048-21 - Ordinance - Amending Ordinance 047-21 Borrowing from Kitsap BankORDINANCE 1V0.048-21
AN ORDINANCE OF THE CITY OF PORT ORCHARD, WASHINGTONI
AMENDING ORDINANCE NO. 047-21, AUTHORIZING ACTIONS RELATED
TO PORT ORCHARD BORROWING FROM KITSAP BANK FOR SECURITY
FOR A LEASEHOLD ON DNR ACQUATIC LANDS FOR THE FUTURE SOUTH
KITSAP COMMUNITY CENTER; PROVIDING FOR SEVERABILITY AND
PUBLICATION; AND SETTING AN EFFECTIVE DATE.
WHEREAS, the City Counci) authorized the Mayor to execute a Purchase and Sale
Agreement for the existing Kitsap Bank Building located at 619 Bay Street (the "Property"); and
WHEREAS, subsequent to the purchase and sale agreement, the Port Orchard City
Council authorized the Mayor to execute an assignment of a Kitsap Bank leasehold on
Washington State Department of Natural Resources ("DNR") owned aquatic -lands, identified as
Kitsap County Tax Parcel No. 262401-1-001-2004% and
WHEREAS, DNR requires security from Port Orchard for the lease in the amount of the
yearly rent; and
WHEREAS, on September 28, 2021, by Ordinance the Council authorized the Mayor to
execute a letter of credit from Kitsap Bank in the amount of $18,000 to meet DNR's
requirements and provide the security for the lease;
WHEREAS, at the request of DNR the letter of credit should be $18,350, and the Council
approves of that amounts
WHEREAS, Port Orchard is authorized by chapters 35A.40 and 39.36 RCW to borrow
money; now, therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, DO ORDAIN AS
FOLLOWS:
SECTION 1. The Port Orchard City Council hereby amends Ordinance No. 047-21 at
Section 1 to authorize the Mayor to obtain from Kitsap Bank a letter of credit for $18,350 to
serve as security for a leasehold on Washinton State Department of Natural Resources owned
aquatic -lands acquired for the for the South Kitsap Community Events Center. The Council
ratifies all prior actions taken consistent with this authorization.
SECTION
2. Severabil,�r. If any section, sentence, clause or phrase of this Ordinance
should be held to be unconstitutional or unlawful by a court of competent jurisdiction, such
invalidity or unconstitutionality shall not affect the validity or constitutionality of any other
section, sentence, clause or phrase of this Ordinance.
Ordinance No, 048-21
Page 2 of 2
SECTION 3. Publication, This Ordinance shall be published by an approved summary
consisting of the title.
SECTION 4. Effective Date. This Ordinance shall take effect and be in full force and
effect five days after publication, as provided by law.
PASSED by the City Council of the City of Port Orchard, APPROVED by the Mayor and
attested by the Clerk in authentication of such passage this 12th day of October 2021.
ATTEST:
Brandy Rinearson, MMC, City Clerk
APPROVED AS TO FORM:
f
Charlotte A. Archer, City Attorney
PUBLISHED: October 15, 2021
EFFECTIVE DATE: October 20, 2021
Robert Putaansuu, Mayor
SPONSOR:
John Clauson, Councilmember