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Home My WebLink About07/27/2011 - Minutes Ren�n Librar Advisor 6 rd v v c�ry oe.. s._ r � C�,. �i''C';�''C'.�,('� �a"`: �,ti.= .., Meeting Minutes Renton City Hall, Council Conference Room, 7th Floor July 27, 2011, 5:30 p.m. I. CALL TO ORDER Chair Laurie Beden called the meeting to order at 5:40 p.m. In Attendance Members: Laurie Beden, Amy Pieper, Catherine Ploue-Smith, Suzi Ure City of Renton Staff: Alex Pietsch, Peter Renner, Marty Wine, Diane Wagner KCLS Staff: Angelina Benedetti, Kay Johnson Excused Erica Richey II. APPROVAL OF AGENDA Amy Pieper made a motion to approve the agenda with the following amendments: 1) Postpone the Vice-Chair Elections until September meeting; 2)Add Renton River Days Report to agenda under Item 7. Suzi Ure seconded the approval of the agenda with amendments. All were in favor, motion carried, amended agenda approved. III. APPROVAL OF MINUTES A motion was made by Amy Pieper, seconded by Suzi Ure,to approve the June minutes as written. All were in favor, motion carried, minutes approved. IV. ORAL COMMUNICATIONS/PUBLIC COMMENTS None. BOARD COMMUNICATION None. V. CITY REPORT Terry Higashiyama gave an update regarding the Liberty Park Building Steering Committee. Twenty-four applications have been received as of today with many diverse ideas and intentions. The first Committee meeting has been set for September and the project commitment is expected to be six months at a minimum. Terry Higashiyama, Elizabeth Stewart, and Peter Renner will be the City staff contacts. All who submitted applications and are within the requirements are invited to participate. Marty Wine provided a follow-up regarding the Library Bond Issue and Interlocal Agreement and distributed copies of the final documents for discussions at a future meeting. H:\\Boards and Commissions\Library Board\2011\2011 Minutes\July 2011 City of Renton . • Library Board Minutes July 27,2011 Page 2 of 4 VI. KCLS REPORT/ANGELINA BENEDETTI Angelina Benedetti discussed the American Library Association conference she attended in June where KCLS was the recipient of the Library of the Year award. She mentioned that the Sammamish Library was named the New Landmark Library, and Angelina received the prestigious Allie Beth Martin Award for 2011, a national honor from the Public Library Association. Angelina discussed the recent bomb scare near the Library. She said there were no threats made directly to the Library, it is not believed to be connected to the Library vote, and the ie ATF is following up with the City investigation. The followingweek a Teen Voiunteer was ', assaulted in the Library. The individual was caught and jailed immediately. She said the ', Volunteer was doing okay and has already has returned to volunteering. Angelina remarked that during Renton River Days the Library was very busy. KCLS participated in the RRD parade,the quilts were on display,the annual book sale was a great success, and the door count was over 500 this year. VII. DISCUSSION/ACTION ITEMS Kay Johnson, KCLS Facilities Director; Alex Pietsch, Community& Economic Development Administrator; and Peter Renner, Facilities Director, were all in attendance to brief the Board on the progress of the new libraries. Kay Johnson said that KCLS is hoping to finalize the contract with the Consultant soon and public meetings are being scheduled with the first meeting to be held on Tuesday, September 13th at the Renton Pavilion Event Center. The Interlocal Agreement allows two Library Board Members for each location to participate with the design team. Design Team selections were made as follows: Downtown Renton: Laurie Beden and Amy Pieper. Highlands: Erica Richey and Suzi Uri. The downtown Library design team will hold the first meeting September 1, 2011, in advance of the September 13th public meeting. Kay discussed the different concepts for the public meetings such as stations showing aspects of the project and said the stations will be staffed for anyone with questions. The Consultant will be prepared to make a presentation at the public meetings discussing project updates. It is anticipated there will be two to three public meetings between September and December. Alex Pietsch talked about the Highlands Library Draft Concept Plan and about the housing redevelopment. Renton Housing Authority's Demolition and Disposal application to the U.S. H:\\Boards and Commissions\Library Board\2011\2011 Minutes\June 2011 I __— City of Renton • � Library Board Minutes � July 27,2011 Page 3 of 4 Department of Housing& Urban Development is just about ready for submittal. An anticipated opening date for the new downtown library is September 2013, and for the Highlands Library, an optimistic outlook would be sometime in late 2014. Public meeting postcards will be sent to residents in the surrounding area with information about public meetings where questions can be asked about the site, parking, desired options, exterior outlines, etc. Amy Pieper asked if there have been any formal stop action request to date for moving forward with the libraries. It was noted there have been no formal requests received; Kay mentioned KCLS is searching for a site for the Skyway Library with a target location around 68th Avenue South. Kay gave an update for the Fairwood Library talking about the agreement with the consultant. She mentioned the surveyors are being lined up, and said a public kick-off meeting is anticipated near the end of September. Kay also mentioned KCLS is looking for areas of vacancies for a future library somewhere between Kent and Renton. VIII. OLD BUSINESS Elections for the Vice-Chair position will take place at the next meeting. IX. NEW BUSINESS None. X. INFORMATION Catherine Ploue-Smith made a motion, seconded by Amy Pieper,to cancel the August meeting and move the September meeting to Thursday, September 8th. All were in favor, motion carried, August meeting cancelled and September meeting rescheduled. XI. ADJOURNMENT Amy Pieper made a motion, seconded by Suzi Ure,to adjourn the July meeting. All were in favor, motion carried,the meeting adjourned at 6:35 p.m. G�� Signature H:\\Boards and Commissions\Librery Board\2011\2011 Minutes\June 2011 City of Renton . • Library Board Minutes July 27, 2011 Page 4 of 4 N EXT RE LA II GU R MEETINGS AUGUST MEETNG CANCELLED I SEPTEMBER MEETNG — RESCHEDULED Thursday, September 8, 2011, 5:30 p.m. Renton City Hall, Council Conference Room, 7th Floor Telephone 425.430.6574 H:\\Boards and Commissions\Library Board\2011\2011 Minutes\June 2011 SIGN-1 N SHEET . • �, c�tY or_ — -__---�'�,�,�1,��c�� E;� ;�z�. � Renton Library Advisory Board DATE: J U LY 27, 2011 Do you wish to Name Address City/Zip Phone speak? PLEASE PRINT Yes No 1 � �I �tiL� � � �� b� �.�t/�� ;:�,rL cL L.IL�.r ��i,,� ;� � .� �-j�u�� ,�, �'C��_ --------- ` � , � � �� "=J �.�__ J � �c � `� �� C��. . N �� ' '��`�-�✓ U.�1`� �� v �Z �,�Ia� �N � r�� x � ��n� 11G� ��G C,S-, 0��.�-r`t��a Ci/�rc.�-c� �?__S�-Z�� !�O�.,� 1� �{,�e. �� +� �lr , �2.� �, �,� � ! �, �'�=� i � . �� t � � . _�_,: —. .. .. . , --.— . .... _...-�- - . ., .�- , � . CITY OF RENTON,WASHINGTON RESOLUTION N0. 4099 A RESOLUTION OF THE CITY OF RENTON,.WASHINGTON, AUTHORlZING THE MAYOR AND CITY CLERK TO ENTER INTO AN INTERLOCAL AGREEMENT WITH THE KING COUNTY LIBRARY SYSTEM RELATED TO CONSTRUCTION OF TWO KING COUNTY LIBRARY SYSTEM LIBRARIES IN THE CITY OF RENTON. WHEREAS, the City and the King County Library System ("KCLS") are authorized, pursuant to RCW Chapter 39.34, to enter into an interlocal government cooperative i agreement;and WHEREAS, the citizens of the City approved annexation into the KCLS on February 9, 2010; and WHEREAS, the City and KCLS have discussed and agreed that the City will provide land � and funding for, and KCLS should maintain and operate, two new library facilities in the City of � Renton for the benefit of the citizens of Renton and the surrounding communities (collectivel.y referred t�herein as the "Project");and WHEREAS, the City and KCLS contemplate that the Project will include one new library designed, constructed, staffed and maintained in downtown Renton and another designed, constructed, staffed and maintained in the Sunset area of Renton; and . WHEREAS, the Project is contingent on the City acquiring title to the properties upon which the libraries are to be constructed and associated rights-of-way, easements, and or covenants as may be required; and WHEREAS, the Project also requires that KCLS manage and oversee the design and construction of both libraries and also operate and maintain the libraries; 1 .. .. . .............. -- --. .....- -----......_,_:, ....... .. . . , - _ � � RESOLUTION N0. 4099 � � ; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES RESOLVE AS FOLLOWS: ' SECTION I. The above recitals are found to be true and correct in all respects. SECTION II. The Mayor and City Clerk are hereby authorized to enter into an interlocal agreement with KCLS related to construction of two KCLS libraries in the City of Renton. � PASSED BYTHE CITY COUNCILthis 20th day of June , 2011. 1�,��,Y�i'�Zt-ti�. (.UG��Cr✓`-' Bonnie L Walton, City Clerk APPROVED BY THE MAYOR this 20th day of June , 2011. ; i � � '�`�/ � Denis Law, Mayor Approvedastoform: :.�° �� t�� "Y�,� - , 'f. '�. .:�'��:.:� � •z ��y��,t�� _ � `�i ..;., � l'' ; ` L�h � `!, � 'v. Lawrence J.Warren, City Attorney ; �i'•. ��' :'<`� � - .- :;�; �- ; . _� ., .. ..:,�� RES.1502:4/27/11:scr �' ,.'�',E�r�'�``, � ','K�ftp<13st��4�`'�. , � ' i � . � CITY OF RENTON,WASHINGTON � LIMITED TAX GENERAL OBLIGATION BONDS,SERIES 2011A ORDINANCE NO. 5613 , i AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, �PR�VIDING FOR THE ISSUANCE OF LIMITED. 7AX GENERAL I OBLIGATION BONDS OF THE CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $18,OOO,U00 TO FINANCE ALL OR A PORTION OF THE'COSTS OF ACQUIRING LAND FOR AND CONSTRUCTING, IMPROVING AND EQUIPPfNG TWO NEW PUBLIC LIBRARY _ FACILITIES AND REPAIRING, RENOVATING AND IMPROVING . EXIST{NG LIBRARY FACILITIES; PROVIDING THE FORM AND • TERMS OF THE BONDS; AND DELEGATiNG THE AUTHORITY TO APPROVE THE FINAL TERMS OF THE BONDS. PASSED: 1UNE 20, 2011 PREPARED BY: ' PaciFlca Law GRouP LLP Seattle,Washington . � I � . . . -- --- ... _ . . . ._.. . ..... ........ ._._....:...... ..,. .. � ' � CiTY t3F RENTON ORDINANCE NO. 5613 I . TABCE OF C(3NTENTS* Pa�e Section 1. Definitions and Interpretatian of Terms.................................................................2 I Section 2. A�thorization of the Projects..................................................................................7. Section 3. Authorization of Bonds and Bond petails...............................................................7 Section�E. Registration, Exchange and Payrnents....................................................................8 Section 5. Redemption Prior to Maturity and Purchase of Bands.........................................13 Section6. Form of Bonds........................................................................................................17 Section7. Executian af Bonds................................................................................................19 i Section 8. Application of Bond Proceeds..............................................................................20 . .....................�..................................................21 Sectian 9. Tax Covenants................................ Section 10. Bond Fund and Pravision forTax Levy Payments .................................................23 : Section11, Defeasance.............................................................................................................24 Section12. Sale of Bonds..............................................:.......................................:...................25 Sectian13. Bond Insurance......................................................................................................27 Section 14. Undertaking ta Fravide Ongaing Disclasure.........................................................27 : Section 15. Lost,Stolen or Destroyed Bands...........................................................................32 : I 5ectian 16. Severabifity; Ratification.......................................................................................32 � Section 17. Effective Date of Ordinance..........................•---...............,....................................33 *This Table af Contents is provided for convenience onfy and is not a part af this ardinance. I -I^ DB/21/11 . CITY OF RENTON,WASHINGTON ; ORDINANCE NO. 5613 - AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, : PROVIDING FOR THE ISSUAIVCE OF LIMITED 7AX GENERAL OBLIGATION BONDS OF THE CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $18,000,000 TO FINANCE ALL OR A PORTION OF ' THE COSTS OF ACQUIRING LAND FOR AND CONSTRUCTING, IMPROVING AND EQUfPPING TWO NEW PUBLIC LIBRARY FACILITIES AND REPAIRING, RENOVATING AND IMPROVING - EXISTING LIBRARY FACILITIES; PROVIDING 7HE FORM AND TERMS OF THE BONDS; AND DELEGATING THE AUTHORITY TO ' APPROVE THE FINAL TERMS OF THE BONDS. � WHEREAS, pursuant to Ordinance No. 5479 of the City Council (the "Council") of the City of Renton, Washington (the "City"), adopted on August 3, 2009, the City stated its intent to join the King County Library System ("KCLS") and called for an election to be held within the City on February 9, 2010; and WHEREAS, the number and proportion of the qualified electors required by law for the adoption thereof voted in favor of a proposition authorizing the annexation of the City into the KCLS; and WHEREAS, pursuant to the terms of an Interlocal Agreement between the City and � KCLS, the City has agreed to acquire land, finance costs related to the construction of two public library facilities, and lease the land to KCLS, and KCLS has agreed to own, operate and maintain the public library facilities under the terms of a long-term lease agreement; and � WHEREAS, the City desires to repair, renovate and improve existing library facilities for other public uses; and � . WHEREAS, it is hereby found to be in the best interest of the City to provide financing for alf or a portion of the costs of acquiring land for and constructing, improving and equipping ...... . .. .. ....... . . . - .._ . .. . . . ... ... ... ._.. . i ORDINANCE NO. 5613 two new public library facilities and to use the remaining funds, if available, for repairing, � i renovating and improving existing libraries for other public uses (the "Projects"); and WHEREAS, the City is authorized by chapters 35A.4d and 39.46 RCW to borrow money � , and issue general obligation bonds to finance the costs of the Projects;and WHEREAS,the City now desires to construct the Projects and issue and sell such Limited Tax General Obligation Bonds by negotiated sale to Seattle-Northwest Securities Corporation, Seattle, Washington in the principal amount of not to exceed $18,000,000 (the "Bonds") to finance costs of the Projects; . NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DOES ORDAIN AS FOLLOWS: � ; Section 1. Definitions and Interpretation of Terms. � (a) Definitions. As used in this ordinance, the following words shall have the following meanings: Beneficial Owner means any person that has or shares the power, directly or indirectly to make investment decisions concerning ownership of any Bonds (including persons holding � 8onds through nominees, depositories or other intermediaries). Bond Fund means the "City of Renton Limited Tax General Obligation Bond Debt Service Fund, 2011" authorized to be created pursuant to Section 10 of this ordinance. Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Insurer insuring the payment when due of the principal of and interest on the Bonds as provided therein. -2- 06/21l11 � . ----....._.. . ----..._... .. . -- �-�---�... . .... , .... - - ------. ................ . . � , -- , ORDINANCE NO. 5613 � Bond Purchase Contract means the contract for the purchase of the Bonds between the Underwriter and City, executed pursuant to Section 12 of this ordinance. Bond Register means the registration books showing the name, address and tax identification number of each Registered Owner of the Bonds, maintained pursuant to Section 149(a)of the Code. � Bond Registrar means, initially, the fiscal agency of the State of Washington, for the � purposes of registering and authenticating the Bonds, maintaining the Bond Register, effecting transfer of ownership of the Bonds and paying interest on and principal of the Bonds. Bond Year means each one-year period that ends on the date selected by the City. The first and (ast Bond Years may be short periods. If no day is selected by the City before the � earlier of the final maturity date of the �Bonds or the date that is five years after the date of issuance of the Bonds, Bond Years end on each anniversary of the date of issue and on the final maturity date of the Bonds. � � .. ; Bonds mean the City of Renton, Washington Limited Tax General Obligation Bonds, Series 2011A issued pursuant to this ordinance. City means the City of Renton,Washington, a municipal corporation du[y organized and existing by virtue of the laws of the State of Washington. . , Code means the Internal Revenue Code of 1986, as amended, and shall include all applicable regulations and rulings relating thereto. Commission means the Securities and Exchange Commission. . . Council means the City Council a5 the general legislative authority of the City, as the same shall be duly and regularly constituted from time to time. -3- - osnv�i ORDINANCE NO. 5613 Designated Representative means the Mayor, the Chief Administrative Officer, or the Finance Director of the City, or any successor to the functions of such office. DTC means The Depository Trust Company, New York, New York, a limited purpose trust company organized under the laws of the State of New York, as depository for the Bonds pursuant to Section 4 of this ordinance. Federal Tax Certificate means the certificate executed by the Designated Representative setting forth the requirements of the Code for maintaining the tax exemption of interest on the bonds. Finance Directorshall mean the City's Finance and Information Services Administrator or the successor to such officer. ; '. - Government Obligations mean those obligations now or hereafter defined as such in ' chapter 39.53 RCW. Insurer means the municipal bond insurance company, if any, selected and designated by the Designated Representative, pursuant to Section 13 of this ordinance, or any successor 'thereto or assignee thereof, as issuer of a Bond Insurance Policy for all or a portion of the Bonds_ Letter of Representations means the blanket issuer letter of representations from the City to DTC. MSRB means the Municipal Securities Rulemaking Board or any successors to its functions. -4- osrzu�� ;_.. .... . , � � . .. . ........ . . ORDINANCE NO.5613 Net Proceeds, when used with reference to the Bonds, mean the principal amount of � ; the Bonds, plus accrued interest and original issue premium, if any, and less original issue discount, if any. . . Private Person means any natural person engaged in a trade or business or.any trust, estate, partnership, association, company or corporation. Private Person Use means the use of property in a trade or business by a Private Person if such use is other than as a member of the general public. Private Person Use includes ownership of the property by the Private Person as well as other arrangements that transfer to the Private Person the actual or beneficial use of the property(such as a lease, management or incentive payment contract or other special arrangement) in such a manner as to set the Private Person apart from the general public. Use of property as a member of the general public includes attendance by the Private Person at municipal meetings or business rental of property to the Private Person on a day-to-day basis if the rental paid by such Private Person is � the same as the rental paid by any Private Person who desires to rent the property. Use of property by nonprofit community groups or community recreational groups is not treated as ; Private Person Use if such use is incidental to the governmental uses of property, the property is made available for such use by alf such community groups on an equal basis and such . community groups are charged only a de minimis fee to cover custodial expenses. Project Fund means the "Library C�nstruction Fund" as described in Section 8 of this ordinance. Projects mean the capital projects described in Section 2 of this ordinance. -5- osmn, .......... . ..:.... .......... ..... ... . . - - -....._�. .. .... _... ORDINANCE NO. 5613 Registered Owner means the person named as the registered owner of a Bond in the ' Bond Register. For so long as the Bonds are held in book-entry only form, DTC shall be deemed to be the sole Registered Owner. Rule means the Commission's Rule 15c2-12 under the Securities Exchange Act of 1934; as the same may be amended from time to time. Underwriter means Seattle-Northwest Securities Corporation,Seattle,Washington. (b) lnterpretation. In this ordinance, unless the context otherwise requires: (1) The terms "hereby," "hereof," "hereto," "herein," "hereunder" and any similar terms, as used in this ordinance, refer to this ordinance as a whole and not to any ' particular article, section, subdivision or clause hereof, and the term "hereafter" shall mean � after, and the term "heretofore" shall mean before,the date of this ordinance; . (2) Words of the masculine gender shal! mean and include correlative words of the feminine and neutral genders and words importing the singular number shall mean and include the plural number and vice versa; . (3) Words importing persons shall include firms, associations, partnerships (including limited partnerships), trusts, corporations and other legal entities, including public . bodies, as well as natural persons; � (4) Any headings preceding the text of the several articles and sections of this ordinance, and any table of contents or marginal notes appended ta copies hereof, shall be solely for convenience of reference and shall not constitute a part of this ordinance, nor shall they affect its meaning,construction,or effect; and -6- osiztn t .... .....:......:.. :......: . -------. ...... ..._ .. .. . . . ORDINANCE NO. 5513 � . (5) Ali references herein to "articles," "sections" and other subdivisions or clauses are to the corresponding articles, sections,subdivisions or clauses hereof. Section 2. Authorization of the Projects. The Bonds are being issued to finance all or a portion of the costs of acquiring land for and constructing, improving and equipping two new public library facilities �and to use the remaining funds, if available, for repairing, renovating and improving existing libraries for other public uses (together,the"Projects"). Any remaining costs of the Projects shall be paid from other City funds legally ava.ilable for such purposes. If the Council shall determine that it has become impractical to undertake or complete any portion of the Projects by reason of changed conditions, the City shall not be required to undertake or complete such portions of the Project. If the Projects have been completed or duly provided for, or found to be impractical, the Council may appfy the Bond proceeds or any portion thereof to the redemption of the Bonds ar to other capital purposes as the Council, in its discretion,shall determine. , i Section 3. Authorization of Bonds and Bond Details. For the purpose of paying the ; costs of the Projects and paying costs of issuance of the Bonds, including, but not limited to, the payment of the premium cost for a Bond Insurance Policy, if any, the City shall issue and sell its limited tax general obligation bonds in the aggregate principal amount of not to exceed $1$,00�,000(the "Bonds"). The Bonds shall be general o6ligations of the City, shall be designated "City of Renton, ' Washington, Limited Tax General Obligation Bonds, Series 2011A"; shall be dated as of their clate of delivery; shall be fully registered as to both principal and interest; shall be in the -7- os�zv» ORDINANCE N0. 5613 denomination of $5,000 each, or any integral multiple thereof, provided that no Bond shall represent more than one maturity; shall be numbered separately in such manner and with any additional designation as the Bond Registrar deems necessary for purposes of identification; and shall bear interest from their date payable on the first days of each June and December, commencing on December 1, 2011, at rates set forth in the Bond Purchase Contract; and shall mature on the dates and in the principal amounts set forth in the Bond Purchase Contract and as approved by the Designated Representative pursuant to Section 12. The Bonds of any of the maturities may be combined and issued as term bonds, subject to mandatory redemption as provided in the Bond Purchase Contract. Section 4. Re�istration, Exchan�e and Payments. (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the system ' of registration approved by the Washington State Finance Committee from time to time . through the appointment of state fiscal agencies. The City shall cause a bond register to be , maintained by the Bond Registrar. So long as any Bonds remain outstanding, the Bond Registrar shall make all necessary provisions to permit the exchange or registration or transfer of Bonds at its principal corporate trust office. The Bond Registrar may be removed at any time ' i at the option of the Finance Director upon prior notice to the Bond Registrar and a succes�or � � Bond Registrar appointed by the Finance Director. No resignation or removal of the Bond Registrar shall be effective until a successor shall have been appointed and until the successor Bond Registrar shall have accepted the duties of the Bond Registrar hereunder. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of such Bonds and this ordinance and to carry out -8- osizv>> . .....:... . .:... ....::..:.:..� , .......... ORDINANCE NO. 5613 � all of the Bond Registrar's powers and duties under this ordinance. The Bond Registrar shall be responsibfe for its representations contained in the Certificate of Authentication of the Bonds. (b) Registered Ownership. The City and the Bond Registrar, each in its discretion, may deem and treat the Registered Owner of each Bond as the absolute owner thereof for all purposes (except as provided in Section 14 of this ordinance), and neither the City nor the Bond Registrar shall be affecte.d by any notice to the contrary. Payment of any such Bond shall. be made only as described in Section 4(h) hereof, but such Bond may be transferred as herein provided. All such payments made as described in Section 4{h) shall be valid and shall satisfy and discharge the liability of the City upon such Bond to the extent of the amount or amounts , i so paid. � (c) DTC Acceptance/Letters of Representations. The Bonds initially shall be held in � fully immobilized form by DTC acting as depository. To induce DTC to accept the Bonds as eligible for deposit at DTC,the City has executed and delivered to DTC a Blanket Issuer Letter of ; Representations. Neither the City nor the Bond Registrar will have any responsibility or . ;. obligation to DTC participants or the persons for whom they act as nominees (or any successor , depository) with respect to the Bonds in respect of the accuracy of any records maintained by : DTC (or any successor depasitory) or any DTC participant, the payment by DTC (or any successor depository) or any DTC participant of any amount in respect of the principaf of or � ; interest on Bonds, any notice which is permitted or required to be given to Registered Owners � under this ordinance (except such notices as shall be required to be given by the City to the Bond Registrar or to DTC (or any successor depository)), or any consent given or other action taken by DTC (or any successor depository) as the Registered Owner. For so long as any Bonds � -9- � osnv» , .._... .... . .. ..... . , ,.. . , . __.. ___... I ORDINANCE N0.5613 are held in fully;immobilized form hereunder, DTC or its successor depository shall be deemed i to be the Registered Owner for all purposes hereunder, and all references herein to the Registered Owners shall mean DTC (or any successor depository) or its nominee and shall not mean