Loading...
HomeMy WebLinkAboutREGULAR COUNCIL - 13 Apr 2015 - Agenda - PdfAGENDA RENTON CITY COUNCIL REGULAR MEETING April 13, 2015 Monday, 7 p.m. REVISED 1.CALL TO ORDER AND PLEDGE OF ALLEGIANCE 2.ROLL CALL 3.SPECIAL PRESENTATIONS a. Communities In Schools of Renton (CISR) - Annual Report b. Puget Sound Emergency Radio Network (PSERN) Ballot Proposal Briefing 4.ADMINISTRATIVE REPORT 5.AUDIENCE COMMENT (Speakers must sign up prior to the Council meeting. Each speaker is allowed five minutes. The first comment period is limited to one-half hour. The second comment period later on in the agenda is unlimited in duration.) When you are recognized by the Presiding Officer, please walk to the podium and state your name and city of residence for the record, SPELLING YOUR LAST NAME. NOTICE to all participants: pursuant to state law, RCW 42.17A.555, campaigning for any ballot measure or candidate in City Hall and/or during any portion of the council meeting, including the audience comment portion of the meeting, is PROHIBITED. 6.CONSENT AGENDA The following items are distributed to Councilmembers in advance for study and review, and the recommended actions will be accepted in a single motion. Any item may be removed for further discussion if requested by a Councilmember. a. Approval of Council meeting minutes of 4/6/2015. Council concur. b. Community and Economic Development Department recommends authorization of a quitclaim deed and a temporary easement, in favor of the Washington State Department of Transportation, to further regional highway improvements within the City. Council concur. c. Transportation Systems Division requests authorization of an increase to staffing by adding a 1.0 FTE (Full-time Equivalent) Civil Engineer III and a 1.0 FTE Administrative Secretary, and adjust the budget as necessary. Refer to Finance Committee. d. Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Relocation and Lift Station Improvements; and requests approval of the project, authorization for final pay estimate in the amount of $6,022.50, commencement of a 60 day lien period, and release the retainage in the amount of $6,708.57 to Equity Builders, LLC, contractor, subject to the receipt of all required authorizations. Council concur. Page 1 of 71 e. Utilities Systems Division requests authorization to establish the SE 165th St. Sewer Extension Special Assessment District (SAD), in the estimated amount of $143,000, to ensure that project costs are equitably distributed to those who benefit, and direct staff to proceed with the establishment of the final SAD upon completion of the construction of the SE 165th St. Sewer Extension Project. Refer to Utilities Committee. 7.UNFINISHED BUSINESS Topics listed below were discussed in Council committees during the past week. Those topics marked with an asterisk (*) may include legislation. Committee reports on any topics may be held by the Chair if further review is necessary. a. Community Services Committee: Municipal Arts Commission Appointments; Library Advisory Board Appointment; 2015 Neighborhood Grants 8.RESOLUTIONS AND ORDINANCES Ordinances for second and final reading: a. Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015) b. 2015 Carry Forward Budget Amendment (1st reading 4/6/2015) 9.NEW BUSINESS (Includes Council Committee agenda topics; visit rentonwa.gov/cityclerk for more information.) 10.AUDIENCE COMMENT 11.ADJOURNMENT COMMITTEE OF THE WHOLE AGENDA (Preceding Council Meeting) COUNCIL CHAMBERS April 13, 2015 Monday, 6 p.m. Solid Waste Contract • Hearing assistance devices for use in the Council Chambers are available upon request to the City Clerk • CITY COUNCIL MEETINGS ARE TELEVISED LIVE ON GOVERNMENT ACCESS CHANNEL 21 AND ARE RECABLECAST: Tues. & Thurs. at 11 AM & 9 PM, Wed. & Fri at 9 AM & 7 PM and Sat. & Sun. at 1 PM & 9 PM Page 2 of 71 CITY OF RENTON COUNCIL AGENDA BILL Subject/Title: WSDOT Purchase of a portion of City property together with a temporary construction easement. Meeting: REGULAR COUNCIL - 13 Apr 2015 Exhibits: A. Issue Paper B. Quitclaim Deed C. Temporary Easement D. Site Map E. Real Property Voucher Submitting Data: Dept/Div/Board: Community and Economic Development Staff Contact: Bob Mac Onie, ext. 7369 Recommended Action: Council Concur Fiscal Impact: Expenditure Required: $ N/A Transfer Amendment: $N/A Amount Budgeted: $ N/A Revenue Generated: $6,300 Total Project Budget: $ N/A City Share Total Project: $ N/A SUMMARY OF ACTION: The Washington State Department of Transportation (WSDOT) has requested that the City convey a small portion of a City property together with a temporary construction easement for the I-405/SR 167 Interchange Direct Connector Improvement project under threat of condemnation. STAFF RECOMMENDATION: Authorize the Mayor to execute a quitclaim deed and a temporary easement, in favor of WSDOT, to further regional highway improvements within the City. 6b. - Community and Economic Development Department recommends Page 3 of 71 DEPARTMENT OF COMMUNITY & ECONOMIC DEVELOPMENT M E M O R A N D U M DATE:April 2, 2014 TO:Ed Prince, Council President Members of Renton City Council VIA:Denis Law, Mayor FROM:Chip Vincent, Administrator STAFF CONTACT:Bob Mac Onie, x7369 SUBJECT:WSDOT Purchase of a small portion of Tax Parcel 3340400585 ISSUE Should the Mayor be granted authority to execute a deed and accompanying temporary construction easement, for a small portion of City owned property to the State of Washington for the next phase of the Department of Transportation I-405/SR167 Interchange Direct Connector Improvements project. RECOMMENDATION Authorize the Mayor to sign both the deed and the easement documents in furtherance of regional highway improvements within the City. BACKGROUND SUMMARY In April of 2014, the City Clerk’s office received a letter from the State of Washington’s Department of Transportation requesting that the City allow it to purchase 2408 square feet and a 5396 square foot temporary construction easement, of a parcel of land owned by the City of Renton. The request included an offer of $6,300, $4,800 and $1,500, for the conveyance and easement , respectively. The request also stated, that should the City reject the offer, the Department of Transportation will proceed with an eminent domain condemnation suit to acquire the property and rights at issue. The Property and Technical Services Section routed the request to other City Departments for review and comment. This resulted in several requests for additional information: mapping of wetlands in the vicinity of the area of interest and provision of the comparables to develop the offer. The legal descriptions in the deed and easement documents along with the comparables were reviewed and found acceptable. In addition, the City Attorney’s office reviewed and approved the deed and easement documents. cc:Jay Covington, CAO Iwen Wang, FIT Administrator 6b. - Community and Economic Development Department recommends Page 4 of 71 FA No. F-167 ( ) RES-306 Project No. A40504C Revised 06/10 Page 1 of 4 pages Parcel No. 1-23599 After recording return document to: State of Washington Department of Transportation Real Estate Services Office P O Box 47338 Olympia WA 98504-7338 Document Title: Quitclaim Deed Reference Number of Related Document: N/A Grantor: City of Renton Grantee: State of Washington, Department of Transportation Legal Description: Ptn Lots 1 through 32, Blk 6, C.D. Hillman's Earlington Gardens Divisions No. 1, Vol 17, pg 74, King County Additional Legal Description is on Page 4 of Document Assessor's Tax Parcel Numbers: Ptn 334040-0585-08 QUITCLAIM DEED State Route 167, S. 55th St. Vic. to SR 405 Vic. The Grantor, The CITY of RENTON, a Washington municipal corporation, for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other valuable consideration, hereby conveys and quitclaims to the State of Washington, acting by and through its Department of Transportation, Grantee, the following described real property, and any after acquired interest therein, situated in King County, in the State of Washington, under the imminent threat of the Grantee's exercise of its right of Eminent Domain: For legal description and additional conditions, see Exhibit A attached hereto and made a part hereof. Also, the Grantor request the Assessor and Treasurer of said County to set over to the remainder of the hereinafter described PARCEL "A", the lien of all unpaid taxes, if any, affecting the real estate herein conveyed, as provided for by RCW 84.60.070. 6b. - Community and Economic Development Department recommends Page 5 of 71 QUITCLAIM DEED RES-306 Page 2 of 4 pages Parcel No. 1-23599 It is understood and agreed that delivery of this deed is hereby tendered and that the terms and obligations hereof shall not become binding upon the State of Washington unless and until accepted and approved hereon in writing for the State of Washington, by and through its Department of Transportation, by its authorized agent. Dated , 2014 CITY OF RENTON, a Washington municipal corporation By: DENIS LAW, Mayor Accepted and Approved STATE OF WASHINGTON, Department of Transportation By: Hal Wolfe, Northwest Region Real Estate Services Manager, Authorized Agent Date: 6b. - Community and Economic Development Department recommends Page 6 of 71 QUITCLAIM DEED RES-306 Page 3 of 4 pages Parcel No. 1-23599 STATE OF WASHINGTON ) : ss. County of King ) On this day of , 2014, before me personally appeared DENIS LAW, to me known to be the Mayor of the City of Renton, Washington who executed the within and foregoing instrument and acknowledged said instrument to be the free and voluntary act and deed of said City, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument. GIVEN under my hand and official seal the day and year last above written. Notary (print name) Notary Public in and for the State of Washington, residing at My Appointment expires Notary Seal Please stay within block. 6b. - Community and Economic Development Department recommends Page 7 of 71 QUITCLAIM DEED RES-306 Page 4 of 4 pages Parcel No. 1-23599 EXHIBIT A All that portion of the hereinafter described TRACT "X" lying easterly and northerly of a line beginning at a point opposite Highway Engineer's Station (hereinafter referred to as HES) FL 311+08 on the FL line survey of SR 167, S. 55th St. Vic. to SR 405 Vic. and 50 feet westerly therefrom; thence northerly parallel with said line survey to a point opposite HES FL 312+11.45 thereon; thence northerly along the arc of a curve to the right having a radius of 1,959.87 feet for an arc distance of 90.87 feet to a point opposite HES FL 313+00 on said line survey and 50 feet westerly therefrom; thence northerly along the arc of a curve to the right having a radius of 1,539 feet for an arc distance of 182.17 feet to a point opposite HES FL 314+80 on said line survey and 66 feet westerly therefrom; thence northwesterly along the arc of a curve to the left having a radius of 37 feet for an arc distance of 56.15 feet to a point opposite HES FL 315+16 on said line survey and 102 feet westerly therefrom; thence westerly to a point opposite said HES FL 315+16 and 124 feet westerly therefrom; thence northerly parallel with said line survey to a point opposite HES FL 315+22± thereon, said point being the northerly line of said Block 6 and the end of this line description.. PARCEL "A" Lots 1 to 32, inclusive, Block 6, C.D. Hillman's Earlington Gardens Division No. 1, according to the plat thereof recorded in Volume 17 of Plats, page 74, in King County, Washington; TOGETHER with vacated streets adjacent which attach by operation of law, by City of Renton Ordinance No 3968, recorded under King County Recording No. 8601080902; EXCEPT that portion conveyed to the State of Washington for highway by Superior Court Cause No. 576018; EXCEPT that portion conveyed to the City of Renton for road by instrument recorded under King County Recording No. 8202160350. The lands herein described contain an area of 2,408 square feet, more or less, the specific details concerning all of which are to be found on sheet 14 of that certain plan entitled SR 167, S. 55th St. Vic. to SR 405 Vic., now of record and on file in the office of the Secretary of Transportation at Olympia, and bearing date of approval July 8, 2005, revised September 19, 2013. Grantor's Initials 6b. - Community and Economic Development Department recommends Page 8 of 71 FA No. F-167 ( ) RES-325 Project No. A40504C Revised 06/10 Page 1 of 4 pages Parcel No. 1-23599 After recording return document to: State of Washington Department of Transportation Real Estate Services Office P. O. Box 47338 Olympia, WA 98504-7338 Document Title: Temporary Easement Reference Number of Related Document: N/A Grantor: City of Renton Grantee: State of Washington, Department of Transportation Legal Description: Ptn Lots 1 through 32, Blk 6, C.D. Hillman's Earlington Gardens Divisions No. 1, Vol 17, pg 74, King County Additional Legal Description is on Page 4 of Document Assessor's Tax Parcel Numbers: Ptn 334040-0585-08 TEMPORARY EASEMENT State Route 167, S. 55th St. Vic. to SR 405 Vic. The Grantor, The CITY of RENTON, a municipal corporation, for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) and other valuable consideration, conveys and grants unto the State of Washington, acting by and through its Department of Transportation and its assigns, Grantee, under the imminent threat of the Grantee's exercise of its right of Eminent Domain, the right, privilege and easement over, upon, and across the hereinafter described lands for the purpose of providing a work area for adjacent highway construction-related activities. The temporary rights herein granted shall terminate 2 years from commencement of construction on this parcel or December 31, 2017, whichever date occurs first. Said lands being situated in King County, in the State of Washington, and described as follows: For legal description and additional conditions, see Exhibit A attached hereto and made a part hereof. 