Legals for April, 5 2021
RESOLUTION NO. 1422 A RESOLUTION OF THE PORT COMMISSION OF THE GRANT COUNTY PORT DISTRICT NO. 10 (AKA PORT OF MOSES LAKE), WASHINGTON, ORDERING CERTAIN LOCAL IMPROVEMENTS AND CREATING A LOCAL IMPROVEMENT DISTRICT; PROVIDING FOR THE PAYMENT OF THE COST OF SUCH IMPROVEMENTS BY SPECIAL ASSESSMENTS; CREATING A LOCAL IMPROVEMENT DISTRICT FUND; AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT BONDS AND INTERIM FINANCING WARRANTS OR NOTES. WHEREAS, on March 11, 2019, the Port Commission of the Grant County Port District No. 10 (aka Port of Moses Lake), Washington (herein referred to as the "Port") adopted Resolution No. 1398 declaring its intention to order certain local improvements within the Port and to create a local improvement district; and WHEREAS, the proposed improvements are within the comprehensive plan of improvements of the Port, as amended; and WHEREAS, an environmental review of the proposed improvements has been undertaken; and WHEREAS, a hearing was held on April 8, 2019, after notice as provided by law, and after discussion of the proposed improvements and due consideration thereof and of all objections thereto, the Commission has determined to order the local improvements described below and to create a local improvement district; and WHEREAS, estimates of the costs and expenses of the proposed improvements, a description of the boundaries of the district, a statement of what portion of the costs and expenses of the improvements would be borne by the property within the proposed district, and a diagram showing the lots, tracts and parcels to be benefited and other information pertaining to the proposed district, have been filed with the Secretary of the Port Commission and certified to the Port Commission; NOW, THEREFORE, BE IT RESOLVED BY THE PORT COMMISSION OF GRANT COUNTY PORT DISTRICT NO. 10 (THE PORT OF MOSES LAKE), WASHINGTON; as follows: Section 1. The Port shall acquire, construct and install the following improvements within the following described areas of the Port: 1. Connector road from Highway 17 to Route 10; and 2. Water and sewer access lines to all parcels within the proposed LID. The foregoing improvements are hereafter referred to as the "Improvements." Section 2. The plans and specifications for the Improvements, as prepared by the Port's Director of Port Facilities, and now on file in the Secretary of the Port Commission's office, are hereby adopted and approved. The Improvements, when completed, shall be in accordance with said plans, the provisions of this resolution and any other resolutions as hereafter may be adopted in connection herewith; provided, however, that changes in detail of such plans that do not significantly alter the scope or costs of the Improvements will not require further approval. Section 3. There is hereby established a local improvement district of the Port to be known as "Westside Employment Center Local Improvement District" (herein referred to as the "WEC LID"). The boundaries of the WEC LID shall be as described in Exhibit A attached hereto and incorporated herein by this reference. It is hereby found that the above-described boundaries embrace as nearly as practicable all the property specially benefited by the Improvements. Section 4. The total cost and expense of the Improvements thereto is estimated to be $5,000,000 to $6,500,000, of which 100% shall be borne by and assessed against the property within the WEC LID specially benefited by the Improvements. Assessments shall be made against the property within the WEC LID in accordance with the special benefits accruing to such property. Section 5. Upon completion of the Improvements, an assessment roll shall be prepared and, after notice and hearing in the manner provided by law, an assessment roll shall be confirmed. Assessments not paid within the 30-day prepayment period provided by law shall be payable in installments and the Port shall issue improvement district bonds payable from such unpaid installments. The number of years said installments shall run, the dates of payment of the same and the rate of interest that the unpaid installments shall bear shall be as hereafter fixed by resolution. Section 6. There is hereby created a fund of the Port to be known as the "Westside Employment Center Local Improvement District Fund" for the purpose of paying the cost of the Improvements provided for in this resolution and into which there shall be paid all of the assessments collected in the WEC LID as and when directed by the resolution confirming the assessment roll. All moneys received from the sale of bonds, notes and warrants drawn on the Westside Employment Center LID Fund shall be deposited into said Fund, and applied solely in payment of the costs and expenses of the Improvements. Section 7. Pending the issuance of local improvement district bonds, the Port may, for the purpose of meeting any and all costs and expenses of constructing the Improvements for which funds are not otherwise available, as the same are installed prior to the sale of the bonds, issue interim :financing warrants against the Westside Employment Center LID Fund, or issue local improvement district bond anticipation notes pursuant to RCW Ch. 39.50, bearing interest at such rate or rates and with such terms as may hereafter be established by the Commission by resolution. Such interim warrants or notes, together with the interest due thereon to the date of delivery of the bonds, shall be redeemed and retired from the proceeds of the sale of local improvement district bonds or prepayments of assessments. Such warrants or notes shall be issued in an aggregate principal amount not in excess of the cost and expense of the Improvements. Section 8. It is the intent of the Port to reimburse a portion of the costs of the improvements described in Section 1 with the proceeds of bonds to be issued by the Port (the "Reimbursement Bonds") the interest on which is excludable from gross income under Section 103 of the Internal Revenue Code of 1986, as amended. The maximum principal amount of Reimbursement Bonds expected to be issued is $6,000,000. The expenditures with respect to which the Port reasonably expects to be reimbursed from the proceeds of Reimbursement Bonds will be made from the Port's general fund. This declaration of official intention is made pursuant to Treasury Regulation Section 1.150-2. Section 9. This resolution shall be effective immediately from and after the date of its adoption. ADOPTED by the Port Commission of Grant County Port District No. 10 (Port of Moses Lake) on this 22nd day of March, 2021, and duly authenticated in open session by signatures of the Commissioners voting in favor thereof. GRANT COUNTY PORT DISTRICT NO. 10 (PORT OF MOSES LAKE) By /s/ David K. Jones President and Commissioner By /s/ Darrin M. Jackson Vice President and Commissioner By /s/ Stroud W. Kunkle Secretary and Commissioner