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ORD 98-13 (2) IMPROVING A PORTION OF COMMODORE LN BY INSTALLATION OF A WATER SYSTEMORDINANCE NO. 98-13 AN ORDINANCE of the City of Bainbridge Island, Washington, ordering the improvement of a portion of Commodore Lane by the installation of a water system pursuant to property owners' petition therefore establishing a Local Improvement District No. 19 and ordering the carrying out of the proposed improvement providing that payment for the improvement be made by special assessments upon the property in the District payable by the mode of "payment by bonds", and providing for the issuance and sale of local improvement district warrants redeemable in cash or other short-term financing and local improvement district bonds. WHEREAS, a petition for the creation of a local improvement district to provide for the installation of a water system in a portion of Commodore Lane, all costs thereof to be borne by the property included in the local improvement district and benefited by those improvements, was filed with the City Clerk; and WHEREAS, the City' s Consulting Engineer has caused an estimate to be made at the cost and expense of the proposed improvement and certified that estimate to the City Council, together with all papers and information in the City Consulting Engineer' s possession touching the proposed improvement, a description of the boundaries of the proposed local improvement district and a statement of what portion of the cost and expense of the improvements should be borne by the property within the proposed improvement district; and WHEREAS, that estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land and other property which will be specially benefited by the proposed improvement and the estimated cost and expense thereof to be borne by each lot, tract and parcel of land or other property; and WHEREAS, the City Council, by Resolution No. 984)7, adopted March 5, 1998, fixed April 6, 1998, at 4:30 p.m., in the Bainbfidge Island Commons multi-purpose room, 402 B'June Drive SW, Bainbfidge Island, Washington, before the Public Works Committee, as the time and place for heating all matters relating to the proposed improvement and all objections thereto and for determining the method of payment for the improvements; and WHEREAS, due notice of the above hearing was given in the manner provided by Resolution No. 98-07, and the hearing was held by the Public Works Committee on the date and at the time above mentioned, and all persons appearing at such hearing and wishing to be heard were heard and all objections were considered by the Committee; and WHEREAS, the Public Works Committee has recommended constructing the improvements and creating the local improvement district; and WHEREAS, the City Council has determined it to be in the best interests of the City that the improvement as hereinafter described be carried out and that a local improvement district be created in connection therewith; now, therefore, THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON, DO ORDAIN as follows: Section 1. The Public Works Director has examined such petition and has certified it to be sufficient and to have been signed by the owners of 55.43% of the area included in the proposed district. Section 2. The City Council orders the construction and installation of a water distribution system to serve the lots in the Local Improvement District created in Section 3, consisting generally of water lines and appurtenances in Commodore Lane, Jeanette Place, Whited Place, Arthur Place, Elizabeth Place and Kings Place. All of the foregoing shall be in accordance with the plans and specifications therefore prepared by the City' s Consulting Engineer, and may be modified by the City Council as long as such modification does not affect the purpose of the improvement. Section 3. There is created and established a local improvement district to be called Local Improvement District No. 19 the City (the "District"), the boundaries or territorial extent of the District being described in Exhibit A attached hereto and by this reference incorporated herein. Section 4. The total estimated cost and expense of the improvement is declared to be $234,638. The entire cost and expense shall be borne by and assessed against the property specially benefited by such improvement included in the District which embraces as nearly as practicable all property specially benefited by such improvement. Section 5. In accordance with the provisions of RCW 35.44.047, the City may use any method or combination of methods to compute assessments which may be deemed more fairly to reflect the special benefits to the properties being assessed. Section 6. No property, any pertion of which is outside of the District, may connect to the improvement unless either that property shall have been subject to the special assessments in the assessment roll for the District or the owners of the property shall have paid prior to such connection a charge in lieu of assessment which shall be at least the equivalent of the assessments which would have been applied to the property had it been included in the District. Section 7. Local improvement district warrants may be issued in payment of the cost and expense of the improvement herein ordered to be assessed, such warrants to be paid out of the Local Improvement Fund. District No. 19 hereinafter created and referred to as the Local Improvement Fund, and, until the bonds referred to in this section are issued and delivered to the purchaser thereof, to bear interest from the date thereof at a rate to be established hereafter by the Finance Director, as issuing officer, and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued, such interest-bearing warrants to be hereafter referred to as "revenue warrants" in the alternative, the City hereafter may provide by ordinance for the issuance of other short-term obligations pursuant to Chapter 39.50 RCW. Section 8. The City is authorized to issue local improvement district bonds for the District which shall bear interest at a rate and to be payable on or before a date to be hereafter fixed by ordinance. The bonds shall be issued in exchange for and/or in redemption of any and all revenue warrants issued hereunder or other short-term obligations hereafter authorized and not redeemed in cash within twenty days after the expiration of the thirty-day period for the cash payment of assessments without interest on the assessment roll for the District. The bonds shall be redeemed by the collection of special assessments to be levied and assessed against the property within the District payable in annual installments, with interest at a rate to be hereafter fixed by ordinance under the mode of "payment by bonds," as defined by law and the ordinances of the City. The exact form, amount, date, interest rate and denominations of such bonds shall be hereafter fixed by ordinance of the City Council. Such bonds shall be sold in such manner as the City Council shall hereafter determine. Section 9. In all cases where the work necessary to be done in connection with the making of such improvement is carried out pursuant to contract upon competitive bids (and the City shall have and reserves the right to reject any and all bids), the call for bids shall include a statement that payment for such work will be made in cash warrants drawn upon the Local Improvement Fund. Section 10. There is created and established in the office of the Finance Director for the District the Local Improvement Fund, into which fund shall be deposited the proceeds from the sale of revenue warrants or other short-term obligations drawn against the fund which may be issued and sold by the City and collections pertaining to assessments, and against which fund shall be issued cash warrants to the contractor or contractors in payment for the work to be done by them in connection with the improvement and cash warrants in payment for all other items of expense in connection with the improvement. Section 11. Within 15 days of the passage of this ordinance there shall be filed with the City Clerk the title of the improvement and District number, as copy of the diagram or print showing the boundaries of the District and the preliminary assessment roll or abstract of such roll showing thereon the lots, tracts and parcels of land that will be specially benefited thereby and the estimated cost and expense of such improvement to be borne by each lot, tract or parcel of land. The City Clerk shall immediately post the proposed assessment roll upon her index of local improvement assessments against the properties affected by the local improvement. PASSED by the City Council this 7th day of May, 1998. APPROVED by the Mayor this 8th day of May, 1998. APPROVED AS TO FORM: ~T/ON, Mayor ROD P. KASEGUMA, City Attorney ZU~S~p. KASPER, City Clerk FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL: PUBLISHED: EFFECTIVE DATE: ORDINANCE NO. May 1, 1998 May 7, 1998 Mayl3, 1998 May 18, 1998 98-13 I, Susan P. Kasper, City Clerk of the City of Bainbridge Island, Washington, certify that the attached copy of Ordinance No. 98-13 is a true and correct copy of the original ordinance passed on the 7~--~ day of ///4/)/ , 19~ as that ordinance appears on the Minute Book of the City. DATED this 2{-;rz'/day of ,199Z CitCler7/~k FILE - wab\agenda\commodore.wtr. 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