HomeMy WebLinkAboutORD 3896 � ����� b�b���3��-� �N1�a ;
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CITY OF RENTON, WASHINGTON
ORD I NANCE NO. 3 8 9 6 ;
AN ORDINANCE providing for the issuance of
$2 , 600,000 par value of Water and Sewer Revenue
Bonds , 1985; of the City for the purpose of obtaining
a part of the funds with which to pay the cost of
carrying out the system or plan of additions to and
betterments and extensions of the waterworks utility
of the City, including the sewerage system as a part
thereof , and providing a required amount for the
arts ; fixing the date, form, denomination, maturi-
ties , maximum interest rate, terms and covenants of
such bonds; creating a special bond redemption fund
to provide for the payment of the bonds ; and provid-
ing for the sale of such bonds .
WHEREAS, by Ordinance No . 1156, as amended by Ordinances
Nos . 1157 and 1173, the sewerage system of the City of Renton
(the "City" ) has become and is considered a part of the water-
works utility of the City (defined below as the "Waterworks
Utility of the City" ) ; and
WHEREAS, the City previously has issued under date of March
1, 1953 , �315,000 par value of City of Renton Water and Sewer
Refunding and Improvement Revenue Bonds, 1953 (the "1953
Bonds" ) , pursuant to Ordinances Nos . 1450 and 1452; and
WHEREAS, by Section 15 of Ordinance No . 1450, the City
reserved the right to issue additional water and sewer revenue
bonds which would constitute a charge and lien upon the revenue
of the Waterworks Utility of the City on a parity with the then
outstanding 1953 Bonds on compliance with the following condi-
tions at the time of the issuance of such additional bonds :
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" (A) All payments required by this ordinance to
be paid into the 'Renton 1953 Water and Sewer Refund-
ing and Improvment Revenue Bond Fund ' shall have been
made; and
" (B) The revenues of said waterworks system,
including the sewerage system, shall be and be deemed
sufficient, after the payment of operation and main-
tenance costs and taxes , based upon the historical
experience of said systems or the pro forma revenues
under then existing rates over a period of any
twenty-four consecutive months out of the thirty-six
months immediately preceding the time of the issuance
of such additional bonds, to equal at least 1.5 times
the average annual principal and interest require-
ments of the bonds of this issue then outstanding and
of the revenue bonds proposed to be so issued. Such
� determination of the sufficiency of the revenues
shall be made and certified to by an engineer experi-
enced in municipal utilities; and
" (C) The Ordinance authorizing the issuance of
such additional revenue bonds shall provide for the
setting aside into a reserve fund or account of an
amount not less than the average annual debt service
requirement, both principal and interest of the
additional revenue bonds proposed to be so issued,
which reserve fund or account shall be maintained in
such amount so long as any of said bonds are out-
standing to the last maturity thereof " ;
and
WHEREAS, the City thereafter issued under date of September
1 1954 $325,000 par value of City of Renton Water and Sewer
. .
Revenue Bonds. 1954, purs
uant to Ordinance No . 1489; under date
of July 1, 1959, $750,000 par value of City of Renton Water and
Sewer Revenue Bonds, 1959, pursuant to Ordinance No. 1766; under
date of May 1, 1965, $500, 000 par value of City of Renton Water
and Sewer Revenue Bonds, 1965 , pursuant to Ordinance No. 2151;
under date of December 15, 1965, $545,000 par value of City of
Renton Water and Sewer Revenue Refunding Bonds, 1965, pursuant
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to Ordinance No. 2195, for the purpose of refunding, redeeming
and retiring on July l, 1974 , all of the then outstanding City
of Renton Water and Sewer Revenue Bonds, 1959; under date of
July l, 1975, �3 ,000,000 par value of City of Renton Water and
Sewer Revenue Bonds, 1975, pursuant to Ordinance No. 2930; under
date of February l, 1976, $2 , 950,000 par value of City of Renton
Water and Sewer Revenue Ref unding Bonds, 1976, pursuant to
Ordinance No . 3007, for the purpose of refunding, redeeming and
retiring on January l, 1989, and July 1, 1989, all of the then
outstanding City of Renton Water and Sewer Revenue Bonds, 1975 ;
under date of June 1, 1977 , $3 ,095,000 par value of City of
Renton Water and Sewer Revenue Refunding Bonds, 1977 (the "1977
Bonds" ) , pursuant to Ordinance No. 3141, as amended by Ordinance
No. 3145, f or the purpose of providing a part of the money
required to pay the principal of and interest on the City of
Renton Water and Sewer Revenue Refunding Bonds, 1976, coming due
to and including July 1, 1989, and to redeem and retire on July
1, 1989, the outstanding City of Renton Water and Sewer Revenue
Refunding Bonds, 1976, numbered 96 to 590, inclusive, maturing
from July 1, 1990, to July I, 2000, inclusive; and under date of
November 1, 1977, $800,000 par value of City of Renton Water and
' Sewer Revenue Refunding Bonds, 1977, Issue No . 2 (the "1977
Bonds, Issue No. 2" ) , pursuant to Ordinance No . 3169, for the
purpose of obtaining a part of the funds with which to refund,
pay and retire the outstanding City of Renton Water and Sewer
Revenue Bonds, 1954, City of Renton Water and Sewer Revenue
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Bonds, 1955, and Cfty of Rentan Water and Sewer Revenue Refund-
Iing Bonds, 1455, all af which bands were at the time of their ,
lssuance issued on a parity pf lien with the then outstanding
1953 Bands and with each other pursuant to �.he pravisions of
Section 15 0€ Ordinance Na . 1450, such parity issues of bonds
being a first lien and cha�ge upon the grass revenue of the
Waterworks Utility of the Cit�y, excludinq charges fQr m,ainte-
nance and operation, except that all of the 1953 Bonds have now
been paid and retired, and except the conditions af subparagraph
{B) af Sectian 15 af Clydinance No. 1450 were madified by Section
12 of Ordinance No. 29�30 pertaining to the Ci�.y of Renton Water
and Sewer Revenue Bonds, 1975, and by Section 13 of Ordinance
No. 3169 pertaining to the outstanding I977 Bands, Issue No . 2,
as ta any garitp bands issued in the future, and the City, by
, Section 13 of Ordinance No . 3169, reserved the right to issue
Future Parity Bonds (as therein defined) which will constitute a
Iien and charge upon the gross revenue of the Waterworks Utility
af the City an a parity with the 1977 Bands , Issue Na. 2, if the
I condltians set forth in Sect3c�n 15 of Ordinance No. 145Q, as
modi£ied, are met and complied with at the time of the issuance
af such Future Parity Bonds , which section was incorpo�ated by
reference in Ordinance Na. 3159 and made a part thereof and
shall continue to be applicable even though the 1953 Bonds have
been paid and retired; and
WHEREAS, under date of December 1, 1977, the City issued
$3,445,000 par va2ue af City of Renton Water and Sewer Revenue
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Refunding Bonds, 1977, Issue No. 3 (the "1977 Bonds, Issue No .
