendments of this Agreement shall be valid or
effective unless evidenced by an agreement in writing signed by both parties.
i. Copies of this Agreement shall be filed with the King County Auditor's Office
and the respective Clerks of the parties hereto.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.
CITY OF TUKWILA TUKWILA METROPOLITAN PARK
DISTRICT
Jim Haggerton, Allan Ekberg
Mayor President of the Board of Commissioners
Attest: Attest:
Christy O'Flaherty, CMC Verna Seal
City Clerk Clerk of the Board
Approved as to form: Approved as to form:
Shelley M. Kerslake, Lisa M. Marshall,
City Attorney Commission Attorney
INTERLOCAL AGREEMENT
Page 6 of 6
32
Loan Amortization Schedule
33
Enter values)
Loan summary
Loan amountl
.11,100,000:00 f
Scheduled payment[
10,121.48
Annual interest rate
2:6'6
Scheduled
number of payments
120
Loan period in yearsf.
10'1
Actual number of payments[
120
Number of payments per year
'1Z I
Total early payments
Start date of loan
5/1/2013
Totalinterestl
114,577.59 j
Optional extra payments
Lender name: (CITY OFTUKWILA TO PARK
DISTRICT
Pmt. .l
Payment Date
I
Beginning Balance
Scheduled
Extra Payment
Total Payment
Principal
Interest
Ending Balance
Cumulative Interest
No.
Pa Y ment
1
6/1/2013
1,100,000.00
10,121.48
10,121.48
8,288.15
1,833.33
1,091,711.85
1,833.33'
2
7/1/2013
1,091,711.85
10,121.48
10,121.48
8,301.96
1,819.52
1,083,409.89
3,652.85
3
8/1/2013
1,083,409.89
10,121.48
10,121.48
8,315.80
1,805.68
1,075,094.10
5,458.54
4
9/1/2013
1,075,094.10
10,121.48
10,121.48
8,329.66
1,791.82
1,066,764.44
7,250.36
5
10/1/2013
1,066,764.44
10,121.48
10,121.48
8,343.54
1,777.94
1,058,420.90
9,028.30
6
11/1/2013
.1,058,420.90
10,121.48
10,121.48
8,357.45
1,764.03
1,050,063.46
10,792.34
7
12/1/2013
1,050,063.46
10,121.48
10,121.48
8,371.37
1,750.11
1,041,692.08
12,542.44
8
1/1/2014
1,041,692.08
10,121.48
10,121.48
8,385.33
1,736.15
1,033,306.76
14,278.59
9
2/1/2014
1,033,306.76
10,121.48
10,121.48
8,399.30
1,722.18
1,024,907.45
16,000.77
10
3/1/2014
1,024,907.45
10,121.48
10,121.48
8,413.30
1,708.18
1,016,494.15
17,708.95
11
4/1/2014
1,016,494.15
10,121.48
10,121.48
8,427.32
1,694.16
1,008,066.83
19,403.11
12
5/1/2014
1,008,066.83
10,121.48
10,121.48
8,441.37
1,680.11
999,625.46
21,083.22
13
6/1/2014
999,625.46
10,121.48
10,121.48
8,455.44
1,666.04
991,170.02.
22,749.26
14
7/1/2014
991,170.02
10,121.48
10,121.48
8,469.53
1,651.95
982,700.49
24,401.21
15
8/1/2014
982,700.49
10,121.48
10,121.48
8,483.65
1,637.83
974,216.85
26,039.05
16
9/1/2014
974,216.85
10,121.48
10,121.48
8,497.79
1,623.69
965,719.06
27,662.74
17
10/1/2014
965,719.06
10,121.48
10,121.48
8,511.95
1,609.53
957,207.11
29,272.27
18
11/1/2014
957,207.11
10,121.48
10,121.48
8,526.13
1,595.35
948,680.98
30,867.62
19
12/1/2014
948,680.98
10,121.48
10,121.48
8,540.34
1,581.13
940,140.63
32,448.75
20
1/1/2015
940,140.63
10,121.48
10,121.48
8,554.58
1,566.90
931,586.06
34,015.65
21
2/1/2015
931,586.06
10,121.48
10,121.48
8,568.84
1,552.64
923,017.22
35,568.30
22
3/1/2015.
