King County Local Voters Pamphlet

Nov. 2, 2004 General and Special Elections

City of Issaquah
Proposition No. 1

ITS (INTELLIGENT TRANSPORTATION SYSTEM) TRAFFIC SIGNAL MODERNIZATION, COORDINATION, AND TRAVEL ENHANCEMENT

The City Council of the City of Issaquah passed Ordinance No. ___ relating to the ITS Traffic Signal Modernization, Coordination, and Travel Enhancement Project. If approved, this ballot proposition would authorize the City to modernize existing traffic signals, communication equipment and traffic management center; improve traffic signal coordination timing; and install travel enhancement features for improved travel time and traffic flow along the City's main roadways, by issuing up to $3,630,000 of general obligation bonds maturing within twenty years, and levying annual excess property taxes to pay and retire such bonds, all as described in Ordinance No. ___. Should this proposition be:

APPROVED
REJECTED

Explanatory Statement

The ITS (Intelligent Transportation System) Traffic Signal Modernization, Coordination, and Travel Enhancement Project will update the signal control technology at the City's intersections, including additional synchronization of the City's traffic lights.

If approved, the proposition will authorize the City of Issaquah to incur indebtedness up to $3,630,000 in general obligation bonds to finance capital improvements to the City's existing traffic signals, communication equipment, and signal coordination timing. The bonds would provide a Traffic Management Center, installation of Closed Circuit Television (CCTV), and Dynamic Message Signs (DMS) on City streets for improved travel time and traffic flow along the City's main roadways (including but not limited to SR 900, SE 56th Street, East Lake Sammamish Parkway, Gilman Boulevard, Maple Street, Front Street and the Issaquah Highlands area).

If approved, bonds would mature within 20 years and be repaid by annual property tax levies in excess of regular property tax levies throughout the City at an estimated average of 9.8 cents per $1,000 of assessed value, or an estimated $9.81 per year on $100,000 of assessed valuation ($29.43 for a home with a $300,000 assessed value).

Taxes authorized by this vote will not be levied or collected until the bonds are sold.

Complete Text of Resolution

ORDINANCE NO. 2397

AN ORDINANCE of the City of Issaquah, Washington, providing for the submission to the voters of the City at a special election to be held therein on November 2, 2004, 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 $3,630,000, for the purpose of implementing the ITS (Intelligent Transportation System) Traffic Signal Modernization, Coordination, and Travel Enhancement Project, 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 Issaquah, Washington (the “City”), is in urgent need of reducing traffic congestion which will be accomplished through the Traffic Signal Modernization, Coordination, and Travel Enhancement Project (the “Project”) and the City does not have sufficient funds available for that purpose to meet the estimated cost of the Project; and

WHEREAS, the applicable laws of the State of Washington require that a special election be called for the submission of a proposition to the qualified electors within the City for their approval or rejection prior to incurring the indebtedness; and

WHEREAS, the City will notify the Director of Records and Elections of King County, Washington, in compliance with applicable laws of the State of Washington, of its intention to hold a special election on Tuesday, November 2, 2004, to submit a proposition authorizing the City to issue its unlimited tax general obligation bonds in the principal amount of no more than Three Million Six Hundred Thirty Thousand Dollars ($3,630,000); NOW, THEREFORE,

THE CITY COUNCIL OF THE CITY OF ISSAQUAH, WASHINGTON, DO ORDAIN AS FOLLOWS:

Section 1. It is in the public interest, welfare and convenience to relieve the City’s traffic congestion and delay through careful application of selected traffic improvement technologies through the Traffic Signal Modernization, Coordination, and Travel Enhancement Project (the “Project”). The Project includes the modernization of the City’s existing traffic signals, communication equipment and traffic management center; improvement of traffic signal coordination timing; and installation of travel enhancement features such as Closed Circuit Television (CCTV) and Dynamic Message Signs (DMS) for improved travel time and traffic flow along the City’s main roadways (including but not limited to SR 900, SE 56th Street, East Lake Sammamish Parkway, Gilman Boulevard, Maple Street, Newport Way, Front Street, and the Issaquah Highlands area) and related traffic improvements.

The City Council of the City may modify details of the foregoing Project where necessary or advisable in the judgment of the City Council.

The estimated cost of carrying out the Project is declared to be, as nearly as may be, Three Million Six Hundred Thirty Thousand Dollars ($3,630,000) and the City does not have sufficient funds to pay these costs.

Section 2. The cost of all necessary architectural, engineering, legal and other consulting services, inspection and testing, administrative expenses, site acquisition or improvement, demolition, on and off-site utilities, related improvements and other costs incurred in connection with the making of the capital improvements constituting the Project shall be deemed a part of the costs of such improvements. The Project shall include all necessary equipment and appurtenances. The proceeds of the bonds may be used to pay costs related to the sale, issuance and delivery of the bonds.

