Chapter 2.52
TRANSPORTATION BENEFIT DISTRICT

Sections:

2.52.010    Assumption of the Bridgeport transportation benefit district.

2.52.020    TBD governing board abolished.

2.52.030    Debts and obligations.

*    Prior legislation: Ord. 669.

2.52.010 Assumption of the Bridgeport transportation benefit district.

The city hereby assumes all the rights, powers, functions, and obligations of the BTBD and by this action the BTBD will cease to exist as a separate entity.

A.    The rights, powers, immunities, functions, and obligations of the BTBD are hereby assumed by the city of Bridgeport (“city”) which is hereby vested with every right, power, immunity, function, and obligation currently granted to or possessed by the TBD.

B.    All existing contracts and obligations of the BTBD (if any) shall remain in full force and effect and shall be performed by the city.

C.    All rules and regulations and all pending business before the BTBD shall be continued and acted upon by the city.

D.    All reports, documents, surveys, books, records, files, papers, or other writings relating to the administration of powers, duties and functions transferred pursuant to this chapter and available to the BTBD shall be made available to the city.

E.    All funds, credits, or other assets (if any) held in connection with powers, duties, and functions transferred pursuant to this chapter shall be assigned to the city.

F.    Any appropriations or federal grants made out to the BTBD for the purpose of carrying out the rights, powers, functions and obligations authorized to be assumed by the city pursuant to this chapter, on the effective date of the ordinance codified in this chapter, shall be credited to the city for the purpose of carrying out such transferred rights, powers, functions and obligations. (Ord. 714 § 2, 2021)

2.52.020 TBD governing board abolished.

Immediately following the assumption of the BTBD by the city, the BTBD board of directors is abolished as required by RCW 36.74.030(2). (Ord. 714 § 3, 2021)

2.52.030 Debts and obligations.

The city hereby assumes and agrees to provide for the payment of all of the indebtedness of the transportation benefit district, including the payment and retirement of outstanding general obligation and revenue bonds issued by the transportation benefit district should any exist. (Ord. 714 § 4, 2021)