923,017.22
10,121.48
10,121.48
8,583.12
1,538.36
914,434.10
37,106.66
23
4/1/2015
914,434.10
10,121.48
10,121.48$
8,597.42
1,524.06
905,836.68
38,630.72
24
5/1/2015
905,836.68
10,121.48
10,121.48
8,611.75
1,509.73
897,224.93
40,140.44
25
6/1/2015
897,224.93
10,121.48
10,121.48
8,626.11
1,495.37
888,598.82
41,635.82
26
7/1/2015
888,598.82
10,121.48
10,121.48
8,640.48
1,481.00
879,958.34
43,116.82
27
8/1/2015
879,958.34
10,121.48
10,121.48
8,654.88
1,466.60
.871,303.46
44,583.41
28
9/1/2015
871,303.46
10,121.48
10,121.48
8,669.31
1,452.17
862,634.15
46,035.59
29
10/1/2015
862,634.15
10,121.48
10,121.48
8,683.76
1,437.72
853,950.39
47,473.31
30
11/1/2015
853,950.39
10,121.48
10,121.48
8,698.23
1,423.25
845,252.16
48,896.56
31
12/1/2015
845,252.16
10,121.48
10,121.48
8,712.73
1,408.75
836,539.44
50,305.31
32
1/1/2016
836,539.44
10,121.48
10,121.48
8,727.25
1,394.23
827,812.19
51,699.55
33
2/1/2016
827,812.19
10,121.48
10,121.48
8,741.79
1,379.69
819,070.40
53,079.23
34
3/1/2016
819,070.40
10,121.48
10,121.48
8,756.36
1,365.12
810,314.03
54,444.35
35
4/1/2016
810,314.03
10,121.48
10,121.48
8,770.96
1,350.52
801,543.08
55,794.87
36
5/1/2016
801,543.08
10,121.48
10,121.48
8,785.57
1,335.91
792,757.50
57,130.78
37
6/1/2016
792,757.50
10,121.48
10,121.48
8,800.22
1,321.26
783,957.29
58,452.04
38
7/1/2016
783,957.29
10,121.48
10,121.48
8,814.88
1,306.60
775,142.40
59,758.64
39
8/1/2016
775,142.40
10,121.48
10,121.48
8,829.58
1,291.90
766,312.82
61,050.54
40
9/1/2016
766,312.82
10,121.48
10,121.48
8,844.29
1,277.19
757,468.53
62,327.73
41
10/1/2016
757,468.53
10,121.48
10,121.48
8,859.03
1,262.45
748,609.50
63,590.18
42
11/1/2016
748,609.50
10,121.48
10,121.48
8,873.80
1,247.68
739,735.70
64,837.86
43
12/1/2016
739,735.70
10,121.48
10,121.48
8,888.59
1,232.89
730,847.12'
66,070.75
44
1/1/2017
730,847.12
10,121.48
10,121.48
8,903.40
1,218.08
721,94171
67,288.83
45
2/1/2017
721,943.71
10,121.48
10,121.48
8,918.24
1,203.24
713,025.47
68,492.07
46
3/1/2017
713,025.47
10,121.48
10,121.48
8,933.10
1,188.38
704,092.37
69,680.45
47
4/1/2017
704,092.37
10,121.48
10,121.48
8,947.99
1,173.49
695,144.38
70,853.93
48
5/1/2017
695,144.38
10,121.48
10,121.48
8,962.91
1,158.57
686,181.47
72,012.51
49
6/1/2017
686,181.47
10,121.48
10,121.48
8,977.84
1,143.64
677,203.63
73,156.14
50
7/1/2017
677,203.63
10,121.48
10,121.48
8,992.81
1,128.67
668,210.82
74,284.82
51
8/1/2017
668,210.82
10,121.48
10,121.48
9,007.80
1,113.68
659,203.03
75,398.50
52
9/1/2017
659,203.03
10,121.48
10,121.48
9,022.81
1,098.67
650,180.22
76,497.17
53
10/1/2017
650,180.22
10,121.48
10,121.48
9,037.85
1,083.63
641,142.37
77,580.81
54
11/1/2017
641,142.37
10,121.48
10,121.48
9,052.91
1,068.57
632,089.46
78,649.38
55
12/1/2017
632,089.46
10,121.48
10,121.48
9,068.00
1,053.48
623,021.46
79,702.86
56
1/1/2018
623,021.46
10,121.48
10,121.48
9,083.11
1,038.37
613,938.35
80,741.23
57
2/1/2018
613,938.35
10,121.48
10,121.48
9,098.25
1,023.23
604,840.10
81,764.46
58
3/1/2018
604,840.10
10,121.48
10,121.48
9,113.41.