3 " ) , pursuant to Ordinance No . 3188, for the purpose of obtain-
ing a part of the funds with which to refund, pay and retire all
of the then outstanding 1977 Bonds, and under date of May l,
1983, the City issued $1, 5�0,000 par value of City of Renton
Water and Sewer Revenue Bonds, 1983 (the "1983 Bonds" ) , pursuant
to Ordinance No. 3720, for the purpose of carrying out a system
or plan of additions to and betterments and extensions of the
Waterworks Utility of the City, which 1977 Bonds, Issue No . 3 ,
and 1983 Bonds were issued on a parity of lien with the out-
standing 1977 Bonds, Issue No . 2 , pursuant to the provisions of
Section 15 of Ordinance No . 1450, as modified by Section 13 of
Ordinance No. 3169; and
WHEREAS, the 1977 Bonds , Issue No. 2, the 1977 Bonds, Issue
No. 3, and the 1983 Bonds are the only bonds presently outstand-
ing payable out of the revenue of the Waterworks Utility of the
City; and
WHEREAS, the parity provisions of Section 15 of Ordinance
No. 1450, as modified by Section 13 of Ordinance No. 3169 and
Section 12 of Ordinance No . 3720, provide that the City may
issue additional water and sewer revenue bonds which would
u on the revenue of the Waterworks
constitute a charge and lien p
Utility of the City on a parity with the 1977 Bonds, Issue No .
2, the 1977 Bonds, Issue No . 3 , and the 1983 Bonds and any bonds
issued thereafter and having a charge and lien upon the revenue
of the Waterworks Utility of the City on a parity with such
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bonds on compliance with the following conditions at the time of
the issuance of such additional bonds :
" (A) All payments required by any ordinance to
be paid into any bond redemption funds and accounts
thereof created to secure the payment of bonds issued
on a parity of lien herewith shall have been made
into the respective bond redemption funds and
accounts thereof for the payment of such bonds and no
deficiency exists therein; and
" (B) The revenues of said waterworks system,
including the sewerage system, shall be and be deemed
sufficient, after the payment of operation and main-
tenance costs and taxes , based upon the historical
experience of said systems or the pro forma revenues
under then existing rates over a period of any
twenty-four consecutive months out of the thirty-six
months immediately preceding the time of the issuance
of such additional bonds, to equal at least 1.3 times
the average annual principal and interest require-
ments of the bonds of this issue then outstanding and
of the revenue bonds proposed to be so issued. Such
determination of the sufficiency of the revenues
shall be made and certified to by an engineer experi-
enced in municipal utilities; and
" (C) The Ordinance authorizing the issuance of
such additional revenue bonds shall provide for the
setting aside into a reserve fund or account of an
amount not less than the average annual debt service
requirement, both principal and interest of the
additional revenue bonds proposed to be so issued,
which reserve fund or account shall be maintained in
such amount so long as any of said bonds are out-
standing to the last maturity thereof " ; and
WHEREAS, on June 11, 1984 , the City Council passed and the
Mayor approved Resolutions Nos . 2546 and 2547 adopting the 1983
Comprehensive Sanitary Sewer Plan and 1983 Comprehensive Water
System Plan, respectively, f or the City, but for the purpose of
financing facilities in those plans it is necessary to specify
and adopt them by ordinance; and
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WHEREAS, the City Council has determined that it is neces-
sary and in the best interests of the City that certain addi-
tional improvements described in the Comprehensive Water System
Plan, 1983 , and the Comprehensive Sewer Plan, 1983, be made and
there be adopted a system or plan of additions to and better-
ments and extensions of the Waterworks Utility of the City; and
WHEREAS, the City Council has determined that it is neces-
sary to issue and sell $2 , 600, 000 par value of water and sewer
revenue bonds to provide a part of the funds necessary to carry
out such system or plan providing for additions to and better-
ments and extensions of the Waterworks Utility of the City, to
provide an amount for the arts as required by City Ordinance No .
2969 and to pay the costs of issuance and sale of the water and
sewer revenue bonds provided for herein; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO
ORDAIN, as follows :
Section l. As used in this ordinance, the following words
shall have the following meanings :
a. "Annual Debt Service" for the Bonds shall mean all the
interest plus all principal which will mature or come due in any
year .
b. "Average Annual Debt Service" shall mean the sum of
the Annual Debt Service for the remaining years to the last
scheduled maturity of the Bonds divided by the number of those
years .
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c. "Bond Fund" shall mean that special fund of the City
known as the 1985 Water and Sewer Revenue Bond Redemption
Account created by this ordinance as a separate account in the
Water and Sewer Revenue Parity Bond Fund for the payment of the
principal of and interest on the Bonds .
d. "Bond Registrar" shall mean the fiscal agencies of the
State of Washington in Seattle, Washington, and New York, New
York, as the same shall be designated from time to time.
e. "Bonds" shall mean the $2, 600,000 par value City of
Renton Water and Sewer Revenue Bonds, 1985 , authorized to be
issued by this ordinance.
f . "City" shall mean the City of Renton, Washington, a
duly organized and existing noncharter code city under the laws
of the State of Washington.
g. "Future Parity Bonds" shall mean all water and sewer
revenue bonds of the City issued after the date of the issuance
of the Bonds and having a lien and charge upon the Revenue of
the Waterworks Utility of the City on a parity
with the lien and
char e u on such revenue for the Outstanding Parity Bonds and
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the Bonds f or the payment of the principal thereof and interest
thereon.
h. "Maintenance and Operation Expense" shall mean all
expenses incurred by the City in causing the Waterworks Utility
of the City to be operated and maintained in good repair,
working order and condition, which shall not include any
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depreciation expenses or taxes or charqes in lieu of taxes
levied or imposed by the City.
i . "Outstanding Parity Bonds" shall mean the $800,000 par
value of City of Renton Water and Sewer Revenue Refunding Bonds,
1977, Issue No . 2, issued under date of November 1, 1977, pursu-
ant to Ordinance No. 3169, the $3 ,045,000 par value of City of
Renton Water and Sewer Revenue Refunding Bonds, 1977, Issue No .
