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Home My WebLink About1997-0109 Special Mtg PACKET Council Meeting Pkt. BARBARA CHRISTENSEN CITY RECORDER AGENDA FOR THE SPECIAL MEETING ASHLAND CITY COUNCIL January 9, 1997 I. PLEDGE OF ALLEGIANCE: 1:00 p.m., Civic Center Council Chambers. y J, II. ROLL CALL III. ORDINANCES, RESOLUTIONS AND CONTRACTS: }� A RESOLUTION OF THE CITY OF ASHLAND, JACKSON COUNTY, OREGON, CALLING A SPECIAL ELECTION TO SUBMIT TO THE VOTERS THE QUESTION OF CONTRACTING A GENERAL OBLIGATION BONDED INDEBTEDNESS IN THE AMOUNT OF Y $2,600,000 TO FINANCE REPAIR AND RECONSTRUCTION OF THE IIUC� CITY'S WATER, SEWER, ELECTRICAL, STORM SEWER AND J TRANSPORTATION SYSTEMS INCLUDING THE WATER AND Y WASTEWATER TREATMENT PLANTS, CITY STREETS, BRIDGES AND / SIDEWALKS; WATERSHED ROADS AND BRIDGES; REPAIR AND RECONSTRUCTION OF STREAMBANKS AND CHANNELS AND LITHIA Toy PARK; AND REMOVAL OF PRESENT AND CONTINUOUS ACCUMULATIONS OF SILT IN THE CITY'S WATER RESERVOIR; ALL (100%) OF WHICH FUNDING IS REQUIRED AS A RESULT OF THE ( I JANUARY 1997 FLOOD. p L� 2. A RESOLUTION OF THE CITY OF ASHLAND, JACKSON COUNTY, F� OREGON, DECLARING OFFICIAL INTENT TO ISSUE REIMBURSEMENT / ^ 15 BONDS TO REIMBURSE EXPENDITURES INCURRED FOR FLOOD I�C`�- ' DAMAGE i12c?e�� CIC I ADJOURNMENT /be' t Lp >7 �/ RESOLUTION NO. 97- A RESOLUTION OF THE CITY OF ASHLAND, JACKSON COUNTY, OREGON, CALLING A SPECIAL ELECTION TO SUBMIT TO THE VOTERS THE QUESTION OF CONTRACTING A GENERAL OBLIGATION BONDED INDEBTEDNESS IN THE AMOUNT OF $2,600,000 TO FINANCE MITIGATION, REPAIR AND RECONSTRUCTION OF THE CITY'S WATER, WASTEWATER, PARKS, ELECTRICAL, STORM DRAINS AND TRANSPORTATION SYSTEMS INCLUDING THE WATER AND WASTEWATER TREATMENT PLANTS, CITY STREETS, BRIDGES AND SIDEWALKS; WATERSHED ROADS AND BRIDGES; MITIGATION, REPAIR AND RECONSTRUCTION OF STREAMBANKS AND CHANNELS; AND REMOVAL OF PRESENT AND CONTINUOUS ACCUMULATIONS OF SILT IN THE CITY'S WATER RESERVOIR; ALL (100%) OF WHICH FUNDING IS REQUIRED AS A RESULT OF THE JANUARY 1997 FLOOD. RECITALS: A. The City Council of City of Ashland, Jackson County, Oregon (the "City"), has determined that as a result of the January 1997 flood there is an immediate need to finance repair and reconstruction of the City's water, wastewater, parks, electrical, storm sewer and transportation systems including the water and wastewater treatment plants, city streets, bridges and sidewalks; watershed roads and bridges; mitigation, repair and reconstruction of streambanks and channels; and removal of present and continuous accumulations of silt in the City's water reservoir; all (100%) of which funding is required as a result of the January 1997 flood; and B. The costs are estimated to be $2,600,000, all of which are costs of capital construction or improvements or costs of issuing bonds; now, therefore, THE CITY OF ASHLAND RESOLVES AS FOLLOWS: SECTION 1. A special election is called for the purpose of submitting to the qualified voters of the City the question of contracting a general obligation bonded indebtedness in the name of the City in a sum not to exceed $2,600,000. Bond proceeds will be used to finance mitigation, repair and reconstruction of the City's water, wastewater, parks, electrical, storm drain and transportation systems including the water and wastewater treatment plants, city streets, bridges and sidewalks; watershed roads and bridges; mitigation, repair and reconstruction of streambanks and channels; and removal of present and continuous accumulations of silt in the City's water reservoir; all (100%) of which funding is required as a result of the January 1997 flood. The bonds shall mature over a period of not more than 20 years. SECTION 2. The special election called shall be held in the City on March 11, 1997. The election shall be conducted by mail pursuant to ORS 254.465 et seq. To facilitate PAGE 1-RESOLUTION CALLING A SPECIAL ELECTION (p:f1..Up"ec.ree( complying with the requirements of Article XI, Section 11g of the Oregon Constitution, the City shall request the Elections Officer of Jackson County in writing that: a. The Elections Officer of Jackson County put on the front of the outer envelope mailed to the electors the following statement, which shall be clearly and boldly printed in red: "CONTAINS VOTE ON PROPOSED TAX INCREASE." b. The Elections Officer provide a timely notice of deadlines for the filing of voters pamphlet statements to each person who has requested in writing that they receive such notices. SECTION 3. The City Recorder shall cause to be delivered to the Elections Officer of Jackson County, Oregon, the attached Notice of Bond Election, not later than 61 days prior to the election. The Election Officer is requested to give the electorate of the City notice that the election