1,008.07
595,726.69
82,772.53
59
4/1/2018
595,726.69
10,121.48
10,121.48
9,128.60
992.88
586,598.09
83,765.40
60
5/1/2018
586,598.09
10,121.48
10,121.48
9,143.82
977.66
577,454.27
84,743.07
61
6/1/2018
577,454.27
10,121.48
10,121.48
9,159.06
962.42
568,295.22
85,705.49
62
7/1/2018
568,295.22
10,121.48
10,121.48
9,174.32
947.16
559,120.89
86,652.65
63
8/1/2018
559,120.89
10,121.48
10,121.48
9,189.61
931.87
549,931.28
87,584.52
64
9/1/2018
549,931.28
10,121.48
10,121.48
9,204.93
916.55
540,726.36
88,501.07
65'
10/1/2018
540,726.36
10,121.48
10,121.48
9,220.27
901.21
531,506.09
89,402.28
66
11/1/2018
531,506.09
10,121.48
10,121.48
9,235.64
885.84
522,270.45
90,288.12
67
12/1/2018
522,270.45
10,121.48
10,121.48
9,251.03
870.45
513,019.42
91,158.58
33
Pmt..
Payment Date
I
Beginning Balance
scheduled
Extra Payment
Total Payment
Principal
I I
Interest
Ending Balance
I
Cumulative Interest
No.
Payment'
68
1/1/2019
513,019.42
10,121.48
10,121.48
9,266.45
855.03
503,752.97
92,013.61
69
2/1/2019
503,752.97
10,121.48
10,121.48
9,281.89
839.59
494,471.08
92,853.20
70
3/1/2019
494,471.08
10,121.48
10,121.48
9,297.36
824.12
485,173.72
93,677.31
71
4/1/2019
485,173.72
10,121.48
10,121.48
9,312.86
808.62
475,860.86
94,485.94
72
5/1/2019
475,860.86
10,121.48
10,121.48
9,328.38
793.10
466,532.48
95,279.04
73
6/1/2019
466,532.48
10,121.48
10,121.48
9,343.93
777.55
457,188.56
96,056.59
74
7/1/2019
457,188.56
10,121.48
10,121.48
9,359.50
761.98
447,829.06
96,818.57
75
8/1/2019
447,829.06
10,121.48
10,121.48
9,375.10
746.38
438,453.96
97,564.96-
76
9/1/2019
438,453.96
10,121.48
10,121.48
9,390.72
730.76
429,063.24
98,295.71.
77
10/1/2019
429,063.24
10,121.48
10,121.48
9,406.37
715.11
419,656.86
99,010.82
78
11/1/2019
419,656.86
10,121.48
10,121.48
9,422.05
699.43
410,234.81
99,710.25
79
12/1/2019
410,234.81
10,121.48
10,121.48
9,437.76
683.72
400,797.06
100,393.97
80
1/1/2020
400,797.06
10,121.48
10,121.48
9,453.48
668.00
391,343.57
101,061.97
81
2/1/2020
391,343.57
10,121.48
10,121.48
9,469.24
652.24
381,874.33
101,714.20
82
3/1/2020
381,874.33
10,121.48
10,121.48
9,485.02
636.46
372,389.31
102,350.66
83
4/1/2020
372,389.31
10,121.48
10,121.48
9,500.83
620.65
362,888.48
102,971.31
84
5/1/2020
362,888.48
10,121.48
10,121.48
9,516.67
604.81
353,371.81
103,576.12
85
6/1/2020
353,371.81
10,121.48
10,121.48
9,532.53
588.95
343,839.28
104,165.08.
