Resolution No. 09-59 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 09-
A RESOLUTION OF TIE CITY OF TIGARD, WASHINGTON COUNTY, OREGON,
CALLING A MEASURE ELECTION TO SUBMIT TO THE ELECTORS OF CITY THE
QUESTION OF CONTRACTING GENERAL OBLIGATION BONDED INDEBTEDNESS
IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $20,000,000 TO FINANCE
TEE CASTS OF CAPITAL CONSTRUCTION AND CAPITAL IMPROVEMENTS
DECLARING INTENT TO REIMBURSE EXPENDITURES; AND RELATED MATTERS.
WHEREAS, the City Council of the City of Tigard, Washington County, Oregon (the "City°'), has
determined that a need exists for the City to finance the costs of capital construction and capital
improvements related to preservation of natural areas, wildlife habitat; improvement and creation of
community parks and recreational areas; construction and improvement of hiking, bilging and
wanting trails through land acquisition and restoration, and protection of eater quality in local creeps
and streams (the "Projects"). The bond proceeds would also be used to pay bond issuance costs;
and.
WHEREAS,the costs of the Projects are estimated to be not more than $20,000,000; and
WFIEREAS, Oregon Revised. Statutes Chapter 287A.050 authorizes the City to contract banded
indebtedness to provide funds to finance the costs of the Projects and to pay band issuance costs
subject to voter approval; and.
WH[EREA ,the City anticipates incurring expenditures (the "Expenditures") to finance the costs of
the Projects and hereby declares its official intent to reimburse itself for any Expenditures it may
make on the Projects from the proceeds of voter-approved general obligation bonds (the "Bonds"),
the interest on which shall be excluded from gross income under Section 103` of the Internal
Revenue Code of 1986,as amended (the "Code"); and
WHEREAS, the City understands that the use of proceeds of the Bonds to reimburse an
Expenditure may occur no later than the later of (a) 18 months after the date of such Expenditure or
(b) 18 months after completion of the projects to which such Expenditure relates, and in any event
no later than three years after the date of such Expenditure; and may occur no earlier than sixty(60)
days prior to the date of the adoption of this resolution; except for preliminary expenditures in an
amount not exceeding 0% of the Bond proceeds or expenditures which do not exceed the lesser of
$100,000 or 5 percent of the Bond proceeds.
NOW,THEREFORE,BE IT RESOLVED bythe Tigard City Council that:
Page 1
SECTION 1: A measure elector is hereby called for the purpose of submitting to the electors of
the City the question of contracting general obligation bonded indebtedness in the
name of the City in an amount not to exceed $20,000,000. Bored proceeds will be
used to finance the Projects and pay all Bond issuance costs; Pursuant to ORS
250,285, the City Council approves the ballot title that is attached as Exhibit A and
directs that this ballot title be filed with the City Attorney and the City Elections
Officer.
SECTION 2: The measure election hereby called shall be held in the City on the 3r3 day of
November, 2009. The election shall be conducted by mail pursuant to ORS 254.465
and 254:470.
SECTION 3 The City authorizes the Mayor, City Manager (each an "Authorized:Representative")
or a designee of the Authorized Representative to act on behalf of the City and to
take such further action as is necessary to carryout the intent and purposes herein in
compliance with the applicable provisions of law.
SEC;TIC3 4: Pursuant to ORS 250,275(5) the City Elections Officer shall publish in the next ;
available edition of the Tigard Times or in some other 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 250.296 not
later than the seventh business day after ,the title is filed with the City Elections
Officer in substantially the form attached hereto as Exhibit B (the "Notice").
SECTION 5: Pursuant to ORS 254.095(2) the City directs the City Elections Officer to file a
Notice of City Measure Election in substantially the form of Exhibit A with the
Washington County Elections Office not earlier than the eighth business day after
the date on which Exhibit A is filed with the City Elections Officer and not later
than September 3, 2009 (sixty-one (61) days prier to the election date). The
Washington County Elections Office is required to produce and disseminate a
facsimile of the ballot in accordance with ORS 254.205,
SECTION 6: The City hereby declares its official intent to reimburse itself with the proceeds of
the Bands for any of the Expenditures incurred by it prior to the issuance of the
Bonds.
SECTION 7: The law firm of IC & L Cates LLP, is hereby appointed to serve as bond counsel
with respect to the issuance of the Bonds, The City willl pay the fees and expenses of
bond counsel from Bond proceeds.