Section 3. If in the opinion of the City Council, the needs of the City change in a manner that results in a circumstance wherein any portion of the Project is not required or feasible, the City Council retains the right not to acquire, construct and install such capital improvements, to pay principal of or interest on the bonds authorized by this ordinance, or to otherwise modify details of the Project where necessary or advisable in the judgment of the City Council.

Section 4. The cost of the Project shall be paid from the proceeds of the sale, issuance and delivery of unlimited tax general obligation bonds in the principal amount of not to exceed Three Million Six Hundred Thirty Thousand Dollars ($3,630,000), if the proposition specified in Section 10 below is approved by the qualified electors of the City as required by the Constitution and the laws of the State of Washington. In the event that there are bond proceeds (or interest earnings thereon) remaining after the Project has been completed or duly provided for, the City Council retains the right to use such funds to pay or redeem any outstanding bonds.

Section 5. The bonds provided for in Section 4 hereof, if approved and issued, shall be sold in such amounts and at such time or times as deemed necessary and advisable by the City Council and as permitted by law, shall bear interest at such rate or rates (not to exceed the maximum provided by law at the time such bonds are sold) and in such manner as the City Council shall determine at the time the bonds are sold, and shall mature in such amounts as determined by the City Council within a maximum term of not to exceed twenty years from the date of issue, but may mature at an earlier date or dates as authorized by the City Council and as provided by law. The bonds 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 unlimited tax general obligation bonds of the City, and unless paid from other sources, both principal thereof and interest thereon shall be payable out of annual tax levies to be made in excess of regular property tax levies upon all the taxable property within the City without limitation as to the rate or amount but only in amounts sufficient to meet the payment of principal and interest on the bonds as they come due. The designation of the bonds may be changed to reflect the actual date of issuance. The exact date, form, term and maturity 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 or such other obligations as are permitted by law to pay for the costs of the Project. Such obligations may be paid or refunded with the proceeds of the bonds.

Section 6. The City Council declares that to the extent, prior to the date bonds or other 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 budgetary and financial circumstances to finance the Project, those capital expenditures are intended to be reimbursed out of proceeds of the bonds or other obligations issued in an amount not to exceed the principal amount of the bonds provided by this ordinance.

Section 7. In the event the proceeds of the sale of the bonds and other available money are insufficient to make all the capital improvements herein provided for, the City shall use the proceeds of the bonds and other available money for paying the costs of those improvements for which bonds were approved and deemed most necessary and to be in the best interest of the City by the City Council.

Section 8. It is found and declared that an emergency exists requiring the calling of a special election and the Director of Records and Elections of King County, Washington (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 2, 2004, 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 amount of not to exceed Three Million Six Hundred Thirty Thousand Dollars ($3,630,000) or such lesser maximum amount as may be legally issued under the laws governing the limitation of indebtedness, and the proceeds of the bond issue expended to pay part of the costs of carrying out the Project, 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.

Section 9. The funds derived from 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.

Section 10. The City Clerk is hereby authorized and directed to certify to the Auditor the following ballot proposition, prepared by the City Attorney pursuant to RCW 29A.36.071:

PROPOSITION _____

CITY OF ISSAQUAH

ITS (INTELLIGENT TRANSPORTATION SYSTEM) TRAFFIC SIGNAL
MODERNIZATION, COORDINATION, AND TRAVEL ENHANCEMENT BONDS –
$3,630,000

The City Council of the City of Issaquah passed Ordinance No. ___ relating to the ITS Traffic Signal Modernization, Coordination, and Travel Enhancement Project. If approved, this ballot proposition would authorize the City to modernize existing traffic signals, communication equipment and traffic management center; improve traffic signal coordination timing; and install travel enhancement features for improved travel time and traffic flow along the City’s main roadways, by issuing up to $3,630,000 of general obligation bonds maturing within twenty years, and levying annual excess property taxes to pay and retire such bonds, all as described in Ordinance No. ___.

Should this proposition be:

APPROVED……………………[ ]
REJECTED……………………..[ ]

Section 11. 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. All acts of the City Clerk and other officers and employees of the City consistent with this ordinance and performed prior to its effective date, are ratified and confirmed.

Section 12. This ordinance or a summary thereof consisting of the title shall be published in the official newspaper of the City, and shall take effect and be in full force five (5) days after publication.

PASSED by the City Council of the City of Issaquah, Washington, this 7th day of September, 2004.

APPROVED by the Mayor of the City of Issaquah, Washington this 8th day of September, 2004.

APPROVED:

____________________________
AVA FRISINGER, Mayor (signed)

Updated: Oct. 11, 2004

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