86
7/1/2020
343,839.28
10,121.48
10,121.48
9,548.41
573.07
334,290.87
104,738.14
87
8/1/2020
334,290.87
10,121.48
10,121.48
9,564.33
557.15
324,726.54
.105,295.29
88
9/1/2020
324,726.54
10,121.48
10,121.48
9,580.27
541.21
315,146.27
105,836.51
89
10/1/2020
315,146.27
10,121.48
10,121.48
9,596.24
525.24
305,550.04
106,361.75
90
11/1/2020
305,550.04
10,121.48
10,121.48
9,612.23
509.25
295,937.81
106,871.00
91
12/1/2020
295,937.81
10,121.48
10,121.48
9,628.25
493.23
286,309.56-
107,364.23
92
1/1/2021
286,309.56
10,121.48
10,121.48
9,644.30
477.18
276,665.26
107,841.41
93
2/1/2021
276,665.26
10,121.48
10,121.48
9,660.37
461.11
267,004.89
108,302.52
94
3/1/2021.:$
267,004.89
10,121.48
10,121.48
9,676.47
445.01
257,328.42
108,747.53
95
4/1/2021
257,328.42
10,121.48
10,121.48
9,692.60
42$.88'
247,635.82
109,176.41
96
5/1/2021
247,635.82
10,121.48
10,121.48
9,708.75
412.73
.237,927.06
109,589.14
97
6/1/2021
237,927.06
10,121.48
10,121.48
9,724.93
396.55
228,202.13
109,985.68
98
7/1/2021
228,202.13
10,121.48
10,121.48
9,741.14
380.34
218,460.99
110,366.02
99
8/1/2021
218,460.99
10,121.48
10,121.48
9,757.38
364.10
208,703.61
110,730.12
100
9/1/2021
208,703.61
10,121.48
10,121.48
9,773.64
347.84
198,929.97
111,077.96
101
10/1/2021
198,929.97
.10,121.48
10,121.48
9,789.93
331.55
189,140.04
111,409.51.
102
11/1/2021
189,140.04
10,121.48
10,121.48
9,806.25
315.23
179,333.79
111,724.74
103
12/1/2021.
179,333.79.
.10,121.48
10,121.48
9,822.59-
298.89
169,511.20
112,023.63
104
1/1/2022
169,511.20
10,121.48
10,121.48
9,838.96
282.52
159,672.24-
112,306.15
105
2/1/2022
159,672.24
10,121.48
10,121.48
9,855.36
266.12
149,816.88
112,572.27
106
3/1/2022
149,816.88
10,121.48
10,121.48
9,871.79
249.69
139,945.09'
112,821.97
107
4/1/2022
139,945.09
10,121.48
10,121.48
9,888.24
233.24
'130,056.86
113,055.21
108
5/1/2022
130,056.86
10,121.48
10,121.48
9,904.72
216.76
120,152.14
113,271.97
109
6/1/2022
120,152.14
10,121.48
10,121.48
9,921.23
200.25
110,230.91
113,472.22
110
7/1/2022
110,230.91
.10,121.48
10,121.48
9,937.76
183.72
100,293.15
113,655.94
111
8/1/2022
100,293.15
10,121.48
10,121.48
9,95432
167.16
90,338.82
113,823.10
112
9/1/2022
90,338.82
10,121.48
10,121.48
9,970.92
150.56
80,367.91.
113,973.66
113
10/1/2022
80,367.91
10,121.48
10,121.48
.9,987.53
133.95
70,380.38
114,107.61
114
11/1/2022
70,380.38'
10,121.48
10,121.48
10,004.18
117.30
60,376.20-
114,224.91
115
12/1/2022
60,376.20
10,121.48
10,121.48
10,020.85
100.63
50,355.34-
114,325.53
116
1/1/2023
50,355.34
10,121.48
10,121.48
10,037.55
83.93
40,317.79
114,409.46
117
2/1/2023
40,317.79
10,121.48
10,121.48
10,054.28.
67.20
30,263.51
114,476.66
118
3/1/2023
30,263.51
10,121.48
10,121.48
10,071.04
50.44
20,192.46
114,527.10
119
4/1/2023
20,192.46
10,121.48
10,121.48
10,087.83
33.65
10,104.64:
114,560.75
120
5/1/2023
10,104.64
10,121.48
10,104.64
10,087.80
16.84
114,577.59
34
City of u la
Washington
Resolution No. +e
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, AUTHORIZING A LOAN FROM THE
CITY OF TUKWILA GENERAL FUND TO THE TUKWILA
METROPOLITAN PARK DISTRICT FUND, IN AN AMOUNT
NOT TO EXCEED $1.1 MILLION, TO FUND PARK DISTRICT
OPERATIONS PENDING COLLECTION OF GENERAL TAXES.