3, issued under date of December 1, 1977, pursuant to Ordinance
No. 3188, and the $1, 500,000 par value City of Renton Water and
Sewer Revenue Bonds, 1983 , issued under date of May l, 1983 ,
pursuant to Ordinance No . 3720 .
j . "Principal and Interest Account" shall mean the
account of that name created in the Bond Fund by this ordinance
for the payment of the principal of and interest on the Bonds .
k. "Reserve Account" shall mean the account of that name
created in the Bond Fund by this ordinance for the purpose of
securing the payment of the principal of and interest on the
Bonds .
1 . "Revenue of the Waterworks Utility of the City" shall
mean all the earnings and revenue received by the Waterworks
Utility of the City from any source whatsoever, including pay-
ments received under contract with other municipal corporations
for water service, except general taxes, charges in lieu of
taxes, assessments in any utility local improvement district
hereafter created, proceeds from the sale of City property and
bond proceeds .
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m. "Term Bonds" shall mean any Outstanding Parity Bonds,
Bonds and/or Future Parity Bonds identified as such in the
ordinance authorizing the issuance thereof , the payment of which
is provided for by a requirement for mandatory deposits of money
into the principal and interest account of the bond redemption
fund created for the payment of such issue of bonds in accord-
ance with a mandatory sinking fund requirement .
n. "Water and Sewer Revenue Parity Bond Fund" shall mean
the fund of that name created by this ordinance .
o . "Waterworks Utility Fund of the City" shall mean that
special fund of the City into which all of the Revenue of the
Waterworks Utility of the City shall be deposited.
p, "Waterworks Utility of the City" shall mean the
combined water and sewerage systems of the City as the same may
be added to, improved and extended for as long as any of the
Outstanding Parity Bonds, the Bonds and any Future Parity Bonds
are outstanding.
Section 2 . The City specifies, adopts and orders the
carrying out of a system or plan of additions to and betterments
and extensions of the Waterworks Utility of the City consisting
of the improvements, acquisitions and work described in Exhibit
A attached hereto and by this reference made a part hereof .
There shall be included in the foregoing system or plan the
acquisition and installation of all necessary valves, pumps ,
fittings, couplings, connections, equipment and appurtenances ,
the acquisition of any easements, rights-of-way and land that
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I may be required and the perf armance af such work as may be
incidental and necessary.
All of the foregaing shall be in accordance with the plans
and specifications therefor prepared by the C1ty' s engineers and
consuiting engineers .
The City Council may madify the detalls af the foregoing
( system or plan where, in its judgment, it appears advisable if
f such modifications do not substantially alter the purposes o�
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� that system or plan.
� The Iife of the improvements comprising the foregoing
system or plan of additions to and betterments and extensions of
� the Waterworks Utility of the City is declared to be at leas�.
' twenty years . The estimated cost of the acquisition, construc-
tian, instal�atian and financing �f the above-�escribed imprave-
ments, inc2udinq the costs af issuance and sale af the Bands, is
declared to be approximately $3,458,040. Such cost shall be
paid from the proceeds of the Bonds authorized in this ordinance
and ather money vf ar received hy the City made available
therefar .
Section 3 . The City Council finds that all payments
required by 4rdinances Nos . 3169, 3188 and 3720 for the Out-
standing Parity Bonds have been made into the respective hond
redemptian funds �or the 4utstanding Parity Bonds. that provi-
sion is hereinafter made for the accumulation of the amounts
required in the Reserve Account of the Bond Fund, and that there
will be on file priar ta the issuance and delivery af the Bands
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a certificate af Richard H. Harbert of RH2 Engineering, P.S . , an
engineer experienced in municipal utilities, that the Revenue of
the Waterworks Utility is sufficient to meet �.he 1,3 caverage
requirement of thase ardinances .
Section 4 . For the purpose of providing a pa�t a� the
mr�ney reqv3red ta carry aut the system or plan of additions to
and betterments and extensions o� the Waterwo.rks Utility of the
City, including the cost of issuance and sale of the Bonds, as
herein specified, adapted and ardered to be carried out and to
provide an amount far the arts as required by 4rdinance No.
2969, as amended by 4rdinance No. 3563, the City shall issue the
Bonds in the aggregate principal amount of �2 , 600,000. The
Bonds shall be designated City of Renton Water and Sewer Revenue
Bands, i985 {deflned abave as the "Bonds" } ; shall be dated April
l, 1985; shall be in denominations of �5,OQC► each or any inte-
gral multiple thereaf within a single maturity; shall be
numbered separateiy in the manner and with any additional desig-
natian as the Bond Registrar deems necessary for the purpose af
identificatian; and shall bear interest, computed on the basis
of a 360-day year of twelve 30-day months, payable on October l,
1985, and semiannually thereafter on each succeeding Apri2 I and
October I at the rate or rates specified by the winninq bidder .
The BondS shall mature an April 1 of each year as follaws:
Maturity
Years Amounts
1986 � 60,000
a.�s� �o,aoo
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Maturity
Years Amounts
1988 70,000
1989 70,000
1990 75 ,000
1991 80,000
1992 90,000
1993 100,000
1994 105,000
1995 115,000
1996 130,000
1997 140,000
1gg8 155,000
199g 200,000
2000 150,000
2001 165 ,000
2002 180,000
2003 200,000
2004 220,000
2005 235,000
If any Bond is not redeemed upon proper presentment at its
maturity or call date thereof , the City shall be obligated to
pay interest at the same rate for each such Bond from and after
its maturity or call date until such Bond, both principal and
interest, is paid in full or until sufficient money for such
payment in full is on deposit in the Bond Fund and such Bond has
been duly called for payment .
Upon surrender thereof to the Bond Registrar, the Bonds may
be exchanged for Bonds in any authorized denomination of an
equal aggregate principal amount and of the same interest rate
and maturity. Bonds may be transferred only if endorsed in the
manner provided thereon and surrendered to the Bond Registrar .
Such exchange or transfer shall be without cost to the owner or
transferee .
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The Bands shall be issued only in registered form as ta
both principal and interest and recarded in the books and
records maintained by the Bond Registrar (the "Bond fteqister " ) .