6b. - Community and Economic Development Department recommends Page 9 of 71 TEMPORARY EASEMENT RES-325 Page 2 of 4 pages Parcel No. 1-23599 It is understood and agreed that delivery of this Temporary Easement is hereby tendered and that the terms and obligations hereof shall not become binding upon the State of Washington, unless and until accepted and approved hereon in writing for the State of Washington, by and through its Department of Transportation, by its authorized agent. Dated , 2014 CITY OF RENTON, a Washington municipal corporation By: DENIS LAW, Mayor Accepted and Approved STATE OF WASHINGTON, Department of Transportation By: Hal Wolfe, Northwest Region Real Estate Services Manager, Authorized Agent Date: 6b. - Community and Economic Development Department recommends Page 10 of 71 TEMPORARY EASEMENT RES-325 Page 3 of 4 pages Parcel No. 1-23599 STATE OF WASHINGTON ) : ss. County of King ) On this day of , 2014, before me personally appeared DENIS LAW, to me known to be the Mayor of the City of Renton, Washington who executed the within and foregoing instrument and acknowledged said instrument to be the free and voluntary act and deed of said City, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument. GIVEN under my hand and official seal the day and year last above written. Notary (print name) Notary Public in and for the State of Washington, residing at My Appointment expires Notary Seal Please stay within block. 6b. - Community and Economic Development Department recommends Page 11 of 71 TEMPORARY EASEMENT RES-325 Page 4 of 4 pages Parcel No. 1-23599 EXHIBIT A All that portion of the hereinafter described PARCEL "A" lying within a tract of land beginning at a point opposite Highway Engineer's Station (hereinafter referred to as HES) FL 311+08 on the FL line survey of SR 167, S. 55th St. Vic. to SR 405 Vic. and 50 feet westerly therefrom; thence northerly parallel with said line survey to a point opposite HES FL 312+11.45 thereon; thence northerly along the arc of a curve to the right having a radius of 1,959.87 feet for an arc distance of 90.87 feet to a point opposite HES FL 313+00 on said line survey and 50 feet westerly therefrom; thence northerly along the arc of a curve to the right having a radius of 1,539 feet for an arc distance of 182.17 feet to a point opposite HES FL 314+80 on said line survey and 66 feet westerly therefrom; thence northwesterly along the arc of a curve to the left having a radius of 37 feet for an arc distance of 56.15 feet to a point opposite HES FL 315+16 on said line survey and 102 feet westerly therefrom; thence westerly to a point opposite said HES FL 315+16 and 124 feet westerly therefrom; thence southerly parallel with said line survey to a point opposite HES FL 314+96 thereon; thence easterly to a point opposite said HES FL 314+96 and 90 feet westerly therefrom; thence southeasterly to the point of beginning. PARCEL "A" Lots 1 to 32, inclusive, Block 6, C.D. Hillman's Earlington Gardens Division No. 1, according to the plat thereof recorded in Volume 17 of Plats, page 74, in King County, Washington; TOGETHER with vacated streets adjacent which attach by operation of law, by City of Renton Ordinance No 3968, recorded under King County Recording No. 8601080902; EXCEPT that portion conveyed to the State of Washington for highway by Superior Court Cause No. 576018; EXCEPT that portion conveyed to the City of Renton for road by instrument recorded under King County Recording No. 8202160350. The lands herein described contain an area of 5,396 square feet, more or less, the specific details concerning all of which are to be found on sheet 14 of that certain plan entitled SR 167, S. 55th St. Vic. to SR 405 Vic., now of record and on file in the office of the Secretary of Transportation at Olympia, and bearing date of approval July 8, 2005, revised September 19, 2013. Grantor's Initials 6b. - Community and Economic Development Department recommends Page 12 of 71 6b. - Community and Economic Development Department recommends Page 13 of 71 FEDERAL AID NO: WORK ORDER: GROUP: WORK OP: C S: RW 5233 01 0221 174303 OBJECT VOUCHER NO:PROJECT NO. CODES RW PLAN TITLE SQ FT/AC DATE EXPIRES: FED PART. Y/N AMOUNT: LEGAL QQSTR JE 20 2,408 sf Y $4,800.00 JA11 TEMPORARY RIGHT 5,396 sf Y $1,500.00 $0.00 $0.00 TEMPORARY RIGHT TOTAL AMOUNT DUE: $6,300.00 RES-336 01/14 $0.00 $0.00 LAND: FEE EASEMENT IMPROVEMENTS: BUILDING FENCE OTHER DAMAGES: COST TO CURE PROXIMITY OTHER SPECIAL BENEFITS ACQUISITION REMAINDER OTHER COST TO CURE DAMAGES PROXIMITY DAMAGES OTHER DAMAGES SEA ESCROW FEE F-167 ( )413001 ORG NO: SR 167, S. 55th St. Vic. to SR 405 Vic. REAL ESTATE EXCISE TAX EASEMENT BUILDING FENCE OTHER IMPROVEMENTS SALVAGE AMOUNT PRE PAID RENT OTHER ADMINISTRATIVE SETTLEMENT FEE DEDUCTIONS: INTERNAL CODING SHEET FOR REAL PROPERTY VOUCHER A40504C0 PARCEL NO.: 1-23599 PtnSW¼ S19,T23,R5E $0.00 $0.00REMAINDER: UNECONOMIC REMNANT EXCESS ACQUISITION AMOUNT PREVIOUSLY PAID PERFORMANCE BOND 6b. - Community and Economic Development Department recommends Page 14 of 71 CITY OF RENTON COUNCIL AGENDA BILL Subject/Title: Increase the Public Works Department Transportation Systems Division by 2.0 FTE by Hiring a 1.0 FTE Civil Engineer III and a 1.0 FTE Administrative Secretary I Meeting: REGULAR COUNCIL - 13 Apr 2015 Exhibits: A. Issue Paper Submitting Data: Dept/Div/Board: Public Works Staff Contact: Doug Jacobson, Deputy Public Works Administrator, ext. 7242 Recommended Action: Refer to Finance Committee Fiscal Impact: Expenditure Required: $ 149,062 (2015); $247,199 (2016) Transfer Amendment: $N/A Amount Budgeted: $ N/A Revenue Generated: $N/A Total Project Budget: $ N/A City Share Total Project: $ N/A SUMMARY OF ACTION: The Public Works Department Transportation Systems Division requests authorization to increase staffing by 2.0 FTE so that it can hire a 1.0 FTE Civil Engineer III, which will increase project management capacity within the division, and a 1.0 FTE Administrative Secretary I, to assist in the management of project records, timelines, bid documents and other project specific duties. The estimated expenditure, including benefits, for adding the positions is as follows: Funding for these positions will be from the Street Fund 003 with approximately 50% of their time charged to the various project grants (Fund 317). Adding these new staff members will reduce the need to contract with outside consultants, help ensure timelines are met for obligating project grant funds, and will allow for the workload to be performed within the Transportation Design Section. Position 2015 (5/1 – 12/31) 2016 Civil Engineer III (1.0 FTE) $85,463 $142,666 Administrative Secretary I (1.0 FTE) $63,599 $104,533 TOTAL $149,062 $247,199 STAFF RECOMMENDATION: Authorize an increase to staffing by adding a 1.0 FTE Civil Engineer III and a 1.0 FTE Administrative Secretary I to the Public Works Department Transportation Systems Division. The budget adjustment for funding these positions will be incorporated into the next budget adjustment ordinance. 6c. - Transportation Systems Division requests authorization of an increase to Page 15 of 71 PUBLIC WORKS DEPARTMENT M E M O R A N D U M DATE:March 25, 2015 TO:Ed Prince, Council President Members of the Renton City Council VIA:Denis Law, Mayor FROM:Gregg Zimmerman, Public Works Administrator STAFF CONTACT:Doug Jacobson, Deputy Public Works Administrator, Transportation (ext. 7242) SUBJECT:Increase the Public Works Department Transportation Systems Division by 2.0 FTE by Hiring a 1.0 FTE Civil Engineer III and a 1.0 FTE Administrative Secretary I ISSUE: Should authorization be granted to the Public Works Department Transportation Systems Division to increase staffing by 2.0 FTE to hire a 1.0 FTE Civil Engineer III and a 1.0 FTE Administrative Secretary I, effective May 1, 2015? RECOMMENDATION: Authorize the Public Works Department Transportation Systems Division to increase staffing by 2.0 FTE to hire a 1.0 FTE Civil Engineer III and a 1.0 FTE Administrative Secretary I, effective May 1, 2015. The budget adjustment for funding these positions will be incorporated in the next budget adjustment ordinance. BACKGROUND SUMMARY: The Public Works Department requests authorization to add a Civil Engineer III and an Administrative Secretary I to the Transportation Systems Division Design Section. The Transportation Design Section has reached a point where they are no longer able to keep up with the workload associated with designing and building transportation projects established in the Six-Year TIP and the budget due to the large number of project grants we have received and the number and complexity of the projects. The Transportation Design Section is currently comprised of 1 section manager and 3 civil engineers. The section manager does not manage individual projects, but supports the civil engineers to get their assigned projects built on time and within budget. In 2008, the Transportation Design Section had a staff of 4 civil engineers and one engineering 6c. - Transportation Systems Division requests authorization of an increase to Page 16 of 71 Ed Prince, Council President Members of the Renton City Council Page 2 of 2 March 25, 2015 specialist, but a reduction in funding due to the economic downturn resulted in a reduction of 2 positions. The extensive TIP continues to be managed by only 3 civil engineers, resulting in an inability to maintain project schedules without seeking assistance from other Transportation Systems Division sections such as Planning, Operations and Administration. This has been a steadily growing issue which has been exacerbated by the large number of smaller projects currently in the TIP. With minimal staff available to oversee TIP projects the city is at risk of losing grant funding with obligation deadlines should such projects be delayed. We are projecting now that we will not be able to completely manage the workload in 2015. Further analysis has shown that between 4 and 6 civil engineers will be needed in 2015 and 2016 to effectively and efficiently manage TIP projects. The addition of a 1.0 FTE civil engineer to increase project management capacity and a 1.0 FTE administrative secretary to assist in the management of project records, timelines, bid documents and other project specific duties, will allow the civil engineers to keep up with the project workload and also reduce the scope of work currently being done by consultants. Below is a summary of the expenditures (salary and benefits) required per position for the new staff members. A 1.0 FTE Civil Engineer III costs approximately $62 per hour, including benefits. The billable rate for a typical consultant with a similar skill set ranges from $130-150 per hour. A 1.0 FTE Administrative Secretary I costs approximately $46 per hour, including benefits. The billable rate for a typical consultant with a similar skill set ranges from $85-100 per hour. TOTAL COST PER POSITION PER YEAR, INCLUDING BENEFITS 2015*2016 Administrative Secretary I $63,598.60 $104,533.16 Civil Engineer III $85,463.24 $142,665.21 *2015 figure assumes start date of May 1, 2015 The increase of 2.0 FTEs to the Transportation Systems Division will allow the workload to be performed within the Transportation Design Section. It will also have the benefit of improving the productivity of the Transportation Planning and Transportation Operations sections because Transportation Design projects will no longer be assigned to staff from these sections. The positions will be funded by the Street Fund 003 with approximately 50% of the hours of these two new staff members being funded from grants for their assigned projects (Fund 317). cc:Iwen Wang, Administrative Services Administrator Nancy Carlson, Human Resources/Risk Management Administrator Doug Jacobson, Deputy Public Works Administrator, Transportation Bob Hanson, Transportation Design Manager Cathryn Laird, Human Resources Manager Hai Nguyen, Finance Analyst 6c. - Transportation Systems Division requests authorization of an increase to Page 17 of 71 CITY OF RENTON COUNCIL AGENDA BILL Subject/Title: Final Pay Estimate: CAG 14-078, Sewer Radio Panel Relocation and Lift Station Improvements Meeting: REGULAR COUNCIL - 13 Apr 2015 Exhibits: A. Final Pay Estimate B. Notice Of Completion of Public Works Contract Submitting Data: Dept/Div/Board: Public Works Staff Contact: Michael Benoit, ext. 7206 Recommended Action: Council Concur. Fiscal Impact: Expenditure Required: $ 6,022.50 (Final Pay Est.) Transfer Amendment: $N/A Amount Budgeted: $ 10,000 Revenue Generated: $N/A Total Project Budget: $ 100,000 (2015)City Share Total Project: $ N/A SUMMARY OF ACTION: The project was awarded on July 7, 2014 to Equity Builders, LLC. Construction began on October 30, 2014, and was completed on March 27, 2015. The original contract amount was $145,799.25 and the final amount is $146,918.01, an increase of $1,118.76 or less than 1%. The cost increase was due to additional specialized materials to resolve a changed condition. The 2014-2015 budget for the Sewer Radio Panel Relocation and Lift Station Improvements Project is $190,000 (account 426.465504). The amount budgeted for this project is enough to cover the construction, engineering and staff costs of this project. STAFF RECOMMENDATION: Approval of the project, authorization for final pay estimate in the amount of $6,022.50, commencement of a 60 day lien period, and release the retainage in the amount of $6,708.57 to Equity Builders, LLC, contractor, subject to the receipt of all required authorizations. 