the owners of any beneficial interest in such Bonds. � If any Bond shall be duly presented for payment and funds have not been duly provided by the City on such applicable date, then interest shall continue to accrue thereafter on the unpaid principal thereof at the rate stated on such Bond until it is paid. ± (d) Use of Depository. (1) The Bonds shall be registered initially in the name of "Cede& Co.", as nominee of DTC, with one Bond maturing on each of the maturity dates for the Bonds in a ; denomination corresponding to the total principal therein designated to mature on such date. . � Registered ownership of such immobilized Bonds, or any portions thereof, may not thereafter be transferred except (A)to any successor of DTC or its nominee, provided that any such successor shalf be qualified under any applicable laws to provide the service proposed to be, , provided by it; (B)to any substitute depository appointed by the Finance Director pursuant to subsection (2) befow or such substitute depository's successor; or(C)to any person as provided in subsection(4) below. (2) Upon the resignation of DTC or its successor (or any substitute depository or its successor) from its functions as depository or a determination by the Finance Director to discontinue the system of book entry transfers through DTC or its successor (or any � substitute depository or its successor},the Finance Director may hereafter appoint a substitute -10- osrz,n� • , _... .. : ... � . i ORDINANCE NO. 5613 depository. Any such substitute depository shall be qualified under any applicable laws to i ; provide the services proposed to be provided by it. (3) In the case of any transfer pursuant to clause (A) or (B) of subsection (1) above, the Bond Registrar shall, upon receipt of all outstanding Bonds,together with a written request on behalf of the Finance Director, issue.a single new Bond for each maturity then outstanding, registered in the name of such successor or such subst'itute depository, or their I nominees,as the case may be, all as specified in such written reguest of the Finance Director. (4) In the event that (A) DTC or its successor (or substitute depository or its successor) resigns from its functions as depository, and no substitute depository can be obtained, or (B)the Finance Director determines that it is in the best interest of the beneficial • owners of the Bonds that such owners be able to obtain such bonds in the form of Bond certificates, the ownership of such Bonds may then be transferred to any person or entity as herein provided, and shall no longer be held in fully-immobilized form. The Finance Director shall deliver a written request to the Bond Registrar,together with a supply of definitive Bonds, to issue Bonds as herein provided in any authorized denomination. Upon receipt by the Bond Registrar of all then outstanding Bonds together with a written request on behalf of the Finance Director to the Bond Registrar, new Bonds shall be issued in the appropriate denominations and registered in the names of such persons as are requested in such written request. � (e) Registration of Transfer of Ownership or Exchange; Change in Denominations. The transfer of any Bond may be registered and Bonds may be exchanged, but no transfer of any such Bond shall be valid unless it is surrendered to the Bond Registrar with the assignment -11- osntn� i ORDlNANCE N0.5613 I form appearing on such Bond duly executed by the Registered Owner or such Registered , Owner's duly authorized agent in a manner satisfactory to the Bond Registrar. Upon such surrender, the Bond Registrar shall cancel the surrendered Bond and shall authenticate and deliver, without charge to the Registered Owner or transferee therefor, a new Bond (or Bonds at the option of the new Registered Owner) of the same date, maturity and interest rate and for the same aggregate principal amount in any authorized denomination, naming as Registered Owner the person or persons (isted as the assignee on the assignment form appearing on the surrendered Bond, in exchange for such surrendered and cancelled Bond. Any Bond may be surrendered to the Bond Registrar and exchanged, without charge, for an equal aggregate principal amount of Bonds of the same date, maturity and interest rate, in any � authorized denomination. The Bond Registrar shall not be obligated to register the transfer or to exchange any Bond duri�g the 15 days preceding any interest payment or principal payment date any such Bond is to be redeemed. (f) Bond Registrar's Ownership of Bonds. The Bond Registrar may become the Registered Owner of any Bond with the same rights it would have if it were not the Bond . Registrar, and to the extent permitted by law, may act as depository for and permit any of its ' officers or directors to act as a member of, or in any other capacity with respect to, any , committee formed to protect the right of the Registered Owners of Bonds. � 'I (g) Registration Covenant. The City covenants that, until all Bonds have been ' surrendered and canceled, it will maintain a system for recording the ownership of each Bond : that complies with the provisions of Section 149 ofthe Code. -12- osizv,t � � - - ORDINANCE NO. 5613 i (h) Place and Medium of Payment. Both principal of and interest on the Bands shall i � be payable in fawful money of the United States of America. Interest on the Bonds shall be � calculated on the basis of a year of 360 days and twelve 30-day months. For so long as al! . Bonds are in fulfy immobilized form, payments of principal and interest thereon shall be made as provided in accordance with the operational arrangements of.DTC referred�to in the Letter of Representations. In the event that the Bonds are no longer in fully immobilized form, interest on the Bonds shall be paid by check or draft mailed to the Registered Owners at the addresses for such Registered Owners appearing on the Bond Register on the fifteenth day of the month preceding the interest payment date, or upon the written request of a Registered Owner of mare than $1,000,000 of Bonds (received by the Bond Registrar at least 15 days prior to the applicable payment date), such payment shall be made by the Bond Registrar by wire transfer to the account within the United States designated by the Registered Owner. Principal of the Bonds shall be payab(e upon presentation and surrender of such Bonds by the Registered Owners at the principal office of the Bond Registrar. Section 5. Redemption Prior to Maturity and Purchase of Bonds. � (a) Mandatory Redemption of Term Bonds and Optional Redemption, if any. The Bonds shall be subject to optional redemption on the dates, at the prices and under the terms set forth in the Bond Purchase Contract approved by the Designated Representative pursuant to Section 12 of this ordinance. The Bonds shall be subject to mandatory redemption to the extent, if any, set forth in the Bond Purchase Contract and as approved by the Designated Representative pursuant to Sectian 12 of this ordinance. � -13- ' oeizv„ � � _ . . . . . , . _.. � . ORDINANCE NO.5613 (b) Purchase of Bonds. The-City reserves the right to purchase any of the Bonds � � . � ofFered to it at anytime at a price deemed reasonable bythe Designated Representative. (c) Selection of Bonds for Redemption. For as long as the Bonds are held in book-entry onfy form, the selection of particular Bonds within a maturity to be redeemed shall be made in accordance with the operational arrangements then in effect at DTC. If the Bonds are no longer held in uncertificated form, the selection of such Bonds to be redeemed and the surrender and reissuance thereof, as applicable,�shall be made as provided in the following provisions of this subsection (c). If the City redeems at any one time fewer than all of the � Bonds having the same maturity date, the particular Bonds or portions of Bonds of such maturity to be redeemed shall be selected by lot (or in such manner determined by the Bond � Registrar) in increments of $5,000. In the case of a Bond of a denomination greater than $5,000, the City and the Bond Registrar shall treat each Bond as representing such number of separate Bonds each of the denomination, of $5,000 as is obtained by dividing the actual principal amount of such Bond by$5,000. In the event that only a portion of the principaf sum of a Bond is redeemed, upon surrender of such Bond at the principal office of the Bond � . Registrar there shall be issued to the Registered Owner, without charge therefor, for the then � unredeemed balance of the principal sum thereof, at the option of the Registered Owner, a Bond or Bonds of like maturity and interest rate in any of the denominations herein authorized. � (d) Notice of Redemption. (1) Official Notice. For so long as the Bonds are held in uncertificated form, notice of redemption (which notice may be conditional) shall be given in accordance with the -14- osiz,n� , . . .. . ... . ._ _ . . , ............: .. , ORDINANCE NO. 5613 � operational arrangements of DTC as then in efFect, and neither the City nor the Bond Registrar wili provide any notice of redemption to any Beneficial Owners. Thereafter (if the Bonds are I no longer held in uncertificated form), notice of redemption shall be given in the manner � hereinafter provided. Unless waived by any owner of Bonds to be redeemed, official notice of any such redemption (which redemption may be conditioned by the Bond Registrar on the � receipt of sufficient funds for redemption or otherwise)shall be given by the Bond Registrar on behalf of the City by rnailing a copy of an official redemption notice by first class mail at least 20 days and not more than 60 days prior to the date fixed for redemption to the Registered Owner of the Bond or Bonds to be redeemed at the address shown on the Register or at such other address as is furnished in writing by such Registered Owner to the Sond Registrar. . ede tion shall be dated and shall state: All official notices of r mp (Aj the redemption date, (B) the redemption price, (C) if fewer than all outstanding Bonds are to be redeemed, the identification by maturity (and, in the case of partial redemption, the respective principal amounts)of the Bonds to be redeemed, (D) that on the redemption date the redemption price will become . due and payable upon each such Bond or portion thereof called for redemption, and that interest thereon shall cease to accrue from and after said date, and (E) the place where such Bonds are to be surrendered for payment of the redemption price, which place of payment shall be the principal office of the Bond Registrar. -15- osmn� ` � ......::..: .: , , _ �. . ..:. , _ - - � , ORDIIVANCE NO. 5613 On or prior to any redemption date, the City shall deposit with the Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds . which are to be redeemed on that date. (2) �Effect of Notice: Bonds Due. If an unconditional notice af redemption has been given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall. be paid by the Bond Registrar at the redemption price. Installments of interest due on or prior to the redemption date shall be payable as herein provided for payment of interest. All Bonds which have been redeemed shall be canceled by the Bond Registrar and shall not be reissued. (3) Additional Notice. In addition to the foregoing notice, further notice shall be given by the City as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of . a call for redemption if notice thereof is given as above prescribed. Each further notice of redemption given hereunder shall contain the information required above for an official notice ' of redemption plus (A)the CUSIP numbers of all Bonds being redeemed; (B)the date of issue of the Bonds as originally issued; (C)the rate of interest borne by each Bond being redeemed; (D)the maturity date of each Bond being redeemed; and (E} any other descriptive information needed to identify accurately the Bonds being redeemed. Each further notice of redemption may be sent at least 20 days before the redemption date to each party entitled to receive notice pursuant to Section 14 and to the Underwriter and with such additional information as -16- os�zv,t QR4lNANCE NQ.563.3 the City shall deem appropriate, but such maiiings shaif nat be a condition precedent to the redemption of such Bonds. � (4) Amendment of Notice Provisions. The foregoing notice pravisions of this Section 5, inc(uding but not lirnited ta the information to be included in redemption nt�tices and the persons designated to receive notices, may be amended by additions, deletions and changes in order to maintain compliance with duly pramulgated regulations and recommendatians regarding notices of redemption of municipal securities. Section 6. Form of Bonds. The Bonds shall be in substantially the following form: � [STATEMENT OF 1NSURANCE] UNtTED STAiES OF AMERiCA � NO. � ; � STATE OF WASHiNGT�N ClTY OF RENTON L(MlTED TAX GENERAL dBL1GATI�N BOND,SERiES 2021A � j i ' 1NTEREST RATE: % MATt1RiTY DAiE: CUSiP NO.: REGISTERED OWNER: CEDE&C0. j PRiNCiPALAMt�UNT: ; The City of Renton, Washington (the "City"}, hereby acknowledges itself ta owe and for value received promises to pay to the ftegistered Owner identified above or re istered assi ns , � � , on the Maturity Date identified above the Princi a( Amount indicate , d above and t p o a pY interest thereon from , Zp11, ar the mosfi recent date ta which interest has been paid or duly provided for until payment of this bond at the Interest Rate set forth above, � i payabfe on [�ecember 1, 2011, and semiannualEy thereafter on the first days of each I succeeding �une and aecember. Bath principal Qf and interest an this band ar� payabSe in lawfu( money af the Unitett States of America. The fiscal agency of the State of Washington I has been appointett by the City as the autF�enticating agent, paying agent and registrar for the bonds�of this issue (the "Band Registrar"}. For so long as the 6ands of this issue are hefd in � ful(y immobiiized farrn, payments af principal and interest thereon shall be made as provided i � , I � -17- asrzv„ � � .. _.._ . � , _ . ---.. ...-----..�__....... .._ ...__... .... _ . --- ORDINANCE N�. 