Laserfiche WebLink
Section 2.03 Limitations on Liability.All debts, liabilities and other obligations <br /> incurred by the District ("Obligations") shall be satisfied: (a)in the case of Obligations which, <br /> by their terms, are not payable from a special or limited source of funds, exclusively from the <br /> revenues, assets and properties of the District, and (b)in the case of Obligations which, by <br /> their terms, are payable from a special or limited source of funds ,exclusively from such <br /> revenues, assets and properties of the District as shall be specifically pledged thereto or <br /> otherwise identified as being the source of payment thereof.No creditor, claimant or other <br /> person shall have any right of action against or recourse to the City or its revenues, assets or <br /> properties on account of or with respect to any such Obligations, or otherwise on account of or <br /> with respect to any acts or omissions of the District or its officers, employees or agents. <br /> Section 2.04 Mandatory Disclaimers. A disclaimer in substantially the following form <br /> shall be posted in a prominent place accessible to the public in the District's principal office <br /> which shall be the Everett City Council Office.It shall also be printed or stamped on all <br /> contracts,bonds and other documents that evidence or create any Obligation which,by its <br /> terms, is not payable from a special or limited source of funds. <br /> The Everett Transportation Benefit District is a Transportation Benefit District established <br /> pursuant to Ordinance No. 3386-14 of the City of Everett,Washington, and the laws of the <br /> State of Washington, including, but not limited to, Chapter 36.73 of the Revised Code of <br /> Washington. All debts, liabilities and other obligations incurred by the District shall be <br /> satisfied exclusively from the revenues, assets and properties of the District.No creditor, <br /> claimant or other person shall have any right of action against or recourse to the City of <br /> Everett, the State of Washington, or any other political subdivision of the State of Washington <br /> on account of or with respect to any debts, liabilities or other obligations of the District, or <br /> otherwise on account of or with respect to any acts or omissions of the District or its officers, <br /> employees or agents. <br /> ARTICLE III <br /> DISSOLUTION <br /> Section 3.01 Dissolution. The District shall exist until dissolved in accordance with the <br /> requirements of RCW 36.73.050. The retirement of debt, notice of dissolution and payment of <br /> creditors shall all comply with the provisions of the Statute. The District shall be automatically <br /> dissolved when all indebtedness of the District has been retired, and when all the District's <br /> anticipated responsibilities have been satisfied. <br /> ARTICLE IV <br /> POWERS; INDEMNIFICATION <br /> Section 4.01 Powers.Except as otherwise provided herein,the District shall have and may <br /> exercise all lawful powers conferred upon a Transportation Benefit District as of the date <br /> hereof by the laws of the State of Washington, limited as provided in the Ordinance. Such <br /> powers shall include,but are not limited to,the following: <br /> 40 <br />