HomeMy WebLinkAboutResolution No. 26-08 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 26-OS
A RESOLUTION OF THE CITY OF TIGARD CALLING A MEASURE ELECTION FOR GENERAL
OBLIGATION BONDS
WHEREAS, City of Tigard, Oregon (the "City") determines that it will benefit the City to obtain the
authority to issue up to $150,000,000 of general obligation bonds(the"Bonds")to finance the capital
costs described in the form of ballot title attached hereto as Exhibit A(collectively,the"Project");and
WHEREAS, Oregon Revised Statutes ("ORS") Section 287A.050 and the Oregon Constitution
authorize the City to issue general obligation bonds to finance capital costs upon approval by the
electors of the City; and
WHEREAS, ORS 287A.050 limits the amount for certain types of general obligation bonds to three
percent of the real market value of taxable property in the City, and issuing the Bonds described in
this resolution will not cause the City to exceed this limit; and
WHEREAS, the City anticipates incurring expenditures (the "Expenditures") to finance costs of the
Project and wishes to declare its official intent to reimburse itself for any Expenditures it may make
on the Project from the proceeds of the Bonds which may be issued in multiple series.
NOW, THEREFORE, BE IT RESOLVED by the Tigard City Council that:
SECTION 1: A measure election is hereby called for the purpose of submitting to the electors of
the City the question of issuing up to $150 million in principal amount of general
obligation bonds to finance the Project.
SECTION 2: The measure election hereby called shall be held in the City on the 19th day of
May, 2026.
SECTION 3: Pursuant to ORS 250.285, the City Council approves the ballot title that is attached
as Exhibit A, in substantially the form attached but with such changes as the City
Official, defined below, may approve, and directs that this ballot title be filed with
the City Elections Officer.
SECTION 4: Pursuant to ORS 250.275(5)and 250.285 the City Elections Officer will publish in the
next available edition of The Oregonian, or in another newspaper of general
distribution within the City, a notice of receipt of the ballot title including notice
that an elector may file a petition for review of the ballot title pursuant to Tigard
Municipal Code Chapter 1.12 and ORS 250.296 not later than the seventh business
day after the title is filed with the City Elections Officer. The notice will be in
substantially the form attached to this resolution as Exhibit B with such changes as
the City Official may approve.
RESOLUTION NO. 26-O$
Page 1
SECTION 5: Pursuant to ORS 254.095(2), the City directs the City Elections Officer to submit to
the County Clerk for Washington County, Oregon, a certified copy of this
Resolution, the Ballot Title, the Explanatory Statement and all other necessary
information no later than March 19, 2026, so that this measure may appear on the
ballot for the May 19, 2026 election.
SECTION 6: The City authorizes the City Manager or the designee of the City Manager(each a
"City Official"),to act on behalf of the City,and the City Official is hereby authorized
and directed to prepare the explanatory statement for this measure, and to take
such other action as is necessary or appropriate to carry out the purposes and intent
of this resolution in compliance with the applicable provisions of law.
SECTION 7: The City hereby declares its official intent pursuant to Treasury Regulation Section
1.150-2 to reimburse itself with the proceeds of the Bonds, which may be issued in
one or more series, for any of the Expenditures incurred by it prior to the issuance
of the Bonds.
SECTION 8: This resolution is effective immediately upon passage.
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PASSED: This Ili day of February 2026.
Mayor- City of Tigard
ATTEST:
City Recorder- City of Tigard O
RESOLUTION NO. 26- 0$
Page 2
EXHIBIT A
FORM OF BALLOT TITLE
CAPTION (10 Words)
Bonds to replace public safety, public works, emergency operations facilities.
QUESTION (20 Words)
Shall Tigard replace public safety, public works, emergency facilities; address safety, security by
issuing $150 million bond, with audits required? If the bonds are approved, they will be payable
from taxes on property or property ownership that are not subject to the limits of sections 11
and 11 b, Article XI of the Oregon Constitution.
SUMMARY (175 Words)
Tigard's ability to serve the community is impaired by the current police and public works
facilities, which are past useful life and were recommended for replacement in 2006. Tigard's
population has tripled since they were built, increasing by 40,000 people, and current facilities
no longer reflect best practices for public safety.
The proposed bonds would finance capital costs related to providing one new centralized facility
and related projects, including:
- An Emergency Operations Center, to support timely, effective response during disasters
like an ice storm, flood, or earthquake.
- Secure storage of criminal evidence onsite and a trauma-informed environment for crime
victims.
- Training space to keep police officers onsite for required training, ready to respond in
case of emergency.
General obligation bonds would be issued in principal amount not to exceed $150 million,
potentially in multiple series, each maturing within 30 years. The estimated annual tax rate is
$0.765/$1,000 of assessed value. Actual levy rate may differ due to changing interest rates and
assessed value.
Required independent annual audits will provide project accountability.
Exhibit A— Form of Ballot Title
EXHIBIT B
NOTICE OF RECEIPT OF BALLOT TITLE
Notice is hereby given that a ballot title for a measure referred by the City of Tigard has
been filed with the City Elections Officer on February 17, 2026, for inclusion in the May 19,
2026, Primary Election. The ballot title caption is "Bonds to replace public safety, public
works, emergency operations facilities."An elector may file a petition for review of the ballot
title pursuant to Tigard Municipal Code Chapter 1.12 and ORS 250.296 no later than the
seventh business day after the title is filed with the City Elections Officer, which is 5:00 pm
February 26, 2026.
CAPTION
Bonds to replace public safety, public works, emergency operations facilities.
QUESTION
Shall Tigard replace public safety, public works, emergency facilities; address safety,
security by issuing $150 million bond, with audits required? If the bonds are approved,
they will be payable from taxes on property or property ownership that are not subject
to the limits of sections 11 and 11 b, Article XI of the Oregon Constitution.
SUMMARY
Tigard's ability to serve the community is impaired by the current police and public
works facilities, which are past useful life and were recommended for replacement in
2006. Tigard's population has tripled since they were built, increasing by 40,000 people,
and current facilities no longer reflect best practices for public safety.
The proposed bonds would finance capital costs related to providing one new
centralized facility and related projects, including:
- An Emergency Operations Center, to support timely, effective response during
disasters like an ice storm, flood, or earthquake.
- Secure storage of criminal evidence onsite and a trauma-informed environment
for crime victims.
- Training space to keep police officers onsite for required training, ready to
respond in case of emergency.
General obligation bonds would be issued in principal amount not to exceed $150
million, potentially in multiple series, each maturing within 30 years. The estimated
annual tax rate is $0.765/$1,000 of assessed value. Actual levy rate may differ due to
changing interest rates and assessed value.
Exhibit B—Notice of Receipt of Ballot Title
Required independent annual audits will provide project accountability.
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City Recorder, as City Elections fficer Date signed
This legal notice is to be published by the City Elections Officer in The Oregonian, or in
another newspaper of general distribution within the City.
Exhibit B— Notice of Receipt of Ballot Title