5623 in accordance with the operatianal arrangements of The Qepository Trust Company ("DTC'j ! referred to in tf►e Blanket Issuer Letter of Representatians (the "Letter of Representations"J ! from the City to D7C. � The bonds of this issue are issued under and in accardance with the provisions of the Constitution and appiicab(e statutes of the State of Washington and iJrdinance No. du(y passed by the City Caunci( nn June 20, 2011 (the "Bond Ordinance"}. Capitalized terms � ; used in this bond have the meanings given such terms in the Bond Ordinance. � This bond shali not fae va(id ar become ab(igatory for any purpose or be entit(ed ta any . security or benefit under the Band Ordinance until the Certificate of Aufihenticatian hereon shatl have been manual(y signed by or on behaif of the Bond Registrar ar its duiy designated agent. This bond is one afi a.n aut`hvrized issue of bor�ds of like date,tenor, rate of�interest and ' date af maturity, except as to number and amaunt in the aggregate principal amount of $ and is issued pursuant to the Band Orciinance ta provide funds (a)ta pay all ar a partion af the cost of acquiring land for and constructing, improving and equipping two new i publie library facilities, and repairing, renavating and improving existing libraries far other public uses and {b)to pay costs of issuance. ' • The bonds af this issue are subject ta redemptian as provided in the Sand Ordinance ancf the Bond Purchase Contract. The City hereby irrevacably covenants and agrees with the owner af this bond that it wif! include in its annua! budget and levy taxes annual(y, within and as a part af the tax levy : perr�itted to the City withaut a vate of the ekectorate,upon all the property subject to taxation � in amounts sufficient,together with other mor�ey legally available therefor,to pay the principal of a«d interest on this bond as the same shal! became due. 7he ful(faith,credit and resources of the City are hereby irrevocably pledged far the anrival levy and collection of such taxes and • the prompt payment of such principa!and.interest, The bonds of this issue have not been designated by the City as "qualified tax-exempt � obligations"for investment by financial institutic�ns under Section 265(bj of the Code. The pledge of tax levies far payment of principai of and interest on the bonds may be , discharged prior tn maturity of the bonds by making provision for the payment thereof on the terms and conditions set forth in the Bond Ordinance. {t is hereby certified that ali acts,conditians and things required by the Constitution and . statutes of the State of Washington to exist, tv have happened, been done and performed precedent ta and in the issuance of this bond have happened, been done and perfarmed and , � that the issuance of this band and the bands of this issue does not viotate any constitutianal, statutory or other(imitation upon the amaunt of bonded indebtedness that the City may incur. -1$- osrzvt, � ORDINANCE NO. 5613 . IN WITNESS WHEREOF, the City of Renton, Washington has caused this bond to be ' executed by the manual or facsimile signatures of the Mayor and the City Clerk and the seal of the City imprinted, impressed or otherwise reproduced hereon as of this day of , 2011. [SEAL) � CITY OF RENTON,WASHINGTON By /s/manual or facsimile Mayor ' � ATCEST: /s/manual or facsimile City Clerk 7he Bond Registrar's Certificate of Authentication on the Bonds shall be in substantially the following form: � � CERTIFICATE OF AUTHENTICATION � ;� ' This bond is one of the bonds described in the within-mentioned Bond Ordinance and is one of the Limited Tax General Obfigation Bonds, Series 2011A af the City of Renton, ;� Washington,dated , 2011. WASHINGTON STATE FISCALAGENCY, as Bond Registrar ' � � By � Section 7. Execution of Bonds. The Bonds shall be executed on behalf of the City ' with th�e manual or facsimile signatures of the Mayor and City Clerk of the City and the seal of the City shall be impressed, imprinted or otherwise reproduced thereon. , Only such Bonds as shal! bear thereon a Certificate of Authentication in the form hereinbefore recited, manually executed by the Bond Registrar, shall be valid or obligatory for any purpose or entit{ed to the benefits of this ordinance. Such Certificate of Authentication -19- osn,n, � � ORDINANCE NO. 5613 shall be conclusive evidence that the Bonds so authenticated have been duly executed, . authenticated and delivered hereunder and are entitled to the benefits of this ordinance. In case either of the officers who shall have executed the Bonds shall cease to be an . officer or officers of the City before the Bonds so signed shall have been authenticated or � . delivered by the Bond Registrar, or issued by the City, such Bonds may nevertheless be authenticated, delivered and issued and upon such authentication, deli�ery and issuance, shall be as binding upon the City as though those who signed the same had continued to be such officers of the City. Any Bond may be signed and attested on behalf of the City by such persons who at the date of the actual execution of such Bond, are the proper officers of the City, although at the original date of such Bond any such person shall not have been such officer of � � the City. � Section 8. Application of Bond Proceeds. The City shall establish a fund designated the "Library Construction Fund" (the "Project Fund") into which the proceeds of the Bonds (other than accrued interest, if any) shall be deposited. IVloney in the Project Fund shall be used to pay the costs of the Projects and costs of issuance of the Bonds. The Finance Director , may invest money in the Project Fund in legal investments for City funds. Earnings on such � ` investments shall accrue to the benefit of the Project Fund. Any part of the proceeds of the Bonds remaining in the Project Fund after all costs of the Projects have been� paid (including costs of issuance) may be used for capital purposes of the City in accordance with the Federal Tax Certificate or may be transferred to the Bond Fund, after consultation with bond counsel to the City. � -20- osr2titt � . , . _ .. . . .. . . . � ' . : ............... .. ' .. i . ORDfNANCE N0. 5613 � Section 9. Tax Covenants. The City covenants that it will not take or permit to be taken on its behalf any action that would adversely affect the exemption from federal income taxation of the interest on the Bonds and will take or require to be taken such acts as may reasonably be within its ability and as may from time to time be required under applicable law : � to continue the exemption from federal income taxation of the interest on the Bonds. � (a) Arbitrage Covenant. Without fimiting the generality of the foregoing, the City covenants that it will not take any action or fail to take any action with respect to the proceeds ' of the sale of the Bonds or any other funds of the City which may be deemed to be proceeds of the Bonds pursuant to Sectior► 148 of the Code and the regulations promulgated thereunder . which, if such use had been reasonably expected on the dates of delivery of the Bonds to the initial purchasers thereof, would have caused the Bonds to be:treated as "arbitrage bonds" within the meaning of such term as used in Section 148 of the Code. The City represents that it has not been notified of any listing or proposed listing by the ; . � Internal Revenue Service to the effect that it is an issuer whose arbitrage certifications may not be relied upon. The City will comply with the requirements of Section 148 of the Code and the applicable regulations thereunder throughout the term of the Bonds. ' (b) Private Person Use Limitation for eonds. The City covenants that for as long as the Bonds are outstanding, it will not permit: (1) More than 10% of the Net Proceeds of the Bonds to be allocated to any � Private Person Use; and (2} More than 10% of the principal or interest payments on the Bonds in a Bond Year to be directly or indirectly: (A)secured by any interest ir� property used or to be -21- osizvi� ORDINANCE N0. 5613 used for any Private Person Use or secured by payments in respect of property used or to be : used for any Private Person Use, or (B)derived from payments (whether or not made to the City) in respect of property, or borrowed money, used or to be used for any Private Person Use. . Th.e City further covenants that, if: � � (3) More than five percent of the Net Proceeds of the Bonds a're allocable to any Private Person Use; and (4) More than five percent of the principal or interest payments on the Bands in a Bond Year are (under the terms of this ordinance or any underlying arrangement) directly or indirectly: (A) secured by any interest in property used or to be used for any Private Person Use or secured by payments in respect of property used or to be used for any Private Person Use,or � (B) derived from payments (whether or not made to the City) in respect of property, or borrowed money, used or to be used for any Private Person Use, then; (i) any Private Person Use of the Projects described in subsection (3) hereof or Private Person Use payment� described in subsection (4) hereof that is in excess of the five percent limitations � described in such subsections (3) or (4) will be for a Private Person Use that is related to the state or local governmental use of the Projects funded by the proceeds of the Bonds, and {ii) any Private Person Use will not exceed the amount of Net Proceeds of the Bonds allocable to the state or local governmental use portion of the Projects to which the Private Person Use of such portion of the Projects funded by the proceeds of the Bonds relate. The City further covenants that it will compfy with any limitations on the use of the Projects funded by the -22- osrz,i„ . . I i � ORDINANCE N0. 5613 , . � proceeds of the Bonds by other than state and local governmental users that are necessary, in i the opinion of its bond counsel, to preserve the tax exemption of the interest on the Bonds. The covenants of this section are specified solely to assure the continued exemption from regular income taxation of the interest on the Bonds. (c) Modification of Tax Covenants. The covenants of this section are specified solely to assure the continued exemption from regular income taxation of the interest on the Bonds. ' i s of this section ma be modified or eliminated without any To that end, the provis on Y requirement for formal amendment thereof upon receipt of an opinion of the City's bond counsel that such modification or elimination will not adversely affect the tax exemption of interest on any Bonds. � , (d) No Designation under Section 265(b). The City has not designated the Bonds as ° "qualified tax-exempt obligations" �under Section 265(b)(3) of the Code for investment by financial institutions. Section 10. Bond Fund and Provision for Tax LevY PaVments. The City hereby authorizes the creation of a fund to be used for the payment of debt service on the Bonds, designated as the "City of E2enton Limited Tax General Obligation Bond Debt Service Fund, 2011" (the "Bond Fund"). No later than the date each payment of principal of and/or interest on the Bonds becomes due and payable,the City shall transmit sufficient funds, from the Bond Fund or from other legally available sources to the Bond Registrar for the payment of such principal and/or interest. Money in the Bond Fund not needed to pay the interest or principal next coming due may be invested in legal investments for City funds. -23- osnvt� � ...._...._ _.._._.. . . .. . ..._.. . , _. .. — . ORDINANCE Na.5613 7he City hereby irrevacably covenants and agrees for as long as any af the 6onds are � � � autstanding and unpaid that each year it will inc(ude in its budget anc4 levy an ad valorem tax upon al! the property within the City subject to taxation in an amount that wil! be sufficient, together with a!f ather revenues and maney af the City lega4ky available for such purposes;to I pay the principa!of and interest on the Bonds when due. � The City hereby irrevocably pledges that the annua!tax pravided far herein to be lev€ed , fc�r the payment of such principa4 and interest shaU be within and as a parC of the tax levy permitted to cities withaut a vote of the people, and that a sufficier�t portion of each a�nuaE levy to be levied and co(fected by the City priar to the fiuEl payment o€ the principal of and interest on the Bonds will be and is hereby irrevocably set aside, pfedged and appropriated for the payment of the principal af and interest on the Bands. The fuEl faith, credit and resources of the City are hereby irrevocably pledged #or the anr�ua) levy and coilectinn af said taxes and for the prampt payment of the principal af and irtterest on the 8onds when due. I Section 11. Defeasance. In the event that the City, ta effect the payment, � retirement or redemption of any Bond, sets aside in the Bond Fand or in anather speciai account, cash or noncallable Government t�biigations, or any combination af cash and/or noncallable Government C}bligations, in amaunts and tnaturities which, toge#her with the known earned incame tFterefrom, are sufficient to redeem or pay and retire such Band in I accordance with its terms and to pay when due the interest and redemption premium, if any, � 1 therean, and such cash and/or nancallable Goverrtment Qbligations are irrevocably set aside , and pledged for sueh purpose,then no further payrnents need be made into the Band Fund for the payment of the principal of and interest on such Bond. The owner of a Band so provided -24- �rz�n5 � , .. � . .._.......:.............. -- -------=- - - ....... _ .. --� - , ORDINANCE N0.5613 ; for shall cease to be entitled to any lien, benefit or security of this ordinance except the right to receive payment of principal, premium, if any, and interest from the Bond Fund or such special ' account, and such B�ond shall be deemed to be not outstanding under this ordinance. . The City shall give written notice of defeasance to the owners of all Bonds so provided � for within 30 days of the defeasance and to each party entitled to receive notice in accordance with Section 14 of this ordinance. Section 1Z. Sale of Bonds. i (a) Bond Sale. The Bonds shall be sold at negotiated sale to the Underwriter pursuant to the terms of the Bond Purchase Contract. The Underwriter has advised the i Council that market conditions are fluctuating and, as a result, the most favorable market ! conditions may occur on a day other than a regular meeting date of the Council. The Council I has determined that it would be in the best interest of the City to delegate to the Designated �, Representative for a limited time the authority to approve the final interest rates, aggregate � II � principal amount, principal amounts of each maturity of the Bonds and redemption rights. The I �i Designated Representative is hereby authorized to approve the final interest rates, aggregate principal amount, principal maturities and redemption rights for the Bonds in the manner provided hereafter so long as (a)the aggregate principal amount of the Bonds does not exceed $18,000,000, (b) the final maturity date for the Bonds is no later than December 1, 2031, (c)the Bonds are sold (in the aggregate) at a price not less tham 95%,and not greater than ; 110%, and (d)the true interest cost for the Bonds (in the aggregate) does not exceed 4.00%. (n determining whether or not to acquire a Bond Insurance Policy and determining the final interest rates, aggregate principal amounts, principal maturities and redemption rights, . -25- os�2,n� _ . .... �----...... ..._ . . ..... . - ------.