999_00001ORDINANCENO.999
AN ORDINANCERELATINGTOTHEWATERWORKSUTILITY OF THECITY,INCLUDINGTHE SYSTEMOF SEWERAGEAS A PARTTHEREOF;SPECIFYINGANDADOPTINGASYSTEMORPLANOFADDITIONSTOANDBETTERMENTSANDEXTENSIONSOFTHATWATERWORKSUTILITY;DECLARINGTHE ESTI-MATEDCOSTTHEREOFAS NEARAS MAYBE:AUTHORIZINGTHE ISSUANCEANDSALEOFWATERANDSEWERREVENUEBONDSINTHEPRINCIPALAMOUNTOFAPPROXIMATELY$931,000TO OBTAINTHEFUNDSWITHWHICHTOPAYTHECOSTSOFSUCHSYSTEMORPLAN;CREATINGASPECIALCONSTRUCTIONFUNDANDAUTHORIZINGTHEISSUANCEANDiSALEOFINTEREST-BEARINGWARRANTSDRAWNUPONSUCHCONSTRUCTIONFUNDPENDINGTHESALEOFSUCHREVENUEBONDS;RATIFYINGALLACTIONSTAKENBYTHECITYRELATINGTOTHESYSTEMORPLAN;ANDCONVERTINGLOCALIMPROVEMENTDISTRICTNO.43 ESTABLISHEDBYORDINANCENO.975 INTOUTILITYLOCALIMPROVEMENTDISTRICTNO.1 OF THECITYANDLOCALIMPROVB4ENTDISTRICTNO.46 ESTABLISHEDBYORDINANCENO.978 INTO UTILITY LOCALIMPROVEMENTDISTRICTNO.2 OF THE CITY.
WHEREAS,the City of Moses Lake,Washington,heretofore combined its existing watersystemandsystemofsewerageintoawaterworksutilityofthecityandwords"Waterworks Utility of the City"shall hereinafter mean the combined water systemandsystemofsewerageofthecitytogetherwithalladditionstheretoandbetter-ments and extensions thereof hereafter made;and
WHEREAS,by Ordinance No.975 passed b.y the City Council and approved by the MayorofthecityonOctober28,1980,the city ordered the improvement of the LowerPeninsulaareawithinthecit.y by constructing and installing a sanitary sewersystemandconnectingthesametoexistingsewerfacilitiesatPeninsulaDrive andWanapumDriveandestablishedLocalImprovementDistrictNo.43 to carry out suchimprovement,and b.y Ordinance No.978 passed by the City Council and approved bytheMayorofthecityonOctober28,1980,the city ordered the improvement ofcertainpropertieswithinthecitybyconstructingandinstallingasanitarysewerandwatersystemandconnectingthesametoexistingfacilitiesatSharonAvenueandPioneerWayandestablishedLocalImprovementDistrictNo.46 to carry out suchimprovement;and
WHEREAS,the City Council of the city has determined it to be in the best interestsofthecitythattheimprovementsorderedtobecarriedoutinsuchLocalImprove-ments Districts Nos.43 and 46 be included in a plan and system ordinance to befinancedbytheissuanceandsaleofwaterandsewerrevenuebondsandthatsuchlocalimprovementdistrictsbeconvertedtoutilitylocalimprovementdistricts tosupportsuchwaterandsewerrevenuebonds;
NOW,THEREFORE,BEIT RESOLVED,that the City Council of the City of Moses Lake,Washington,do ordain as follows:
Section 1.The city hereby specifies and adopts a system or plan for making addi-tions to and betterments and extensions of the Waterworks Utility of the cityconsistingofthesameimprovementsorderedtobecarriedoutbyOrdinanceNo.975pertainingtoLocalImprovementDistrictNo.43 and by Ordinance No.978 pertainingtoLocalImprovementDistrictNo.46,namely:(1)There shall be constructed andinstalledasanitarysewersystemandthesameshallbeconnectedtoexistingsewerfacilitiesatPeninsulaDriveandWanapumDrive;and (2)There shall be constructedandinstalledasanitarysewerandwatersystemandthesameshallbeconnectedtoexistingfacilitiesatSharonAvenueandPioneerWay.
Section 2.The gross revenue and benefits to be derived from the operation andmaintenanceoftheWaterworksUtilityofthecityattheratestobechargedforIwaterandsanitarysewagedisposalserviceontheentireutility,will,in thejudgmentoftheCityCouncil,be more than sufficient to meet all expenses ofoperationandmaintenancethereofandtopermitthesettingasideintoaspecialfundoutofthegrossrevenueoftheWaterworksUtilityofthecitysufficientamountstopaytheinterestonthebondshereinauthorizedtobeissuedandallpresentlyoutstandingwaterandsewerrevenuebondsofthecityassuchinterestbecomesdueandpayable,and to pay and redeem all of such bonds at maturity.
