File #: 2020-0400    Version: 1
Type: Ordinance Status: Passed
File created: 11/17/2020 In control: Budget and Fiscal Management Committee
On agenda: Final action: 12/8/2020
Enactment date: Enactment #: 19216
Title: AN ORDINANCE amending Ordinance 19112, adopted by the council on June 23, 2020, which authorized the issuance of sewer revenue refunding bonds and limited tax general obligation refunding bonds (payable from sewer revenues) of the county; and amending Ordinance 19112, Section 1.
Sponsors: Jeanne Kohl-Welles
Indexes: Bonds
Attachments: 1. Ordinance 19216, 2. 2020-0400 transmittal letter, 3. 2020-0400 Fiscal Note, 4. 2020-0400 Legislative Review Form, 5. 2020-0400 SR and Attachments, 6. 2020-0400_SR_Wastewater State Loan Refunding Authorization
Staff: Reed, Mike
Drafter
Clerk 11/02/2020
title
AN ORDINANCE amending Ordinance 19112, adopted by the council on June 23, 2020, which authorized the issuance of sewer revenue refunding bonds and limited tax general obligation refunding bonds (payable from sewer revenues) of the county; and amending Ordinance 19112, Section 1.
Body
PREAMBLE:
The county owns and operates facilities for the conveyance and treatment of sewage and control of combined sewer overflows that include wastewater treatment plants, interceptor and trunk sewers, pumping stations, regulator stations, outfall sewers, storm sewers to divert stormwater from sanitary sewers, lands for application of biosolids, property rights, and buildings and other structures and equipment (collectively "the System"), all in accordance with a comprehensive plan for metropolitan water pollution abatement under the authority of chapters 36.56 and 35.58 of the Revised Code of Washington ("RCW").
Long-term service agreements with participating municipalities and other entities ("the Participants") obligate the county to treat and dispose of sewage collected by the Participants. The Participants must pay the costs of these services including debt service on bonds payable from sewer revenues (including the bonds authorized by this ordinance) and other indebtedness payable from and secured by sewer revenues. Comparable rates and charges have been established for customers who deliver sewage to the System but are not subject to a contract with the county for this service.
In accordance with RCW 35.58.200(3), the county has declared that the health, safety and welfare of people within the metropolitan area require that certain Participants discharge sewage collected by those Participants into facilities of the System.
The county may have opportunities to refund all or portions of its currently outstanding obligations payable from sewer revenues, in each case to effect a saving to the county and ratepayers of the System or when necess...

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