___....__.-------._._.._ .... _ . t �RDINANCE N0. 5613 the Designated Representative shali take into account thase factors that, in his ac her � � judgment, will resuit in the lowest true interest cast on the Bonds to their maturity, includ'sng, � but not limited to eurrent financia! market conditions and current interest rates for abligatior►s comparabfe in tenor and quality to the Bonds. Subject to the terr�s and cor�ditions set farth ir► this Sectiart 12, the Designated Representative is hereby authorized to execute the Bond Purchase Contract. The signature of one of the listed Designatec3 Representatives shali be sufficient, Fol{owing the execution of the 8ond Purchase Cantract, the Designated i Representative or the Finance Director shafi provide a report to the Councif, describing the , finaE terms of the Bonds approved pursuanfi to the authority delegated ir� this section. The authority granted to the Designated Representative by this Section 12 shafl expire 120 days after the effective date of this ordinance. If a Bond Purchase Contract for the Bands has nt�t ' been executed within 220 days after the effective date of this ordinar�ce,the authorization for the issuance of the Bonds shall be rescinded, and the Bands shal) nat be issued nor their sale . approved unless such Bands shaN have been re-authorized by ardinance of the Cc�uncil. The ardinance re-authorizing the issuance and sale of such Bands may be in the form of a new ordinance repealing this ordinance in whole or in part or may be in the form of an atnendatory ordinance approving a bond purehase contract or estabEishing terms and conditions far the authori#y delegated under this Section 12. (b) Delivery of Bonds; Qocumentation. Upon the passage and appraval of this ardinance, the praper afficials af the City including the Designated Representative, are ; authorized and directed ta undertake aii actian n�cessary far the prompt execution and delivery af the Bonds to the Underwriter thereof and further ta execute all closing certificates � -26- os�zin a i � � ORDINANCE NO. 5613 and documents required to effect the closing and delivery of the Bonds in accordance with the terms of the Bond Purchase Contract. (c) Preliminary and Final Official Statements, The Finance Director is hereby authorized to ratify and to deem final the preliminary Official Statement relating to the Bonds for the purposes of the Ru(e. The Finance Director is further authorized to ratify and to approve for purposes of the Rule, on behalf of the City, the Official Statement relating to the issuance and sale of the Bonds and the distrifiution of the Official Statement pursuant thereto ' with such changes, if any, as may be deemed by her to be appropriate. Section 13. Bond Insurance. The Finance Director is hereby further authorized to solicit proposals from municipal bond insurance companies for the issuance of a Bond , Insurance Policy. In the event that the Finance Director receives multiple proposals, the Finance Director may select the proposal having the lowest cost and resulting in an overall � lower interest cost with respect to the Bonds. The Finance Director may execute a commitment received from the Insurer selected by the Finance Director. The Council further : authorizes and directs all proper officers, agents, attorneys and employees of the City to � cooperate with the Insurer in preparing such additional agreements, certificates, and other documentation on behalf of the City as shall be necessary or advisable in providing for the Bond Insurance Policy. � Section 14. Undertakin�to Provide On�oin�Disclosure. (a} Contract/Undertaking. This section constitutes the City's written undertaking for the benefit of the owners, including Beneficial Owners, of the Bonds as required by Section (b)(5) of the Rule. . -27- osa,n, ,. ,. . � -- ORDINANCE N0. 5613 (b) Financial Statements/Operating Data. The City agrees to provide or cause to be ' provided to the Municipal Securities Rulemaking Board ("MSRB"), the following annual financial information and operating data for the prior fiscal year (commencing in 2011 for the '� � fiscal year ended Qecember 31, 2010): 7.. Annual financial statements, which statements may or may not be audited, showing ending fund balances for the City's generaf fund prepared in accordance with the Budgeting Accounting and Reporting System prescribed by the Washington State Auditor • pursuant to RCW 43.09.200 (or any successor statute) and generally of the type included in the official statement for the Bonds under the heading "General Fund Comparative Statement of Revenues, Expenditures and Changes in Fund Balance"; 2. The assessed valuation of taxable property in the City; 3. Ad valorem taxes due and percentage of taxes collected; 4. Property tax levy rate per$1,000 of assessed valuation; and 5. Outstanding general obligation debt of the City. � Items 2-5 shalf be required only to the extent that such information is not included in the annual financial statements. . ' ; � The information and data described above shall be provided on or before nine months , after the end of the City's fiscal year. The City's current fiscal year ends December 31. The City may adjust such fiscal year by providing written notice of the change of fiscal year tp the MSRB. In lieu of providing such annual financial information and operating data, the City may cross-reference to other documents available to the public on the MSRB's internet website or filed with the Commission. -28- ' osrz�n� . . , . ... . . - ._. . . ,.� ORDINANCE NO. 5613 If not provided as part of the annual financial information discussed above, the City ' shall provide the City's audited annual financial statement prepared in accordance with the � ' Bud etin Accountin and Reporting System prescribed by the Washington State Auditor g g g pursuant to RCW 43.�9.200(or any successor statute)when and if available to the MSRB. (c) Listed Events. The City agrees to provide or cause to be provided to the MSRB, in a timely manner not in excess of ten business days after the occurrence of the event, notice of the accurrence of any of the following events with respect to the Bonds: � 1. Principal and interest payment delinquencies; 2. Non-payment related defaults, if material; 3. Unscheduled draws on debt service reserves reflecting financial difficulties; 4. Unscheduled draws on credit enhancements reflecting financial difficulties; 5. Substitution of credit or liquidity providers, or their failure to perform; 6. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting � the tax status of the Bonds; ' 7. Modifications to the rights of Bondholders, if material; -29- osiz,n, C}Rf�1NANCE N{,�. 563.3 8. Optianal, contingent or unscheduled Bond calls other than scheduled � i sinking fund redemptions for which notice is given pursuant to Exchange Act Release 34-23856, if material,and tender offers; 9. Defeasances; �_ 10. Release, substitution, or sale af property securing repayment of the 6onds,if material; . 11. Rating changes; : 12. Bankruptcy, insolvency, receivership or similar event of the City; 13. The consurnmatian of a merger, consofidation, or acquisition involving the City or the sale of all or substantially all of the assets af the City, other than in the ordinary caurse of business,the entry into a definitive agreement to undertake such an acfiion or the terminatian of a definitive agreement relating to any such actions, other than pursuant ta its terms, � i if material;and � 14. Appointment of a successor ar additianal trustee or the change of name of a trustee,'sf materiat. ; The City shall promptly deterrnine whether the events described above are material. {d) Formafi far Filings with the MSRB. All natices, financial infarmation and I operating data required by this undertaking to �e provided to the MSRB must be in an I electronic format as prescribed by the MSRB. A(I docurnents provided ta the MSRB pursuant to this undertaking must be accompanied by identifying informatian as prescribed by the MSRB. -30- osiz,n t -- ... _ .-------_..._ . ----- ,. _.- ., . .. i ; ORDINANCE NO. 5613 (e) Nofification Upon Failure to Provide Financial Data. The City agrees to provide � or cause to be provided, in a timely manner, to the MSE26 notice of its failure to provide the annual financial information described in Subsection (b) above on or prior to the date set forth � in Subsection (b) above. ' i (� Termination/Modification. The City's obligations to provide annual financial information and notices of certain listed events shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. Any provision�of this section shall be null and void if the City (1) obtains�an opinion of nationally recognized bond counsel to the � effect that the portion of the Rule that requires that provision is invalid, has been repealed retroactively or otherwise does not apply to the Bonds and (2) notifies the MSRB of such ' opinion and the cancellation of this section. The City may amend this section with an opinion of nationally recognized bond counsel in accordance with the Rule. In the event of any amendment of this section, the City shall � describe such amendment in the next annual report, and shall include a narrative explanation of the reason for the amendment and its impact on the type (or in the case of a change of accounting principles,'on the presentation} of financial information or operating data being presented by the City. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (A) notice of such change shall be given in the same manner as for a listed event under Subsection (c), and (B)the annual report for the year in which the change is made shall present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. -31- osmn� ORDINANCE N0. 5613 , (g) Bond Owner's Remedies Under This Section. The right of any bondowner or ! Beneficial Owner of Bonds to enforce the provisions of this section shall be limited to a right to � . � obtain specific enforcement of the City's obligations under this section, and any failure by the City to comply with the provisions of this undertaking shall not be an event of default with I respect to the Bonds. . (h) No Default. Except as otherwise disclosed in the City's official statement relating ' to the Bonds,the City is not and has not been in default in the performance of its obligations of i ' � any prior undertaking for ongoing disclosure with respect to its obligations. Section 15. Lost, Stolen or Destroved Bonds. In case any Bond or Bonds shall be lost, . . i stolen or destroyed, the Bond Registrar may execute and deliver a new Bond or Bonds of like date, number and tenor to the Registered Owner thereof upon the Registered Owner's paying . , the expenses and charges of the City and the Bond Registrar in connection therewith and upon his/her filing with the City evidence satisfactory to the City that such Bond was actually lost, stolen or destroyed and of his/her ownership thereof, and upon furnishing the City and/or the Bond Registrar with indemnity satisfactory to the City and the Bond Registrar. ; Section 16. Severabilitv; Ratification. If any one or more of the covenants or � agreements provided in this ordinance to be performed on the part of the City shall be declared by any court of competent jurisdiction to be contrary to law, then such covenant or covenants, agreement or agreements, shall be null and void and shall be deemed separable I from the remaining covenants and agreements of this ordinance and shall in no way affect the ! validity of the other provisions of this ordinance or of the Bonds. All acts taken pursuant to the -32- osrzv» I _ � , � . - ORDINANCE N0. 5613 I authority granted in this ordinance but prior to its effective date are hereby ratified and ' confirmed. Section 17. Effective Date of Ordinance. This ordinance shall be effective upon its passage, approval, and thirty(30)days after publication. PASSED BY THE CITY COUNCIL this 20th day of June, 2011. �i1,Lc. � !.f l�s��.d-r�LJ Bonnie I. Walton, City Clerk APPROVED BY THE MAYOR this 20th day of June, 2011, l ,�-= . _ � ; Denis Law, Mayor Approved as to form: i , De na Gregory � Pacifica Law Group LLP Bond Counsel •�'"'� � . ' . . ..ti�`�V�~ , `'�, ., �4: 1 . Date of Publication: 6/24/2011 (summary) . w• -' . . ��'� ck-' r�i' , .r•:; a! ' � : u.; ' � , C�' �J. � i . ,. �� J . `'v C'% i y t ' , J� • . .. ,S:iV�� , . ., � ♦ . .��n. .'�'_.� . '#.. • ..