6d. - Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Page 18 of 71 FROM:FINANCEDIRECTORPUBLICWORKSADMINISTRATORCONTRACTOR:CONTRACTNO.EquityBuildersLLCCAG-14-078PO#18/0001923ESTIMATENO.4&FinalPROJECT:SewerRadioPanelRelocationandLiftStationImprovements1.CONTRACTOREARNINGSTHISESTIMATE$5,500.002.SALESTAX(ONLYONSCHEDAITEMS)©9.50%$522.503.TOTALCONTRACTAMOUNTTHISESTIMATE$6,022.504.EARNINGSPREVIOUSLYPAIDCONTRACTOR$122,238.135*EARNINGSDUECONTRACTORTHISESTIMATE$5,225.006.SUBTOTAL-CONTRACTORPAYMENTS$127,463.137.RETAINAGEONPREVIOUSEARNINGS$6,433.578.**RETAINAGEONEARNINGSTHISESTIMATE$275.009.SUBTOTAL-RETAINAGE$6,708.5710.SALESTAXPREVIOUSLYPAID$12,223.8111.SALESTAXDUETHISESTIMATE$522.5012.SUBTOTAL-SALESTAX$12,746.31(95%xLINEI)(RETAINAGE:5%)GRANDTOTAL:$146,918.01FINANCEDEPARTMENTACTIONPAYMENTTOCONTRACTOR(Lines5and11):ACCOUNT#426.465504.018.594.35.63.000RETAINEDAMOUNT(Line8):ACCOUNT#426.465504.018.594.35.63.000$5,747.50#4&Final$275.00#4&Final$5,747.50$275.00CHARTER116,LAWSOF1965CITYOFRENTONCERTIFICATIONI.THEUNDERSIGNEDDOHEREBYCERTIFYUNDERPENALTYOFPERJURY,THATTHEMATERIALSHAVEBEENFURNISHED,THESERVICESRENDEREDORTHELABORPERFORMEDASDESCRIBEDHEREIN,ANDTHATTHECLAIMISAJUST,DUEANDUNPAIDOBLIGATIONAGAINSTTHECITYOFRENTON.ANDTHATIAUTHORIZEDTOAUTHENTICATEANDCERTIFYTOSAIDSigned:TOTALTHISESTIMATE:$6,022.50PrintedOn:03/27/2015CityofRentonPublicWorksDepartmentPage16d. - Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Page 19 of 71 PrintedOn:03/27/2015Project:SewerRadioPanelRelocationandLiltStationImprovementsContractor:EquityBuildersLLCItemDescriptionNo.ScheduleCityofRentonPublicWorksDepartmentPage1ContractNumber:CAG-14-078PayEstimate4&FinalClosingOste:03/27/2015UnitEat.UnitPreviousPreviousThisThisTotalTotatQuantityPriceQuantityAmountQuantityAmountQuantityAmountMobilizationandDemobilization(nottoexceed10%of001.contracttotal)LumpSum1$11000.00002.TrafficControlLumpSum154,000.00003.MillAveManholeImprovementsLumpSum1$25000.00004.MainAvenueManhoteImprovementsLumpSam1$2000.00005.AdjustableGuardRailandChainEach2$700.00006.AccessHatchModification-GuardRailSystemEach30$925.00007.AccessHatchModification-GuardPontandChainSystemEach10$1000.00008.HazenReservoirRadioRepeaterRelocationLumpSum1$26,000.00009.WestHiltReservoirRadioRepealerRelocationLumpSum1$26,000.00ChangeOrder#1StantessSteelClampsforExternal010.MountingofCableLumpSum1$1,096.70Subtotal9.5%SalesTaxTotal0.50$5,500.001.00$4,000.001.00$25,000.001.00$2,000.002.00$1,400.0031.00$28,675.009.00$9,000.001.00$26,000.001.00$26,000.001.00$1,096.70$126671.70$12,223.81$140,895.510.50$5,500.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$5,500.00$522.50$6,022.501.00$11,000.001.00$4,000.001.00$25,000.001.00$2,000.002.00$1,400.0031.00$28,675.009.00$9,000.001.00$26,000.001.00$26,000.001.00$1,096.70$134,171.70$12,746.31$146,918.01c/?n‘6d. - Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Page 20 of 71 NOTICEOFCOMPLETIONOFPUBLICWORKSCONTRACTContractor’sUBINumber:602220464Date:03/27/2015Name&AddressofPublicAgencyDepartmentUseOnlyCityofRentonAssignedto:1055SouthGradyWayRenton,WA98057DateAssigned:UBINumber:177000094____________________________NoticeisherebygivenrelativetothecompletionofcontractorprojectdescribedbelowProjectName- -ContractNumberJobOrderContractingSewerRadioPanelRelocationandLiftStationImprovementsCAG-14-078ElYesElNoDescriptionofWorkDone/IncludeJobsiteAddress(es)Relocateradiorepeaterpanelsandmiscellaneoussafetyimprovementstosewerstructures.Federallyfundedroadtransportationproject?ElYesElNoContractor’sNameTelephoneNumberAffidavitffl*EquityBuildersLLC360-592-2929ContractorAddress5066E26thDr,Bellingham,WA98226IfRetainageisBonded,ListSurety’sName(orattachacopy)N/ASuretyAgent’sAddressDateContractAwardedDateWorkCommencedDateWorkCompletedDateWorkAcceptedJuly7,2014October30z.Ji”March27,2015ContractAmount$133,150.00Additions(+)$2,021.70LiquidatedDamages$Reductions(-)$1,000.00AmountDisbursed$140,209.44Sub-Total$134,171.70AmountRetained$6,708.57AmountofSalesTaxPaidat9.500%(Ifvariousratesapply,pleasesendabreakdown)$12,746.31TOTAL$146,918.01TOTAL$146,918.01NOTE:ThesetwototalsmustbeequalPleaseListallSubcontractorsandSub-tiersBelow:SubcontractorsName:UBINumber:(Required)AffidavitID*AdvancedPower,LLC602633757566839f2l5-038-00007-2012REV310020e(07/06/12)Continuedonpage26d. - Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Page 21 of 71 PleaseListallSubcontractorsandSub-tiersBelow:Subcontractor’sName:UBINumber:(Required)AffidavitID*Comments:ContactName:NatalieWissbrodTitle:AccountingAssistantEmailAddress:nwissbrod@rentonwa.govPhoneNumber:425-430-6919flUtC.IlitLIi3UUi5HiJIiILUiIllUstSUUI1ULtillsLUllllCtUUlIUtILLflhlIIiLUiUttlydILLIdLLLjJIUIILLUItilLWUIKVUIILUHUCItillsLUIItIULL.NOPAYMENTSHALLBEMADEFROMRETAtNEDFUNDSuntilreceiptofallreleasecertificates.AffidavitID*-Provideknownonesatthistime.NoLNIreleasewillbegranteduntilallaffidavitsarecompleted.SubmittingForm:Pleasesubmitthecompletedformtoallthreeagenciesbelow.Forafasterresponse.pleasesubmitbye-mail.WashingtonState.-.-.washingtonState“IashingtonStatetepartmentofRevenue-.-‘epartmentofLaborandIndustries‘mploymentSecurityDepartmentublicWorksSection.-:ontractReleaseegistration,Inquiry,Standards&1DOBox47474-.-0Box44274...oordinationUnitOlympiaWA96504-7474Olympia,WA96504-4272P0Box9046(360)725-7588(360)902-5772OlympiaWA98507-9046FAX(360)664-4159FAX(360)902-6897(360)902-9450PWC@dor.wa.govContractRelease@lni.wa.govFax(360)902-9287publicworks@esd.wa.govFortaxassistanceortorequestthisdocumentinanalternateformat,visithttp://dor.wa.govorcall1-800-647-7706.Teletype(TTY)usersmaycall(360)705-6718.f215-038-00007-2012REV3l0020e(07/06/12)6d. - Utilities Systems Division submits CAG 14-078, Sewer Radio Panel Page 22 of 71 CITY OF RENTON COUNCIL AGENDA BILL Subject/Title: Establishment of the SE 165th Street Sewer Extension Special Assessment District Meeting: REGULAR COUNCIL - 13 Apr 2015 Exhibits: A. Issue Paper B. Draft Notice of Potential Assessment C. Draft Assessment District Roll Submitting Data: Dept/Div/Board: Public Works Staff Contact: Michael Benoit, x7206 Recommended Action: Refer to Utilities Committee. Fiscal Impact: Expenditure Required: $ N/A Transfer Amendment: $N/A Amount Budgeted: $ N/A Revenue Generated: $N/A Total Project Budget: $ N/A City Share Total Project: $ N/A SUMMARY OF ACTION: The SE 165th Street Sewer Extension Project is close to being advertised for bid for construction. To ensure the cost of this project is equitably distributed to those who benefit, a Special Assessment District needs to be established. STAFF RECOMMENDATION: Authorize the establishment of the SE 165th St. Sewer Extension Special Assessment District (SAD), in the estimated amount of $143,000, to ensure that project costs are equitably distributed to those who benefit, and direct staff to proceed with the establishment of the final SAD upon completion of the construction of the SE 165th St. Sewer Extension Project. 6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 23 of 71 PUBLIC WORKS DEPARTMENT M E M O R A N D U M DATE:April 1, 2015 TO:Ed Prince, Council President Members of Renton City Council VIA:Denis Law, Mayor FROM:Gregg Zimmerman, Administrator STAFF CONTACT:Mike Benoit, Wastewater Utility, x7206 SUBJECT:Establishment of the SE 165th Street Sewer Extension Special Assessment District ISSUE: Should the City of Renton form a Special Assessment District to ensure that the cost of the SE 165th Street Sewer Extension Project is equitably distributed to those who benefit? RECOMMENDATION: Approve the preliminary SE 165th Street Sewer Extension Special Assessment District and direct staff to proceed with the establishment of the final Special Assessment District upon completion of the construction of the SE 165th Street Sewer Extension Project. BACKGROUND SUMMARY: The Wastewater Utility is moving forward with the proposal to construct the SE 165th Street Sewer Extension Project. This project will install sanitary sewer in SE 165th Street (aka South 28th Street) between 106th Place SE (aka High Avenue South) and 108th Avenue SE (aka Jones Avenue South). This project will provide direct sanitary sewer service to properties adjacent to the new sewer main (map attached). The Wastewater Utility has proposed to use a per-connection method of calculating the assessments for the properties within the proposed assessment district. This method takes the size of the existing parcels and anticipates how many single-family equivalent residences could be constructed in accordance with the City’s proposed zoning for the area. 6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 24 of 71 Mr. Prince, Council President Page 2 of 2 April 1, 2015 \MABtp The estimated cost of the new sewer system is $143,000. Based upon zoning, there is a potential for 11 lots that will benefit from the proposed sewer. Therefore, the estimated assessment will be $13,000 per lot. CONCLUSION: It has been the policy of the City that when sanitary sewer facilities have been installed that the City creates a Special Assessment District to ensure that each property benefitting from the new facility pays its fair share of the costs. This policy helps to ensure that the existing ratepayers do not pay a disproportionate share of the costs for system expansion or growth. Therefore, we recommend that Council approve staff’s request for establishment of a preliminary Special Assessment District and direct staff to prepare the final Special Assessment District upon completion of the construction of the sewer mains. Attachment cc: Lys Hornsby, Utility Systems Director Dave Christensen, Wastewater Utility Engineering Manager 6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 25 of 71 CITYOFRENTONNOTICEOFPOTENTIALASSESSMENTNOTICEOFPRELIMINARYHEARINGForCityofRentonSpecialAssessmentDistrictSE165thSTREETSEWEREXTENSION(1stPreliminaryNotice)Mailed:April28,2015Parcel#<<TAXPAYER_N>>ASSESSMENT<<PRCLN>>(<TAXPAYER_B>>$13,00.00perunit<<TAXPAYER_C>>,WA<<ZIP>>KingCountyAccountNo.<<PRCLN>>LEGALDESCRIPTION:LOT<<PLATLOT>>,BLOCK<<PLATBLOCK>>,<<PLATNAME>,<<PLAT_DESCRIPTION>>PerStateLaw(RCW35.92.025)andCityOrdinanceNo.4444theCitymayholdanOrdinanceagainsttheconstructionofwaterfacilities,sewerfacilities,stormwaterfacilities,andstreetimprovementsincludingsignalizationandlighting,forthereimbursementbyanyownerofrealestatewhodidnotcontributetotheoriginalcostofsuchfacility(ies)whosubsequentlytapontoorusesaidfacilityfies).Futureusersatesubjecttoafairpro-ratashareofthecostoftheconstructionofsaidfacility(ies).Costswillbecomepayablebythefutureuser(s)uponissuanceofaCitypermitauthorizingthefutureuser(s)toconstructimprovementsthatwouldallowtheuserspropertytoderivedirectbenefitfromthesefacilities.Itistheintentofthisnoticetoinformyou,thatundertheabovequotedlaw,thePublicWorksDepartmentoftheCityofRentonhasfiledarequestwiththeRentonCityCouncil,torecoveraportionoftheCity’scostsassociatedwiththefollowingprojectandthatthecostrecoverymaylikelyaffectyourproperty.Contract:SpecialAssessmentDistrictNo.0048EstimatedConstructionstartdateMay2015.ScopeofWork:Installapproximately340linearfeetof8”gravitysewermaintoprovidelocalsewerservicetothepropertiesalongSE165thStreet(akas28thStreet)betweenHighAvenueS(aka106thPlaceSE)and108thAvenueSE(akaJonesAvenueS)Acopyofamapoftheproposedassessmentareaisattached.Approximationofthepreliminary(estimated)potentialassessmentperlotisshownatthetopofthispage,bytheKingCountyTaxAccountnumber.H:\FiIeSys\WWP-WasteWater\WWP-27-03$04SE165thSewerExtension\SpecialAssessmentDistrict\PreliminaryAssessment\Prelim-Assess-Notice-SE165thSt.doc\MABtp6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 26 of 71 ThepurposeofthespecialassessmentdistrictistoallowtheCitytheabilitytocollectthecostsoftheconstructionoftheSE165thStreetSewerExtensionbyallthosewhobenefitfromitsconstruction.Toaccomplishthis,wearerequiredtorecordaNoticeofPotentialAssessmentagainstanyparcelthatmaybenefitinthefuture.Itisourgoaltoensure,infairnesstoall,thatanypropertyownerthatconnectsatalaterdatepaystheirsharejustlikethosewhowillconnectrightaway.Thebenefitareaisdefinedastheultimateservicebasinthisfacilitymaybeabletoserve.Thisboundaryisshownontheattachedmapandislabeled“SpecialAssessmentDistrictBoundary”.Youwillonlyberequiredtopaythisassessmentwhenthepropertygainsbenefitfromthenewsewermain(i.e.whenyourhouseisphysicallyconnectedtotheCity’ssewersystem).Untilthattime,thepropertycanbesoldorchangehandswithoutactivatingtheassessment.Benefitfromthissewerinterceptorcanbedescribedasfollows:•ApropertynotconnectedtoaCitysewerfacility(i.e.,currentlyutilizinganon-sitesystem),thatconnectstothesewersystemassociatedwiththisdistrictwillactivatetheassessment.Untilthen,theassessmentwillnotbeactivated.