Chapter 12.35
TRANSPORTATION BENEFIT DISTRICT
Sections:
12.35.010 Establishing transportation benefit district.
12.35.030 Transportation improvements funded.
12.35.040 Establishment of revenue sources.
12.35.050 Dissolution of district.
12.35.010 Establishing transportation benefit district.
There is created a transportation benefit district with geographical boundaries comprised of the corporate limits of the city as they currently exist or as they may exist following future annexations. (Ord. 983 § 2, 2008)
12.35.020 Governing body.
A. The governing body of the transportation benefit district shall be the Lake Forest Park city council, which shall have the authority to exercise the statutory powers set forth in Chapter 36.73 RCW.
B. The treasurer of the transportation benefit district shall be the city finance director.
C. The governing body shall develop a material change policy to address major plan changes that affect project delivery or the ability to finance the plan, pursuant to the requirements set forth in RCW 36.73.160(1).
D. The governing body shall issue an annual report, pursuant to the requirements of RCW 36.73.160(2). (Ord. 1107 § 3, 2015; Ord. 983 § 2, 2008)
12.35.030 Transportation improvements funded.
The funds generated by the transportation benefit district shall be used for transportation improvements that preserve and maintain the transportation infrastructure of the city, consistent with the requirements of Chapter 36.73 RCW. The transportation improvements funded by the district shall preserve and maintain the city’s previous investments in the transportation infrastructure, reduce the risk of transportation facility failure, improve safety, continue the cost-effectiveness of the city’s infrastructure investments, and continue the optimal performance of the transportation system. (Ord. 983 § 2, 2008)
12.35.040 Establishment of revenue sources.
The board shall have the authority to establish fees and other revenue sources consistent with RCW 36.73.065. (Ord. 983 § 2, 2008)
12.35.050 Dissolution of district.
The transportation benefit district shall be dissolved when all indebtedness of the district has been retired and when all of the district’s anticipated responsibilities have been satisfied. (Ord. 983 § 2, 2008)