ORD 2001-36 OPEN SPACE $8M BOND LEVYCITY OF BAINBRIDGE ISLAND, WASHINGTON
ORDINANCE NO. 2001-36
AN ORDINANCE of the City of Bainbridge Island, Washington, providing
for the submission to the voters of the City at a special election to be held therein on
November 6, 2001, in conjunction with the State general election to be held on the
same date, of a proposition authorizing the City to issue its general obligation bonds
in the principal amount of no more than $8,000,000, to pay costs of acquiring or
otherwise preserving forested areas, open space, wildlife habitat, farms and
agricultural lands and creating new trails and passive parks, the principal of and
interest on such bonds to be payable from annual property tax levies to be made in
excess of regular property tax levies.
WHEREAS, the City of Bainbridge Island, Washington (the "City"), is in urgent need of
acquiring and preserving forested areas, open space, wildlife habitat (including without limitation
environmentally fragile areas, land along streams and ponds and wetlands) and farms and
agricultural lands and creating new trails and passive parks (not including sports facilities and sports
fields) (the "Project") and the City does not have sufficient funds available for that purpose to meet
the estimated cost of those improvements; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON,
DO ORDAIN AS FOLLOWS:
Section 1. It is found and declared that an emergency exists requiting the calling of a
special election and the Auditor of Kitsap County, Washington, as ex officio Supervisor of Elections
(the "Auditor"), is requested to find and declare the existence of an emergency. The Auditor further
is requested to call and conduct a special election in the City, in the manner provided by law, to be
held therein on November 6, 2001, in conjunction with the State general election to be held on the
same date, for the purpose of submitting to the voters of the City, for their approval or rejection, the
question of whether or not general obligation bonds of the City shall be issued in the principal
amount of no more than $8,000,000 (or such lesser maximum amount as may be legally issued
under the laws goveming the limitation of indebtedness), the proceeds of which shall be expended
to pay costs of acquiring and preserving forested areas, open space, wildlife habitat (including
without limitation environmentally fragile areas, land along streams and ponds and wetlands) and
farms and agricultural lands and creating new trails and passive parks (not including sports facilities
and sports fields) (the "Project"), and whether or not excess property taxes shall be levied to repay
such bonds.
If such proposition is approved by the requisite number of voters, the City shall be
authorized to issue the bonds consistent with this ordinance, to spend the bond funds to pay the
costs of the Project, and levy excess property taxes to pay and retire the bonds. The Project may
include, and the bond funds may be applied in whole or part toward, any one or more of the
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follo~ving, without limitation: (a) the acquisition and preservation of land in the City by any
lawful means, including, among other things, fee simple purchase by the City, leases to or from
the City, facilitation of land donations to the City, bargain sales to the City, land exchanges
between the City and third parties, purchases of development rights by the City, purchases or
receipt of donated covenants or conservation easements (conservation futures) in favor of or to
be held by the City or other qualified entities and partnership, co-ownership or other affiliation
with private, governmental or quasi-governmental entities; (b) procurement of private or
institutional grants to supplement and be used in the same manner as the bond funds, in which
case the bond funds may be used to satisfy any fund matching requirements of such grant
makers; (c) the reasonable costs of services related to the Project, including, without limitation,
appraisal, engineering, surveying, legal, title and other professional or consulting services,
inspections and testing, and administrative expenses relating to bond issuance and the initial
acquisition or other protection of included real property, but excluding maintenance costs and
expenditures for capital improvement to such property; and (d) reasonable administrative
expenses. Nothing herein shall prevent the City from selling or transferring rights in property
acquired with proceeds of the bonds while retaining other rights in that property consistent with the
purposes of this ordinance. The proceeds of the bonds may be used to pay costs related to the sale,
issuance and delivery of the bonds.