WHEREAS, by Resolution No. 1738, the City Council of the City of Tukwila,
Washington, asked the voters to create a Metropolitan Park District whose boundaries
would be coextensive with the boundaries of the City of Tukwila, including the authority to
levy a general tax on property not to exceed 15 cents per thousand dollars of assessed
valuation each year as statutorily provided; and
WHEREAS, on August 16, 2011, the voters of Tukwila approved the formation of
a Metropolitan Park District as required and now known as the Tukwila Metropolitan
Park District "Park District and
WHEREAS, the general taxes levied by the Park District pursuant to RCW
35.61.210 will not be collected and available to fund Park District operations until May 1,
2013, and a loan from the City of Tukwila is needed during the interim period to fund
Park District operations;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY RESOLVES AS FOLLOWS:
Section 1. Loan from City General Fund to Park District Fund Authorized.
The City of Tukwila hereby authorizes a loan from its General Fund to the Tukwila
Metropolitan Park District Fund in the principal sum not to exceed the lesser of
$1,100,000.00 plus interest thereon, or the Park District's indebtedness limit pursuant to
RCW 35.61.100.
Section 2. Loan Repayment Terms Interlocal Agreement Authorized. City
staff is hereby directed to prepare an interlocal agreement setting forth the terms and
conditions of the loan authorized in Section 1. Said agreement shall specify, at
W: \Word Processing \Resolutions \Loan authorized to Metropolitan Park District 9 -7 -11
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35
minimum, a repayment term of 10 years and interest due at the rate of 2% compounded
annually.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at
a Special Meeting thereof this f A'-= day of September, 2011.
ATTEST /AUTHENTICATED:
Melissa Hart, CMC, Acting City Clerk
Allan Ekberg, Council Pres nt
APPROVED AS TO FORM BY:
Shelley M. Kerslake, City Attorney
Filed with the City Clerk: q' 7 1
Passed by the City Council +19-11
Resolution Number: i'l `MCP
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K Sand:bjs
Page 2 of 2
36
FINANCE AND SAFETY COMMITTEE
Meeting Minutes
October 4, 2011— S: 00 p.m.; Conference Room 93
City of Tukwila
Finance and Safety Committee
PRESENT
Councilmembers: Kathy Hougardy, Chair; Joan Hernandez and Dennis Robertson
Staff: Peggy McCarthy, Derek Speck and Joyce Trantina
CALL TO ORDER: Chair Hougardy called the meeting to order at 5:00 p.m.
I. MISCELLANEOUS (UNANIMOUS APPROVAL TO MOVE MISCELLANEOUS TO ITEM I.)
The group discussed the proposed changes regarding the RGRL: the possible exemption for non- profits from
the RGRL fee, combining RGRL fees with business license fees; and the need to make some minor
housekeeping changes. The Committee asked Councilmember Robertson to review the legalities affecting the
distinction for non- profits, i.e. 501 -3C status, number of employees, etc. He will talk with the City Attorney's
office regarding other cities, and how they address the issue of exemptions for non -profit businesses. He will
share this information with the Finance and Safety Committee at their October 18 meeting.
Staff was asked to return to the Finance and Safety Committee on October 18 with 3 separate draft
ordinances that cover the above issues.
II. BUSINESS AGENDA
A. Interlocal Agreement with Tukwila Metropolitan Park District: General Fund Loan
Staff is seeking Council approval to enter into an interlocal agreement with the Tukwila Metropolitan
Park District for a loan from the City's General Fund in an amount not to exceed $1,100,000.
After discussion, the group recommended 3 changes to the interlocal agreement: Page 2, Paragraph 3. La
Monetary Defaults. Add "Executive Director" after the words, Park District. Page 3, No. 5: add
"Interim" before Executive Director in the first Paragraph, and under notification section, "Park District
Staff was asked to make the above changes to the interlocal agreement, and have the agreement, as well
as the resolution, reviewed by Tukwila City Attorney's office, and also by the Metropolitan Park District
attorney, prior to the October 10 Metropolitan Park District Meeting.
Staff was also asked to provide a more specific report detailing where the City's funds will be coming
fi Finance will also provide a debt service table for review.
UNANIMOUS APPROVAL. FORWARD TO OCTOBER 10, 2011 COW FOR DISCUSSION,
INCLUDING THE CHANGES NOTED ABOVE.
B. Resolution ReaardinQ Annual Cancellation for Accounts Receivable
Staff is seeking full Council approval of an annual resolution to cancel (write -off) account receivables
deemed uncollectible. This year's annual account receivable write -off totals $93,663.37.
Staff reviewed the process by which accounts receivable determines items as uncollectible. This year's
write -offs are higher than years past due to accidents caused by unknown or uninsured motorists.
37
W.*