�-n.a<+"� . . .f' �'.: -33- os�»n, _ • • CAG-11-130 � ' � � , RCW 39.34 tNTERlOCAL AGREEMENT BETWEEN THE CITY OF RENTON AND KING COUNTY LIBRARY SYSTEM RELATED TO CON5TRUCTION OF TWQ KCL•S LIBRARiES IN THE GITY OF RENTON � THIS INTERLOCAL AGREEMENT (the "Agreement") is made and entered into this `f day of 2011, by and between the City of Renton, a noncharter cade city under RC 35A.03, and a municipal corporation in the State of Washington (hereinafter referred to as the "�it�'), and King County Library System, established and aperated under RCW 27.12, in King County, in the State of Washington (hereinafter referred to as "KCLS"}. � RECITALS A. The citizens of the City appraved annexation into the KCLS on February 9, 2010. � B. The City and KCLS have discussed and agreed that the City will provide land and funding far, and KCLS should maintain and operate, two new library facilities in the City of Renton for the benefit af the citizens of Renton and the surrounding communities. {collectively referred to herein as the "Project"). B. The City and KCLS cantemplate that the Project will include one new library designed, constructed, staffed and maintained in downtown Renton and another designed, constructed, staffed and maintained in the Sunset-area of Renton. C. The Project is contingent on the City acquiring title ta the properties upon which the tibraries are to constr.ucted and associated rights-of-way, easements, and or covenants as may be required. D. The Praject also requires that KCLS manage and oversee the design and constructian of both libraries and also operate and maintain the libraries. E. The Project and this Agreement set forth below are authorized by the Interlocal Cooperation Act, RCW 39.34. � NOW, THEREFORE, in consideration of the terms and provisions, the Parties agree as follows: AGREf MfNT 1. Parties• The City and KCLS are collectively referred to herein as the "Parties". 2. Pur ose: � 1 1 - - - - _ � � � . # The purpose of this Agreement is ta define the respective rights, rales, responsibi{ities of the contracting Parties cancerning their contribution of land, funding, planning, construction and management of the land and the libraries to be erected on that land. 3. Scope of Work: a. The City to Provide librar�lacatians and fundin�: The Cifiy will be the (ead agency in the acquisitian and due diligence necessary to provi�e suitab(e land and will contribute funds, as detailed further hersinbelow, for the design and construction af two rtew City of Renton library facilities consistertt wittt or st�perior i�t form, function and quality of ather recently construeted (ibraries in the King County Library System. i. 7he City will retain ownership of the underlying land at each library site that is ultimately selected �each a "Site" and coliectively, fihe "5ites") and wiii provide the Sites with clear title, exclusive of public rights-of-way dedication and any conflicting � easements or cavenants extinguished as well as baundary line � adjustments that may be required in order to design �nd construct library facilities. The City wil! conduct ar have conducted a Phase I enviranmental review and investigatiQn af each Site and if such review determ':nes there is an existing environmental hazard, ar�d if the City decides to purchase the Site, the City will remediate that cflndition prior to or cor►temporanec�usly with the purchase af the appiicable Site. � b. The City witl fund the foliowing costs: � i. Site acquisition; � ii. Design; iii. Canstruction of finished library structures {excluding the items iisted in Section 3�d} below, landscaping, off-site utility . connections, parlcing, surface water management systems, and necessary infrastructure improvements; and iv. Public art that is integrated in to the structure subject ta KCLS Art Selection Policy and the City's 1%for Art regutations. v. "fhe City will also be the lead agency for SEPA reviews, land use determinatians and any required conditional use permits. c, KCLS'to Qwn, Operate and Maintain libraries: KCLS will own, €�parate and maintain the library structures on the Sites c�wned by the City at na charge, pursuant to ground leases with renewable terms of 200 years so Eong as fihose structur�s are operated as public libraries and neither structure is abandoned, neglected, or unused 2 � • i ' i - � � far at feast 360 calendar days without any stated intent from KCi.S (or its successor)to continue library uses. � � I d. KCLS ta furnish furnifiure, fixtures and equipment typicai for KCLS pubiic library aperations: KCLS will #und all library furniture, fixtures and equipment (FF&E), interiar signage related to fibrary functians {i.e,, excluding exit signage, ACtA signage, etc.}, library materials, staff and day-to-day operational expenses. Upan the earlier af {i� "substantial completion" of , or (ii� issuance of a certificate of occupancy for each project, KCL5 u�rill pay fvr operating expenses for th� completed praject, pursuant to a ground lease to be entered into between the City and KCLS, as further descrik�ed in 5ectian � below. As used herein, "substantia4 completion" shall oeeur upon the completion of construction pf the library building improvements pursuant ta the Appraved Designs(as defined belaw�such that it can be put ta its intended use,with the exception ofi any punchlist items. 4. Design and Bid Process: a. Lead Design /�gency: iCCl.5 shall be the lead agency in develapment of the , libraries' design. KCLS will be the lead agency in th� design phase far each library in order tc� establish a single point af contact for vendors, arehitects and other entities and �shall have fina! authority regarding the Library program, space planning, site planning and related program impacts and the i�terior design and improvemenfis. As lead agency, KCLS shall execute, hold and administer aH cc�ntracts and agreements necessary to design the praject impravements. i. The architects and cansultants will be selected using the tCCI.S procedures and the following. ii. The qua(ificafiian submittals wilt be reviewed by twa City representatives and two KCLS representatives to determine three design and/or constructian finalists for each (ibrary. iii. 7he interviews far the finalists will be conducted with a panel to include two City representatives, one memb�r of the Renton � Eibrary Advisary Board (RLAB�,.and one member of the Renton Municip�! Arts Commi�ssion {RMAC}. KCLS wiU be represented by up tv four K�LS administratian representatives and a KCLS l.ibrary Board Member. b. Staff of Design Team:The Parties will jaintly staf€the Design i"eam: A "design Team" will be established fc�r each library praject that includes the cansultant team (includ'€ng apprt�priate representafiives frc�m . the architect and en�in�er), KCLS staff, up tt� two City representatives, two members fram the RLAB, and ane member fram the RMAC. . � � � � i i, �'he aesign leams wiil host a community open house afi the outset af each library's design process ta discuss the potential design concepts and library programming elements desired by the pubiic. ii. The Design Teams wili host a second set af community open houses tn present the schematic designs far each (ibrary. � iii. The Design Team and th� Architect will present the respective schematic designs to the Rentan Gty Cauncil and the KCLS Library Baard. iv. The Design Teams will review and provide input at each m�lestane phase: schematic design, design develapment and cc�nstruction dcacumer�ts phase. These meetings rrtay be coordir►ated with tl�� receipt af cost estimates. . c. Selection of Final Design:The Parties wili jointly select the fina)designs: At the completian of schematic design phase,�the City and KCLS will apprave a design far each of the library projects (each an "Approved Design" and collectively, the "Approved Designs"}. The City an� KCI.S staff wiil deveiop project budgets for each facitity taased on the projected � cast estimate that wi11 in+�lude a change order cantingency of 10%of each respective library's project cast and in addition a pra�ect contingency al(ocation for each library of 5% of the total budgeted cosfi. The budgets shall be in substantially the form attached hereto as Exhibit A. The #otal project cost establishes the City's maximum contribution amount {the tata! amount af the City's #inancia! commitment to the two library .prc�jects)(the "City's Nlaximurn Contributian"}. ff the actual bid costs exceed the Appraved Des9gn4s), then the Appraved design shaff be modified in a manner mutually acceptabte to the City and KCI.S so as to fit within the budget eanstraints. d. Authority to Change Design: �hanges to a project follawing schematic design may be initiated by either Party. i. Design changes required by the City wiil be paid fram the Project contingency, unti(that fund is exhausted. Additional funds will be added to the City's Maximum Cantribution in arder ta accammodate changes directed by the City. ii. Design changes that are required by KCLS shall also be paid fram the Project contingency. However, KCL5 sfiall reimburse the funds drawn from the Praject contingency fund if the same is exh�usted fQr the Project, to the extent that it was drawn clown by KCLS changes. iii. llnforeseen c�r ernergency char�ges shall k�e paid from the Project contingency €und until it is exhausted. Thereafter, the City shaEl be obligated ta fund #he increase in casts due ta the necessary design change. Unforeseen emer�encies shall generaily be 4 I • • . � understood to be of the nature of events contained in Section 19, Force Maieure. iv. Changes in the normal course of construction wili be funded from � � the 1U% change order contingency and then from the Project contingency. e. Lead Bidding Agency: KCLS wifl manage the bidding process: i. Once the budget and the Approved Designs are finalized, KCl5 will assis# the consultant teams in preparing the bid dacuments and specifications. KGLS will manage the public bid process in accordance with KCLS Purchasing Policies. ii. Constructian Contract Bidding: 1. KCLS shall provide the City a minimum of one copy of the plans and specifications advertised for bid, and an electronic file of the contract documents. 2. KCLS shall require that the City is included as an additional . insured on the cantractor(s) insurance policy(s), and that the City is included in the contract(s) indemnification . provisions and receives the same protection as received by KCLS. 3. KCLS shall follow all applicable Federal, State and tocal laws, rules and regulations in the expenditure of the funds to be paid by the Gity to KCLS in connectian with the Project: KClS represents to the City that its procedures are consistent with applicable laws relating to public contract bidding procedures, and the City neither incurs nor assumes any responsibility for KCLS's bid, award or contracting process. 4. In connection with this Agreement, neither KCLS nor any party contracting or subcontracting in connection with the Praject shall discriminate on the basis of race, color, sex, religion, nationality, creed, marital status, sexual orientation, age or the presence of any sensory, mental or physical handicap in employment or application for employment or in the administration of the delivery of services or any other benefits under this Agreement. KCLS sha11 comply fully with all applicable Federal, State, and local laws, ordinances, executive orders and regulations that prohibitsuch discrimination. 5. Construction: a. Lead Construction Agency: KCLS shall, be the lead agency in #he canstruction phase and manage the construction of each library in order to establish a single point of contact for vendors, contractors and other 5 . • � entities. As lead agency, KCLS shall execute, hold and administer ail contracts and agreements necessary to construct the project improvements. � i. KCLS, as the lead agency in the design and construction phases for each library, shall have a duty to make gbod faith and commercially reasonable efforts to keep the project within budget. ii. A "Construction Team" wili be established for each library project that includ�s the contractor, the design consultants, KCLS staff or designated construction manager for KCI.S (currently, URS Corp.), and the City's�acilifiies Director. a. KCLS wiil provide direction and cost review with the General Contractor. b. Once constructian commences, the Construction Teams will meet as needed but no less than weekly throughout the respective projects. c. KCLS shall be responsibfe for project management, providing direction and coordinating cost reviews for the projects. All change orders that involve the project cantingency funds shall be reviewed and approved by KCLS and the City's Facilities Director or designated project representative, in their respective reasonable discretion. Such approvals shall be provided in a timely and responsible manner. d. No change orders to Approved Designs shall be made following commencement of construction, except in the sole discretion of KCLS. The responsibility for the cost of change orders wi11 be as follows: 1. Change orders that come at the sole request of the City shall by the sole responsibility af the City. If the cost exceeds the City's established Maximum Contribution, and no cost savings can be found to offset such cost increases, the Ci#y will determine either to bring additional funds to the Project or withdraw the change order; 2. Change orders that come at the sole request of KCLS shall be the sole responsibility of KCLS; 3. Change orders that come as a result of the mutual desire of KCLS and the City or necessitated due to unforeseen conditions shall be the responsibility of the City. If the cost exceeds the City's established Maximum Contribution,the City or KCLS may seek to either reduce the scope or may agree ta bring additional funds to the Project. KCLS may elect to provide additional funds to the Project, in its sole discretian, but shall not be required to do so; and 4. KCLS will be responsible for any project time delays and associated costs caused so(ely by, or arising directly from, any action or inaction by KCLS. � 6 . • e. The City may furnish an inspector (at the City's expense) to monitor compliance with requirements during the constructian of the Project. The City's inspector shall advise KCLS of any deficiencies noted. KCLS shall take � any necessary action to resolve the deficiencies noted by the City's inspector. The City's inspector shall npt communicate directly with or instruct the Project contractor directly on any matters. 