King County Local Voters Pamphlet

Sept. 14, 2004 Special Elections

PROPOSITION NO. 1
FACILITIES AND EQUIPMENT BONDS - $9,000,000

The Board of Fire Commissioners of Fire Protection District No. 43, King County (Maple Valley Fire and Life Safety), adopted Resolution No. R-04-01 concerning a proposition to finance and refinance facilities and equipment. This proposition would authorized the District to acquire, finance and refinance firefighting, emergency, communications, medical and safety equipment, apparatus including fire engines and other vehicles, improve and equip fire stations, and carry out other capital purposes, issue no more than $9,000,000 of general obligation bonds maturing within 20 years, and levy annual excess property taxes to pay and retire such bonds, all as provided in Resolution No. R-04-01. Should this proposition be:

APPROVED
REJECTED

EXPLANATORY STATEMENT

Passage of Proposition 1 would authorize Fire Protection District No. 43 (Maple Valley Fire and Life Safety) King County, Washington, to issue $9,000,000 of general obligation bonds to pay the costs to: (1) acquire fire fighting, emergency, communications, medical and safety equipment and apparatus (including fire engines and other vehicles); (2) improve and equip existing fire stations; (3) refinance the District’s outstanding 2001 capital improvement bond; and (4) carry out other capital purposes, all as consistent with the District’s “2005-2015 Bond Proposition Capital Projects List.” These capital projects are expected to meet the District’s capital needs for the next 8 – 10 years and are necessary due to aging equipment, the condition of existing facilities, changes in firefighter safety standards and community growth.

To accomplish this long-term capital projects plan, the District expects to sell the bonds in three series, one in late 2004, another in 2007, and the final series in 2010. Each series of bonds will mature within 20 years after issuance and will be repaid from annual property tax levies in excess of regular property tax levies. If the proposed bonds are approved, the District anticipates a tax rate increase (over the existing rate) of approximately 11¢ per $1,000 of assessed value for a total bond tax rate of 22¢ per $1,000 of assessed value for the life of the bonds, or an estimated $55 per year for a $250,000 home.

Complete Text of Resolution

FIRE PROTECTION DISTRICT NO. 43
(MAPLE VALLEY FIRE AND LIFE SAFETY)
KING COUNTY, WASHINGTON

RESOLUTION NO. R-04-01

A RESOLUTION of the Board of Fire Commissioners of Fire Protection District No. 43, King County, Washington, also known as Maple Valley Fire and Life Safety, providing for the submission to the voters of the District at a special election to be therein on September 14, 2004, in conjunction with the State Primary Election to be held on the same date, of a proposition authorizing the e District to issue its general obligation bonds in the principal amount of no more than $9,000,000 (or such lesser maximum amount as may be legally issued under the laws governing the limitation of indebtedness), for the purpose of paying costs (including refinancing) of acquiring firefighting, emergency, communications, medical and safety equipment, apparatus including fire engines and other vehicles, improving and equipping fire stations, and carrying out other capital purposes as determined by the Board of Fire Commissioners of the District, 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 and designating the Fire Chief of the District to receive notice of the ballot title from the Director of Records and Elections of King County, Washington.

WHEREAS, in the judgment of the Board of Fire Commissioners (the “Board”) of Fire Protection District No. 43, King County, Washington (the “District”), it is essential and necessary for the protection of the public health, life, safety and property that the District acquire firefighting, emergency, communications, medical and safety equipment, apparatus including fire engines and other vehicles, improve and equip fire stations and carry out other capital purposes as determined by the Board consistent with the District’s “2005-2015 Bond Proposition Capital Projects List” (collectively, the “Projects”), as more particularly described in Exhibit A, attached to and made a part hereof; and

WHEREAS, the District currently lacks sufficient funds with which to carry out the Projects; and

WHEREAS, to provide funds for the purpose of constructing and furnishing a new fire station and acquiring and equipping of a fire engine, the District previously issued its Limited Tax General Obligation Bond, 2001 (the “2001 Bond”) in the amount of $2,024,000, of which $1,664,404.65 remains outstanding, and the Board has determined that by refunding and redeeming the 2001 Bond, it will both accomplish savings and modify bond covenants and such a refunding and redemption will be in the best interests of the District and its residents; and

WHEREAS, the conditions hereinbefore set forth create an emergency which requires the holding of a special election in the District; NOW, THEREFORE,

BE IT RESOLVED BY THE BOARD OF FIRE COMMISSIONERS OF FIRE PROTECTION DISTRICT NO. 43, KING COUNTY, WASHINGTON, as follows:

Section 1. 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, 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 District, in the manner provided by law, to be held therein on September 14, 2004, in conjunction with the State Primary Election to be held on the same date, for the purpose of submitting to the voters of the District, for their approval or rejection, the question of whether or not general obligation bonds of the District shall be issued in the principal amount of no more than $9,000,000 (or such lesser maximum amount as may be legally issued under the laws governing the limitation of indebtedness), the proceeds of which shall be expended to pay costs of accomplishing and carrying out the Projects (as defined in the recitals hereto and by this reference incorporated herein) and refunding and redeeming the 2001 Bond if the Board determines that such a refunding is financially advantageous to the District, with excess property taxes levied to pay and retire such bonds. The Projects are to be more fully described in the 2005-2015 Bond Proposition Capital Projects List previously approved by the Board.