•PropertythatisconnectedtoCitysewerthroughaTemporarySewerServiceAgreementrequiringparticipationintheextensionofsanitarysewermains.Youwillnotberequiredtopaytheassessmentuntiloneoftheabovesituationsoccurs.However,theassessmentdistrictwillaccruesimpleinterestatarateofbetween6%and8%foraperiodoftenyearsperannum.Theaccrualofinterestwillbeginthirty(30)daysaftertheNoticeofFinalAssessmentisrecordedwithKingCountyRecords.Toavoidinterestchargesatafuturedate,youmaypaytheamountofassessmentduringthethirty-dayperiodafterrecording,interestfree.Thisoptionistotallyatthediscretionofthepropertyowner.Followingconstruction,aftertheCityreceivestheactual(final)costs,asecondnoticewillbemailedtoyouverifyingyourinclusionintheSpecialAssessmentDistrict(recoveryarea)boundary.Aquoteofthefinalassessmentdollaramountswillbeprovidedonthissecondnotice.PerCityOrdinanceNo.4444youmayrequestanappealhearingbywritingtotheRentonCityCouncil,doCityClerk,1055SGradyWay,Renton,WA98057,withintwenty(20)daysofthispreliminarynotice.AppealsmustadheretothecriteriaestablishedunderSections9-16-4and9-16-9.CandDofOrdinanceNo.4444.Duringthispreliminarystage,appealswillbelimitedtotheissueofwhetherornotaspecificpropertyshouldbeincludedinthelatecomerarea.ContactpersonsfortheCityofRentonare:ProjectManager:MichaelBenoit425-430-7206(Calltheprojectmanagerforquestionspertainingtoconstruction,costsorfutureconnectionto,oruseof,theimprovements.lWastewaterUtilitySupervisor:DavidChristensen425-430-7212JasonSeth,CityClerkCitySAD1stNoticeofPreliminaryAssessment/PreliminaryHearingH:\FileSys\WWP-WasteWater\WWP-27-03304SE165thSewerExtension\SpecialAssessmentDistrict\PreliminaryAssessment\Prelim-Notice-SE165thStSewer-pg2,doc\MABtp6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 27 of 71 S27thStSE165THSTSEWEREXTENSIONSPECIALASSESSMENTDISTRICTBOUNDARYS29thStScale1”=100’6e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 28 of 71 CITYOFRENTONPRELIMINARYASSESSMENTROLLSPECIALASSESSMENTDISTRICTSE165thSTREETSEWERType:WastewaterUtilityImprovementsCostperUnit:$13,000PropertyName/AddressofOwnerUnitAssessmentIdentificationParcel#3378100010NGUYENPHILLIP$13,00010644SE165THSTRENTON,WA98055KCTaxAct#3378100010LegalDescription:LOT1,BLOCK1,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel#3378100020SWEENEYDAVIDM+NAOMIK$13,0002340429THAVEWBRIER,WA98036KCTaxAct3378100020LegalDescription:LOT2,BLOCK1,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel#3378100030INGERSOLLROBERTJ+ARLENEB$13,00011224RAINIERAVESSEATTLE,WA98178KCTaxAct#3378100030LegalDescription:LOT3,BLOCK1,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel#3378100040TRANTRUNGDINH$13,00010724SE165THSTRENTON,WA98055KCTaxAct#3378100040LegalDescription:LOT4,BLOCK1,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel#3378100050KNAPPKARL+EVA$13,00010720SE165THSTRENTON,WA98058KCTaxAct#3378100050LegalDescription:LOT5,BLOCK1,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONH:\FiIeSys\WWP-WasteWater\WWP-27-03804SE165thSewertxtension\SpecialAssessmentDistrict\PreliminaryAssessment\PreIimSADRollSE165thMM.docPagelof26e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 29 of 71 CITYOFRENTONPRELIMINARYASSESSMENTROLLSPECIALASSESSMENTDISTRICTSE165thSTREETSEWERType:WastewaterUtilityImprovementsCostperUnit:$13,000PropertyName/AddressofOwnerUnitAssessmentIdentificationParcel#3378100070SIDEBOTHAMCOLLIN÷JANELLE$13,00010745SE165THSTRENTON,WA98055KCTaxAct#3378100070LegalDescription:LOT1,BLOCK2,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel4*3378100080BUSTER-BURNSCYNTHIAM$13,0002007NE12THSTRENTON,WA98056KCTaxAct4*3378100080LegalDescription:LOT2,BLOCK2,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel4*3378100090ZHUHAIRAN$13,000PDBOX524KIRKLAND,WA98033KCTaxAct#3378100090LegalDescription:LOT3,BLOCK2,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONParcel#3378100100SKYWORKINVESTMENTDLLC$13,000P0BOX524KIRKLAND,WA98033KCTaxAct4*3378100100LegalDescription:LOT4,BLOCK2,HILLTOPHEIGHTSADD,VOLUME75,PAGES79-80,KINGCOUNTYWASHINGTONH:\FiIeSys\WWP-WasteWater\WWP-27-03804SE165thSewerExtension\SpecialAssessmentDistrict\PreliminaryAssessment\PrelimSADRollSE165thMM.docPagelof26e. - Utilities Systems Division requests authorization to establish the SE 165th St. Page 30 of 71 I’i’P2VCett5CITYOFRENTON,WASHINGTONLIMITEDTAXGENERALOBLIGATIONREFUNDINGBONDS,SERIES2015ORDINANCENO.ANORDINANCEOFTHECITYOFRENTON,WASHINGTON,PROVIDINGFORTHEISSUANCEOFONEORMORESERIESOFLIMITEDTAXGENERALOBLIGATIONREFUNDINGBONDSOFTHECITYINTHEAGGREGATEPRINCIPALAMOUNTOFNOTTOEXCEED$14,000,000TOREFUNDCERTAINOUTSTANDINGLIMITEDTAXGENERALOBLIGATIONBONDSANDTOPAYCOSTSOFISSUINGTHEBONDS;ANDDELEGATINGTHEAUTHORITYTOAPPROVETHEFINALTERMSOFTHEBONDS.PASSED:April13,2015PREPAREDBY:PACIFICALAWGROUPLLPSeattle,Washington8a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 31 of 71 ORDINANCENO.TABLEOFCONTENTS*Section1.DefinitionsandInterpretationofTerms2Section2.AuthorizationofBondsandBondDetails$Section3.Registration,ExchangeandPayments8Section4.RedemptionPriortoMaturityandPurchaseofBonds14Section5.FormofBonds18Section6.ExecutionofBonds20Section7.RefundingPlan;ApplicationofBondProceeds21Section8.TaxCovenants23Section9.BondFundandProvisionforTaxLevyPayments26Section10.Defeasance27Section11.SaleofBonds2$Section12.UndertakingtoProvideOngoingDisclosure30Section13.Lost,StolenorDestroyedBonds35Section14.Severability;Ratification35Section15.EffectiveDateofOrdinance36*ThisTableofContentsisprovidedforconvenienceonlyandisnotapartofthisordinance.03/181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 32 of 71 CITYOFRENTON,WASHINGTONORDINANCENO._ __ _ _ _ANORDINANCEOFTHECITYOFRENTON,WASHINGTON,PROVIDINGFORTHEISSUANCEOFONEORMORESERIESOFLIMITEDTAXGENERALOBLIGATIONREFUNDINGBONDSOFTHECITYINTHEAGGREGATEPRINCIPALAMOUNTOFNOTTOEXCEED$14,000,000TOREFUNDCERTAINOUTSTANDINGLIMITEDTAXGENERALOBLIGATIONBONDSANDTOPAYCOSTSOFISSUINGTHEBONDS;ANDDELEGATINGTHEAUTHORITYTOAPPROVETHEFINALTERMSOFTHEBONDS.WHEREAS,theCityofRenton,Washington(the“City”),hasoutstandingitsLimitedTaxGeneralObligationBonds,2006,issuedonAugust8,2006,pursuanttoOrdinanceNo.5215adoptedbytheCityCouncil(the“Council”)oftheCityonJuly17,2006(the“2006BondOrdinance”),whichremainoutstandingasfollows:MaturityDates(December1)PrincipalAmountsInterestRates2015$700,0005.25%2016750,0004.302017775,0005.002019*1,670,0005.002020900,0005.002021945,0005.0020221,000,0005.2520231,040,0005.2520241,095,0005.252028*4,975,0005.00*TermBonds.(the“2006Bonds”);andWHEREAS,the2006BondOrdinanceprovidesthattheCitymaycallthe2006BondsmaturingonorafterDecember1,2017(the“RefundingCandidates”),forredemptiononor8a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 33 of 71 afterDecember1,2016,inwholeorinpartonanydate,atthepriceofparplusaccruedinterest,ifany,tothedateofredemption;andWHEREAS,afterdueconsiderationitappearsthatalloraportionoftheRefundingCandidates(the“RefundedBonds”)maybedefeasedandrefundedbytheproceedsoflimitedtaxgeneralobligationbondsatasavingstotheCityanditstaxpayers;andWHEREAS,theCouncildeemsitinthebestinterestoftheCitytoissueoneormoreseriesoflimitedtaxgeneralobligationrefundingbondsintheaggregateprincipalamountofnottoexceed$14,000,000(the“Bonds”)toredeemanddefeasetheRefundedBondsandtopaycostsofissuingtheBonds;andWHEREAS,theCouncilwishestodelegateauthoritytotheMayor,ChiefAdministrativeOfficerandFinanceDirector(each,a“DesignatedRepresentative”),foralimitedtime,toapprovetheinterestrates,maturitydates,redemptiontermsandprincipalmaturitiesfortheBondswithintheparameterssetbythisordinance,inordertoeffectsucharefinancing;andWHEREAS,theCityexpectstoreceiveaproposalfromPiperJaffray&Co.(the“Underwriter”)tounderwritetheBonds,andnowdesirestoissueandselltheBondstotheUnderwriterassetforthherein;NOW,THEREFORE,THECITYCOUNCILOFTHECITYOFRENTON,WASHINGTON,DOESORDAINASFOLLOWS:Section1.DefinitionsandInterpretationofTerms.(a)Definitions.Asusedinthisordinance,thefollowingwordsshallhavethefollowingmeanings:AcquiredObligationsmeanstheGovernmentObligationsacquiredbytheCityunderthe—2—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 34 of 71 termsofthisordinanceandtheEscrowAgreementtoeffectthedefeasanceandrefundingoftheRefundedBonds.BeneficialOwnermeansanypersonthathasorsharesthepower,directlyorindirectlytomakeinvestmentdecisionsconcerningownershipofanyBonds(includingpersonsholdingBondsthroughnominees,depositoriesorotherintermediaries).BondFundmeansthe“CityofRentonLimitedTaxGeneralObligationBondDebtServiceFund,2015”authorizedtobecreatedpursuanttoSection9.BondPurchaseContractmeansthecontractforthepurchaseoftheBondsbetweentheUnderwriterandCity,executedpursuanttoSection11.BondRegistermeanstheregistrationbooksshowingthename,addressandtaxidentificationnumberofeachRegisteredOwneroftheBonds,maintainedfortheBondsinthemannerrequiredpursuanttoSection149(a)oftheCode.BondRegistrarmeans,initially,thefiscalagentottheStateotWashington,forthepurposesofregisteringandauthenticatingtheBonds,maintainingtheBondRegister,effectingtransferofownershipoftheBondsandpayinginterestonandprincipaloftheBonds.BondYearmeanseachone-yearperiodthatendsonthedateselectedbytheCity.ThefirstandlastBondYearsmaybeshortperiods.IfnodayisselectedbytheCitybeforetheearlierofthefinalmaturitydateoftheBondsorthedatethatisfiveyearsafterthedateofissuanceoftheBonds,BondYearsendoneachanniversaryofthedateofissueandonthefinalmaturitydateoftheBonds.Bondsmeanthenottoexceed$14,000,000aggregateprincipalamountofCityofRenton,Washington,LimitedTaxGeneralObligationRefundingBonds,Series2015[_],or—3—03/181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 35 of 71 otherseriesdesignationasapprovedbyaDesignatedRepresentative,issuedpursuanttothisordinance.CallDatemeansDecember1,2016.CitymeanstheCityofRenton,Washington,amunicipalcorporationdulyorganizedandexistingbyvirtueofthelawsoftheStateofWashington.CodemeanstheInternalRevenueCodeof1986,asamended,andshallincludeallapplicableregulationsandrulingsrelatingthereto.CommissionmeanstheSecuritiesandExchangeCommission.CouncilmeanstheCityCouncilasthegenerallegislativeauthorityoftheCity,asdulyandregularlyconstitutedfromtimetotime.DesignatedRepresentativemeanstheMayor,theChiefAdministrativeOfficerandtheFinanceDirectoroftheCity,andanysuccessortothefunctionsofsuchoffices.ThesignatureofoneDesignatedRepresentativeshallbesufficienttobindtheCity.DTCmeansTheDepositoryTrustCompany,NewYork,NewYork,alimitedpurposetrustcompanyorganizedunderthelawsoftheStateofNewYork,asdepositoryfortheBondspursuanttoSection3.EscrowAgentmeansU.S.BankNationalAssociation,Seattle,Washington.EscrowAgreementmeanstheEscrowDepositAgreementbetweentheCityandtheEscrowAgent,executedpursuanttoSection7.FederalTaxCertificatemeansthecertificateexecutedbyaDesignatedRepresentativesettingforththerequirementsoftheCodeformaintainingthetaxexemptionofinterestonanyseriesofTax-ExemptBonds,andattachmentsthereto.—4—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 36 of 71 FinanceDirectorshallmeantheCity’sFinanceandInformationServicesAdministratororthesuccessortosuchofficer.GovernmentObligationsmeanthoseobligationsnoworhereafterdefinedassuchinchapter39.53RCW.LetterofRepresentationsmeanstheblanketissuerletterofrepresentationsfromtheCitytoDTC.MSRBmeanstheMunicipalSecuritiesRulemakingBoardoranysuccessorstoitsfunctions.NetProceeds,whenusedwithreferencetoanyseriesofTax-ExemptBonds,meantheprincipalamountofsuchTax-ExemptBonds,plusaccruedinterestandoriginalissuepremium,ifany,andlessoriginalissuediscount,ifany.PrivatePersonmeansanynaturalpersonengagedinatradeorbusinessoranytrust,estate,partnership,association,companyorcorporation.PrivatePersonUsemeanstheuseofpropertyinatradeorbusinessbyaPrivatePersonifsuchuseisotherthanasamemberofthegeneralpublic.PrivatePersonUseincludesownershipofthepropertybythePrivatePersonaswellasotherarrangementsthattransfertothePrivatePersontheactualorbeneficialuseoftheproperty(suchasalease,managementorincentivepaymentcontractorotherspecialarrangement)insuchamannerastosetthePrivatePersonapartfromthegeneralpublic.UseofpropertyasamemberofthegeneralpublicincludesattendancebythePrivatePersonatmunicipalmeetingsorbusinessrentalofpropertytothePrivatePersononaday-to-daybasisiftherentalpaidbysuchPrivatePersonisthesameastherentalpaidbyanyPrivatePersonwhodesirestorenttheproperty.Useof—5—8a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 37 of 71 propertybynonprofitcommunitygroupsorcommunityrecreationalgroupsisnottreatedasPrivatePersonUseifsuchuseisincidentaltothegovernmentalusesofproperty,thepropertyismadeavailableforsuchusebyallsuchcommunitygroupsonanequalbasisandsuchcommunitygroupsarechargedonlyademinimisfeetocovercustodialexpenses.RefundedBondsmeanthoseRefundingCandidatesdesignatedbyaDesignatedRepresentativeforrefundingpursuanttoSection7andSection11.RefundingAccountmeanstheaccountbythatnameestablishedpursuanttoSection7.RefundingCandidatesmeanthe2006BondsmaturingonorafterDecember1,2017,asshownintherecitalstothisordinance.RegisteredOwnermeansthepersonnamedastheregisteredownerofaBondintheBondRegister.ForsolongastheBondsareheldinbook-entryonlyform,DTCshallbedeemedtobethesoleRegisteredOwner.RulemeanstheCommission’sRule15c2-12undertheSecuritiesExchangeActof1934,asthesamemaybeamendedfromtimetotime.TaxableBondsmeansanyBondsdeterminedtobeissuedonataxablebasispursuanttoSection11.Tax-ExemptBondsmeansanyBondsdeterminedtobeissuedonatax-exemptbasisundertheCodepursuanttoSection11.2006BondOrdinancemeansOrdinanceNo.5215adoptedbytheCouncilonJuly17,2006,authorizingtheissuanceofthe2006Bonds.—6—03/181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 38 of 71 2006BondsmeantheLimitedTaxGeneralObligationBonds,2006oftheCity,issuedonAugust8,2006,pursuanttothe2006BondOrdinanceasdescribedintherecitalsofthisordinance.UnderwritermeansPiperJaifray&Co.(b)Interpretation.Inthisordinance,unlessthecontextotherwiserequires:(1)Theterms“hereby,”“hereof,”“hereto,”“herein,”“hereunder”andanysimilarterms,asusedinthisordinance,refertothisordinanceasawholeandnottoanyparticulararticle,section,subdivisionorclausehereof,andtheterm“hereafter”shallmeanafter,andtheterm“heretofore”shallmeanbefore,thedateofthisordinance;(2)Wordsofthemasculinegendershallmeanandincludecorrelativewordsofthefeminineandneutralgendersandwordsimportingthesingularnumbershallmeanandincludethepluralnumberandviceversa;(3)Wordsimportingpersonsshallincludefirms,associations,partnerships(includinglimitedpartnerships),trusts,corporationsandotherlegalentities,includingpublicbodies,aswellasnaturalpersons;(4)Anyheadingsprecedingthetextoftheseveralarticlesandsectionsofthisordinance,andanytableofcontentsormarginalnotesappendedtocopieshereof,shallbesolelyforconvenienceofreferenceandshallnotconstituteapartofthisordinance,norshalltheyaffectitsmeaning,constructionoreffect;and(5)Allreferenceshereinto“articles,”“sections”andothersubdivisionsorclausesaretothecorrespondingarticles,sections,subdivisionsorclauseshereof.