ORD.#999,Page 2
Section 3.The life of the foregoing additions to and betterments and extensions
of the Waterworks Utility of the city is hereby declared to be at least twenty (20)
years.
Section 4.The estimated cost,as near as may be,of the aforesaid system or plan
of additions,extensions and betterments to the Waterworks Utility of the city is
hereby declared to be $931,000.
Section 5.The cost of acquiring,constructing,and making the foregoing additions
to and betterments and extensions of the Waterworks Utility of the city shall be
paid from the issuance and sale of water and sewer revenue bonds in the amount of
approximately $931,000which are hereby authorized.
The water and sewer revenue bonds herein authorized to be issued shall bear such
designation,shall bear interest payable semiannually,except that the first inter-
est payment may be for a different period of time,shall be numbered from "one"upward,consecutively,within each series as issued if issued in series,and shall
be payable out of such special fund heretofore or hereafter created as the City
Council shall determine.The bonds shall be issued in such series;shall be in
denominations and form;shall bear such date or dates 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 date of issuance and
ending not later than twenty (20)years thereafter or shall 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 contain and be subject to such provisions or covenants as shall be hereafter
provided by ordinance.
Section 6.The gross revenue from the Waterworks Utility of the city,including
assessments hereafter collected in Utility Local Improvement District No.1,asconvertedfromLocalImprovementDistrictNo.43,and in Utility Local Improvement
District No.2,as converted from Local Improvement District No.46 as hereinafter
provided,are hereby pledged to the payment of the principal and interest on thebondshereinauthorizedtobeissued.The bonds may be issued on a parity of lien
on such revenue with any outstanding water and sewer revenue bonds of the city or
may be issued subject to the lien on such revenue of any such outstanding bonds and
may be combined with any other issue of water and sewer revenue bonds heretofore or
hereafter authorized to be issued.
Section 7.The proceeds from the sale of the foregoing bonds shall be used for the
sole purpose of making the additions to and betterments and extensions of theWaterworksUtilityofthecityashereinauthorizedandofpayingthecostand
expense connected therewith,and the city,through its proper officials and agents,
shall proceed with the making of those improvements.
Section 8.There is hereby created and established in the office of the City
Clerk/Treasurer a special fund of the city to be known as the Water and Sewer
Construction Fund,1981 (the "Construction Fund")which shall be used for the sole
purpose of making the additions to and betterments and extensions of the Waterworks
Utility of the city as specified in Section 1 hereof and of paying_the costs and
expenses connected therewith,into which fund shall be deposited the proceeds from
the sale of the water and sewer revenue bonds herein authorized to be issued and
such other funds which may be legally available for such purpose.Pending theissuanceanddeliveryofthewaterandsewerrevenuebondshereinauthorized,
warrants may be issued drawn on the Construction Fund in payment for duly authorized
costs and expenses of carrying out the improvements herein authorized,which war-
rants shall be presented to the City Clerk/Treasurer marked "notpaid for want of
funds"and shall bear interest at such rate as shall be determined by the City
Council from date of presentment until the date called for payment.Such warrants
shall be paid in full within one year from the date hereof (unless such time period
shall be extended by mutual agreement with the holders of such warrants)out of the
proceeds from the issuance and sale of the water and sewer revenue bonds herein
authorized or from any other funds available therefor and deposited in the Construc-
tion Fund.
ORD.#999,Page 3
Section 9.The City Council hereby ratifies all actions heretofore taken by thecityoritsofficialsrelatingtothes.ystemand plan adopted by this ordinance andtheestablishmentoftheConstructionFund.
Section 10.Pursuant to the provisions of RCW35.43.043,existing Local ImprovementDistrictNo.43 established by Ordinance No.975 is hereby converted into a utilitylocalimprovementdistricttobeknownanddesignatedas"Utility Local ImprovementDistrictNo.1"of the city,the ordinance approving and confirming the finalassessmentrollofsuchLocalImprovementDistrictNo.43 having not as yet beenadopted.Pursuant to the provisions of RCW35.43.043,existing Local ImprovementDistrictNo.46 established by Ordinance No.978 is hereby converted into a utilityilocalimprovementdistricttobeknownanddesignatedas"Utility Local ImprovementDistrictNo.2"of the city,the ordinance approving and confirming the finalassessmentrollofsuchLocalImprovementDistrictNo.46 having not as yet beenadopted.All special assessments levied in Utility Local Improvement District No.1 and in Utility Local Improvement District No.2 shall,when collected,be paidintothespecialfundestablishedortobeestablishedforthepaymentofthewaterandsewerrevenuebondshereinauthorizedtobeissued.
Section 11.This ordinance shall take effect and be in force five (5)days afteritspassageandpublicationasprovidedbylaw.
RASSEDby the city Council of the City of Moses Lake,Washington,and APPROVEDbyitsMayorthisIJithdayof£ebruary ,1981.
ATTEST:
City Clerk
III APPROV S TOFORM:
Cit Attorne
Publish:2/13/81
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