The Bond Register shall contain the name and mailing address of
the owner c�f each Band or nominee of such owner and the princi-
paI amaunt and number �f Bonds held by each owner ar nominee .
Both prin�ipal of and interest on the Bonds shall be pay-
able in lawful money af the United States of America. Interest
an the Bonds shall be paid by check or draft mailed to the
registered owners at the addresses appearing an the Band Reg3s-
�' ter on the fifteenth day of the month preceding the interest
;� payment date , Principal af the Bonds sha11 be payable upon
presentation and surrender of �.he Bonds at ei�her office of the
Bond Registrar in Seattle, Washington, or New York, New York, at
the option of suGh owners. The Bonds �hall be payable salely
out of the Bond Fund, and shall be a valid claim of the owners
thereof only as against such Bond Fund and the amount of the
Revenue af the Waterworks Utility af the City pledged to such
fund, and shall not be a general obligatian 4f the City.
Sectian 5 . The �ity reserves the right to redeem priar to
their maturity the Bonds as a whole, or in part in inverse order �
of maturity {and by lat within a maturity in such manner as the
Bond Registrar shall determine) , fram money derived from any I
source at the following percentages of par if redeemed at the I
following times, plus accrued interest to date of redemption in I
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each case :
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� Call Date Call Price
April l, 1995, and October l, 1995 102'�
April 1, 1996, and October 1, 1996 101-1/2$
April 1, 1997, and October 1, 1997 101�
April 1. 1998, and October 7., 1998 100-1/2�
April l, 1999, ar any semiannual
interest payment date thereafter 1p0� (Par}
Any Bond 3n the principal amount of greater than $5,QQ4 may
be redeemed partially in any integral multiple of $5.000. If
less than all of the principal amount of any Hond is redeemed,
upan surrender af such Bond at the principal affice of the Band
Registrar, there shall be issued to the registered owner, with-
ou� charge therefor, a new Hand or Bonds, at �.he aption af the
registered owner, of like maturity and interest rate in the
aggregate principal amount remainfng unredeemed .
Notice af any call far redemption of any of the Bonds priar
to their stated maturity dates sha11 be given nat less than 30
nor more than 60 days prior to the date fixed for redemption by
first class mail , postage prepaid, ta the registered awner af
any Bond tt� be redeemed at the address appearing on the Bond
Reqister . The requirements of this �ection sha11 be deemed to
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� be camplied with when notice is mailed as herein provided,
whether or no� it is actually received by the owner of any
� Bond. Interest an any Bands so called far redemptian shall
cease on the date flxed for such redemption upon payment of the
redemptian price into the Bond Fund. Notice of such intended
redemption shall also be mailed within the same time periad,
pvstage prepaid, to the successful bidder for the Bonds, at its
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principal place of business , ar its successar. and ta Maody' s
Investors Service, Inc. , and Standard & Poor ' s Corporationt at
their offices in New York, New York, or their successors, but
the mailing of such notice ta such New York firms shall not be a
conditfc�n precedent to the redemption af such Bonds .
Th� City further reserves the right ta purchase any ar all
of the Bonds in the open marke� at any time at a price nat in
excess of 102� of the par value if purchased prior to April l,
2995, and thereafter not in excess of the call price appl.icable
at the time of such purchase.
Secti+�n 6 . There is created and established in the office
af the Director of Finance of the City a special fund to be
known and designated as the Water and Sewer Revenue Parity Band
Fund 1n whlch there shall be created a separate account and
sub-accounts for the purpose of paying the Bonds and each issue
of Future Parity Bonds . At such time as the Outstanding Parity
: Bonds are fully retired or defeased as provided in the respec-
� tive ordinances authori2ir�g the issuance of those flutstanding
Parity Bonds, then such separate accounts and sub-accounts shall
merge into a single fund with a principal and interest accaunt
and a reserve account . There is caceated the 1985 Water and
Sewer Revenue Band Redemptic�n Accc�unt, hereta�are defined as the I
Bond Fund, which shall be a separate bond redemption account
within the Water and Sewer Revenue Parity Band Fund. The Bond
Fund i� divided into two sub-accounts, namely, the Principal and
Interest Accc�unt and the Reserve Account. Sa lang as Bands are
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outstanding aqainst the Bond Fund, the Director of Finance af
the City shail (a) set aside and pay into the Principal and
Interes� Account in such fund out of the R�venue of the Water-
works Utility of the City a fixed amount, without regard to any
fixed proportion, namely, monthly, on or bef ore the first day af
each month beqinning with the month of Aprii , 1985, an amount,
toge�.her with the accrued interest received, equal. to 116th of
the amount of interest payable on the Bonds on 4ctober 1, 1985,
and thereaf�.er 1/6th of the next ensuing six months ' require-
ments �or interest, and beginning with the month of April, 1985,
1112th of the next ensuing twelve months ' requirements for prin-
cipal on the Bonds and continuing thereafter until the Bonds,
both principal and intere�t, are paid in full , and (b) set aside
and pay inta the Reserve Accaunt in the Bond Fund out af the
Revenue af the Waterwarks Utility of the City in substantially
equal monthly payments such amounts �o that by no later than
April 1.. 1990, there shall have been accumulated in the Reserve
Account in the Bond �'und fc�r the Honds an amount not 2ess than
the Average Annual Debt Service �or the Bonds .
The Reserve Account in the Bond Fund may be accumulated I
fram any other money which the City may have available for such �
� purpose in addition to using such revenue therefox .
� The City further agrees that when such required amounts
have been paid into the Reserve Account in the Bond Fund, the
City will at all times, except for wi.thdrawals therefrom as
autharized herein, maintain those amaunts therein until there is
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sufflcient money 3.n the Bond Fund, including the Reserve Account
therein, to pay the principal of and interest ta maturity an all
outstandinq �onds, at which time no further payments need be
made inta the Band Fund and the money in the Bond Fund, includ-
ing the Reserve Account, may b� used to pay such principal and
interest .
In the event there shall be a deficiency in the Principal
and Tnterest Account to meet maturing installments of either
principal or interest, as th� case may be, an the Bonds, such
deficiency shail be made up from the Reserve Account by the
withdrawal of cash therefrom far that purpase. Any deficiency
created in the Reserve Accaunt by reason af any such withdrawal
shall then be made up from the money from the Revenue of the
Waterwarks Utiiity of the City first available after making
necessary provisions for the required payments into the Princi-
pal and Interest Account.