The funds derived fi.om the sale of the bonds shall be used, either with or without additional
funds now available or hereafter available to the City, for capital purposes only, which shall not
include the replacement of equipment. The Project shall be acquired insofar as is practicable with
the capital funds available and in such order of time and with such specifications as shall be deemed
advisable by the City Council, after considering any recommendations of any citizens' advisory
commission created for that purpose. At least 93 percent of the total proceeds of the bonds shall be
expended for the acquisition of property and property rights consistent with the previous paragraph.
Section 2. The bonds authorized may be issued as a single issue, as a part of a combined
issue with other authorized bonds, or in more than one series. The bonds shall be fully registered
bonds; shall bear interest payable as permitted by law; shall mature within twenty years fi.om the
date of issue (the life of the Project being at least twenty years), and may be such lesser time as
fixed by the City Council; shall be paid by annual property tax levies sufficient in amount to pay
both principal and interest when due, which annual property tax levies shall be made in excess of
regular property tax levies without limitation as to rate or amount but only in amounts sufficient to
meet such payments of principal and interest as they come due; and shall be issued and sold in such
manner, at such times and in such amounts as shall be required for the purpose for which such
bonds are to be issued. The exact date, form, terms, option of prior redemption, price, interest rate or
rates and maturities of the bonds shall be hereafter fixed by ordinance of the City Council. Pending
the issuance of the bonds, the City may issue short-term obligations pursuant to chapter 39.50
RCW.
The City Council declares that to the extent, prior to the date bonds or other short-term
obligations are issued to finance the Project, the City shall make capital expenditures for the Project
from funds that are not (and are not reasonably expected to be) reserved, allocated on a long-term
basis or otherwise set aside by the City under its existing and reasonably foreseeable budgetaW and
financial circumstances to finance the Project, those capital expenditures are intended to be
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reimbursed out of proceeds of the bonds or other short-term obligations issued in an amount not to'
exceed the principal amount of the bonds provided by this ordinance.
Section 3. The ballot title for the proposition to be submitted shall be in substantially the
following form:
PROPOSITION
CITY OF BAINBRIDGE ISLAND
OPEN SPACE BONDS - $8,000,000
The City Council of the City of Bainbridge Island passed
Ordinance No. 2001-36 concerning a proposition relating to open
space and parks. If approved, this ballot proposition would
authorize the City to acquire and preserve forested areas, open
space, wildlife habitat and farms and agricultural lands and create
new trails and passive parks after considering citizen commission
recommendations, issue no more than $8,000,000 of general
obligation bonds maturing within twenty years, and levy annual
excess property taxes to pay and retire such bonds, all as provided
in Ordinance No. 2001-36. Should this proposition be:
APPROVED ..................................... []
REJECTED ...................................... []
Section 4. The City Clerk of the City is directed (a) to certify to the Auditor a copy of
this ordinance showing its passage by the City Council at least 45 days prior to the date of such
special election, and (b) to perform such other duties as are necessary or required by law to the
end that the question of whether or not bonds shall be issued and excess taxes necessary to pay
and retire the bonds be levied as herein provided shall be submitted to the voters of the City at
the aforesaid special election.
PASSED by the City Council and APPROVED by the Mayor of the City of Bainbridge
Island, Washington, at a regular open public meeting thereof, this 12th day of September, 2001.
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ATTEST:
MayIor TM '
C(ty Clerk
APPROVED AS TO FORM:
City Attomey
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CERTIFICATION
I, the undersigned, City Clerk of the City of Bainbridge Island, Washington (the "City"),
hereby certify as follows:
1. The attached copy of Ordinance No. 2001-36 (the "Ordinance") is a full, true and
correct copy of an ordinance duly passed at a regular meeting of the City Council of the City
held at the regular meeting place thereof on September 12, 2001, as that ordinance appears on the
minute book of the City; and the Ordinance will be in full force and effect five days after the
publication of its summary in the City's official newspaper; and
2. A quorum of the members of the City Council was present throughout the meeting
and a majority of those members present voted in the proper manner for the passage of the
Ordinance.
IN WITNESS WHEREOF, I have hereunto set my hand this 14th day of September,
2001.
CITY OF BAINBRIDGE ISLAND,
WASHINGTON
~City Clerk