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Ordinance Summary 16-005 City of Spokane Valley 11707 E. Sprague Spokane Valley,WA 99206 (509)921-1000 NOTICE OF ORDINANCE PASSED BY SPOKANE VALLEY CITY COUNCIL The following is the title and summary of Ordinance No. 16-005 passed by the Spokane Valley City Council on the 10th day of May, 2016: AN ORDINANCE OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY, WASHINGTON, AUTHORIZING THE ISSUANCE OF LIMITED TAX GENERAL OBLIGATION BONDS OF THE CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $8,100,000,TO FINANCE COSTS RELATED TO THE CONSTRUCTION, EQUIPPING AND FURNISHING OF A NEW CITY HALL FACILITY AND TO PAY COSTS OF ISSUING THE BONDS; PROVIDING THE FORM, TERMS AND COVENANTS OF THE BONDS; PROVIDING FOR THE DISPOSITION OF THE PROCEEDS OF SALE OF THE BONDS; DELEGATING AUTHORITY TO APPROVE THE FINAL TERMS OF THE BONDS; AND PROVIDING FOR OTHER MATTERS RELATING THERETO. Section 1 addresses definitions and interpretation of terms; Section 2 concerns the authorization of the project; Section 3 concerns the authorization of bonds and bond details; Section 4 addresses registration, exchange and payments; Section 5 speaks to redemption prior to maturity and purchase of bonds; Section 6 speaks to the form of bonds; Section 7 concerns the execution of bonds; Section 8 concerns the Application of Bond Proceeds; Section 9 deals with tax covenants; Section 10 addresses debt service fund and provision for tax levy payments; Section 11 addresses defeasance; Section 12 addresses the sale of bonds; Section 13 addresses the Preliminary and Final Official Statements; Section 14 deals with undertaking to provide ongoing disclosure; Section 15 addresses lost, stolen or destroyed bonds; Section 16 addresses severability/ratification,and Section 17 concerns the effective date. The full text of Ordinance 16-005 is available at the City of Spokane Valley City offices as identified above. A copy will be mailed upon request to the City Clerk. Christine Bainbridge, City Clerk Published: May 13 2016 I certify that I believe the foregoing summary to be a true and complete summary of Ordinance No. 16-005, that the summary provides adequate notice to the public of the entents of this ordinance, and that the original ordinance is on file with the City Clerk. rf 5-6 p� Christine Bainbridge, City Clerk • SUPERIOR COURT of WASHINGTON for SPOKANE COUNTY In the Matter of AFFIDAVIT of PUBLICATION NOTICE OF ORDINANCE PASSED By Spokane Valley City Council NO. Ordinance No. 16-005 LEGAL NOTICE STATE of WASHINGTON County of Spokane MICHAEL HUFFMAN being first duly sworn on oath deposes and says that he is the EDITOR of,the Spokane Valley News Herald,a weekly newspaper.That said newspaper is a legal newspaper and it is now and has been for more than six months prior to the date of publication hereinafter referred to,published in the English language continually as a weekly newspaper in Spokane County, Washington, and it is now and during all of said time was printed in an office maintained at the aforesaid place of publication of said newspaper,which said newspaper had been approved as a legal newspaper by order of the Superior Court of the State of Washington in and for Spokane County.That the following is a true copy of a Legal Notice as it was published in regular issues commencing on the 13th day of May,2016, and ending on the 13th day of May,2016,all dates inclusive, and that such newspaper was regularly distributed to its subscribers during all of said period: City of Spokane Valley 11707 E.Sprague Spokane Valley,WA 99206 (509)921-1000 NOTICE OF ORDINANCE PASSED BY SPOKANE VALLEY CITY COUNCIL The following is the title and summary of Ordinance No.16-005 passed by the Spokane Valley City Council on the 10th ,oB: RIBED and SWORN to before me day of May,2016: AN ORDINANCE OF THE CITY OF This 13th day of May,2016 SPOKANE VALLEY,SPOKANE COUNTY, WASHINGTON, AUTHORIZING THE Q 15 0 0 e g q State of Washington • ISSUANCE OF LIMITED TAX GENERAL ©� QQQ OBLIGATION BONDS OF.THE CITY IN ®®�0 ��E dr County of Spokane ® THE AGGREGATE PRINCIPAL AMOUNT �/j "d OF NOT TO EXCEED$8,100,000,TO® sV FINANCE COSTS RELATED TO THE �/ °" E CONSTRUCTION,EQUIPPING AND FUR- ";e\��j� XA/9eoo v•s I certify that I know or have satisfactory evidence that NISHING OF A NEW CITY HALL FACILITY °� AND TO PAY COSTS OF ISSUING THE CP •�, Michael Huffman is the person who appeared before me, o° o BONDS;PROVIDING THE FORM,TERMS e°� p1 �A�� o and said person acknowledged that he signed this AND COVENANTS OF THE BONDS; :V Vs4 PROVIDING FOR THE DISPOSITION \-/e f�L,� ®¢ instrument and acknowledged it to be his free and • OF THE PROCEEDS OF SALE OF THE e P V e BONDS;DELEGATING AUTHORITY TOP u o voluntary act for the uses and purposes mentioned in the APPROVE THE FINAL TERMS OF THE eo e°e 1® BONDS;AND PROVIDING FOR OTHER °eoo 05-i 6 e m oe instrument. MATTERS RELATING THERETO. ° •',Pi. )�®e°000� ���O //�� Section 1 addresses definitions and inter- �j '°J % 1 1 i pretation of terms;Section 2 concerns. ® F ��7X authorization of the project;Section 3 con- ®Q©®0 0 0 i 18IIB ad i !, cern the authorization of bonds and bond Jolene Rae en z� details;Section 4 addresses registration, exchange and payments;Section 5 speaks, Title:Notary Public to redemption priorto maturity and purchase of bonds;Section 6 speaks to the form of My appointment expires:05-16-2019 l � � -i" v0 bonds;Section 7 concerns the execution of bonds;Section 8 concerns the application /1, - I; , of bond proceeds;Section 9 deals with tax 1 �•VUe---- covenants;Section 10 addresses payments from the debt service fund and provision for tax levy payments;Section 11 addresses defeasance;Section 12 addresses the sale of the bonds;Section 13 addresses the Preliminary and Final Official Statements; Section 14 deals with the City's undertaking to provide ongoing disclosure;Section 15 addresses lost,stolen or destroyed bonds; Section 16 addresses severability/ratifica- don,and Section 17 concerns the effective date.The full text of Ordinance 16-005 is available at the City of Spokane Valley City offices as identified above. A copy will be mailed upon request to the City Clerk. Christine Bainbridge,City Clerk Published:May 13 2016