AlI money in the Reserve Account above provided for not
needed to meet the payments af principal and interest when due
may be kept an depasit in the of�icial bank degasitory of the
Ci�y or in any natianal bank or may be invested in any leqal
investment for City funds maturing not Iater than the interest
or principal and interest payment date when such money will he
' needed, Interest on any such investment or on such bank account '
shall be deposited in and become a part of the Reserve Account '
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until the total required reserve amount shall have been accumu-
lated therein, after which such interest shall be deposited in
the Principal and Interest Account .
In no event shall any money in the Bond Fund or any other
money reasonably expected to be used ta pay principal andlar
interest on the Bonds be invested at a yield which would cause
the Bands to be arbitrage bonds within the meaning of Section
103(c) of the United States Internal Revenue Code of 1954, as
amended, and applicable regulations thereunder .
Funds in the Waterworks Utility Fund of the City {other
than in any bond redemption account) shall be used in the
follawing order of priority:
(7.} To pay Maintenance and Operation Expense;
(2} To pay the interest an the 4utstanding Parity
Bands, the Bonds and any Future Parity Bonds;
(3) To pay the principal o� the Outstanding Parity
Bonds, the Honds and any Future Parity Bonds;
(4 ) Ta make all payments required to be made into
any sinking fund or bond redemptian fund
hereafter created for the payment of F�ture
Parity Bgnds which are Term Bands;
, (5} To make all payments required ta be made into
the Reserve Accounts created to secure the
payment of the Outstanding Parity Bonds, the
Bands and any Future Parity Bonds ;
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� (6} Ta make ail payments requi�ed ta be made inta
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on the 4utstanding Parity Bands, the Bonds and
any Future Parit�r Bands� and
{7) To retire by redemption or purchase in the open
market any out�tanding revenue bonds or revenue
warrants of the City, to make necessary addi-
tions, betterments , improvements and repairs ta
or extensions and replacements af the Waterworks
Utility of the Gity, or far any ather lawful
City purposes.
If the City shall fail ta set aside and pay into the Bond
Fund the amounts set forth above, the holder of any of the
outstanding Bonds may bring an action against the City to compel
such setting aside and gayment .
Section 7 , The Revenue of the Waterworks Utility of the
City is pledged to the payments set forth in Sectian 6, and the
Bands shall constitute a lien and charge upon such revenue p�ior
and superior ta any ather charges whatsoever, excluding Mainte-
nance and Operation Expense, except that the lien and charge
upon such revenue for the Bonds shall be on a parity with the
Iien and charge thereon for the Outstanding Parity Bonds and any
Future Parity Bonds hereafter issued.
Sectian 8 . In the �udgment of the City Council, the Reve-
nue and benefits to be derived from the operation and mainte-
nance of the Waterworks Utility af the City, at the rates ta be
charged for water and sanitary sewage dispasal service on the
entire utility, will be more than suffi�ient to mee� all Main-
tenance and Operation Expense and the debt service requirements
of the Outstanding Parity Bands and to permit the setting aside
in the Bond Fund, out of the revenue of the entire utility. of
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amounts sufficient to pay the interest on the Bonds as such
interest becomes payable and to pay and redeem all of the Bonds
at maturity. The City Council further declares that in creating
the Bond Fund and in fixing the amounts to be paid into the
same, as aforesaid, it has exercised due regard for the Mainte-
nance and Operation Expense and the debt service requirements of
the presently Outstanding Parity Bonds and the City has not
bound and obligated itself to set aside and pay into the Bond
Fund a greater amount or proportion of the revenue of such
utility than in the judgment of the City Council will be avail-
able over and above such Maintenance and Operation Expense and
debt service requirements of the Outstanding Parity Bonds and
that no portion of the Revenue of the Waterworks Utility of the
City has been previously pledged for any other unrefunded
indebtedness, except for the payment of the presently outstand-
ing Outstanding Parity Bonds .
Section 9 . The City covenants and agrees with the owner of
each Bond at any time outstanding as follows :
(a) It will establish, maintain and collect such
rates and charges for water and sanitary sewage dis- �
posal service so long as any Outstanding Parity Bonds
and Bonds are outstanding as will make available for
the payment of the principal of and interest on such
bonds an amount equivalent to at least 1 .3 times the
average annual debt service requirements , both princi-
pal and interest, on the Outstanding Parity Bonds and
the Bonds after deducting costs of maintenance and
operation from the Revenue of the Waterworks Utility
of the City. "Average annual debt service require-
ments" shall mean the aggregate amount of principal
and interest payable in each year over the remaining
life of such Outstanding Parity Bonds and Bonds
divided by the number of maturity years remaining to
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the 2ast maturity of the longest maturing issue, being
the year 2005 .
{b) It will at all times maintain and keep the
Waterworks Utility of the City in good repair, working
order and condition and also will at all times operate
such Utility and the business in connection therewith
in an efficient manner and at a reasonable cost .
(c) It will not sell, lease, mortgage or in any
manner encumber or dispose of all the property of the
Waterworks Utility of the City unless provision is
made for payment into each of the Renton 1977 Water
and Sewer Revenue Refunding Bond Redemption Fund, No .
2 (the "1977 Bonds, Issue No. 2 Bond Fund" ) , the
Renton 1977 Water and Sewer Revenue Refunding Bond
Redemption Fund, No . 3 (the "1977 Bonds , Issue No. 3
Bond Fund" ) , the Renton 1983 Water and Sewer Revenue
Bond Fund (the "1983 Bond Fund" ) and the Bond Fund, of
sums sufficient to pay, respectively, the principal of
and interest on all 1977 Bonds, Issue No . 2, 1977
Bonds , Issue No. 3, 1983 Bonds and the Bonds at any
time outstanding, and that it will not sell, lease,
mortgage, or in any manner encumber or dispose of any
part of the property of the Waterworks Utility of the
City that is used, useful and material to the opera-
tion thereof, unless provision is made for replacement
thereof , or for payment into the 1977 Bonds, Issue No.
2 Bond Fund. the 1977 Bonds, Issue No . 3 Bond Fund,
the 1983 Bond Fund and the Bond Fund of the total
amount of revenue received which shall not be less
than an amount which shall bear the same ratio to the
amount of the outstanding 1977 Bonds, Issue No. 2 ,
1977 Bonds, Issue No . 3 , the 1983 Bonds and Bonds,
respectively, as the revenue available for debt serv-
ice for such outstanding bonds for the twelve months
preceding such sale, lease, encumbrance or disposal
from the portion of the utility sold, leased, encum-
bered or disposed of bears to the revenue available
for debt service for such bonds from the entire util-
ity for the same period . Any such money so paid into
such funds shall be used to retire such outstanding
bonds at the earliest possible date.