—7—03118/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 39 of 71 Section2.AuthorizationofBondsandBondDetails.ForthepurposeofrefundingtheRefundedBondsandpayingcostsofissuanceoftheBonds,theCityisherebyauthorizedtoissueandselloneormoreseriesoflimitedtaxgeneralobligationrefundingbondsintheaggregateprincipalamountofnottoexceed$14,000,000(the“Bonds”).TheBondsshallbegeneralobligationsoftheCity,shallbedesignated“CityofRenton,Washington,LimitedTaxGeneralObligationRefundingBonds,Series2015[J”orothersuchdesignationassetforthintheBondPurchaseContractandapprovedbyaDesignatedRepresentative.TheBondsofaseriesshallbedatedasoftheirdateofinitialdelivery;shallbefullyregisteredastobothprincipalandinterest;shallbeinthedenominationof$5,000each,oranyintegralmultiplethereof,withinamaturity;shallbenumberedseparatelyinsuchmannerandwithanyadditionaldesignationastheBondRegistrardeemsnecessaryforpurposesofidentification;andshallbearinterestpayableonthedatessetforthintheBondPurchaseContract;andshallmatureonthedatesandintheprincipalamountssetforthintheBondPurchaseContractandasapprovedbyaDesignatedRepresentativepursuanttoSection11.TheBondsofanyofthematuritiesmaybecombinedandissuedastermbonds,subjecttomandatoryredemptionasprovidedintheBondPurchaseContract.Section3.Registration,ExchangeandPayments.(a)BondRegistrar/BondRegister.TheCityherebyspecifiesandadoptsthesystemofregistrationapprovedbytheWashingtonStateFinanceCommitteefromtimetotimethroughtheappointmentofastatefiscalagent.TheCityshallcauseabondregistertobemaintainedbytheBondRegistrar.SolongasanyBondsremainoutstanding,theBond—8—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 40 of 71 RegistrarshallmakeallnecessaryprovisionstopermittheexchangeorregistrationortransferofBondsatitsdesignatedcorporatetrustoffice.TheBondRegistrarmayberemovedatanytimeattheoptionoftheFinanceDirectoruponpriornoticetotheBondRegistrarandasuccessorBondRegistrarappointedbytheFinanceDirector.NoresignationorremovaloftheBondRegistrarshallbeeffectiveuntilasuccessorshallhavebeenappointedanduntilthesuccessorBondRegistrarshallhaveacceptedthedutiesoftheBondRegistrarhereunder.TheBondRegistrarisauthorized,onbehalfoftheCity,toauthenticateanddeliverBondstransferredorexchangedinaccordancewiththeprovisionsofsuchBondsandthisordinanceandtocarryoutalloftheBondRegistrar’spowersanddutiesunderthisordinance.TheBondRegistrarshallberesponsibleforitsrepresentationscontainedintheCertificateofAuthenticationoftheBonds.(b)RegisteredOwnership.TheCityandtheBondRegistrar,eachinitsdiscretion,maydeemandtreattheRegisteredOwnerofeachBondastheabsoluteownerthereofforallpurposes(exceptasprovidedinSection12),andneithertheCitynortheBondRegistrarshaHbeaffectedbyanynoticetothecontrary.PaymentofanysuchBondshallbemadeonlyasdescribedinSection3(h),butsuchBondmaybetransferredashereinprovided.AllsuchpaymentsmadeasdescribedinSection3(h)shallbevalidandshallsatisfyanddischargetheliabilityoftheCityuponsuchBondtotheextentoftheamountoramountssopaid.(c)DTCAcceptance/LettersofRepresentations.TheBondsinitiallyshallbeheldinfullyimmobilizedformbyDTCactingasdepository.ToinduceDICtoaccepttheBondsaseligiblefordepositatDIC,theCityhasexecutedanddeliveredtoDTCaBlanketIssuerLetterofRepresentations.NeithertheCitynortheBondRegistrarwillhaveanyresponsibilityor031181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 41 of 71 obligationtoDTCparticipantsorthepersonsforwhomtheyactasnomineesforanysuccessordepository)withrespecttotheBondsinrespectoftheaccuracyofanyrecordsmaintainedbyDTC(oranysuccessordepository)oranyDTCparticipant,thepaymentbyDIC(oranysuccessordepository)oranyDTCparticipantofanyamountinrespectoftheprincipaloforinterestonBonds,anynoticewhichispermittedorrequiredtobegiventoRegisteredOwnersunderthisordinance(exceptsuchnoticesasshallberequiredtobegivenbytheCitytotheBondRegistrarortoDTC(oranysuccessordepository)),oranyconsentgivenorotheractiontakenbyDTC(oranysuccessordepository)astheRegisteredOwner.ForsolongasanyBondsareheldinfully-immobilizedformhereunder,DICoritssuccessordepositoryshallbedeemedtobetheRegisteredOwnerforallpurposeshereunder,andallreferenceshereintotheRegisteredOwnersshallmeanDTC(oranysuccessordepository)oritsnomineeandshallnotmeantheownersofanybeneficialinterestinsuchBonds.IfanyBondshallbedulypresentedforpaymentandfundshavenotbeendulyprovidedbytheCityonsuchapplicabledate,theninterestshallcontinuetoaccruethereafterontheunpaidprincipalthereofattheratestatedonsuchBonduntilitispaid.(d)UseofDepository.(1)TheBondsshallberegisteredinitiallyinthenameof“Cede&Co.”,asnomineeofDTC,withoneBondmaturingoneachofthematuritydatesfortheBondswithinaseriesinadenominationcorrespondingtothetotalprincipalthereindesignatedtomatureonsuchdate.RegisteredownershipofsuchimmobilizedBonds,oranyportionsthereof,maynotthereafterbetransferredexcept(A)toanysuccessorofDTCoritsnominee,providedthatanysuchsuccessorshallbequalifiedunderanyapplicablelawstoprovidetheserviceproposedto—10—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 42 of 71 beprovidedbyit;(B)toanysubstitutedepositoryappointedbytheFinanceDirectorpursuanttosubsection(2)beloworsuchsubstitutedepository’ssuccessor;or(C)toanypersonasprovidedinsubsection(4)below.(2)UpontheresignationofDICoritssuccessor(oranysubstitutedepositoryoritssuccessor)fromitsfunctionsasdepositoryoradeterminationbytheFinanceDirectortodiscontinuethesystemofbookentrytransfersthroughDTCoritssuccessor(oranysubstitutedepositoryoritssuccessor),theFinanceDirectormayhereafterappointasubstitutedepository.Anysuchsubstitutedepositoryshallbequalifiedunderanyapplicablelawstoprovidetheservicesproposedtobeprovidedbyit.(3)Inthecaseofanytransferpursuanttoclause(A)or(B)ofsubsection(1)above,theBondRegistrarshall,uponreceiptofalloutstandingBondsofaseries,togetherwithawrittenrequestonbehalfoftheFinanceDirector,issueasinglenewBondforeachmaturityofthatseriesthenoutstanding,registeredinthenameofsuchsuccessororsuchsubstitutedepository,ortheirnominees,asthecasemaybe,allasspecifiedinsuchwrittenrequestoftheFinanceDirector.(4)Intheeventthat(A)DTCoritssuccessor(orsubstitutedepositoryoritssuccessor)re5ignsfromitsfunctionsasdepository,andnosubstitutedepositorycanbeobtained,or(B)theFinanceDirectordeterminesthatitisinthebestinterestofthebeneficialownersoftheBondsthatsuchownersbeabletoobtainsuchBondsintheformofBondcertificates,theownershipofsuchBondsmaythenbetransferredtoanypersonorentityashereinprovided,andshallnolongerbeheldbyadepository.TheFinanceDirectorshalldeliverawrittenrequesttotheBondRegistrar,togetherwithasupplyofphysicalBonds,toissue1103/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 43 of 71 Bondsashereinprovidedinanyauthorizeddenomination.UponreceiptbytheBondRegistrarofallthenoutstandingBondstogetherwithawrittenrequestonbehalfoftheFinanceDirectortotheBondRegistrar,newBondsofsuchseriesshallbeissuedintheappropriatedenominationsandregisteredinthenamesofsuchpersonsasarerequestedinsuchwrittenrequest.(e)RegistrationofTransferofOwnershiporExchange;ChangeinDenominations.ThetransferofanyBondmayberegisteredandBondsmaybeexchanged,butnotransferofanysuchBondshallbevalidunlessitissurrenderedtotheBondRegistrarwiththeassignmentformappearingonsuchBonddulyexecutedbytheRegisteredOwnerorsuchRegisteredOwner’sdulyauthorizedagentinamannersatisfactorytotheBondRegistrar.Uponsuchsurrender,theBondRegistrarshallcancelthesurrenderedBondandshallauthenticateanddeliver,withoutchargetotheRegisteredOwnerortransfereetherefor,anewBond(orBondsattheoptionofthenewRegisteredOwner)ofthesamedate,series,maturityandinterestrateandforthesameaggregateprincipalamountinanyauthorizeddenomination,namingasRegisteredOwnerthepersonorpersonslistedastheassigneeontheassignmentformappearingonthesurrenderedBond,inexchangeforsuchsurrenderedandcancelledBond.AnyBondmaybesurrenderedtotheBondRegistrarandexchanged,withoutcharge,foranequalaggregateprincipalamountofBondsofthesamedate,series,maturityandinterestrate,inanyauthorizeddenomination.TheBondRegistrarshallnotbeobligatedtoregisterthetransferortoexchangeanyBondduringthe15daysprecedinganyinterestpaymentorprincipalpaymentdateanysuchBondistoberedeemed.—12—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 44 of 71 (f)BondRegistrar’sOwnershipofBonds.TheBondRegistrarmaybecometheRegisteredOwnerofanyBondwiththesamerightsitwouldhaveifitwerenottheBondRegistrar,andtotheextentpermittedbylaw,mayactasdepositoryforandpermitanyofitsofficersordirectorstoactasamemberof,orinanyothercapacitywithrespectto,anycommitteeformedtoprotecttherightoftheRegisteredOwnersofBonds.(g)RegistrationCovenant.TheCitycovenantsthat,untilallBondshavebeensurrenderedandcanceled,itwillmaintainasystemforrecordingtheownershipofeachBondthatcomplieswiththeprovisionsofSection149oftheCode.(h)PlaceandMediumofPayment.BothprincipalofandinterestontheBondsshallbepayableinlawfulmoneyoftheUnitedStatesofAmerica.InterestontheBondsshallbecalculatedonthebasisofayearof360daysandtwelve30-daymonths.ForsolongasallBondsareheldbyadepository,paymentsofprincipalandinterestthereonshallbemadeasprovidedinaccordancewiththeoperationalarrangementsofDTCreferredtointheLetterofRepresentations.IntheeventthattheBondsarenolongerheldbyadepository,interestontheBondsshallbepaidbycheckordraftmailedtotheRegisteredOwnersattheaddressesforsuchRegisteredOwnersappearingontheBondRegisteronthefifteenthdayofthemonthprecedingtheinterestpaymentdate,oruponthewrittenrequestofaRegisteredOwnerofmorethan$1,000,000ofBonds(receivedbytheBondRegistraratleast15dayspriortotheapplicablepaymentdate),suchpaymentshallbemadebytheBondRegistrarbywiretransfertotheaccountwithintheUnitedStatesdesignatedbytheRegisteredOwner.PrincipaloftheBondsshallbepayableuponpresentationandsurrenderofsuchBondsbytheRegisteredOwnersatthedesignatedofficeoftheBondRegistrar.—13—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 45 of 71 IfanyBondshallbedulypresentedforpaymentandfundshavenotbeendulyprovidedbytheCityonsuchapplicabledate,theninterestshallcontinuetoaccruethereafterontheunpaidprincipalthereofattheratestatedonsuchBondsuntilitispaid.Section4.RedemptionPriortoMaturityandPurchaseofBonds.a)MandatoryRedemptionofTermBondsandOptionalRedemption,ifany.TheBondsofaseriesshallbesubjecttooptionalredemptiononthedates,atthepricesandunderthetermssetforthintheBondPurchaseContractapprovedbyaDesignatedRepresentativepursuanttoSection11.TheBondsofaseriesshallbesubjecttomandatoryredemptiontotheextent,ifany,setforthintheBondPurchaseContractandasapprovedbyaDesignatedRepresentativepursuanttoSection11.(b)PurchaseofBonds.TheCityreservestherighttopurchaseanyoftheBondsofferedtoitatanytimeatapricedeemedreasonablebyaDesignatedRepresentative.(c)SelectionofBondsforRedemption.ForaslongastheBondsareheldinbook-entryonlyform,theselectionofparticularBondswithinaseriesandamaturitytoberedeemedshallbemadeinaccordancewiththeoperationalarrangementsthenineffectatDIC.IftheBondsarenolongerheldinuncertificatedform,theselectionofsuchBondstoberedeemedandthesurrenderandreissuancethereof,asapplicable,shallbemadeasprovidedinthefollowingprovisionsofthissubsection(c).IftheCityredeemsatanyonetimefewerthanalloftheBondshavingthesamematuritydatewithinaseries,theparticularBondsorportionsofBondsofsuchseriesandmaturitytoberedeemedshallbeselectedbylot(orinsuchmannerdeterminedbytheBondRegistrar)inincrementsof$5,000.InthecaseofaBondofadenominationgreaterthan$5,000,theCityandtheBondRegistrarshalltreateachBondof—14—03/18)158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 46 of 71 suchseriesasrepresentingsuchnumberofseparateBondseachofthedenominationof$5,000asisobtainedbydividingtheactualprincipalamountofsuchBondby$5,000.IntheeventthatonlyaportionoftheprincipalsumofaBondisredeemed,uponsurrenderofsuchBondatthedesignatedofficeoftheBondRegistrarthereshallbeissuedtotheRegisteredOwner,withoutchargetherefor,forthethenunredeemedbalanceoftheprincipalsumthereof,attheoptionoftheRegisteredOwner,aBondorBondsoflikeseries,maturityandinterestrateinanyofthedenominationshereinauthorized.(U)NoticeofRedemption.(1)OfficialNotice.ForsolongastheBondsareheldinuncertificatedform,noticeofredemption(whichnoticemaybeconditional)shallbegiveninaccordancewiththeoperationalarrangementsofDTCasthenineffect,andneithertheCitynortheBondRegistrarwillprovideanynoticeofredemptiontoanyBeneficialOwners.Thereafter(iftheBondsarenolongerheldinuncertificatedform),noticeofredemptionshallbegiveninthemannerhereinafterprovided.UnlesswaivedbyanyownerofBondstoberedeemed,officialnoticeofanysuchredemption(whichredemptionmaybeconditionedbytheBondRegistraronthereceiptofsufficientfundsforredemptionorotherwise)shallbegivenbytheBondRegistraronbehalfoftheCitybymailingacopyofanofficialredemptionnoticebyfirstclassmailatlea5t20daysandnotmorethan60dayspriortothedatefixedforredemptiontotheRegisteredOwneroftheBondorBondstoberedeemedattheaddressshownontheRegisteroratsuchotheraddressasisfurnishedinwritingbysuchRegisteredOwnertotheBondRegistrar.Allofficialnoticesofredemptionshallbedatedandshallstate:(A)theredemptiondate,—15—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 47 of 71 (B)theredemptionprice,(C)iffewerthanalloutstandingBondsaretoberedeemed,theidentificationbyseriesandmaturity(and,inthecaseofpartialredemption,therespectiveprincipalamounts)oftheBondstoberedeemed,(D)anyconditionstoredemption;fE)that(unlesssuchnoticeisconditional)ontheredemptiondatetheredemptionpricewillbecomedueandpayableuponeachsuchBondorportionthereofcalledforredemption,andthatinterestthereonshallceasetoaccruefromandaftersaiddate,and(F)theplacewheresuchBondsaretobesurrenderedforpaymentoftheredemptionprice,whichplaceofpaymentshallbethedesignatedofficeoftheBondRegistrar.Onorpriortoanyredemptiondate,unlessanyconditiontosuchredemptionhasnotbeensatisfiedorwaivedornoticeofsuchredemptionhasbeenrescinded,theCityshalldepositwiththeBondRegistraranamountofmoneysufficienttopaytheredemptionpriceofalltheBondsorportionsofBondswhicharetoberedeemedonthatdate.TheCityretainstherighttorescindanyredemptionnoticeandtherelatedoptionalredemptionofBondsbygivingnoticeofrescissiontotheaffectedregisteredownersatanytimeonorpriortothescheduledredemptiondate.Anynoticeofoptionalredemptionthatissorescindedshallbeofnoeffect,andtheBondsforwhichthenoticeofoptionalredemptionhasbeenrescindedshallremainoutstanding.