Ordinance 2587-02 - Laserfiche WebLink

iv ORDINANCE NO. 2587-02 477, AN ORDINANCE approving the terms and authorizing the execution and delivery of an Interlocal Agreement Between the City of Everett and the Everett Public Facilities District for Financing a Regional Center, including the authorization of certain contingent loans by the City of Everett to the Everett Public Facilities District if required in connection with the financing of the Regional Center; pledging the full faith, credit and resources of the City of Everett to the obligation of the City of Everett to make such loans; establishing certain financial, management and operational controls relating to the financing, construction, management and operation of the Regional Center; and authorizing the proper officials of the City of Everett to carry out such Interlocal Agreement. WHEREAS, the City of Everett(the"City") is a municipal corporation operated as a charter city, organized and existing under and by virtue of the laws of the State of Washington; WHEREAS, the City retained Brailsford & Dunlavey along with subconsultant Ellerbe Becket to conduct a feasibility study for a proposed multipurpose indoor arena with a seating capacity of 8,000 persons (or 10,000 persons in concert configuration), which study entitled the "Indoor Arena Feasibility Analysis: Final Report" (the "Feasibility Analysis") was completed in January 2001, and reviewed and accepted by the City Council; WHEREAS, the proposed indoor arena described in the Feasibility Analysis will constitute both a "regional center" within the meaning of Chapter 35.57 RCW and a "tourism-related facility" within the meaning of Chapter 67.28 RCW; WHEREAS, the City Council has determined that it is in the best interests of the City of Everett and its citizens to take advantage of the provisions of Chapter 35.57 RCW by forming the Everett Public Facilities District to finance, design, construct, operate and maintain the proposed indoor arena described in the Feasibility Analysis(referred to herein as the"Regional Center"); WHEREAS, pursuant to Chapter 35.57 RCW and Ordinance No. 2511-01 and Resolution No. 5030 of the City, the City created the District co-extensive with the boundaries of the City of Everett to finance, design, construct, operate, and maintain the Regional Center; WHEREAS, RCW 35.57.040(1)(d) and RCW 82.14.390, subject to certain restrictions, authorize the District to impose a 0.033 percent (0.033 of 1%) sales and use tax that is deducted from the amount of the sales and use tax otherwise required to be collected and paid over to the Washington State Department of Revenue under Chapters 82.08 and 82.12 RCW, the proceeds