(d) It will while any of the Bonds remains
outstanding keep proper and separate accounts and
' records in which complete and separate entries shall
be made of all transactions relating to the Waterworks
Utility of the City, and it will furnish the original
purchaser or purchasers of the Bonds or any subsequent
owner or owners thereof at the written request of such
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owner or owners complete operating and income state-
ments of such utility in reasonable detail occuring
any calendar year not more than ninety days after the
close of such calendar year, and it will grant any
owner or owners of at least twenty-five percent of the
outstanding Bonds the right at all reasonable times to
inspect the entire Waterworks Utility of the City and
all records, accounts and data of the City relating
thereto . Upon request of any owner of any of the
Bonds , it also will furnish to such owner a copy of
the most recently completed audit of the City' s
accounts by the State Auditor of Washington.
(e) It will not furnish water or sanitary sewage
disposal service to any customer whatsoever free of
charqe and promptly will take legal action to enforce
collection of all delinquent accounts .
(f) It will carry the types of insurance on the
Waterworks Utility of the City properties in the
amounts normally carried by private water and sewer
companies engaged in the operation of water and sewer-
age systems, and the cost of such insurance shall be
considered a part of operating and maintaining such
utility. If, as, and when, the United States of
America or some agency thereof shall provide for War
Risk Insurance, the City further agrees to take out
and maintain such insurance on all or such portions of
such utility on which such War Risk Insurance may be
written in an amount or amounts to cover adequately
the value thereof .
(g) It will pay all Maintenance and Operation
Expense and the debt service requirements for the
Outstanding Parity Bonds and the outstanding Bonds,
and otherwise meet the obligations of the City as
herein set forth.
(h) It will not take or permit to be taken on
its behalf any action which would adversely affect the
exemption from federal income taxation of the interest
on the Bonds and will take or require to be taken such
acts as may reasonably be within its ability and as
may from time to time be required under applicable law
to continue the exemption from federal income taxation
of the interest on the Bonds . Without limiting the
generality of the foregoing, and except to the extent
the investment of any Bond proceeds is limited to a
yield required to comply with federal arbitrage regu-
lations, the City will spend the proceeds of the Bonds
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�aith due diligence ta completion af the purpase speci-
fied herein and will not invest or make other use of
the proceeds of the Bonds or of its ather money at any
time during the term of the Bonds, which if such use
had been reasonably expected at the date that the
Bonds are is�ued, would have caused such Bonds to be
arbitrage bonds within the meaning of Section I03(c}
of the United States Internal Revenu� Gode of 1954 , as
amended, and applicable regualtions thereunder .
It has not been notified of any listing or pro-
posed listing by the Internal Revenue Service ta the
effect that it is a bond is�uer whose arbitrage
certifications may not be relied upon.
Section i0. The Bonds shall be printed or lithographed on
qaod bond paper in a form cansistent with the pravisions af this
ardinance, shall be signed by the facsimile signatures of the
Mayor and the Finance Director and shall have a facsimile
repraduction of the City seal printed therean.
4nly such Bands as shall bear thereon a Certificate af
Authenticatian in the following form, manually executed by the
Bond Registrar, shall be valid or obligatory �or any purpose or
entitled to the benefits of this ordinance :
CERTIFICATE (}F AUTHENTICATIflN
This bond is one of the fully registered City of
Renton, Washingtan, Water and Sewer Revenue Bonds,
1985, described in the Bond Ordinance.
WASHINGTON STATE FISCAL AGENCY
Bond Registraz
Hy
Authorized Officer
Such Certificate of Authentication shall be conclusive
evi.dence that the Bands so authenticated have been duly
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executed, authenticated and delivered hereunder and are entitled
to the benefits of this ordinance.
In case either or both of the officers who shall have
executed the Bonds shall cease to be such officer or officers of
the City before the Bonds so signed shall have been authenti-
cated or delivered by the Bond Registrar or issued by the City,
such Bonds nevertheless may be authenticated, delivered and
issued and upon such authentication, delivery and issue, shall
be as binding upon the City as though those whose facsimile
signatures appear on the Bonds had continued to be such officers
of the City. Any Bond may also be signed on behalf of the City
by such persons as at the actual date of execution of such Bond
shall be proper officers of the City authorized to execute Bonds
although on the original date of such Bond such persons were not
such officers of the City.
, Section 11. The Bond Registrar shall keep, or cause to be
kept, at its principal corporate trust office, sufficient books
for the registration and transfer of the Bonds which shall at
all times be open to inspection by the City.
The Bond Registrar shall be responsible for its representa-
tions contained in the Registrar ' s Certificate of Authentication
on the Bonds . The Bond Reqistrar may become the owner of Bonds
with the same rights it would have if it were not the Bond
Registrar and, to the extent permitted by law, may act as
depository for and permit any of its officers or directors to
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act as a member of , or in any other capacity with respect to,
any committee formed to protect the rights of Bond owners .
Section 12 . The Bonds shall be negotiable instruments to
the extent provided by RCW 62A.8-102 and 62A.8-105 .
Section 13 . In the event the City shall issue advance
refunding bonds pursuant to the laws of the State of Washington,
or have money available from any other lawful source, to pay the
principal of and interest on the Bonds or such portion thereof
included in the refunding plan as the same become due and pay-
able and to refund all such then outstanding Bonds and to pay
the costs of refunding, and shall have irrevocably set aside for
and pledged to such payment and refunding, money and/or direct
obligations of the United States of America or other legal
investments sufficient in amount, together with known earned
income from the investment thereof, to make such payments and to
accomplish the refunding as scheduled (hereinafter called the
"trust account" ) and shall irrevocably make provisions for
redemption of such Bonds , then in that case the Bonds shall be
deemed defeased (hereinaf ter collectively called the "defeased
Bonds" ) . Thereafter, all right and interest of the owners of
the defeased Bonds to be so retired or refunded in the covenants
of this ordinance, in the Revenue of the Waterworks Utility of
the City, and in funds and accounts obligated to the payment of
such Bonds shall cease and become void, except such owners shall
have the right to receive payment of the principal of and
interest on the defeased Bonds from the trust account and. in
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the event the funds in the trust account are not available far
such payment, shall have the residual right ta �eceive payment
of the principal of and interest an the defeased Bonds from the
Revenue of the Waterworks Utility of the City without any
priority of lien ar charge against such revenue or covenants j
with resgect the�eta exeept to b� pa3d therefrom.
