AN ORDINANCE relating to financing the design of improvements to the Airport over Argo Bridge; authorizing the Director of Transportation to execute a Public Works Trust Fund Loan Agreement with the Washington State Public Works Board for design of the replacement of the bridge approaches and deck; authorizing the acceptance of the Public Works Trust Fund proceeds and the incurring of indebtedness; changing an appropriation; amending the Adopted 2009-2014 Capital Improvement Program; and ratifying and confirming certain acts; all by a three-fourths vote of the City Council.

WHEREAS, the Mayor has proposed and the City Council has approved, a 2009 Budget and 2009-2014 Capital Improvement Program that includes design and construction activities for the Bridge Rehabilitation and Replacement program; and

WHEREAS, the Airport Way South Viaduct structure carries Airport Way South over the Argo Railroad Yard and is a heavily traveled route for freight traffic in the area; and

WHEREAS, severe deterioration and shear cracks have developed on the structure; the bridge's load rating was re-evaluated and it was determined that Legal Overloads should be restricted from using the bridge and that trucks should only travel along the outside lanes of the bridge; and

WHEREAS, the City of Seattle has been awarded a $1.0 million Public Works Trust Fund loan for design activities associated with the Airport Way South Viaduct, and the Public Works Trust Fund Loan is a low-cost financing mechanism with an interest rate of one-half percent, which is much lower than the current rates for Limited Tax General Obligation Bonds; NOW, THEREFORE,

BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:

Section 1. The Director of Transportation is hereby authorized to enter into an agreement with the Washington State Public Works Board for a Public Works Trust Fund loan not to exceed One Million Dollars ($1,000,000) for design of the replacement of approaches and deck to the Airport over Argo Bridge. The loan funds, when received, shall be deposited into the Transportation Fund, External Advance Subfund (10391) as reimbursement for the appropriation made in Section 2 hereof. The loan funds shall be repaid on a schedule agreed upon between the Director of Transportation and the Washington State Public Works Board, with a term from one to twenty years and a maximum annual interest of one-half percent (1/2%). The full faith and credit of the City is pledged to the repayment of this indebtedness, should the loan funds be received.

Section 2. Contingent upon the execution of the agreement authorized in Section 1, and in order to pay for necessary capital costs and expenses for which insufficient appropriations were made, the appropriation for the following item in the 2009 Budget is increased from the fund shown, as follows:

Fund Department Budget Control Level Amount Transportation Seattle Major Maintenance/ $1,000,000 Operating Fund Department of Replacement (19001) (10310) Transportation

Section 3: For the following project in the 2009-2014 Adopted Capital Improvement Program as amended by ordinance, the dollar amount shown as Spending Plan in the 2009 column is hereby amended as follows:

Department Project Name Project ID 2009 Amount (in Code $1,000s)

Seattle Bridge Rehabilitation TC366850 15,825 Department of and Replacement 16,825 Transportation

This amendment shall operate for the purpose of increasing the base for the limit imposed by Subsection 4(c) of Ordinance 122863.

Section 4. Any act consistent with the authority of this ordinance taken after its passage and prior to its effective date is hereby ratified and confirmed.

Section 5. In accordance with RCW 35.32A.060, the foregoing appropriations are made to meet actual necessary expenditures of the City for which insufficient appropriations have been made due to causes that could not reasonably have been foreseen at the time of the making of the 2009 Budget.

Section 6. This ordinance shall take effect and be in force thirty (30) days from and after its approval by the Mayor, but if not approved and returned by the Mayor within ten (10) days after presentation, it shall take effect as provided by Municipal Code Section 1.04.020.

Passed by a three-fourths (3/4) vote of all the members of the City Council the ____ day of ________________________, 2009, and signed by me in open session in authentication of its passage this _____ day of ___________________, 2009. _________________________________ President __________of the City Council

Approved by me this ____ day of _____________________, 2009. _________________________________ Gregory J. Nickels, Mayor

Filed by me this ____ day of __________________________, 2009. ____________________________________ City Clerk

March 3, 2009 Version #5a