011-16 - Resolution - Supporting the 2017-2020 Federal Funding for Tremont Street WideningRESOLUTION NO.011-16
A RESOLUTION OF THE CITY OF PORT ORCHARD, WASHINGTON, SUPPORTING THE
2017-2020 FEDERAL FUNDING CYCLE APPLICATION PROCESS AND THE 2017 STATE
FUNDING CYCLE APPLICATION PROCESS FOR THE TREMONT STREET
WIDENING/GATEWAY PROJECT
WHEREAS, on April 2, 2009, the Kitsap Regional Coordinating Council (KRCC) requested
a letter of support for the Tremont Street Widening/Gateway Project as part of the 2011-2013
Federal Funding Cycle application process; and
WHEREAS, on April 28, 2009, the Port Orchard City Council adopted Resolution No. 004-
09, thereby acknowledging their full support in seeking federal funding through the 2011-2013
Federal Funding Cycle application process; and
WHEREAS, the Tremont Street Widening/Gateway Project is currently "immediately
ready to go" for the Construction Phase, is listed as the No. 1 Project on the current KRCC
Contingency List and the Project must obtain construction funding obligation on or before
September 2018; and
WHEREAS, for the 2017-2020 Federal Funding Cycle, with applications prepared and
submitted in 2016, the City of Port Orchard Public Works Department will submit a Countywide
Funding Application with the Kitsap Regional Coordinating Council and a Regional Funding
Application with the Puget Sound Regional Council; and
WHEREAS, for the 2017-2020 State Funding Cycle, with applications prepared and
submitted in 2016, the City of Port Orchard Public Works Department will submit a Funding
Application with the Transportation Improvement Board; and
WHEREAS, for municipal purposes, the City may become indebted within constitutional
limitations not exceeding one and one-half per centum of the taxable property of the City,
without assent of three -fifths of the voters voting at an election to be held for that purpose.
Nor, in cases requiring such assent, shall the total indebtedness at any time exceed five per
centum on the value of the taxable property and statutorily limited to an indebtedness amount
not exceeding one and one-half percent of the value of the taxable property without the assent
of three -fifths of the voters and with such assent, statutorily limited to a total indebtedness of
two and one-half percent of the value of the taxable property; and
WHEREAS, the City's 2016 assessed valuation is $1,405,166,175, providing for non -
voted debt capacity of $21,077,493 (less non -voted outstanding debt of $825,000), allowing
remaining capacity for non -voted general purposes of $20,252,493 and remaining capacity for
total voted general debt purposes of $34,304,155; and
Resolution No. 011-16
Page 2 of 2
WHEREAS, the City Treasurer will execute a Declaration of Official Intent to Reimburse
Expenditures from Proceeds of Bonds, pursuit to Treasury Regulation §1.150-2 (as it may be
amended or superseded) and Port Orchard Resolution No. 030-13 for the Tremont Street
Widening/Gateway Project; and
WHEREAS, it is the intent of the City to exercise its constitutional and statutory
authority to issue general obligation bonds in an amount considered necessary to complete
funding of the Tremont Street Widening/Gateway Project; now, therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, HEREBY RESOLVES
AS FOLLOWS:
THAT: The City Council fully supports the 2017-2020 Federal Funding Cycle
application process and the 2017 State Funding Cycle application process for
the Tremont Street Widening/Gateway Project, with the intent to finance the
project through the acceptance of grants and the issuance of general obligation
bonds as allowed by law.
PASSED by the City Council of the City of Port Orchard, SIGNED by the Mayor and
attested by the City Clerk in authentication of such passage on this 9th day of February, 2016.
ATTEST:
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City Clerk, Brandy Rinearson, CMC
Robert Putaansuu, Mayor
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