—16—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 48 of 71 (2)EffectofNotice;BondsDue.Ifanunconditionalnoticeofredemptionhasbeengivenandnotrescinded,oriftheconditionssetforthinaconditionalnoticeofredemptionhavebeensatisfiedorwaived,theBondsorportionsofBondstoberedeemedshall,ontheredemptiondate,becomedueandpayableattheredemptionpricethereinspecified,and,iftheBondRegistrarthenholdssufficientfundstopaysuchBondsattheredemptionprice,thenfromandaftersuchdatesuchBondsorportionsofBondsshallceasetobearinterest.UponsurrenderofsuchBondsforredemptioninaccordancewithsaidnotice,suchBondsshallbepaidbytheBondRegistrarattheredemptionprice.Installmentsofinterestdueonorpriortotheredemptiondateshallbepayableashereinprovidedforpaymentofinterest.AllBondswhichhavebeenredeemedshallbecanceledbytheBondRegistrarandshallnotbereissued.(3)AdditionalNotice.Inadditiontotheforegoingnotice,furthernoticeshallbegivenbytheCityassetoutbelow,butnodefectinsaidfurthernoticenoranyfailuretogivealloranyportionofsuchfurthernoticeshallinanymannerdefeattheeffectivenessofacallforredemptionifnoticethereofisgivenasaboveprescribed.Eachfurthernoticeofredemptiongivenhereundershallcontaintheinformationrequitedaboveforanofficialnoticeofredemptionplus(A)theCUSIPnumbersofallBondsbeingredeemed;(B)thedateofissueoftheBondsasoriginallyissued;(C)therateofinterestbornebyeachBondbeingredeemed;(D)theseriesandmaturitydateofeachBondbeingredeemed;and(E)anyotherdescriptiveinformationneededtoidentifyaccuratelytheBondsbeingredeemed.Eachfurthernoticeofredemptionmaybesentatleast20daysbeforetheredemptiondatetoeachpartyentitledtoreceivenoticepursuanttoSection12andwithsuchadditionalinformationastheCityshall—17—031181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 49 of 71 deemappropriate,butsuchmailingsshallnotbeaconditionprecedenttotheredemptionofsuchBonds.(4)AmendmentofNoticeProvisions.TheforegoingnoticeprovisionsofthisSection4,includingbutnotlimitedtotheinformationtobeincludedinredemptionnoticesandthepersonsdesignatedtoreceivenotices,maybeamendedbyadditions,deletionsandchangesinordertomaintaincompliancewithdulypromulgatedregulationsandrecommendationsregardingnoticesofredemptionofmunicipalsecurities.Section5.FormofBonds.TheBondsshallbeinsubstantiallythefollowingform:UNITEDSTATESOFAMERICANO .___ _$___ _ _ _STATEOFWASHINGTONCITYOFRENTONLIMITEDTAXGENERALOBLIGATIONREFUNDINGBOND,SERIES2015[]INTERESTRATE:%MATURITYDATE:CUSIPNO.:REGISTEREDOWNER:CEDE&CO.PRINCIPALAMOUNT:TheCityofRenton,Washington(the“City”),herebyacknowledgesitselftooweandforvaluereceivedpromisestopaytotheRegisteredOwneridentifiedabove,orregisteredassigns,ontheMaturityDateidentifiedabove,thePrincipalAmountindicatedaboveandtopayinterestthereonfrom__ _ _ _ _ ____ _ _ ,2015,orthemostrecentdatetowhichinteresthasbeenpaidordulyprovidedforuntilpaymentofthisbondattheInterestRatesetforthabove,payableon_ __ _ _ _ __ _ _ _1,2015,andsemiannuallythereafteronthefirstdaysofeachsucceeding_ _ ___ _ _ _ ____and____ _ _ _ _ _ _ __.BothprincipalofandinterestonthisbondarepayableinlawfulmoneyoftheUnitedStatesofAmerica.ThefiscalagentoftheStateofWashingtonhasbeenappointedbytheCityastheauthenticatingagent,payingagentandregistrarforthebondsofthisissue(the“BondRegistrar”).Forsolongasthebondsofthisissueareheldinfullyimmobilizedform,paymentsofprincipalandinterestthereonshallbemadeasprovidedinaccordancewiththeoperationalarrangementsofTheDepositoryTrustCompany(“DTC”)referredtointheBlanketIssuerLetterofRepresentations(the“LetterofRepresentations”)fromtheCitytoDIC.—18—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 50 of 71 ThebondsofthisissueareissuedunderandinaccordancewiththeprovisionsoftheConstitutionandapplicablestatutesoftheStateofWashingtonandOrdinanceNo._ _ _ _ ____dulypassedbytheCityCouncilonApril13,2015(the“BondOrdinance”).CapitalizedtermsusedinthisbondhavethemeaningsgivensuchtermsintheBondOrdinance.ThisbondshallnotbevalidorbecomeobligatoryforanypurposeorbeentitledtoanysecurityorbenefitundertheBondOrdinanceuntiltheCertificateofAuthenticationhereonshallhavebeenmanuallysignedbyoronbehalfoftheBondRegistraroritsdulydesignatedagent.Thisbondisoneofanauthorizedissueofbondsoflikeseries,date,tenor,rateofinterestanddateofmaturity,exceptastonumberandamountintheaggregateprincipalamountof$___________andisissuedpursuanttotheBondOrdinancetoprovideaportionofthefundsnecessary(a)torefundanddefeasecertainlimitedtaxgeneralobligationbondsoftheCity,and(b)topaycostsofissuance.[PursuanttotheBondOrdinance,theCityhasalsoauthorizedtheissuanceofitsLimitedTaxGeneralObligationRefundingBonds,Series2015[]intheaggregateprincipalamountof$_________ __forthesepurposes.][Thebondsofthisissuearenotsubjecttooptionalredemption.][ThebondsofthisissuearesubjecttoredemptionasprovidedintheBondOrdinanceandtheBondPurchaseContract.]TheCityherebyirrevocablycovenantsandagreeswiththeownerofthisbondthatitwillincludeinitsannualbudgetandlevytaxesannually,withinandasapartofthetaxlevypermittedtotheCitywithoutavoteoftheelectorate,uponallthepropertysubjecttotaxationinamountssufficient,togetherwithothermoneylegallyavailabletherefor,topaytheprincipalofandinterestonthisbondasthesameshallbecomedue.Thefullfaith,creditandresourcesoftheCityareherebyirrevocablypledgedfortheannuallevyandcollectionofsuchtaxesandthepromptpaymentofsuchprincipalandinterest.[Thebondsofthisissuehave[notJbeendesignatedbytheCityas“qualifiedtax-exemptobligations”forinvestmentbyfinancialinstitutionsunderSection265(b)oftheCode.]ThepledgeoftaxleviesforpaymentofprincipalofandinterestonthebondsmaybedischargedpriortomaturityofthebondsbymakingprovisiontorthepaymentthereofonthetermsandconditionssetforthintheBondOrdinance.Itisherebycertifiedthatallacts,conditionsandthingsrequiredbytheConstitutionandstatutesoftheStateofWashingtontoexistandtohavehappened,beendoneandperformedprecedenttoandintheissuanceofthisbondexistandhavehappened,beendoneandperformedandthattheissuanceofthisbondandthebondsofthisissuedoesnotviolateanyconstitutional,statutoryorotherlimitationupontheamountofbondedindebtednessthattheCitymayincur.—19—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 51 of 71 INWITNESSWHEREOF,theCityofRenton,Washington,hascausedthisbondtobeexecutedbythemanualorfacsimilesignaturesoftheMayorandtheCityClerkandthesealoftheCityimprinted,impressedorotherwisereproducedhereonasofthisdayof__ _ _ _ __ _ _ _ _2015.[SEAL]CITYOFRENTON,WASHINGTONBy/5/manualorfacsimileMayorATTEST:/s!manualorfacsimileCityClerkTheBondRegistrar’sCertificateofAuthenticationontheBondsshallbeinsubstantiallythefollowingform:CERTIFICATEOFAUTHENTICATIONThisbondisoneofthebondsdescribedinthewithin-mentionedBondOrdinanceandisoneoftheLimitedTaxGeneralObligationRefundingBonds,Series2015[],oftheCityofRenton,Washington,dated_ _ ___ _ _ ___ _ _ _ ,2015.WASHINGTONSTATEFISCALAGENT,asBondRegistrarBy______________________________________Section6.ExecutionofBonds.TheBondsshallbeexecutedonbehalfoftheCitywiththemanualorfacsimilesignaturesoftheMayorandCityClerkoftheCityandthesealoftheCityshallbeimpressed,imprintedorotherwisereproducedthereon.OnlysuchBondsasshallbearthereonaCertificateofAuthenticationintheformhereinbeforerecited,manuallyexecutedbytheBondRegistrar,shallbevalidorobligatoryforanypurposeorentitledtothebenefitsofthisordinance.SuchCertificateofAuthentication—20—03/1&158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 52 of 71 shallbeconclusiveevidencethattheBondssoauthenticatedhavebeendulyexecuted,authenticatedanddeliveredhereunderandareentitledtothebenefitsofthisordinance.IncaseeitheroftheofficerswhoshallhaveexecutedtheBondsshallceasetobeanofficerorofficersoftheCitybetoretheBondssosignedshallhavebeenauthenticatedordeliveredbytheBondRegistrar,orissuedbytheCity,suchBondsmayneverthelessbeauthenticated,deliveredandissuedanduponsuchauthentication,deliveryandissuance,shallbeasbindingupontheCityasthoughthosewhosignedthesamehadcontinuedtobesuchofficersoftheCity.AnyBondmaybesignedandattestedonbehalfoftheCitybysuchpersonswhoatthedateoftheactualexecutionofsuchBond,aretheproperofficersoftheCity,althoughattheoriginaldateofsuchBondanysuchpersonshallnothavebeensuchofficeroftheCity.Section7.RefundingPlan;ApplicationofBondProceeds.(a)RefundingPlan.ForthepurposeofrealizingadebtservicesavingsandbenefitingthetaxpayersoftheCity,theCouncilproposestorefundanddefeasetheRefundedBondsassetforthherein.TheRefundedBondsshallincludealloraportionoftheRefundingCandidatesasdesignatedbyaDesignatedRepresentativeandsetforthintheBondPurchaseContract.ProceedsoftheBondsandotheravailablefundsoftheCityshallbedepositedwiththeEscrowAgentpursuanttotheEscrowAgreementtobeusedimmediatelyuponreceiptthereoftodefeasetheRefundedBondsasauthorizedbythe2006BondOrdinanceandtopaycostsofissuanceoftheBonds.ThenetproceedsdepositedwiththeEscrowAgentshallbeusedtodefeasetheRefundedBondsanddischargetheobligationsthereonbythepurchaseofcertainGovernment—21—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 53 of 71 Obligations(whichobligationssopurchased,arehereincalled“AcquiredObligations”),bearingsuchinterestandmaturingastoprincipalandinterestinsuchamountsandatsuchtimeswhich,togetherwithanynecessarybeginningcashbalance,willprovideforthepaymentof:(1)interestontheRefundedBondsdueandpayableonandpriortotheCallDate;and(2)theredemptionpricesoftheRefundedBondsontheCallDate.SuchAcquiredObligationsshallbepurchasedatayieldnotgreaterthantheyieldpermittedbytheCodeandregulationsrelatingtoacquiredobligationsinconnectionwithrefundingbondissues.(b)EscrowAgent/EscrowAgreement.TheCityherebyappointsU.S.BankNationalAssociation,Seattle,Washington,astheEscrowAgentfortheRefundedBonds(the“EscrowAgent”).Acashbalance,ifany,andtheAcquiredObligationsshallbedepositedirrevocablywiththeEscrowAgentinanamountsufficienttodeteasetheRefundedBonds.TheproceedsoftheBondsremainingafteracquisitionoftheAcquiredObligationsandprovisionforthenecessarycashbalanceshallbeutilizedtopayexpensesoftheacquisitionandsafekeepingoftheAcquiredObligationsandexpensesoftheissuanceoftheBonds.InordertocarryoutthepurposesofthisSection7,eachDesignatedRepresentativeisauthorizedanddirectedtoexecuteanddelivertotheEscrowAgenttheEscrowAgreement.(c)CallforRedemptionofRefundedBonds.TheCityherebycallstheRefundedBondsforredemptionontheirCallDateinaccordancewiththeprovisionsofthe2006BondOrdinanceauthorizingtheredemptionandretirementofthe2006Bondspriortotheirfixed—22—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 54 of 71 maturities.SaiddefeasanceandcallforredemptionoftheRefundedBondsshallbeirrevocableaftertheissuanceoftheBondsanddeliveryoftheAcquiredObligationstotheEscrowAgent.TheEscrowAgentisherebyauthorizedanddirectedtoprovideforthegivingofnoticesoftheredemptionoftheRefundedBondsinaccordancewiththeapplicableprovisionsofthe2006BondOrdinance.ThecostsofpublicationofsuchnoticesshallbeanexpenseoftheCity.TheEscrowAgentisherebyauthorizedanddirectedtopaytotheFinanceDirector,or,atthedirectionoftheFinanceDirector,tothepayingagentfortheRefundedBonds,sumssufficienttopay,whendue,thepaymentsspecifiedinthisSection7.AllsuchsumsshallbepaidfromthemoneyandAcquiredObligationsdepositedwiththeEscrowAgent,andtheincometherefromandproceedsthereof.AllsuchsumssopaidtosaidFinanceDirectorshallbecreditedtotheRefundingAccount.AllmoneysandAcquiredObligationsdepositedwiththeEscrowAgentandanyincometherefromshallbeheld,invested(butonlyatthedirectionoftheFinanceDirector)andappliedinaccordancewiththeprovisionsofthisordinanceandwiththelawsoftheStateofWashingtonforthebenefitoftheCityandownersoftheRefundedBonds.TheCitywilltakesuchactionsasarefoundnecessarytoseethatallnecessaryandproperfees,compensationandexpensesoftheEscrowAgentfortheRefundedBondsshallbepaidwhendue.Section8.TaxCovenants.TheCitycovenantsthatitwillnottakeorpermittobetakenonitsbehalfanyactionthatwouldadverselyaffecttheexemptionfromfederalincometaxationoftheinterestontheTax-ExemptBondsandwilltakeorrequiretobetakensuchactsasmayreasonablybewithinitsabilityandasmayfromtimetotimeberequiredunder—23—03/18)158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 55 of 71 applicablelawtocontinuetheexemptionfromfederalincometaxationoftheinterestontheTax-ExemptBonds.(a)ArbitrageCovenant.Withoutlimitingthegeneralityoftheforegoing,theCitycovenantsthatitwillnottakeanyactionorfailtotakeanyactionwithrespecttotheproceedsofthesaleoftheTax-ExemptBondsoranyotherfundsoftheCitywhichmaybedeemedtobeproceedsoftheTax-ExemptBondspursuanttoSection148oftheCodeandtheregulationspromulgatedthereunderwhich,ifsuchusehadbeenreasonablyexpectedonthedatesofdeliveryoftheTax-ExemptBondstotheinitialpurchasersthereof,wouldhavecausedtheTax-ExemptBondstobetreatedas“arbitragebonds”withinthemeaningofsuchtermasusedinSection148oftheCode.TheCitywillcomplywiththerequirementsofSection148oftheCodeandtheapplicableregulationsthereunderthroughoutthetermoftheTax-ExemptBonds.