If such proposition is approved by the requisite number of voters, the District will be authorized to issue the bonds in the manner described in this resolution, to spend the proceeds thereof to pay the costs of the Projects and to refund and redeem the 2001 Bonds, and levy excess property taxes to pay and retire such bonds to be issued. 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 capital purposes constituting the Projects shall be deemed a part of the costs of such improvements. The Projects shall include all necessary equipments, furnishings and appurtenances. The proceeds of the bonds may be used to pay costs related to the sale, issuance and delivery of the bonds.

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 District, for capital purposes only, which shall not include the replacement of equipment. The Projects, or any portion or portions thereof, shall be acquired insofar as is practicable with the capital funds available and in such order of time, with such specifications and at such locations as shall be deemed advisable by the Board.

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 20 years from the date of issue, and may be such lesser time as fixed by the Board; 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 resolution of the Board. Pending the issuance of the bonds, the District may issue short-term obligations pursuant to chapter 39.50 RCW.

The Board declares that to the extent, prior to the date bonds or other short-term obligations are issued to finance the Projects, the District shall make capital expenditures for the Projects from funds that are not (and are not reasonable expected to be) reserved, allocated on a long-term basis or otherwise set aside by the District under its existing and reasonably foreseeable budgetary and financial circumstances to finance the Projects, those capital expenditures are intended to be 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 resolution.

Section 3. If available funds from the proceeds of bonds authorized for the above purposes are more than sufficient to carry out the Projects, or should state or local circumstances require any alteration in those purposes, the District may acquire, construct, equip and make other capital improvements to the facilities of the District, all as the Board may determine by resolution. The Board shall determine the application of available money between the various parts of the Projects so as to accomplish, as near as may be, all improvements described. The Board shall determine the exact order, extent and specifications for the Projects.

If the Board shall determine that is has become impractical to accomplish any of such improvements or portions thereof by reason of state or local circumstances, including, but not limited to, changed conditions or needs, regulatory considerations, incompatible development or costs substantially in excess of those estimated, the District shall not be required to accomplish such improvements and may apply the bond proceeds or any portion thereof to other portions of the improvements, to other capital purposes of the District, or to payment of principal of or interest on the bonds, as the Board may determine by resolution. In the event that the proceeds of the sale of the bonds, plus any other money of the District legally available, are insufficient to accomplish all of the capital improvements making up the Projects, the District shall use the available funds for paying the cost of those improvements for which the bonds were approved that are deemed by the Board most necessary and in the best interest of the District.

Section 4. Pursuant to RCW 29A.36.071, the King County Prosecuting Attorney is requested to prepare the concise description of the proposition for the ballot title in substantially the following form:

PROPOSITION __

FIRE PROTECTION DISTRICT NO. 43
MAPLE VALLEY FIRE AND LIFE SAFETY
KING COUNTY, WASHINGTON

FACILITIES AND EQUIPMENT BONDS - $9,000,000

The Board of Fire Commissioners of Fire Protection District No. 43, King County (Maple Valley Fire and Life Safety), adopted Resolution No. R-04-01 concerning a proposition to finance and refinance facilities and equipment. This proposition would authorize the District to acquire, finance and refinance firefighting, emergency, communications, medical and safety equipment, apparatus including fire engines and other vehicles, improve and equip fire stations, and carry out other capital purposes, issue no more than $9,000,000 of general obligation bonds maturing within 20 years, and levy annual excess property taxes to pay and retire such bonds, all as provided in Resolution No. R-04-01. Should this proposition be:

APPROVED………………….
REJECTED…………………...

Section 5. The Secretary of the District or his designee is directed (a) to present a certified copy of this resolution to the Auditor 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 District at the aforesaid special election.

Section 6. For purposes of receiving notice of the exact language of the ballot title required by RCW 29A.36.080, the Board hereby designates the Fire Chief of the District as the individual to whom the Auditor shall provide such notice.

ADOPTED by the Board of Fire Commissioners of Fire Protection District No. 43 (Maple Valley Fire and Life Safety), King County, Washington, at a regular open public meeting thereof, this 22nd day of July 2004, the following Commissioners being present and voting in favor of the resolution.

FIRE PROTECTION DISTRICT NO. 43
(MAPLE VALLEY FIRE AND LIFE SAFETY)
KING COUNTY, WASHINGTON

____________________________
Mark D. Fern, Chairman and Commissioner (signed)

____________________________
Fred W. Maxwell, Commissioner (signed)

____________________________
Jeff P.J. Granlund, Commissioner (not signed)

ATTEST:

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