HomeMy WebLinkAboutResolution 2018-23 07/02/2018 CITY OF SPRINGFIELD, OREGON
RESOLUTION NO. 2018-23
A RESOLUTION REFERRING TO THE VOTERS OF THE CITY A BALLOT MEASURE
AUTHORIZING THE ISSUANCE OF A MAXIMUM OF $10,000,000 OF GENERAL OBLIGATION
BONDS TO FUND PROJECTS TO FIX CITY STREETS.
WHEREAS, ORS 287A.050 authorizes the City to issue general obligation bonds to finance capital
costs upon approval by the electors of the City;
WHEREAS, the City currently has no funded street repair and preservation program, there is an
existing backlog of approximately $35 to $40 million in street repairs, and existing funding is
inadequate to address this backlog;
WHEREAS, fixing City streets through preservation and repair in the near future is less costly than
street reconstruction later on;
WHEREAS, the City Council has determined that the City will benefit from issuing general obligation
bonds to finance projects to fix City streets and reduce the backlog of street repairs;
WHEREAS, street projects funded by this bond measure would include slurry sealing, pavement
overlays, restriping, crack sealing, reconstruction, related improvements, and other projects intended
to extend the useable life of the roadway;
WHEREAS, the City Council has determined that the streets listed in Exhibit B are the highest priority
for repair and, based upon the City's current cost estimates, the City anticipates constructing the first
eight listed projects using bond proceeds;
WHEREAS, no new streets would be constructed, or new City staff hired as a result of this bond
measure;
WHEREAS, if approved by the electors of the City, the City will annually prepare and publish a report
showing projects completed using bond funds;
WHEREAS, the City Council has determined to proceed with referring to the electors of the City a
ballot measure to authorize the issuance of $10,000,000 in general obligation bonds for the purposes
described above;
WHEREAS, ORS 287A.050 limits the amount of general obligation bonds for street improvements and
certain other types of general obligation bonds to three percent of the real market value of taxable
property in the City, and issuing the bonds will not cause the City to exceed this limit;
WHEREAS, the measure is expected to cost an average of $0.50 per $1000 of assessed value each
year for not more than six years, and would cost the average Springfeld homeowner approximately
$79 per year; and
WHEREAS, the City anticipates expending funds to begin fixing streets prior to issuance of the bonds,
and therefore wishes to declare its official intent to reimburse itself from the bond proceeds for any
funds spent on the streets described in this measure under Section 1.150-2 of the U.S. Treasury
regulations,
NOW, THEREFORE, BE 1T RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SPRINGFIELD:
Section 1: The City Council hereby refers to the voters of the City of Springfield at the
General Election on November 6, 2018 a measure authorizing the issuance of a maximum of
$10,000,000 of general obligation bonds for the purpose of fixing city streets.
Section 2: The City Council hereby adopts and certifies the Ballot Title for this measure as
attached in Exhibit A.
Section 3: If approved by the voters at the General Election on November 6, 2018, the
proceeds from this bond measure will be used only to pay capital costs to fix City streets as described
in Exhibit B to this resolution and to pay bond issuance costs.
Section 4: If approved by the voters at the General Election on November 6, 2018, the City
will prepare and publish periodic reports as street projects are completed to document the use of bond
proceeds.
Section 5: Pursuant to ORS 250.275(5) and 250.285, the City Recorder as the City
Elections Officer shall publish in the next available edition of the Register Guard a notice of receipt of
the ballot title including notice that an elector may file a petition for review of the ballot title pursuant
to ORS 250.296 not later than the seventh business day after the title is fled with the City Elections
Officer. The notice shall be in substantially the form attached to this resolution as Exhibit C.
Section 6: The City Recorder, as the Chief Elections Officer of the City, is directed to submit
to the County Clerk for Lane County, Oregon, a statement of the ballot measure, a certified copy of this
Resolution and the Ballot Title, and all other necessary information so that this measure may appear on
the ballot for the November 6, 2018 General Election.
Section 7: The City Manager, the City Recorder, the City Finance Director, and the City
Attorney, and each of them individually, are hereby authorized and directed to prepare and file an
explanatory statement for this measure, and to take such other action as is necessary or appropriate to
carry out the purposes and intent of this Resolution in compliance with the applicable provisions of law.
Section 8: The City hereby declares its official intent to reimburse itself with bond proceeds
for any amounts the City spends for the purpose of fixing City streets described in the measure.
Section 9: This Resolution will take effect immediately upon adoption by the Council and
approval by the Mayor.
ADOPTED by the Common Council of the City of Springfield this 2 day of July 2018,
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RESOLUTION NO. 2018-23
Exhibit A, Page 1 of 1
Exhibit A— Ballot Title Springfield Street Repair GO Bond, 2018
Caption (10 words)
Authorizes general obligation bonds to fix Springfield streets.
Question (20 words)
Shall City of Springfield issue $10,000,000 in general obligation bonds to fix deteriorating city
streets?
If the bonds are approved, they will be payable from taxes on property or property ownership
that are not subject to the limits of sections 11 and lib, Article XI of the Oregon Constitution.
Summary (175 words)
If this measure is approved, City will use bond proceeds to fix Springfield streets. Bond
proceeds will only be used to fix existing streets and pay bond issuance costs. The listed
streets are the City's highest priority for fixing with bond proceeds. See Springfield Resolution
2018-23 for a full list of streets that could be fixed using bond proceeds.
• Olympic St— Mohawk Blvd to 28"St
• Centennial Blvd —Aspen St to Prescott Ln
• Commercial St—42nd west 450 feet
• 42nd St— Main St to IP Entrance
• Thurston Road — 58"St to 69"' St
• 141h St— Main SttoA Stand E SttoG St
• Mohawk Blvd — G St to OR126
• Highbanks Rd and 58th St— 52"' St to Thurston Rd
The City will publish periodic reports to document completed bond projects.
Bonds would be repaid from property taxes for a period not to exceed 6 years. The estimated
rate is $0.50 per $1000 of assessed value, or about $79 per year ($6.58 per month) for the
average Springfield homeowner.
RESOLUTION NO. 2018-23
Exhibit B, Page 1 of 1
Exhibit B— Street Bond Priority Project List
• Olympic Street—Mohawk Blvd to 281"Street
• Centennial Blvd—Aspen Street to Prescott Lane
• Commercial Street-42°d Street west approximately 450 feet
• 420 Street—Main Street to approximately the entrance to International Paper
• Thurston Road-581h Street to 691" Street
• 14t" Street—Main Street to A Street and E Street to G Street
• Mohawk Blvd—G Street to Highway 126
• Highbanks Road and 58" Street-52nd Street to Thurston Road
• Marcola Road-19th Street to the Springfield city limits
• Gateway Street—International Way to the Springfield city limits
• 32nd Street and Jasper Road—Railroad to 42nd Street
RESOLUTION NO. 2018-23
EXHIBIT C
NOTICE OF RECEIPT OF BALLOT TITLE
Notice is hereby given that a ballot title for a measure referred by the City of Springfield has
been filed with the City Elections Officer on July 2, 2018. The ballot title caption is "Authorizes
general obligation bonds to fix Springfield streets." A copy of the ballot title is available from
the City's Elections Officer. An elector may file a petition for review of this ballot title in the
Lane County Circuit Court no later than 5:00 p.m., July 13, 2018 under ORS 250.296.
ag�' -tIZ I IS
Signatde of Cityledions Officer Date signed
A] Rioka City Recorder
Printed name of City Elections Officer Title
This legal notice is to be published by the City Elections Offcer in the Register Guard, or in
another newspaper of general distribution within the City.
RESOLUTION NO. 2018-23