shall be conducted by mail pursuant to Oregon law; and SECTION 4. That the City Recorder shall give notice of the election by as provided in the laws of the State of Oregon and the charter and ordinances of the City of Ashland. SECTION 5. Article XI, Section 11g of the Oregon Constitution ("Section 11g") was enacted by the citizens of Oregon on November 5, 1996. Section 11 imposed requirements on elections which authorize taxes to be levied outside constitutional limits. Administrative rules or election procedures may be developed to implement the requirements of Section 11g, and it is desirable to authorize City staff to modify the ballot text contained in the attached Notice of Bond Election to comply with those rules and procedures. The City Attorney is authorized to after the text of the ballot to comply with any rules, procedures or practices of the Elections Officer of Jackson County to implement the requirements of Section 11 g. The foregoing resolution was READ and DULY ADOPTED at a special meeting of the City Council of the City of Ashland on the 9th day of Janarv, 1997. Barbara Christensen, City Recorder SIGNED and APPROVED this day of 1997. Catherine M. Golden, Mayor Reviewed as to form: Paul Nolte, City Attorney PAGE 2-RESOLUTION CALLING A SPECIAL ELECTION (p:flood spe elee.re.� NOTICE OF BOND ELECTION City of Ashland Jackson County, Oregon NOTICE IS HEREBY GIVEN that on March 11, 1997, an election will be held in City of Ashland, Jackson County, Oregon. The following question will be submitted to the qualified voters thereof: CITY OF ASHLAND CAPTION: GENERAL OBLIGATION BOND AUTHORIZATION FOR FLOOD RESTORATION AND MITIGATION QUESTION: Shall the City be authorized to issue general obligation bonds in an amount not to exceed $2,600,000? If the bonds are approved, they will be payable from taxes on property or property ownership that are not subject to limits of Article XI, Section 11b of the Oregon Constitution. JOV SUMMARY: This measure authorizes/i$2,600,000 of general obligation bonds for capital d, r(,construction.and_impmuements including flood mitigation related to the 1997 flood. Approximately 35% for repair and reconstruction of transportation system including bridges; approximately 33% for repair and reconstruction of water systems; approximately 32% for repair and reconstruction of Lithia Park and the park, wastewater, storm drain, stream channel and electrical systems; all (100%) costs relate to the January 1997 flood. The bonds would mature within 20 years. PAGE 1 - NOTICE OF BOND ELECTION (pJI.od\spo-e1ac.not) RESOLUTION NO. 97- A RESOLUTION OF THE CITY OF ASHLAND, JACKSON COUNTY, OREGON, DECLARING OFFICIAL INTENT TO ISSUE REIMBURSEMENT BONDS TO REIMBURSE EXPENDITURES INCURRED FOR FLOOD DAMAGE RECITALS: A. The City of Ashland, Oregon, (the"City") expects to cause certain capital expenditures to be incurred for the restoration of city facilities damaged in the New Year's Day flood, 1997, including, but not limited to damage to the city's water, sewer, electrical, storm sewer and transportation systems including the water and wastewater treatment plants, city streets, bridges and sidewalks; watershed roads and bridges; streambanks and channels; removal of present and continuous accumulations of sift in the city's water reservoir; and Lithia Park. B. The City intends to reimburse itself for such capital expenditures with the proceeds of borrowings incurred by the City (the "Reimbursement Bonds"). C. United States Treasury Regulation 1.103-18 sets forth certain requirements that must be complied with in order for the proceeds of Reimbursement Bonds to qualify as an expenditure of bond proceeds. One such requirement is that on or before the date the expenditure that is being reimbursed is paid, the issuer of Reimbursement Bonds must declare a reasonable official intent to reimburse itself for the capital expenditure. THE MAYOR AND THE CITY OF ASHLAND RESOLVE AS FOLLOWS: SECTION 1. It is the reasonable intent of the City to reimburse the capital expenditure for the repair, restoration and rehabilitation of the city's water, sewer, electrical, storm sewer and transportation systems including the water and wastewater treatment plants, city streets, bridges and sidewalks; watershed roads and bridges; streambanks and channels; removal of present and continuous accumulations of sift in the city's water reservoir; and Lithia Park with the proceeds of Reimbursement Bonds in the principal amount estimated to be $2,600,000. This resolution was read by title only in accordance with Ashland Municipal Code § 2.04.090 duly PASSED and ADOPTED this day of January, 1997. Barbara Christensen, City Recorder SIGNED and APPROVED this day of 1997. Catherine M. Golden, Mayor PAGE 1-RESOLUTION (p:flood\reknbond.rw)