6. Pavment of Desi�n and Construction Costs. a. Payment for Design and Construction:City to pay on a reimbursement basis for the design and construction up to the City's Maximum Contribution amount as designated for the specific library. � i. On ar around the 1pt" of each month KCLS will prepare a reimbursement invoice for the City for its portion of the Project casts which shall include all amounts that were invoiced to KCLS , for the Project in the previous month, and for which the City is ultimately responsible, consistent with this Agreement and any other specifically adopted documents. The form of the monthly invoice to be submitted by KCLS is attached hereto as Exhibit 6, ii. KCLS shall include in their billing statement a copy of the Contractor's approved itemized partiaf payment request for that billing period to document the amount of the actual construc#ion completed. iii. The reimbursement invaices to the City will include as documentation photocopies af alf of the underlying Project . invoices received by KCl.S. The Project invoices will be copied after review and approval for payment by KCLS and wil! include indication of KCLS's approval of the same. iv. To the extent possible, the Parties will work to provide the City's Facilities Director or his or her designee an opportunity to review and initial the underlying Project invoice5 for items for which the City is responsible, upon receipt by KCLS from the Contractor, in order to identify any areas of disagreement between the Parties as soon as possible and to streamline the City's payment process. v. Except for thase invoices on which Parties have not reached agreement, all KCLS' invoices to the City shall be payable by the City within 30 days. KCLS and the City agree to use electronic payment as the payment method and the City will deposit the . reimbursement payment directly into the account designated by KCLS. vi. The Parties further agree to work diligentiy with each other to resolve any questions or disagreements on any outstanding invoices expeditiously. The City and KCLS agree that fiime is of the essence regarding these payments since KCLS is making payment 7 � � an Project invoices that are ult�mateiy the respons�b�lity af the City. vii. KCLS shali make availab(e to the City a(i necessary documentation #hat the City reasonably requires or may require ta satisfy any audits or reviews of the City's expenditures. 7. Potential library(ocations: a. Dawntowrt Library: The potential Dovuntown Renton Library sites are 508 South Third 5treet(Big 5}and 5Q4 South Third Street{Raxy Theatre}, i. At the downtouun Site that is selected, City wili fund cor�struction of, and KCLS agrees to operate, a library buildir►g and related infrastr�cture of up to 20,00� square feet. KCL.S will endeavor ta provide this size of building within the Project budget. However, shauld the amount af canstructian bid prices exceec� the established budget, the scope of the Project and the Appraved Design may be altered as necessary to meet the budget . constraints. KCLS may elect ta contribute additional funds to the Project in its sole discretian, but shalf have no obligation ta do so. ii. Expected dedicated free parlcing for library patrons will be pravided on the Seattle Public Utilities (SPU� right-vf-way (RC?W} immediately north of the site. 2. The City will be res�onsible far the SPU's extending of easement rights to KC�.S or atherwise securing appravat for KCLS tc�utilize the RflW from SPU. Z. If at some point �n the future it becomes feasible fio charge for parking, the City reserves the right ta da sa after sufficienfi notice and discussion with K��S anc# subje�t to the terms of the easement with SPU. The distribution of any future parking revenue, including the possibility of sharing proceeds with KCLS, would be determined by separate agreement prior to implementation. iii. Tentative timeline: 1. 5ite Acquisition—Q2 2011 2. Select Consultant Team and initiate Conceptual Design -- Q2 2011 3. Schematic and Design Qevelapment Phase Encluding Public and City Counci! review—six tQ nine months 4. Constructian Qocuments and Permit Set Preparation-four to six months 5. Fermit Reviews—three months 6. Fublic Bid to Natice to Proceed for Canstructi�n �- three months 7. Constructian ta Occupancy—�.2#014 months $ � � 8. Moue in and punch list—twa manths 9. Warranty -one year follawing Final Acceptance b. Sunset Library; 7he potential Sunset Library �(on Sunset Blvd NE, between NE Harrington Avenue and NE 14th Street(street address TBD��. � i. City wil! fund construction and KCLS will operate a (ibrary and related infrastruc#ure up to 15,OQ0 square feet. ii. Approximate{y sixty �60� dedicated free parlcing stails are expected to be provicled in a combir�ation �f an undergraund parlcing garage and � on adjacent public streets. The Ftenton Housing Authority, the e�ty, and future �ubtic and{crr private partners may deveiop plans for redevelapment of the remaining portian of the Sunset library site. This redevelopment may incarporate the library structure itself after discussion and approval by KCLS. Such a mixed-use deuelopment wauld require a separate agreement by the parties. 1. 7entative/proposed timeline: 2. City and Library District SeCect Cansultant Team—Q2 2011 3. 5ite plans options study is developed with the City, RHA and KCLS Q2 2011 4. City and RFIA negotiate ar�d determine properky trans#er(s) —Q2 2011 5. RHA submits Demalitian/�isposition applicatic�n to US C1ep#of Housing&Urban aevefapment(HU[3) —Q2 2�12 . 6. Schematic and Design Deveiopment Phase `tncluding . Pubiic and City Council review—six to nine months 7. HUD approves Demolitian/Disposition appiication —ear(y 2013 . 8. Constructi�n Documents and Permit Set Preparatian-faur to six manths 9. RHA applies for and receives relacation vouchers #ar Sunset Terrace residen#s—Q2 2012 10. Permit Reviews—two manths—Q3 2022 11. If necessary, Surtset Terrance residents relocated to alternative housing—three ta six months 12. Publie Bid to Notice to Proceed far Constr�uctiQn — three manths 12. Construction to C}ccupancy—12 to 14 months 13. Mave in and punch fist—two months 14.Warranty -one year followin�Final Acceptance 8. Mediation/Dispute Resotution: a. If either Party believes th�t there has been a material breach of the 9 � � aforementioned contract, they must provide written notice within seven (7} days of learning of that material breach {where "learning" means the awareness that any known factual circumstances constitute a material breach). � b. The Party that is has been given notice of a material breach must clarify or cure tlie material breach within {14}days or within a reasonable period oftime. c. Failure to clarify or cure the material breach within (14)days or within a reasanable period oftime results in the Parties submittingta the requirements of Section 8{d) of the Agreement. d. In the event of a dispute between the Parties regarding this Agreement, the Parties shall attempt to resolve the matter informally. If the Parties are unable to resolve the matter informally within 3p days, a "neutral" third-party shal! be mutually iden#ified to hear disagreements in mediation. If the Parties cannot agree to a mediator the Parties agree that they shall jointiy apply tn the American Arbitration Association or � another professional mediation service. e. Unless otherwise expressly agreed #o by the Parties in writing, both the City and the KCLS shall continue to perform all their respective obligations under this Agreement during the resolution of the dispute. 9. Termination of the A�reement;Ground Lease: � a. This Agreement shauld be terminated fallowing the warranty period of the last completed project (one year fallowing final acceptance} and replaced by a Graund Lease ta be developed. The Ground Lease shall include the following provisions: i. The City will lease the Sites to KCLS at no charge. � ii. tCCLS will agree to operate public library facilities within the buildings cvnstructed on the Sites. iii. KCLS will maintain the buildings constructed on the Sites and adjacent (andscaping. iv. KCLS will maintain fulf-replacement property insurance on the buildings constructed on the Sites. vi. In the event of a condemnation or casualty that results in the destructian of all ar a majority of either of the buildings constructed on either Site, KCLS will canfer with the City and the City may elect whether ta have KCLS use the insurance proceeds to rebuild the library structure on the Site ar, in the case of 10 � • condemnation, to use the condemnation proceeds to canstruct a library in another location. � vii. Each (ease shall have a renewabie term of 10Q years so long as the . library buildings are operated as public libraries and are not abandoned, neglected; or unused for more than 360 consecufiive days without any stated intent from KCLS {ar its successor)to continue library uses). 10. Extension ofthe A�reement: The City and KCLS may agree to extend the duration of this Agreement as necessary to #ulfill the purpose of this Agreement. In order for any such � extensions ta occur, the Parties must agree in writing to extend the agreement not less than thirty (30) days prior ta the otherwise applicable . expiration date. If the Parties have not agreed to the extension in writing by the otherwise applicable expiration date,the Agreement shall expire. � 11. Duration: � 7his Agreement shall become effective upon appraval by the City and KCLS and shall confiinue until the second quarter of 2014, unless otherwise terminated in accardance with Section 9 or extended in accordance with Section 10 of this Agreement. 12. Audi#s and Inspections: The records and documents with respect to alf matters covered by this Agreement shall be subject to inspection, review or audit by the KCLS or the City during the term af this Agreement and three years after termination or expiration. Audits and inspections shall be the responsibility of KCLS. The City shall support KCLS in meeting audit and inspection requirements. 13. Indemnification, Hold Harmless and Defense: KCLS represents to the City that it has or will have adequate supervision for those participating in the Project and that a(I applicable rules, regulations, statutes and ordinances will be complied with in their entirety. KCLS ag�ees to indemnify, hald and defend the City, its elected official, afficers, employees, agents, and voEunteers harmless from any and all claims, demands, losses, actions, violations and liabilities (including costs and all a#torneys fees) to or by any and all persons or entities, including without limitation,their respective agents, licensees, or representatives, arising fram, resulting from, or connected with the Agreement to the extent caused by the negfigent acts, errors or omissions of KCLS, its partners, shareholders, agents, empfoyees, or by KCLS's breach of this Agreement. KCIS shall require that the City is included as an additional insured on the contractorts) insurance policy(sj, and that the City is included in the � Il � � contract(s} indemnification provisions �nd receives substantially the same pratection as received by KCLS. KCLS waives any imrr�unity that may be grar�ted ta it under the Washington State lndustrial Insurance Act,7'itle 51 RC1N. KC�S's indemnificatian shal! nc�t be limited in any way by any limitation of the amount of damages, compensation c�r benefits payabie to or by any thirc!-par#y under workers' compensatic�n acts, disabiliky benefit acts or any other benefits acts or pragrams. THE PARTEES AGREE THAT TMEY SRECiFICAL�.Y t�EGOTIATEa iHl5 SEGTtfJN aN INDEMNIF{�AT10N. In the event that any suit based upon such a claim, action, (oss, or damage is braught against the City, KCLS sha11 defend the same at its sole cost and expense, provided that the City retains the right to participate in said suit if � any principal or governmental or public taw is involved, and if fina!judgment be rendered against the City and its officers, agenfis, and employees, or any of them, or jointly-against the City and KCLS and their r�spective officers, agents,and emplc�yees,or any of them, KCLS sha!!satisfy the same, The City shall indemnify and hold harmless KCLS and its c�fficers, agents and employees or any of them from any and all ciaims, actior�s, suits, liability, . lass, costs, expenses, and damages of any nature whatsoever, by reasan or arising out af any negligent action or ornission of the City, its officers,agents, and employees, or any t�f them, in perfiorming obligatians pursuant to this Agreement. (n the event that any suit based up�n such a claim, action, ioss, or damage is braught against KCLS, the City shall defend the same at its sole cost and expens�, provided that KCLS retains the right to participate in said suit if any principal of governmental or public law is involved; and if final judgment be rendered against KCLS and its officers, agenfis, employees, or any of them, or jointly against the City and KCLS and their ►-espective officers, agents, and employees or any af them,the City shal! satisfy the same. ? I'm not sure that this is necessary. . As KCIS is the lead agertcy in the design and construction of the libraries, KClS shal!indemnify the City far any cEaims of design �r canstructian defects, or negligence. The City waiv�s any immunity that may be granted to it und�r the � Washingtan State Industria) Insurance Act, 1"itle 51 RCW. The Cit�s � indemnification set forth above shall nat be timited in any way by any limitation of the amounfi af damages,compensation or benefits payable to or by any third-party under warkers' compensation acts, disability benefit acts or any other benefits acts or programs. THE PARTIES AGREE THAT ThlEY SPECIFICALI.Y NEGO7IATED THI5 SECTION �N INDEMNIF(CATION. 12 i • 14. Ne�li�ence: The Parties acknowledge and agree that if such claims, actions, suits, liability, loss, costs, expenses and damages discussed above in Section 13 are caused by or result from the concurrent negligence of the City, its agents, employees, and/or officers and KCLS, its agents, employees, and/or officers, this Section shalf be valid and enforceable only to the extent of the negligence of each party, its agents, employees and/or officers. 