After the establishing and full funding of such trust
accoun� , the City may then apply any maney in any other fund or
account established far the payment ar redemption of the
defeased Bonds to any lawfu2 purposes as it shall determine,
sub�ect only ta the rights c�f the owners of any other bonds then
outst�anding.
In the event the refunding plan provides that the Bands
being refunded ar the refunding bonds to be issued be secured by
cash andlor direct obligatit�ns af the United States of Arnerica
or other legal investment� pending the prior redemption of those
Bonds being re£unded and if such refunding plan also pravides
that certain cash andlc�r direct abligatians of the United States
of Amerlaa r�r s�ther Iegal ir�vestments are i�revocably pledged
for the prior redemptlon of those Bonds included in the refund-
ing plan, then only the debt service on the Sonds which are not
defeased Bc�nds and the refunding bonds, the payment of which is
nat so secured by the refunding plan, shall be included in the
computation of coveraq� for issuance of Future Parity Bonds and
the annual computatlon of coverage for determining compliance
with the rate covenants .
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Section 14 . The City reserves the right to issue Future
Parity Bonds which will constitute a lien and charge upon the
Revenue of the Waterworks Utility of the City on a parity with
the Outstanding Parity Bonds , and the Bonds , provided the condi-
tions set forth in Section 15 of Ordinance No . 1450, as modified
by the provisions set forth in Section 13 of Ordinance No. 3169
and Section 12 of Ordinance No . 3720, are met and complied with
at the time of the issuance of such Future Parity Bonds, which
sections are by this reference incorporated herein and made a
part hereof and shall continue to be applicable even though the
City of Renton Water and Sewer Refunding and Improvement Bonds ,
1953, have been paid and retired .
Section 15. The Bonds shall be sold for cash at public
sale for not more than a 2� discount plus accrued interest to
the date of delivery of and payment for the Bonds .
The City Clerk is authorized to give notice calling for
bids to purchase the Bonds by publishing no later than March 15,
1985, a short abbreviated form of such notice once in The
Seattle Daily Journal of Commerce and Northwest Construction
Record of Seattle, Washington. Such notice shall specify that
sealed bids for the purchase of the Bonds shall be received by
the City Clerk in her office in the City Hall on March 25, 1985 ,
up to 11:00 a .m. , local time, at which time all bids will be
publicly opened and read in the office of the Director of
Finance and an award made by the City Council at its regular
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meeting to be held in the City Council Chambers commencing at �
8 :00 p.m. , local time, on the same date.
Bids shall be invited for the purchase of the Bonds with
fixed maturities in accordance with the schedule specified in
Section 4 hereof .
The notice shall specify the maximum effective rate of
interest the Bonds shall bear , namely, 12$ per annum, and shall
require bidders to submit a bid specifying:
(a) The lowest rate or rates of interest and
discount below par at which the bidder will purchase
the Bonds; or
(b) The lowest rate or rates of interest at
which the bidder will purchase the Bonds at par .
No bid offering to purchase the Bonds at a discount of more
than 2$ plus accrued interest or offering to purchase less than
the entire issue will be considered. The purchaser must pay
accrued interest to date of delivery of the Bonds .
Interest rates shall be in multiples of 1/8 or 1/20 of 1$,
or both. No more than one rate of interest may be fixed for any
one maturity. The maximum differential between the lowest and
highest rates named in any bid shall not exceed 4$.
For the purpose of comparing the bids only, the interest
rates bid being controlling, each bid shall state the total
interest cost over the life of the Bonds and the net effective
interest rate of the bid, taking into account the discount, if
any, bid.
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The Bonds shall be sold to the bidder making the best bid
based an the Ic�west net effective interest rate, sub�ect to the
right c�f the City Council to re�ect any and all bid� and to
readvertise the Bonds for sale in the manner provided by law.
The City further reserves the right to waive any irregularity in
any bid ar in the bidding process, except that any bid presented
after the time specified far �he receipt of bids will not be
received, and any bid not accompanied by the required bid
deposit at the time of opening will not be read or considered .
AlI hids shall be sealed and shal2 be accompanied by a
deposit af �65,OQ0. The deposit shall be either cash or by
certified or cashier ' � check made paya�le to the City of Renton
and sha11. be returned promptly i£ the bid is not accepted. The
City reserves the right to invest the good fai�h depa�it of the
purchaser pending the payment for the Bonds . The purchaser
shall not be credited for such earning�. Tf the Bands are ready
for delivery and the successful bidder sha1l fail or neglect ta
campiete the purchase af the Bonds within forty days following
�he acceptance of its bid, the amflunt af its deposit shall be
forfei�.ed to the City and in that even� the City may accept the
bid of the one making the next best bid. If there be two or
more equa2 bids and such hit�s are the best bids received, the
City Cauncil shall determine b�r lot which bid shall be
accepted, The Bonds will be deliuered ta the successful bidder
upnn payment of the purchase priGe plus accrued interest to the
date of delivery, less th� amount af the gaod faith depasit, at
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the office af the City Clerk or in Seattle, Washingtan, at the �
City's expense. or at such other place upan which the Director �
�
of Finance and the successful bidder may mutually agree at the !
purchaser ' s expense. Settlement shall be made in federal funds
immediately available at the time of delivery of the Bonds . A
no-litigation certificate in the usual farm wil2 be inciuded in
the closing papers .
CUSIP numbers will be printed on the Bonds, if requested in
the bid of the successful bidder, but neither failure to print
such numbers on any Band nar errar with respect thereto shall
canstitute cause for a failure or refusal by the purchaser
thereof to accept delivery of and pay for the Bonds in accord-
ance with the terms of the purchase contract . All expenses in
relation ta the printing of CUSiP numbers an the Bonds shall be
paid by the City, but the f ee af the CUSIP Service Bureau for
the assignment af those numbers shall be the responsibility af
and shall be paid by the purchaser .
