The URL can be used to link to this page

Home My WebLink About1994-035 General Obligation Bonds - Yakima Fire Department • ORDINANCE NO. 94- 35 AN ORDINANCE of the City of Yakima, Washington, providing for the submission to the qualified electors of the City at a special election to be held therein on November 8, 1994 of the proposition of whether or not the City should issue its general obligation bonds in the aggregate principal amount of $3,700,000, for the purposes of making certain improvements to the facilities of the Yakima Fire Department. WHEREAS, it is deemed necessary and advisable by the City Council of the City of Yakima, Washington (the "City "), that the City address needed improvements and enhancements to Fire Department facilities; and WHEREAS, in order to provide funds necessary to pay the cost thereof, it is deemed necessary and advisable that the City issue and sell its unlimited tax levy • general obligation bonds in the aggregate principal amount of $3,700,000; and WHEREAS, the Constitution and laws of the State of Washington provide that the question of whether or not the City may issue such bonds for such purposes must be submitted to the qualified electors of the City for their ratification or rejection, now, therefore, BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. Findings. It is hereby found and declared that the welfare of the inhabitants of the City requires that the City authorize and carry out the project set forth in Section 2 hereof (herein called the "Project "). Section Z. Authorization of Project. The following project of improvements to the Fire Department facilities of the City is hereby authorized and ordered to be carried out: A. To construct a new Fire Training Center, B. To purchase an aerial truck; To make improvements and renovations to Fire Station restroom facilities; D. To acquire Fire Station engine exhaust removal systems; E. To construct and equip a maintenance and electronics shop facility; and F. If excess funds are available, to make other capital improvements to the facilities of the Yakima Fire Department. • ! . • Section 3. Authorization of the Bonds. To provide funds to pay part of the cost of acquiring, constructing, and equipping the Project, including all costs of engineering, architectural, planning, financial, legal, and other services lawfully incurred incident thereto, and to the issuance of bonds therefor, the City shall issue its general obligation bonds in the aggregate principal amount of not to exceed $3,700,000 (the "Bonds "). None of the proceeds of said bonds shall be used for the replacement of equipment or for other than a capital purpose. The Council shall, consistent with the purposes and provisions of this ordinance, approve the plans and specifications for construction of the Project, and the Project shall be accomplished in such stages as may be determined by the Council. If the Council shall determine that it has become impractical to substantially accomplish part or all of the Project by reason of changed conditions or increased costs, the Council may make such changes in the size, scope or details of the Project as it shall deem reasonable or, if for such reasons the Council deems it in the best interests of the City, the Council shall not be required to accomplish the entire • Project and may apply unexpended bond proceeds to the redemption of the bonds. Section 4. Details of Bonds. The bonds, issued as provided for in Section 3 hereof, shall be sold in such amounts and at such time or times as deemed necessary and advisable by the Council and as permitted by law and by this ordinance, shall bear interest at a rate or rates not to exceed the maximum rate permitted by law at the time the bonds are sold, and shall mature in such amounts and at such times within a maximum term of twenty r(20) years from date of issue but may mature at an earlier date or dates, as authorized by the Council and as provided by law. Said bonds shall be obligations of the City, and, unless paid from other sources, both principal thereof and interest thereon shall be payable out of annual tax levies to be made upon all the taxable property within the City in excess of constitutional and statutory limitations. The exact date, form, terms, and maturities of said bonds shall be as hereafter fixed by ordinance of the City Council. After voter approval of the incurring of general indebtedness for such purpose, and in anticipation of the issuance of the general obligation bonds, the Council may issue short term obligations as authorized and provided by RCW Chapter 39.50. $ ection 5. E1 ction. It is hereby found and declared that an emergency exists requiring the submission to the qualified electors of the City of the proposition of whether or not the City shall issue said general obligation bonds for their ratification or rejection at a special election to be held on November 8, 1994. • The Yakima County Auditor, as ex officio supervisor of elections, is hereby requested to call and conduct said special election to be held within the City on said date and to submit to the qualified electors of the City the proposition hereinafter set forth. The City Clerk is hereby authorized and directed to certify said proposition to said Auditor in the following form: CITY OF YAKIMA PROPOSITION NO. FIRE PROTECTION FACILITIES BONDS, $3,700,000 For improvements to the facilities of the Yakima Fire Department including new training center, aerial truck, and other facilities, shall the City of Yakima issue .$3,700,000 in general obligation bonds, maturing within a maximum term of twenty years from the date of issue, and shall annual tax levies in excess of regular property tax levies - , be authorized to repay such bonds, as provided in City Ordinance # ? .Y ' • Bonds, Yes �--� Bonds, No The City Clerk is hereby authorized and directed to deliver a certified copy of this ordinance to the Yakima County Auditor. Section 6. This ordinance shall be in full force and effect 30 days after its passage, approval, and publication as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this 5th day of July 1994. CQ S--,V 5 -t-A-Al ATTEST: Mayor 4 Depu y City Clerk Publication Date: 7 - - 94 Effective Date: 8 • • NOTICE OF SPECIAL ELECTION CITY OF YAKIMA, WASHINGTON NOVEMBER 8, 1994 NOTICE IS HEREBY GIVEN that on Tuesday, November 8, 1994, a special election will be held in the above -named City, for the submission to the qualified electors of said City of the following proposition: CITY OF YAKIMA PROPOSITION NO. FIRE PROTECTION FACILITIES BONDS, $3,700,000 For improvements to the facilities of the Yakima Fire Department including new training center, aerial truck, and other facilities, shall the City of Yakima issue $3,700,000 in general obligation bonds, maturing within a maximum term of twenty years from the date of issue, and shall annual tax levies in excess of regular property tax levies • be authorized to repay such bonds, as provided in City Ordinance # ? Bonds, Yes L--� Bonds, No •L—/ The polling places for all precincts wholly or partially within the City shall be as follows: precincts Polling Places (SEE ATTACHED) Said polling places shall be open from 7:00 A.M. to 8:00 P.M. Yakima County Auditor • (1.)w.isc /fir• •l.ction notic..ry SUMMARY OF FIRE BOND ISSUE PROPOSAL Alteration to Station #1 $ 44,828 Maintenance and Shop Facility 488,715 Utilities, Water and Sewer for Shop Facility 45,000 New Fire Station #3 986,174 Traffic Light Controls for Station #3 40,000 Alteration to Fire Station #5 36,405 Training Tower 761,165 Burn Room Controls 139,939 • Multi- Purpose Room, Station #5 451,449 Site Development, Station #5 286,325 Property Acquisition Cost, Station #5 400,000 Exhaust Systems for all Fire Stations 300,000 Aerial Truck 600, Start -Up Costs 70,000(1) Bond Issuance Costs 50,000(2) Total Cost $4,700,000 Local Existing Dedicated EMS Resources ( 1 , 000 , 000 ) Net Local Bond Amount $3,700,000 1 (1) Originally estimated at $45,000 and increased to $70,000 for start-up contingencies for Station #3. (2) Originally estimated at S75,000 and reduced to $50,000 to more accurately reflect estimated bond • issuance costs. Office of the City Manager