(b)PrivatePersonUseLimitationforBonds.TheCitycovenantsthatforaslongastheTax-ExemptBondsareoutstanding,itwillnotpermit:(1)Morethan10%oftheNetProceedsoftheTax-ExemptBondstobeallocatedtoanyPrivatePersonUse;and(2)Morethan10%oftheprincipalorinterestpaymentsontheTax-ExemptBondsinaBondYeartobedirectlyorindirectly:fA)securedbyanyinterestinpropertyusedortobeusedforanyPrivatePersonUseorsecuredbypaymentsinrespectofpropertyusedortobeusedforanyPrivatePersonUse,or(B)derivedfrompayments(whetherornotmadetotheCity)inrespectofproperty,orborrowedmoney,usedortobeusedforanyPrivatePersonUse.—24—03/181158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 56 of 71 TheCityfurthercovenantsthat,if:(3)MorethanfivepercentoftheNetProceedsoftheTax-ExemptBondsareallocabletoanyPrivatePersonUse;and(4)MorethanfivepercentoftheprincipalorinterestpaymentsontheTax-ExemptBondsinaBondYearare(underthetermsofthisordinanceoranyunderlyingarrangement)directlyorindirectly:(A)securedbyanyinterestinpropertyusedortobeusedforanyPrivatePersonUseorsecuredbypaymentsinrespectofpropertyusedortobeusedforanyPrivatePersonUse,or(B)derivedfrompayments(whetherornotmadetotheCity)inrespectofproperty,orborrowedmoney,usedortobeusedforanyPrivatePersonUse,then,(i)anyPrivatePersonUseofprojectsdescribedinsubsection(3)hereoforPrivatePersonUsepaymentsdescribedinsubsection(4)hereofthatisinexcessofthefivepercentlimitationsdescribedinsuchsubsections(3)or(4)willbeforaPrivatePersonUsethatisrelatedtothestateorlocalgovernmentaluseoftheprojectsrefundedbytheproceedsoftheTax-ExemptBonds,and(ii)anyPrivatePersonUsewillnotexceedtheamountofNetProceedsoftheTax-ExemptBondsallocabletothestateorlocalgovernmentaluseportionoftheprojectstowhichthePrivatePersonUseofsuchportionofprojectsrefundedbytheproceedsoftheTax-ExemptBondsrelate.TheCityfurthercovenantsthatitwillcomplywithanylimitationsontheuseoftheprojectsrefundedbytheproceedsoftheTax-ExemptBondsbyotherthanstateandlocalgovernmentalusersthatarenecessary,intheopinionofitsbondcounsel,topreservethetaxexemptionoftheinterestontheTax-ExemptBonds.—25—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 57 of 71 TheCityherebyirrevocablypledgesthattheannualtaxprovidedforhereintobeleviedforthepaymentofsuchprincipalandinterestshallbewithinandasapartofthetaxlevypermittedtocitieswithoutavoteofthepeople,andthatasufficientportionofeachannuallevytobeleviedandcollectedbytheCitypriortothefullpaymentoftheprincipalofandinterestontheBondswillbeandisherebyirrevocablysetaside,pledgedandappropriatedforthepaymentoftheprincipalofandinterestontheBonds.Thefullfaith,creditandresourcesoftheCityareherebyirrevocablypledgedfortheannuallevyandcollectionofsaidtaxesandforthepromptpaymentoftheprincipalofandinterestontheBondswhendue.Section10.Defeasance.IntheeventthattheCity,toeffectthepayment,retirementorredemptionofanyBond,setsasideintheBondFundorinanotherspecialaccount,cashornoncallableGovernmentObligations,oranycombinationofcashand/ornoncallableGovernmentObligations,inamountsandmaturitieswhich,togetherwiththeknownearnedincometherefrom,atesufficienttoredeemorpayandretiresuchBondinaccordancewithitstermsandtopaywhenduetheinterestandredemptionpremium,ifany,thereon,andsuchcashand/ornoncallableGovernmentObligationsareirrevocablysetasideandpledgedforsuchpurpose,thennofurtherpaymentsneedbemadeintotheBondFundforthepaymentoftheprincipalofandinterestonsuchBond.TheownerofaBondsoprovidedforshallceasetobeentitledtoanylien,benefitorsecurityofthisordinanceexcepttherighttoreceivepaymentofprincipal,premium,ifany,andinterestfromtheBondFundorsuchspecialaccount,andsuchBondshallbedeemedtobenotoutstandingunderthisordinance.—27—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 58 of 71 TheCityshallgivewrittennoticeofdefeasancetotheownersofallBondssoprovidedforwithin30daysofthedefeasanceandtoeachpartyentitledtoreceivenoticeinaccordancewithSection12.Section11.SaleofBonds.(a)BondSale.TheBondsshallbesoldatnegotiatedsaletotheUnderwriterpursuanttothetermsoftheBondPurchaseContract.Marketconditionsarefluctuatingand,asaresult,themostfavorablemarketconditionsmayoccuronadayotherthanaregularmeetingdateoftheCouncil.TheCouncilhasdeterminedthatitwouldbeinthebestinterestoftheCitytodelegatetotheDesignatedRepresentativesforalimitedtimetheauthoritytoapprovethefinalinterestrates,aggregateprincipalamount,principalamountsofeachmaturityoftheBonds,whethertoissuetheBondsinoneormoreseries,whethertodesignatetheBonds(ortheBondsofaseries)asTax-ExemptorTaxableBonds,whethertodesignatetheBondsofaseriesas“qualifiedtax-exemptobligations”underSection265(b)(3)oftheCode,selectionoftheRefundedBonds,andredemptionrights.EachDesignatedRepresentativeisherebyauthorizedtodeterminewhethertoissuetheBondsinoneormoreseries,whethertodesignatetheBonds(ortheBondsofaseries)asTaxExemptorTaxableBonds,whethertodesignatetheBondsofaseriesas“qualifiedtax-exemptobligations”underSection265(b)(3)oftheCode,andtoapprovethefinalinterestrates,aggregateprincipalamount,principalamountsofeachmaturityoftheBonds,selectionoftheRefundedBonds,andredemptionrightsfortheBondsinthemannerprovidedhereaftersolongas:—28—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 59 of 71 (1)theaggregateprincipalamountoftheBondsdoesnotexceed$14,000,000,(2)thefinalmaturitydatefortheBondsisnolaterthanDecember1,2028,(3)theBondsaresold(intheaggregate)atapricenotlessthan98%andnotgreaterthan120%,(4)theBondsaresoldforapricethatresultsinaminimumnetpresentvaluedebtservicesavingsovertheRefundedBondsof2.00%,(5)thetrueinterestcostfortheBonds(intheaggregate)doesnotexceed4.00%,and(6)theBondsconformtoallothertermsofthisordinance.SubjecttothetermsandconditionssetforthinthisSection11,theDesignatedRepresentativesareherebyauthorizedtoexecutetheBondPurchaseContract.ThesignatureofoneDesignatedRepresentativeshallbesufficienttobindtheCity.FollowingtheexecutionoftheBondPurchaseContract,aDesignatedRepresentativeortheFinanceDirectorshallprovideareporttotheCouncildescribingthefinaltermsoftheBondsapprovedpursuanttotheauthoritydelegatedinthissection.TheauthoritygrantedtotheDesignatedRepresentativesbythisSection11shallexpire120daysaftertheeffectivedateofthisordinance.IfaBondPurchaseContractfortheBondshasnotbeenexecutedwithin120daysaftertheeffectivedateofthisordinance,theauthorizationfortheissuanceoftheBondsshallberescinded,andtheBondsshallnotbeissuednortheirsaleapprovedunlesssuchBondsshallhavebeenre-authorizedbyordinanceoftheCouncil.Theordinancere-authorizingtheissuanceandsaleofsuchBondsmaybeintheformofanewordinancerepealingthis—29—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 60 of 71 ordinanceinwholeorinpartormaybeintheformofanamendatoryordinanceapprovingabondpurchasecontractorestablishingtermsandconditionsfortheauthoritydelegatedunderthisSection11.(b)DeliveryofBonds;Documentation.Uponthepassageandapprovalofthisordinance,theproperofficialsoftheCity,includingtheDesignatedRepresentatives,areauthorizedanddirectedtoundertakeallactionnecessaryforthepromptexecutionanddeliveryoftheBondstotheUnderwriterandfurthertoexecuteallclosingcertificatesanddocumentsrequiredtoeffecttheclosinganddeliveryoftheBondsinaccordancewiththetermsoftheBondPurchaseContract.(c)PreliminaryandFinalOfficialStatements.TheFinanceDirectorisherebyauthorizedtoratifyandtodeemfinalthepreliminaryOfficialStatementrelatingtotheBondsforthepurposesoftheRule.TheFinanceDirectorisfurtherauthorizedtoratifyandtoapproveforpurposesoftheRule,onbehalfoftheCity,thefinalOfficialStatementrelatingtotheissuanceandsaleoftheBondsandthedistributionofthefinalOfficialStatementpursuanttheretowithsuchchanges,ifany,asmaybedeemedbyhertobeappropriate.Section12.UndertakingtoProvideOngoingDisclosure.(a)Contract/Undertaking.ThissectionconstitutestheCity’swrittenundertakingforthebenefitoftheowners,includingBeneficialOwners,oftheBondsasrequiredbySectionfb)(5)oftheRule.(b)FinancialStatements/OperatingData.TheCityagreestoprovideorcausetobeprovidedtotheMunicipalSecuritiesRulemakingBoard(“MSRB”),thefollowingannualfinancial—30—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 61 of 71 informationandoperatingdataforthepriorfiscalyear(commencingin2015forthefiscalyearendedDecember31,2014):(1)Annualfinancialstatements,whichstatementsmayormaynotbeaudited,showingendingfundbalancesfortheCity’sgeneralfundpreparedinaccordancewiththeBudgetingAccountingandReportingSystemprescribedbytheWashingtonStateAuditorpursuanttoRCW43.09.200(oranysuccessorstatute)andgenerallyofthetypeincludedintheofficialstatementfortheBondsundertheheading“ComparativeStatementofRevenues,ExpendituresandChangesinFundBalances”;(2)TheassessedvaluationoftaxablepropertyintheCity;(3)Advatoremtaxesdueandpercentageoftaxescollected;(4)Propertytaxlevyrateper$1,000ofassessedvaluation;and(5)OutstandinggeneralobligationdebtoftheCity.Items(2)-(5)shallberequiredonlytotheextentthatsuchinformationisnotincludedintheannualfinancialstatements.TheinformationanddatadescribedaboveshallbeprovidedonorbeforetheendofninemonthsaftertheendoftheCity’sfiscalyear.TheCity’scurrentfiscalyearendsDecember31.TheCitymayadjustsuchfiscalyearbyprovidingwrittennoticeofthechangeoffiscalyeartotheMSRB.Inlieuofprovidingsuchannualfinancialinformationandoperatingdata,theCitymaycross-referencetootherdocumentsavailabletothepublicontheMSRB’sinternetwebsiteorfiledwiththeCommission.Ifnotprovidedaspartoftheannualfinancialinformationdiscussedabove,theCityshallprovidetheCity’sauditedannualfinancialstatementpreparedinaccordancewiththe—31—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 62 of 71 BudgetingAccountingandReportingSystemprescribedbytheWashingtonStateAuditorpursuanttoRCW43.09.200(oranysuccessorstatute)whenandifavailabletotheMSRB.(c)ListedEvents.TheCityagreestoprovideorcausetobeprovidedtotheMSRB,inatimelymannernotinexcessoftenbusinessdaysaftertheoccurrenceoftheevent,noticeoftheoccurrenceofanyofthefollowingeventswithrespecttotheBonds:•Principalandinterestpaymentdelinquencies;•Non-paymentrelateddefaults,ifmaterial;•Unscheduleddrawsondebtservicereservesreflectingfinancialdifficulties;•Unscheduleddrawsoncreditenhancementsreflectingfinancialdifficulties;•Substitutionofcreditorliquidityproviders,ortheirfailuretoperform;•Adversetaxopinions,theissuancebytheInternalRevenueServiceofproposedorfinaldeterminationsoftaxability,NoticesofProposedIssue(IRSForm5701-TEB)orothermaterialnoticesordeterminationswithrespecttothetaxstatusoftheBonds,orothermaterialeventsaffectingthetaxstatusoftheBonds;•ModificationstotherightsofBondholders,ifmaterial;•Optional,contingentorunscheduledBondcallsotherthanscheduledsinkingfundredemptionsforwhichnoticeisgivenpursuanttoExchangeActRelease34-23256,ifmaterial,andtenderoffers;•Defeasances;•Release,substitution,orsaleofpropertysecuringrepaymentoftheBonds,ifmaterial;•Ratingchanges;—32—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 63 of 71 •Bankruptcy,insolvency,receivershiporsimilareventoftheCity;•Theconsummationofamerger,consolidation,oracquisitioninvolvingtheCityorthesaleofallorsubstantiallyalloftheassetsoftheCity,otherthanintheordinarycourseofbusiness,theentryintoadefinitiveagreementtoundertakesuchanactionortheterminationofadefinitiveagreementrelatingtoanysuchactions,otherthanpursuanttoitsterms,ifmaterial;and•Appointmentofasuccessororadditionaltrusteeorthechangeofnameofatrustee,ifmaterial.(d)FormatforFilingswiththeMSRB.Allnotices,financialinformationandoperatingdatarequiredbythisundertakingtobeprovidedtotheMSRBmustbeinanelectronicformatasprescribedbytheMSRB.AlldocumentsprovidedtotheMSRBpursuanttothisundertakingmustbeaccompaniedbyidentifyinginformationasprescribedbytheMSRB.fe)NotificationUponFailuretoProvideFinancialData.TheCityagreestoprovideorcausetobeprovided,inatimelymanner,totheMSRBnoticeofitsfailuretoprovidetheannualfinancialinformationdescribedinSubsection(b)aboveonorpriortothedatesetforthinSubsection(b)above.(f)Termination/Modification.TheCity’sobligationstoprovideannualfinancialinformationandnoticesofcertainlistedeventsshallterminateuponthelegaldefeasance,priorredemptionorpaymentinfullofalloftheBonds.AnyprovisionofthissectionshallbenullandvoidiftheCity(1)obtainsanopinionofnationallyrecognizedbondcounseltotheeffectthattheportionoftheRulethatrequiresthatprovisionisinvalid,hasbeenrepealedretroactivelyor—33—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 64 of 71 otherwisedoesnotapplytotheBondsand(2)notifiestheMSRBofsuchopinionandthecancellationofthissection.TheCitymayamendthissectionwithanopinionofnationallyrecognizedbondcounselinaccordancewiththeRule.Intheeventofanyamendmentofthissection,theCityshalldescribesuchamendmentinthenextannualreport,andshallincludeanarrativeexplanationofthereasonfortheamendmentanditsimpactonthetype(orinthecaseofachangeofaccountingprinciples,onthepresentation)offinancialinformationoroperatingdatabeingpresentedbytheCity.Inaddition,iftheamendmentrelatestotheaccountingprinciplestobefollowedinpreparingfinancialstatements,(A)noticeofsuchchangeshallbegiveninthesamemannerasforalistedeventunderSubsection(c),and(B)theannualreportfortheyearinwhichthechangeismadeshallpresentacomparison(innarrativeformandalso,iffeasible,inquantitativeform)betweenthefinancialstatementsaspreparedonthebasisofthenewaccountingprinciplesandthosepreparedonthebasisoftheformeraccountingprinciples.(g)BondOwner’sRemediesUnderThisSection.TherightofanybondownerorBeneficialOwnerofBondstoenforcetheprovisionsofthissectionshallbelimitedtoarighttoobtainspecificenforcementoftheCity’sobligationsunderthissection,andanyfailurebytheCitytocomplywiththeprovisionsofthisundertakingshallnotbeaneventofdefaultwithrespecttotheBonds.(h)NoDefault.ExceptasotherwisedisclosedintheCity’sofficialstatementrelatingtotheBonds,theCityisnotandhasnotbeenindefaultintheperformanceofitsobligationsofanypriorundertakingforongoingdisclosurewithrespecttoitsobligations.