RESOLUTION NO.09
Page 2 x
SECTION 8. The Explanatory Statement for the measure for the Washington County Voter's
Pamphlet shall be as set forth in Exhibit C attached.
SECI"ION 9: This resolution is effective immediately tipon passage.
PASSED: This � daycif - � L 2001.
or City of Tigard
ATTEST
Cid ReColdel:- City of Tigan
IAQC rc de\ uncil Packets\Packet'09`090818\1;o bond resolutions-H-09draft.doc
RESOLUTION NO,09-
Page 3
EXHIBIT A
NOTICE OF CITY MEASURE ELECTION
CITY OF TIG
WASHINGTON COUNTY, OREGON
NOTICE IS HEREBY GIVEN that on November 3, 2009, a measure election will be
held in the City of Tigard,'Washington CountT, Oregon:.,The following shall be the ballot title of the
measure to be submitted to the City's voters on this date:
CAPTION
Band Issue to Preserve Natural Areas,and Develop Parks,Trails.
QUESTION
Shall City Issue $201dlillon General Obligation Bonds to Preserve Natural Areas,Develop Parks
and Trails Beginning Fiscal Year 2010-2011?
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 11b,Article M of the Oregon Constitution.
SUMMARY
If approved,this measure would authorize the City of Tigard to sell up to $ 0 million in bonds for
costs of capital construction and improvements,including land acquisition and restoration,which
would:
• Preserve natural areas,
• Create and improve communityparks,recreational areas and trails,
• Protect creeks and streams for unproved local water quality,and
• Protect streams,fish and wildlife.
The Parks and Recreation Board would provide oversight; proceeds would be audited in City's
yearly audit.
Bonds would mature in 21 years or less from issuance and may be issued in one or more series. The
estimated additional annual cost to property owners if all $20 million in bonds are sold would be
$0.32 per$1,000 of assessed valuation. For the owner of a home with the median,assessed value of
$200,893,the city estimates that the additional monthly cost would be about$5.41 per month,or
$65 per year.
RESO U110N NO.09- 5-q
Page 4 y
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 August 18, 2009. The ballot title caption is BOND
ISSUE TO PRESERVE NATURAL ARE,AS AND DEVELOP PARKS, TRAIT-S. An elector may
file a petition for review of t1-:iis, ballot title in the Washington County Circuit Court no later than
5:00 p.m., August 27, 2009 [insert the date that is seven business days after filing this notice with the
City Elections Officer] under ORS 250.296_
Signature of CityElections Officer Date signed
(1)
Qj��Recorder
Printed Name of City Elections Officer Title
This legal notice is to be published by the City Elections Officer in The Times,Tigard,
Oregon, or in another newspaper of general distribution within the City.
RESOLMIONNO.09-- —5
Page,Y
M
EXHBIT C
EXPLANATORY STATEMENT
T
With passage of the Bond Measure,voters would direct the City of Tigard to preserve natural areas,
create,improve and develop parrs,preserve clean water by acquiring lands near rivers,creeps and
steams and protect wildlife habitat throughout Tigard,while managing the impacts of growth.
The$20 million general obligation bond measure would allow for the implementation of a
significant portion of the Tigard Park System Master plan, balancing the following objectives:
• The acquisition of land for the creation of high qualityparlts and natural areas for both
active and passive recreation:for all ages, with the goal of pants within a half-mile of every
Tigard resident.
• The acquisition of natural areas intended primarily for protection of critical natural
resources, including rare and state and federally listed species,so that natural areas are an
integral part of every Tigard neighborhood.
• The improvement and development of existing neighborhood and co unity parks
throughout Tigard.
• The acquisition of land and easements for the creation of an interconnected regional and
local system of on- and off- road trails and paths that link together neighborhoods,parrs,
natural areas, major urban activity centers and regional recreational opportunities.
• The preservation of clean water throughout Tigard through the acquisition of sensitive
lands near rivers,creeps,streams and wetlands.
In the first year following its passage,the 2009 Natural Areas,Parks and Trails Bond Measure would
likely cost property owners 32 cents per$1,000 of assessed value. For the average homeowner;the
total annual cost is likely to be $ 5.41 per month or$65 per year.
Additionally,all spending from this measure would be subject to oversight by die Tigard Tarps and
Recreation Board and audits within the City's yearly audit to ensure that all funds are spent
efficiently and appropriately in a balanced manner. And bylaw,no money from the measure can be
used for administrators'salaries.
RESOLUTJ:ON NO.09-y
Page,,2`L x