Everett Public Facilities District 8/23/2018

AMENDED AND RESTATED INTERLOCAL AGREEMENT THIS AMENDED AND RESTATED INTERLOCAL AGREEMENT (this "Agreement") dated as of , 2018, by and between the CITY OF EVERETT, WASHINGTON (the "City"), and the EVERETT PUBLIC FACILITIES DISTRICT, a public facilities district of the State of Washington(the "District"); WITNES SETH: WHEREAS, the City Council of the City, by Ordinance No. 2511-01 and Resolution No. 5030, effective on April 10, 2001, formed the District and approved its governing charter, pursuant to District granted by RCW ch. 35. 57; and WHEREAS, RCW chs. 35.59 and 39.34 authorizes public agencies to enter into agreements for cooperative action; and WHEREAS, the District was formed by the City for the specific purpose of acquiring, constructing, owning, remodeling, maintaining, equipping, re-equipping, repairing, financing, and operating (either directly or by contract) a multi-purpose regional special events center (the "Events Center"); and WHEREAS, the District and the City entered into an Interlocal on January 24, 2007 (the "Annual Contribution Interlocal"), pursuant to which the City agreed to pay the District $500,000 per year to be applied toward payments on the District outstanding indebtedness on the understanding that ownership of the Events Center will transfer to the City on the earlier of February 15, 2036 or the date on which the indebtedness of the District is paid in full; and WHEREAS, the City under the authority of Chapter 67.28 RCW, in EMC 3.64.010 imposes and levies a special excise tax on the sale of or charge made for the furnishing of lodging by a motel, hotel, rooming house, tourist court, trailer camp and granting similar license to use real property under the provisions of Chapter 67.28 RCW, such tax funds ("Hotel/Motel Tax funds") to be used for the purposes of promoting tourism, supporting tourist-related facilities, and other purposes as set forth in Chapter 67.28 RCW; and WHEREAS, the Events Center serves as a tourism-related facility and is a destination for community attractions and entertainment events and attracts tourists and visitors to the City; and WHEREAS, the City and District entered into an Interlocal Agreement, dated February 25, 2002, as amended (the "Hotel/Motel Tax Interlocal Agreement"), pursuant to which the City agreed to distribute $100,000 of Hotel/Motel Tax funds to the District annually on or prior to each February 15 to the earlier of February 15, 2036 or the date on which the indebtedness of the District is paid in full, whichever occurs first; and