—34—03118/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 65 of 71 Section13.Lost,StolenorDestroyedBonds.IncaseanyBondorBondsshallbelost,stolenordestroyed,theBondRegistrarmayexecuteanddeliveranewBondorBondsoflikeseries,date,numberandtenortotheRegisteredOwnerthereofupontheRegisteredOwner’spayingtheexpensesandchargesoftheCityandtheBondRegistrarinconnectiontherewithanduponhis/herfilingwiththeCityevidencesatisfactorytotheCitythatsuchBondwasactuallylost,stolenordestroyedandofhis/herownershipthereof,anduponfurnishingtheCityand/ortheBondRegistrarwithindemnitysatisfactorytotheCityandtheBondRegistrar.Section14.Severability;Ratification.IfanyoneormoreofthecovenantsoragreementsprovidedinthisordinancetobeperformedonthepartoftheCityshallbedeclaredbyanycourtofcompetentjurisdictiontobecontrarytolaw,thensuchcovenantorcovenants,agreementoragreements,shallbenullandvoidandshallbedeemedseparablefromtheremainingcovenantsandagreementsofthisordinanceandshallinnowayaffectthevalidityoftheotherprovisionsofthisordinanceoroftheBonds.Allactstakenpursuanttotheauthoritygrantedinthisordinancebutpriortoitseffectivedateareherebyratifiedandconfirmed.Section15.EffectiveDateofOrdinance.Thisordinanceshallgointoeffectthirty(30)daysfromthetimeoffinalpassageasprovidedbylaw.PASSEDBYTHECITYCOUNCILthis13thdayofApril,2015.JasonA.Seth,CMC,CityClerkAPPROVEDBYTHEMAYORthis13thdayofApril,2015.DenisLaw,Mayor—35—03/18/158a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 66 of 71 CERTIFICATEI,theundersigned,CityClerkoftheCityCounciloftheCityofRenton,Washington(the“City”),DOHEREBYCERTIFY:1.TheattachedcopyofOrdinanceNo.(the“Ordinance”)isafull,trueandcorrectcopyofanordinancedulypassedataregularmeetingoftheCityCounciloftheCityheldattheregularmeetingplacethereofonApril13,2015,asthatordinanceappearsontheminutebookoftheCity;andtheOrdinancewillbeinfullforceandeffectthirty(30)daysfromthetimeoffinalpassageasprovidedbylaw;and2.AquorumofthemembersoftheCityCouncilwaspresentthroughoutthemeetingandamajorityofthosememberspresentvotedinthepropermannerforthepassageoftheOrdinance.INWITNESSWHEREOF,Ihavehereuntosetmyhandthis13thdayofApril,2015.JasonA.Seth,CMC,CityClerk8a. - Refunding 2006 Limited Tax General Obligation Bonds (1st reading 4/6/2015)Page 67 of 71 t€’’-,CITYOFRENTON,WASHINGTONORDINANCENO.ANORDINANCEOFTHECITYOFRENTON,WASHINGTON,AMENDINGTHECITYOFRENTONFISCALYEARS2015/2016BIENNIALBUDGETASADOPTEDBYORDINANCENO.5737,INTHEAMOUNTOF$66,949,826.WHEREAS,onNovember3,2014,theCityCounciladoptedOrdinanceNo.5737approvingtheCityofRenton’s2015/2016BiennialBudget;andWHEREAS,fundsappropriatedin2014,butnotexpendedin2014duetocapitalprojectinterruptionsanddelaysininvoicepayments,needtobecarriedforwardandappropriatedforexpenditurein2015;andWHEREAS,minorcorrectionsandtherecognitionofgrants,contributionsandassociatedcostsandnewcostitemsnotincludedinthebudgetrequireadditionaladjustmentstothe2015/2016BiennialBudget;NOW,THEREFORE,THECITYCOUNCILOFTHECITYOFRENTON,WASHINGTON,DOESORDAINASFOLLOWS:SECTIONI.OrdinanceNo.5737establishingtheCityofRenton’s2015/2016BiennialBudgetisherebyamendedinthetotalamountof$66,949,826foranamendedtotalof$552,837,193overthebiennium.SECTIONII.The2015CarryForwardBudgetAdjustmentSummarybyFundisherebyattachedasExhibitAandthe2016AdjustedBudgetSummarybyFundisherebyattachedasExhibitB.DetailedlistsofadjustmentsareavailableforpublicreviewintheofficeoftheCityClerk,RentonCityHall.18b. - 2015 Carry Forward Budget Amendment (1st reading 4/6/2015)Page 68 of 71 ORDINANCENO.SECTIONIII.Thisordinanceshallbeeffectiveuponitspassage,approval,andfive(5)daysafterpublication.PASSEDBYTHECITYCOUNCILthis_ _ ____ _dayof__ __ __ _ __ __ _ __ __ _ __ _,2015.JasonA.Seth,CityClerkAPPROVEDBYTHEMAYORthis____ _ _ _dayof_ ____ _ _ _ ___ _ .2015.DenisLaw,MayorApprovedastoform:LawrenceJ.Warren,CityAttorneyDateofPublication:___ _ __ _ __ _ ___ _ORD:1862:3/16/15:scr28b. - 2015 Carry Forward Budget Amendment (1st reading 4/6/2015)Page 69 of 71 ORDINANCE NO. ______ Exhibit A:2015 Carry Forward Budget Adjustment Summary by Fund BEGINNING FUND BAI.ANCE REVENUES EXPENDITURES ENDING FUND BAI.ANCE Available 2015 Beg 2015 Adj 2015 2015 2015 2015 Ending Fund Reserved!Fund Fund Fund Bal Changes Fund Bal Budgeted Changes Adjusted Budgeted Changes Adjusted Balance Designated Balance 000 GENERAL 8,594,362 2,564,951 11,159,313 83,402,440 29,032 83,431,472 83,490,932 3,147,965 86,638,897 7,951,887 7,951,887 001 COMMUNIWSERVICES 2,022,533 445,170 2,467,703 12,284,640 194,280 12,478,920 12,284,640 323,716 12608,356 2,338,267 2,338,26? 003 STEEE[S 1,581,566 565,663 2,147,229 10,096,711 -10,096,711 10,096,711 167,000 10,263,711 1,980,229 1,980,229 004 COMMUNIWDEVELOPMENTBLOCKGRANT 10,197 64,754 74,951 307,462 155,446 462,908 293,358 155,446 448,804 89,055 89,055 005 MUSEUM 52,979 12,521 65,500 227761 -227,761 227,761 -227,761 65,500 65,500 009 FASIMERS MARKEr 75,604 29,346 104,950 59,400 -59,400 59,453 -59,453 104,897 (104,897)- 011 FIREANDEMERGENCYSVCHEALTh&WELLNESS 55,094 19,471 74,565 25,000 -25,000 25,000 -25,000 74,565 (74,565)= 21X GENERAL GOVERNMENT MISC DEBT SVC 1,115,674 355,397 1,471,071 6,463,588 -6,463,588 6,463,588 -6,463,588 1,471,071 -1,471,071 Total General Governmental Funds 13,508,009 4,057,273 17,565,282 112,867,002 378,758 113,245,760 112,941,443 3,794,127 116,735,570 14,075,471 (179,462)13,896,009 102 ARTERIAL STREEtS 15,689 (804)14,885 640,000 -640,000 640,000 -640,000 14,885 14,885 10$LEASED CITE PROPERTIES 368,261 (247,247)121,014 768,957 -768,957 663,403 -663,403 226,568 226,568 110 SPECIALHOTEL-MOTELTAX 135,913 83,177 219,090 265,000 -265,000 245,000 38,942 283,942 200,148 200,148 125 ONEPERCENTFORART 92,771 8,609 101,380 15,000 -15,000 102,950 -102,950 13,430 13,430 127 CABLECOMMUNICAflONS DEVELOPMENT 285,632 27,458 313090 97,674 -97,674 97,674 20,000 117,674 293,090 293,090 135 SPRINGBROOK WE1CANDS BANK 669,613 (338,691)330,922 ------330,922 330,922 303 COMMUNIWSERVICESIMPACTMI11GATION 1,110,618 127,982 1,238,600 86,500 -86,500 ---1,325,100 1,325,100 304 FIREIMPACTMITIGATION 846,165 80,323 926,488 99,000 -99,000 250,000 -250,000 775,488 775,488 305 TRANSPORIAIIONIMPACTMFOGAflON 749,185 95,463 844,648 216,500 -216,500 196,000 195,000 391,000 670,148 670,148 316 MUNICIPALFACILI11ESCIP 446,689 4,047,297 4,493,986 3,344,000 1,374,145 4,718,145 3,366,000 5,552,715 8,918,715 293,416 293,416 317 CAPITAL IMPROVEMENT 1,434,436 2,625,282 4,059,718 13,167,628 5,515,664 18,683,292 14,274,630 7,788,774 22,063,404 679,606 (650,000’29,606 326 HOUSINGOPPORTUNIW/ECODEVREVOLVING 1,010,599 76,167 1,086,766 ----75,000 75,000 1,011,766 (1,000,000)11,766 336 NEW LIBRARYDEVELOPMENT 57,000 15,272,760 15,329,760 ----15,329,760 15,329,760 -- 402 AIRPORT OPERATIONS &CIP 233,478 573,343 806,821 2,651,020 13,945,868 16,596,888 2,260,529 14,209,398 16,469,927 933,782 (172,053)761,729 403 SOLID WASTE U11LITY 1,257,755 287,851 1,545,606 16,461,726 -16,461,726 16,675,139 -16,675,139 1,332,193 (400,000)932,193 404 GOLF COURSE SYSTEM &CAPITAL 111,691 (154,602)(42,911)2,655,383 -2,655,383 2,616,052 -2,616,052 (3,580)‘ -(3,580) 405 WATER OPERATIONS &CAPITAL 11,030,050 4,842,044 15,872,094 16,272,634 -16,272,634 16,737,381 4,062,000 20,799,381 11,345,347 (2,830,093)8,515,254 406 WASTEWATER OPERATIONS &CAPITAL 7,631,115 3,274,284 10,905,399 27,126,439 1,491,423 28,617,862 26,326,798 3,900,000 30,226,798 9,296,463 (1,695,988)7,600,475 407 SURFACE WATER OPERATIONS &CAPITAL 3,113,930 4,690,291 7,804,221 11,999,966 5,244,602 17,244,568 11,746,980 9,450,000 21,196,980 3,851,809 (1,084,194)2,767,615 501 EQIJIPMENTRENTAL 3,608,097 1,702,222 5,310,319 5,764,536 14,500 5,779,036 5,507,047 1,371,395 6,878,442 4,210,913 4,210,913 502 INSURANCE 11,757,156 312,155 12,069,311 4,341,647 1,300,000 5,641,647 3,594,578 -3,594,578 14,116,380 (l3,8S2,973j1 263,407 503 INFORMATIONSERVICES 843,690 1,072,358 1,916,048 4,631,231 -4,631,231 4,641,865 965,000 5,606,865 940,414 940,414 504 FAILlflES 706,922 447,167 1,154,089 4,922,003 32,322 4,954,325 4,918,001 197,715 5,115,716 992,698 992,698 505 COMMUNICATIONS 327,742 56,227 383,969 992,431 -992,431 991,430 -991,430 384,970 384,970 512 HEALThCAREINSURANCE 6,420,432 255,073 6,675,505 12,954,736 -12,954,736 13,424,573 -13,424,573 6,205,668 (4,027,372)2,178,296 522 LEOFF1 RETIREES HEALTHCARE 7,221,225 490,638 7,711,863 1,639,699 631,735 2,271,434 1,115,744 -1,115,744 8,867,553 (223,149)8,644,404 611 FIREMENS PENSION 4,907,478 133,504 5,040,982 468,000 -462,000 210,475 -210,475 5,298,507 (5,298,507)- Total Other Funds 66,393,332 39,840,331 106,233,663 131,581,710 29,550,259 161,131,969 130,602,249 63,155,699 193,757,948 73,607,684 (31,234,329)42,373,355 OrAL ALL FUNDS 79,901,341 43,897,604 123,798,945 244,448,712 29,929,017 274,377,729 243,543,692 66,949,826 310,493,518 87,683,155 (31,413,791)56,269,364 38b. - 2015 Carry Forward Budget Amendment (1st reading 4/6/2015)Page 70 of 71 ORDINANCE NO. Exhibit 8:2016 Adjusted Budget Summary by Fund BEGINNING FUND BALANCE REVENUES I EXPENDITURES I ENDING FUND BALANCE 2016 2016 2016 2016 Available 2016 Beg 2016 Adj.Budgeted Adjusted Budgeted Adjusted Ending Fund Reserved/Fund Fund Fund Bal Changes Fund Gal Revenue Changes Revenue Expenditure Changes Expenditure Balance Designated Balance 000 GENERAL 8,505,869 (553,982)7,951,887 86,749,334 -86,749,334 86,757,519 -86,757,519 7,943,702 7,943,702 001 COMMUNITYSERVICES 2,022,533 315,734 2,338,267 12,727,828 -12,727,828 12,727,828 -12,727,828 2,338,267 2,338,267 003 STREETS 1,581,566 398,663 1,980,229 10,447,984 -10,447,984 10,447,984 -10,447,984 1,980,229 1,980,229 004 COMMUNITYDEVECOPMENTBLOCKGRANT 24,301 64,754 89,055 307,462 -307,462 295,986 -295,986 100,531 100,531 005 MUSEUM 52,979 12,521 65,500 235,281 -235,281 235,281 -235,281 65,500 65,500 009 FARMERS MARKET 75,551 29,346 104,897 59,400 -59,400 63,315 -63,315 100,982 (100,982)- 011 FIREAND EMERGENCYSVC HEALTh &WELLNESS 55,094 19,471 74,565 25,000 -25,000 25,000 -25,000 74,565 (74,565)- 21X GENERAL GOVERNMENT MISC DEBT SVC 1,115,674 355,39?1,471,071 6,248,676 -6,248,676 6,248,676 -6,248,676 1,471,071 -1,471,071 Total General Governmental Funds 13,433,567 641,904 14,075,471 116,800,965 -116,800,965 116,801,589 -116,801,589 14,074,847 (175,547)13,899,299 102 ARTERIAL STREETS 15,689 (804)14,885 650,000 -650,000 650,000 -650,000 14,885 14,885 108 LEASED CITYPROPERTIES 473,815 (247,247)226,568 768,957 -768,95?671,979 -671,979 323,546 323,546 110 SPECIAL HOTEL-MOTELTA)(155,913 44,235 200,148 265,000 -265,000 265,000 -265,000 200,148 200,148 125 ONEPERCENTFORART 4,821 8,609 13,430 15,000 -15,000 ---28,430 28,430 127 CABCECOMMUNICATIONSOEVELOPMENT 285,632 7,458 293,090 97,674 -97,674 97,674 -97,674 293,090 293,090 135 SPRINGBROOK WETLANDS BANK 669,613 (338,691)330,922 ------330,922 330,922 303 COMMUNI1YSERV1CESIMPACTMI1]GA11O#1,197,118 127,982 1,325,100 86,500 -86,500 ---1,411,600 1,411,600 304 FIREIMPACTMI11GATION 695,165 80,323 775,488 99,000 -99,000 250,000 -250,000 624,488 624,488 305 TRANSPORTA11ON IMPACTMIEGAnON 769,685 (99,537)670,148 216,500 -216,500 ---886,648 886,648 316 MUNICIPAL FACILITIESCIP 424,689 (131,273)293,416 5,103,000 -5,103,000 5,392,000 -5,392,000 4,416 4,416 317 CAPITAL IMPROVEMENT 327,434 352,172 679,606 6,582,000 -6,582,000 6,831,590 -6,831,590 430,016 (400,000’30,016 326 HOUSINGOPPORTUNIW/ECODEVREVOLVING 1,010,599 1,16?1,011,766 ------1,011,766 (1,000,000)11,766 336 NEW LIBRARYDEVELOPMENT 57,000 (57,000)--------- 402 AIRPORT OPERATIONS &CIP 623,969 309,813 933,782 3,473,293 -3,473,293 3,786,185 -3,786,185 620,890 (177,896)442,994 403 SOLID WASTE UtiLITY 1,044,342 287,851 1,332,193 16,514,320 -16,514,320 17,144,532 -17,144,532 701,980 (400,000)301,980 404 GOLF COURSE SYSTEM &CAPITAL 151,022 (154,602)(3,580)2,812,793 -2,812,793 2,303,479 -2,303,479 505,735 (306,592)199,143 405 WATER OPERATIONS &CAPITAL 10,565,303 780,044 11,345,347 16,308,371 -16,308,371 17,894,664 -17,894,664 9,759,055 (2,864,594)6,894,461 406 WASTEWATER OPERATIONS &CAPITAL 8,430,756 865,707 9,296,463 26,417,398 -26,417,398 25,885,355 -25,885,356 9,828,505 (1,710,405)8,118,100 407 SURFACE WATER OPERATIONS &CAPITAL 3,366,916 484,893 3,851,809 9,859,250 -9,859,250 10,026,642 -10,026,642 3,684,416 (1,117,253)2,567,164 501 EQUIPMENIRENTAL 3,865,586 345,327 4,210,913 5,921,100 -5,921,100 4,203,192 -4,203,192 5,928,821 5,928,821502INSURANCE12,504,225 1,612,155 14,116,380 3,991,201 -3,991,201 3,509,594 -3,509,594 14,597,988 (14,316,191)281,797 503 INFORMATION SERVICES 833,056 107,358 940,414 4,702,271 -4,702,271 4,712,338 -4,712,338 930,347 930,347 504 FACILItiES 710,924 281,774 992,698 4,930,944 -4,930,944 4,926,946 -4,926,946 996,697 996,697 505 COMMUNICATIONS 328,743 56,227 384,970 1,027,739 -1,027,739 1,026,738 -1,026,738 385,971 385,971512HEALThCAREINSURANCE5,950,595 255,073 6,205,668 14,295,824 -14,295,824 14,596,149 -14,596,149 5,905,343 (4,378,845)1,526,498522LEOFF1RETIREESHEALTHCARE7,745,180 1,122,373 8,867,553 1,662,647 609,560 2,272,207 1,167,553 -1,167,553 9,972,207 (9,972,207)-611 FIREMENSPENSION 5,165,003 133,504 5,298,507 468,000 -468,000 200,475 -200,475 5,566,032 (5,566,032)--Total Other Funds 67,372,793 6,234,891 73,607,684 126,268,782 609,560 126,878,342 125,542,086 -125,542,086 74,943,940 (42,210,014)32,733,926TOTALALLFUNDS80,806,360 6,876,795 87,683,1SS 243,069,747 609,560 243,679,307 242,343,675 -242,343,675 $9,018,787 (42,385,561)46,633,2262yeartotal79,901,341 487,518,459 30,538,577’518,057,036 485,887,367 66,949,826 552,837,193 89,018,787 (42,385,561)46,633,226 48b. - 2015 Carry Forward Budget Amendment (1st reading 4/6/2015)Page 71 of 71