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