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Resolution 23-011 establishes TBD Hearing FormationCITY OF SPOKANE VALLEY SPOKANE COUNTY, WASHINGTON RESOLUTION NO. 23-01 I A RESOLUTION OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY, WASHINGTON, SETTING A PUBLIC HEARING REGARDING A PROPOSAL TO ESTABLISH A TRANSPORTATION BENEFIT DISTRICT UNDER CHAPTER 36.73 OF THE REVISED CODE OF WASHINGTON. WHEREAS, the City of Spokane Valley, Spokane County, Washington (the "City") has the responsibility under the Constitution and laws of the State of Washington to maintain the transportation system for the benefit of the public for the purposes of commerce, public safety, and transportation throughout the City; and WHEREAS, the transportation system is the City's largest physical asset and is critical to the community's day-to-day and long-term economic vitality and livability; and WHEREAS, the maintenance and operation of the transportation system requires significant funding to ensure that it does not experience catastrophic failures, which are exponentially more expensive to construct; and WHEREAS, the City Council annually reviews and revises a plan for the maintenance, improvement, and construction of the transportation system; and WHEREAS, the City, like other cities and counties throughout the State of Washington, has limited and decreased revenues available for funding the preservation, maintenance and improvements necessary to provide the public with safe and effective means of motor vehicle transportation; and WHEREAS, the legislature of the State of Washington has created a local transportation toot for cities, by enabling them to form Transportation Benefit Districts ("TBDs"), which are independent taxing districts created for the sole purpose of acquiring, constructing, improving, providing, and funding transportation improvements; and WHEREAS, the City Council may create a TBD by ordinance, following the procedures set forth in chapter 36.73 RCW, which procedures include a public hearing and require that notice of such hearing be published at least once, not less than ten days before the hearing, in a newspaper of general circulation within the proposed TBD; and WHEREAS, the City Council now desires to establish a time and place for a public hearing regarding the formation of such TBD as provided herein; NOW, THEREFORE, be it resolved by the City Council of the City of Spokane Valley, Spokane County, Washington, as follows: Section 1, Establishment of Public HcarfiiLy Date and Tirne. A public hearing shall be held in the Great Room of CenterPlace Regional Event Center, located at 2426 North Discovery Place, Spokane Valley, WA, on the 17th day of October, 2023 at 6.00 p.m. or as soon thereafter as it may be heard, at which time the Spokane Valley City Council shall hear testimony from any person affected by the proposed formation of a TBD within the boundaries of the City of Spokane Valley, for funding the construction, operation, maintenance and preservation of the City transportation system. Notice of said public hearing shall be published in the: Spokane Valley News Herald on October 6th and October 13, 2023. The notice shall specify the functions or activities proposed to be funded by the proposed T131). Following the public hearing held pursuant to this Section 1, the City Council may consider an ordinance establishing a TBD, if the City Council finds such formation to be in the public interest. Section 2. Effective Date, This Resolution shall be effective immediately upon passage and signatures hereto. PASSED by the City Council this 316 day of October, 2023. CITY OF SPOKANE VALLEY, WASIJINGTON Pain Haley, Mayor) ATTEST. Mari Patterson, City Clerk APPROVED ASTO FORM: 45i of the Ci -y - ttorney