15. Dutv to comply with the law: . In executing this Agreement, the Parties do not assume liability or ' responsibility for or in any way release the other party to this Agreement from any liabifity or responsibility that arises in whole or in part from the existence or effect of City ordinances, rules, regulations, policies or . procedures. If any cause, claim, suit, action or proceeding (administrative or judicial), is initiated chaflenging the validity or applicability of any City ordinance, rule or regulatian, the accused party shall defend the same at its ' sole expense and if judgment is�entered or damages awarded against the City, KCLS, or both, the City, KCLS, or both shall satisfy the same, including all chargeable costs and attorneys'fees. 16. Discrimination Prohibited: In all of KCLS's services, programs, or activities, and all of KCLS's hiring and employment made possible by or resufting from this Agreement there shall be no discrimination by KCLS or by KCLS's employees,agen#s,subcontractors, volunteers or representatives against any person because of age, {except minimum age and retirement provisions), sex, marital status, sexual orientation, race, creed, color, national origin, honorably discharged veteran or military status, or the presence of any sensary, mental, or physical disability, unless based upon a bona fide occupational qualification in relationship to hiring and employment. Any material violation of this provision shall be grounds for the City to immediately terminate this Agreement. ' � 17. Breach: In tNe event of a breach of this Agreement, if a Party waives a breach, that waiver to pursue remedies related to that breach does not waive that party's � right to pursue remedies for future breaches of this Agreement. ' � 18. Waivers: � All waivers shall be in writing and signed by the waiving party. Either Party's faiiure to enforce any provision of this Agreement shall nat be a waiver and � shall not prevent either party from enforcing that provision or any other provision of this Agreement in the future. i3 i � I � � 19. Farce Maieure: If either party cannat perform any of its abligations due to euents beyond its reasonable contro! (other#han#he payment pf rr►oney�,fihe tirne pravided for performing such obligatians shall be extended by a period of time equal ta the duration of such events. Events beyand a parfiy's reasonable cantrol include, E�ut are not limited ta, acts of God, war, civi! commation, labor disputes,strikes,fire, ffood or other casualty, shartages of labor or materials, government regulations or restrictions (ather than regulations crr restrictians adapt�d or impased t�ythe City} and weather conditions. 20. Remedies Cumulative: j Any remedies pravided for under the terms of this Agreement are not I intended to be exclusive, but shall be cumulative with all ather remedies I available to the�ity at law, in equity, or by statutes. I 21. Governin�Law.� This Agreement shall be made in and sha!) be governed by and interpreted in accardance with the laws c�f the 5tate of Washingtan. Any liabilities due ta property damage or injury to persons arising out of activities cc�nducted pursuant to this Agreement sha11 be governed by Washingtvn State law. 22. Administration: Each individual executing this Agreement on behalf af the City and KCLS represents and warrants that such individuals are duly authorized to execute I and deliver this Agreement on behalf of KCLS or the City. This Agr�ement I shall be administered by KCLS Director or his/her designee, and by the City I Administrator of Cammunity and Ecanomic Development, or his/her I designee. 23.Amendments: This Agreement is the compfete express�on of the terms her�tc� and any oral representatior� or understanding not incorpc�rated herein is excluded. Any modifications to this Agreement shall be in writing and signed by bofih Parties. � 24. Draftin�of this A�reement: j Each party has participated and/or had an equal opportunity fio parfiicipate in II the drafting of this Agreement. As a result, this Agreement shal! not be I 14 � I � � construed against one party ar fihe other as a result of the preparation, substitution, submission ar other event of negotiation, drafting ar execution hereaf. � I 25. �e�ai Re,preser�tation: . I . � The Parties are responsible for prt�viding far ti�eir own legai seruices at their own expense. • 2�i. I�IOtIC�S: Any natices required to be given by fihe Parties shall be delivered at the addresses set farth below. Any notices may be delivered persc�nally to the addressee of the rtafiice or rnay be deposited in the United States mail, postage prepaid,ta the�ddress set forth below. Any no'tice so posted in the United States mail shall be deemed received three (3� days after the date of mailing. V1lritten r�otEce sent tQ the City should be address�d as follc►ws; Name: Alexander Pietsch,Administra#or City of Renton Department af Community 8c Ecantrmic Development xQ55 Soufih Grady Way - Renton,WA 98057 Written notice to KCL5 shalf be sent to the address in KCLS signature black on � the last page of this Agreement. 27. No Third-PartY Beneficiaries: Thfs Agreement 4s rnade and entered intc�for the sole protectic�n and benefit r�f the Parties listed above. No other person or entity shall have any right of - action or interest in this Agreement based upon any pravision set forth herein. 28. Assi�nment. Neither K�LS nor the City shal) have the right to transfer ar assign, in whate ar in part, any ar all of its abiigations and rights hereunder without the prior . written cons�nt ofthe other Party. 29.Severabilitv: If a Court of competent jurisdiction determines that any portian of this Agreemen� is f�und to be invalid, illegal, or unenfc�rceable, that 15 � M , determination shall in no way affect or invalidate any other provisian hereof and such ather provisions shall remain in full farce and effect. IN WITNESS WHEREOF,the Parties have caused this Agreement to be executed fihe day and year set forth above. King County library System City of Renton .. 1� � /�? i i'(..:1.,.� �� J•V� f�� rgf Bil) Ptacek Denis Law Director-KCLS Mayor-City of Renton 960 Newport Way NW 1QS5 South Grady Way Issaquah, WA 98027 Renton,WA 99057 � Phone:425-369-3200 Phone:425-430-6500 APPROVED AS TO FORM: " �'�'`-"��G��wG�=r�..^-�-�:�: Lawrence!. Warren Renton City Attorney Attest: ' _��dr�S`72�`€n;C.�' `�• (.UL�k�� Bonn�.e I. Walton, Cifi.y Clerk .:;ia.>�'�rY�i�,w:=�.�-<,:_:.Y.. c;,. i;y:`'-r, .;;. e,a..�;n � .�tf' l��.. � 1'�'��., J�r�} �� ` } ' � ' € { . ,, � . ' F u. ��, . ' . .�,: � 16 � � . EXHIBIT A 5AMPLE BUDGET SHEETS - RENTON DOWNTUWIV - RENTON HlGHLAND5 � � .., .. . .. .. � . . . .. .. -. . . � � :.:`��:.Preliminar.y Rent�pn.�..o.wntawn.l:ibrarX.:Budget:/��locati.on.:': ; •: �.:�:�` ::� :.�.'�.�.�. This pretiminary cost projection is for 15,Op0 sq ft or 20,OOq sq ft singte story bui[ding with parking Costs hased on recent i{CLS Project Experierice Cost ailacation as of lune 28th,2Q11 Kenian K��` Single Story urith Street Parking 15,000 sq ft 20,OQq sq ft 15,C100 sq ft 20,400 sq ft Slte�OStS $ 632,000 $ I,535,000 Construction $ 6,165,534 $ 8,220,713 Owners Costs S 1,�14,�zs $ �,961,520 Off Site De�elopment $ szs,000 � sa�,000 Library FF�&Materials S - S �,4�o,zso $ s,�so,9oo 1'otat EsEimated Cost � 9,337,�.�� 5 �2,sa2,zss S x,��o,zso S 1,68o,soa Prelirninary Cost Allocations ,L � :o s - -�: -� .rr �c�`� �, �� '�.�-��^-,��`',��-'�'�.��'�.^�%t,y,'��'.`.."`�,,�g .a:?��?,. .w�t .."�:b .�� 'c.„a�=��: fr'��e��:4��5��'., .�t��-��;NN"u�"�"w�*i''�`--��: �'£F�c��.Y:3 �i�j( KCLS Categary Detaii 15,000 sq ft 28,000 sq ft Site Acqui5ition Estimated-NotActua! Purchase Price-Prope $ 525,000 $ 1,400,000 Legal $ 15,000 $ 20,040 (BigS) Demolition $ 65,400 $ 80,000 {Ro�tyYheater} Survey-Tit1e Report $ 12,(3fl0 $ 15,d04 Environmentai Ana1y: $ 15,QOtT $ 20,OOd Total Site tosts ��632,OOU ,.�-1,535,Q04 " �"'��. � ��j�� ... , �. . ..a.. ��^��'��''�"�."se.esli'-:�3'k'A.��h'��-"'.�'"�-�'_ '��`eA.F"ro�w.�:. �+�� ,'.,'"v'�"�''''�'�'y�:'�-'y,a" �..,..c�._-..._.,-..��-�.:. Construction $325/sqft Estimated Cost $ 4,875,p00 $ b,506,000 c7tangeordercantingencyZOqo $ 487,500 $ 65{#,000 WSST-9.5% $ 549,438 $ 679,25fl subtotal $ 5,$71,93$ $ 7,829,250 prpjert contingency 5% $ 293,597 $ 391,463 Fota!Prajected Costs 8uilding construction $ 5,165,534 $ 8,220,713 �� ...��`�"'�'��s�,��-��;�r�'��''-�»�� - - ��,3 `�. .�w��'��*�;.�.;`�-��.� t � .a �.�.-�. z�^��_-� a.:- � ,�.�:c-c�s..s..�=x.< r"a. Offsite Development Frontage Improvements street(3rd) $ 300,004 $ 300,Q0{} street{parking conne< $ 344,Q00 $ 3fl0,000 Utilities-place hoider $ 150,000 $ 150,000 Contingehcy 10% $ • 75,000 $ 75,000 TptalFrontag8 tosts Projetted $ 825,U00 $ 825.00a � ��a��.�� •.�.�:=�=� ;� �„ �-y.��.. �,.,. .:u%u��*.,��.� �-^ta�"'ic_ ,,,r. . .�. .c...':"'N3;.=-.:.,�:� .W.� _��-x�_.-,.,n�� «•s "An'.'c 3�m'r�P-xem ^°rc �na.'T"�i� ?''�'a e�'-+.�3'.Kz_+x'2-.- � � , Owners Costs Architects Fee $ 422,000 $ 525,000 Geo Technical{Soils) $ 9,500 $ 12,000 i'raffic+Park+ngStud� $ 7,500 $ 7,500 Survey(Refine survey $ 5,000 $ 6,500 subtatal basic services $ 0.44,000 $ 55I,000 Other Consultants Fees Addenda Allowance Architectural $ 50,000 $ 65,000 Additional architecC servl $ 250,000 $ 250,000 Civil Engineer $ �53,000 $ 55,OOQ Landscape Architect $ 36,000 $ 40,000 ' Interiors $ 85,000 $ 85,060 Electrical Engineer $ 50,000 $ 65,000 Cost Estimator $ 25,000 $ 34,000 Mechanicel-Plumbin� $ 95,000 $ 95,000 Conceptual Site anay $ 5,000 $ 5,000 Acoustical $ 24,150 $ 25,000 Lighting $ 31,900 $ 33,OOD structural $ 1fi,200 $ 16,20D Consultant Coordination Fee $ 35,000 $ 40,000 PublicArtCoordination $ 5,000 $ 7,500 19'0 of construction costs Art w4rk • $ 61,000 $ 78,000 Legal-contracts $ 2,500 $ 2,500 ME Commissioning Support $ 20,000 $ 25,000 As Built Revisions $ 20,000 $ 25,000 Reimbursibles $ 3�,000 $ 40,000 Additional Services estimated $ 864,750 $ 982,200 Permit Fees $ 250,000 $ 250,000 � ConUngency @10% $ 155,875 $ 178,320 Projected: Total Owners Costs $ 1,714,625 $ 1,961,520 • am��r�ci�-'�'�'-"`��a�::��--- . _ ,��, _ .z . ;-�:' '.,,�=''.��_._SR�.:;::.;,�:.. '�`�''."�� '..:�',��"��a�"��x-sm�rv'�..�'�.�r'--`�� xi� ��.�''G'�r:. J"'" r�,. h_ f.�:.�rt��`.,��.� I,ibrary Fumiture,Fbctures,Equipment,Supplies,Library materials Furniture $ 190,000 $ 230,000 shelving $ 200,000 $ 240,000 specialized shelvinglighting $ 200,000 $ 270,000 office equipment/start up supplies $ 22,500 $ 30,0�0 signage-Wayfinding $ 125,000 $ 150,�00 computer-telcom equipment $ 90,000 $ 99,000 Contingency 10% $ 82,750 $ 101,9�0 sub total FFE $ 910,250 $ 1,120,900 Librarycollectlon Materials $ 100,000 $ 100,Op0 automated check in system $ 460,000 $ 460,000 $ 1,470,250 $ 1,580,900 Total � � � I . �::#?reliminary.Ret�taq.�lghl�rtiis.:l.ibr��'y�tatSgetAllUc�tiQrt :':: �:,:`��._�, ` � ��. TNis preliminary Cost projection is for 15,000 sq fc single sCary buiiding with 54ructured Parking Costs based on recent KCtS ProJect Experience s Cost allacation as of June,2Q11 Renton , KCLS ;_� Singie Story with Street Farking 15,d00 sq ft { ' 4 Site Costs � s5a,000 , ; .,.____ ___.._ , i 3 Canstructiot� S 7.sss,zaa t � ; {7►wners Costs S �,�sa,6ao j Off Site Develapment � sz�,000 Cibrary FFE&Materiafs $ - $ 2,fi1s,o� � Tota!Estimated Cost � $ 1U,14Q,844 $ 1,616,000 Detailed Preliminary Cost Allocations _ - ��.� �. ��'�� x ->,. -f<,��-��w�-�.��^ u�, ... Ctty KCIS Category Detail 15,4UQ sq ft Site Acquisition Est3mated-1VotActual PurchasePrice-Property $ 25,QOb I�egai $ 25,Od0 Demolitian $ 6S,000 • Survey-Tstle Report $ 12,{�00 Environmental Analysis $ 25,000 � Tptal Site costs $ 152,000 _ _�� . ...k�, ��.._ .„�..r m.��, , . �:�� . .._ �.. -. 4._ ..�;�. � .,•,y-� COn5tt'UCtiOri � $325fsqft Building&landscape $ 4,875,000,; $30,40Q/stalt Farkingfor 4a vehicles $ 2,20QOQ0 t � chcrngeordercontingencyl0% $ 607,500 j ~ ; ' WSST-9.5� $ 634,83$ subtatal $ 7,317,338 " proJect contirrgerrcy 5% $ 365,867 Tatal Projected Costs BuFlding construction $ 7,683,204 � -�1 ;. c:- e .�e.��:. � �mt. � _..$�.�e�r;r�r:...>� mt• ..w.: .. r�•� .... . �.� .�� _�... .::�'�.'��<x s's� � 'Offsite Development . Frontage ImprovemenYs street(3rd) $ 300,000 I sCreet(parking connection} $ � 30(3,OOp Ufilities-p#ace holder $ 15p,t}00 Cantingency 101a $ 75,40Q Tota!Frontage costs Projeded $ &25,000 - �.°;�, `�;� _ _ � � Owners Costs Architects Fee $ 485,000 GeoTechnical(Soils] $ 15,000 Tra#fic+ParkingStudy $ 7,500 Survey(additional) � �Q�Q i -"--""�'�_ _ ___ __ subYotal basicservices $ SJ.2,50�; — t ; Other Consuitanis Fees f Additional Services Allowance Architectural $ 48,Q00 ?Y f�� V Civil Engineer $ 100,000 � LandscapeArchitect $ 35,000 i Interiors $ 30,000 � Electricaf Engineer $ 60,000 ` . Cost Estimator $ 35,000 � Mechanical-Ptumbing $ 50,000 { Conceptual Site anaylsis $ 20,000 ~ ' —__.. ; � Acoustical $ 10,000 ; Consuitant Coordination Fee $ 40,000 � PublicArtCoordination $ 5,000 � 1%of construction costs Art work $ 78,000 � Legal-contracts� � $� �� Z,500 MECommissioningSupport $ 25,000 As Built Retisions $ 15,000 � Reimbursibles allowance $ 30,000 Permits $ 250,000 Contingehcy @10% $ 134,600 Projected: Total Owners Costs $ 1,48d,600 � � � C� r r.^+; ",=qt•r,,-,?r'°t��s:� -,G.. � k�s�"•� c �'`'�:..,- ��"�.- .'=�-�i'�."�'^��" „�:.�.�^s��,,�" -sr �a ,�w,,:j�3;-a. �x„�,�.�-,',?3.:�'..,:"'x '�r�'�s.:l _. ,�C�•'.�=5�'5�,.��...�.`:�.4�:.r .=w c�-.w4r. <�: .�'��a:• �'�'3�. 'j_';��'' .�s,s5��...:,uc,�.. c..�-�^� Library Furniture,Fixtures,Equipment Supplies,Library materiats Furniture $ 200,000 shelving $ 250,000 I � officeequipment/startupsupplies $ 50,000 signage-Wa�nding • $ 150,000 computer-telcom equipment $ 110,000 Specialized Shelf Lighting System $ 200,000 Contingency 10% $ 96,000 Subtotal FFE $ 1,056,000 Opening Day Collection Additions $ 100,000 Automated Self Check In System ^ $ 460,000 � Total $ 1,616,000 l_ _ � � EXHIBIT B FORM(3F KCLS MOl�THLY PROJECT COSTS INVO[CE � 18 I � I R mit To: � date: 12/31/2010 � , • King Counfy�.ibrary System Account; 9 957 Business t�ffiee Page: 1 960 Newport Viray NW issaguah WA 9$027 Bitting Address: Customer Address: I Ciiy of Renton Renfan�Cify of . { City af Rsntan 1055 S.Grady Way � 1 t�55 S_G�ady Way Rentpn WA 98057 Ren#on WA 98067 This is a courtesy reminder. !f you have sent you�payrnet�i,piease disregard this na#it�. Pfease call(425)369-3265 if you need assistance. Date Number Typs t#em Due Date t2emark Amount i Total Amount lnvaiced �� Batance Rue ��_