If, prior to the del�.very af the Bonds , the interest
receivable by the owners thereaf shall became taxable, directly
ar indirectly, by the terms of any federal income tax law, the
successf�ul bidder may at its option be relieved of its obliga-
tian to purchase the Bands , and in such case the deposit accam-
panying its bid will be returned, withaut interest ,
The natice of bond sale shall provide that the City will
cause the Bonds to be printed or 13thographed and signed and
will furnish the approving legal opinian of Roberts & Shefelman,
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bond counsel of Seattle, Washington, covering the Bands without
cast to the purchaser, the apinion a2sa being printed on each �
Hond. Bond counsel sha21 not be required to review nor expres�
any opinion concerning the completeness or accuracy of any
official statement, offering circular or other sales material
issued or used in cannectian with the Bands. and bond caunsel ' s
apinion shall so state. Such notice alsa sha11 provide that
further infarmation regarding the details of the Bonds may be
received upon request made to the City Clerk or to Seattle-
Northwest Securities Corporatian, 3700 Seafirst Fifth Avenue
Plaza, Seattle, Washinqton, the City" s financial eonsultant .
Section 16 . There has been created in the office of the
City Director of Finance a special fund of the City known and
designated as the Water and Sewer Construction Fund, 1983 (the
"Construction Fund" } . The principal proceeds recefved from the
issuance and sale of the Honds shall be depasited in the Con-
struction Fund and shall be used to pay the costs of carrying
aut the system or plan of addi�.ions to and betterments and
� extens3ans af the Waterwarks Utility of the City specified,
i
� adopted and ordered to be carried aut by this ordinance and the
expenses incurred in the issuance of the Bonds . Pending the
expenditure of such principal praceeds out of the Constructian
Fund, the money ifl such fund may be invested in any legal
investment and the investment income may be retained in such
fund and used for the purposes of such fund . The accrued inter-
est received, if any, shall be deposited in the Bond Fund.
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Section 17 . All actions taken consistent with the provi-
sions of this ordinance before the effective date of this
ordinance are ratified, confirmed and approved .
PASSED BY THE CITY COUNCIL, this ilth day of March, 1985 .
�.��..� �
MAXINE MOTOR, City Clerk !
APPROVED BY THE MAYOR, this ilth day of March, 1985 .
�n.ba��►, S�i,�,npioc.'6�
BARBARA Y:' SHINPOCH, Mayor
Approved as to Form:
C,r(�IJG-r,�^�--
City`�Attorney U
Date of Publication: March 15 , 1985
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EXHIBIT A
WATER REHABILITATION PROJECTS (1985)
Replacement of 12" Steel Watermain in Union Avenue N.E. from
N.E . 17th Street to S .E . 99th Street. Proposed Street Project .
8" D. I . Watermain in N.E . 6th Street from Monroe Avenue N.E . to
Union Avenue N.E . (In conjunction with Street Project) .
SANITARY SEWER REHABILITATION (1985)
Sunset Pump Station Sewer Repair Phase II - Sewer TV, Joint and
Manhole Groutinq
Glenco Division II
, Cedar River Park Sewer Repair - Sewer TV, Joint and Manhole
Groutinq
To protect City water supply wells from possible sewaqe
leaks
Lake Washincrton Sewer Investiaration and Desiqn
Investigate the submerged City sewer off of Kennydale, in
Lake Washington for stability and design improvements to
flush system.
Sewer Replacement (1985a - Miscellaneous
A. Wells Ave. South - From South 5th St . to South 4th St .
B. Alley between Meadow Ave. North and Factory Ave. North
from North 2nd St . to North 3rd St .
C. Powell Ave. S .W. - From Langston Road to S .W. 3rd
Place.
MAJOR CAPITAL PROJECTS (1985 )
Well No . 9 Pump House
West Hill Booster Pump Station
Installation of 12" D. I . Watermain in Grady Way at Springbrook ,
Creek in conjunction with street pro�ects
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Installation of 12" D. I . Watermain in Grant Avenue South from
South lOth St . to South 7th St . and South 7th St. frota Grant
Avenue South to Renton Avenue South
Installation of 8" D. I . Watermain and transfer of Watermain from �I
Wd #58 at the Plat of Ponderosa Estates, near Rolling Hills
Reservoir
Construction of Pressure Reducing Station at South 16th St . and
Benson Road South.
Design of South Talbot Hill Reservoir
Reconstruction of Telemetry System
Installation of 3" Conduit and Wire from New City Shops to City
Hall
Installation of 12" Waterma3n in Lind Avenue South from South
16th St . to Grady Way South in conjunction with WSDOT bridge
widening
Installation of 2 PRV Stations at South 20th St . and Shattuck
Avenue South
Purchase of 2 , 100 L.F. of Installed 8" Watermain and
miscellaneous services from W.D. #14 in conjunction with West
, Hills Project
Miscellaneous pump adjustments and additions
I • North
12 Watermain i
nstallation in Wells Avenue North from
Riverside Drive to North side of North lst St . (Replacement of
services and hydrants on North lst St. ) in conjunction with
street overlay project
�
ion for P-1
P-1 Channel - S .W. 7th St . 12 Watermain relocat
Channel excavation
Purchase of Squire Property at Springbrook Springs (final
payment)
Purchase of Covenant Church property for South Talbot Hill
Reservoir
Purchase of future site of Black River Quarry Reservoir
' Installation of 24" transmission main in South 2nd Street .
West Hill Reservoir
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SANITARY SEWER MAJOR CAPITAL (1985)
Honey Creek Interceptor Sewer
' New 12" sewer, pump station in Honey Creek from Devil ' s
Elbow to Sunset Blvd . N.E . and Union Ave . N.E . , together
with downtstream sewer system revisions
CBD Southwest 24 " Trunk Sewer Replacement - Phase II
Replace 24 " South CBD sewer in Shattuck Ave. S . alignment
from Tobin Ave. South to South 2nd St . through High
School . Coordinate with upcoming WSDOT overlay of South
2nd St . (SR-900)
East Kennydale Interceptor
New 12 " sanitary sewer from N.E. 27th St . to Azalea Lane
Pump Station. (In conjunction with Aberdeen Ave. N.E .
Forward Thrust Project)
Duvall Ave . N.E . Sewer Extension (Or North lst St . Sewer
Replacement CBD-Na
Extend 8" sewers to eliminate Eastwood Park Pump Station
(eliminate inadequate pump station by gravity flow to the
south)
Renton Avenue Sewer Extension
Rebuild existing Tobin Ave. and Victoria Place sewer and
Rainier Ave. South Crossing (in conjunction with WSDOT
Rainier Ave. South overlay)
Sewer Replacement - Shattuck Ave . South Interceptor Phase I CBD I
(SE)
Replace existing 8" , 10" and 12" sewers in Shattuck Ave .
South from South 4th St . to South 7th St .
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