5.1 "Road Improvement District" is a mechanism for financing public improvements within public rights of way by assessing benefiting properties.
5.2 "Public Improvements" is defined by RCW 36.88.010; 36.88.015.
5.3 "Assessment Method" is defined as the most fair and equitable method of assessing benefiting properties within the RID. (RCW 36.88.080.)
5.4 "Petition Formation Method" is defined as action initiated by property owners requesting the formation of an RID.
5.5 "Resolution Formation Method" is defined as action taken by the King County Council stating an intent to form an RID.
5.6 "Guaranty Fund" is established by RCW 36.88.20 and King County Resolution 13558 for the purposes of guaranteeing to lenders the payment of interim and/or long term financing
5.7 "Bond Counsel" is defined as legal counsel retained by King County for the purpose of obtaining a legal opinion at the time of obtaining interim financing and/or completing long term financing through the sale of bond anticipation notes and/or municipal bonds.
5.8 "Benefits Appraiser" is defined as a qualified real estate appraiser retained to study the special benefits attributed to property by virtue of improvements made by the road improvement district.
5.9 "Interim financing" is defined as interfund borrowing, interest bearing warrants, and/or Bond Anticipation Notes obtained or issued by King County for the purpose of funding engineering, construction and administrative work pending long term funding.
5.10 "Financial Advisor" is defined as a qualified financial consultant retained by King County to prepare documents and advise on an appropriate funding program relative to issuance of interim financing and/or bonds.
5.11 "Bonds" is defined as municipal bonds as designated by Internal Revenue Code and authorized by 36.88.190.
7.1 PETITION FORMATION METHOD:
Action By: Property Owner
Action:
7.1.1 Requests formal petition from Public Works.
Action By: Public Works
Action:
7.1.2 Reviews with property owner the pertinent documentation for inclusion on the petition.
7.1.3 Discusses with property owner the scope of project, identifying the nature and extent of the improvements and the estimated cost.
7.1.4 Determines proposed benefit area, proposed method of assessment and financing alternatives.
7.1.5 Determines impacts to guaranty fund and funding strategy.
7.1.6 Prepares petition and instructions for collecting signatures.
7.1.6.1 Holds informational meeting to inform property owners of project details and RID process.
Action By: Property Owner
Action:
7.1.7 Circulates petition for signatures and returns signed documents to the Clerk of the King County Council.
Action By: Clerk of Council
Action:
7.1.8 Transmits petition to Public Works for investigation and recommendations.
Action By: Public Works
Action:
7.1.9 Determines sufficiency of petition by verifying property ownership and percentage of signatory owners representing area within the proposed RID and lineal front footage adjacent to improvements.
7.1.10 Prepares draft Motion establishing the County Council's intention to form an RID and setting a date for a public hearing.
7.1.11 Prepares notice of public hearing.
7.1.12 Prepares draft ordinance forming RID.
Action By: Prosecuting Attorney/Bond Counsel/Finance Division
Action:
7.1.13 Reviews and comments on draft motion, hearing notice and ordinance.
Action By: Public Works
Action:
7.1.14 Transmits motion and ordinance to County Council for legislative action.
Action By: County Council
Action:
7.1.15 Introduces motion and schedules committee review of motion notice and ordinance.
Action By: County Council
Action:
7.1.16 Passes Motion of Intention and establishes hearing date.
7.1.17 Introduces formation ordinance.
Action By: Clerk of Council
Action:
7.1.18 Publishes notice of hearing and synopsis of ordinance in official paper twice, fifteen days prior to date of hearing.
7.1.19 Provides Affadivit to Public Works.
7.1.20 Provides notice of hearing to Public Works.
Action By: Public Works
Action:
7.1.21 Prepares notice of public hearing on formation and mails to property owners at least 15 days prior to hearing.
7.1.22 Signs affadavit of mailing.
7.1.23 Prepares responses to objections submitted by property owners within proposed RID.
7.1.24 Tabulates added and deleted signatures to original petition for formation and establishes sufficiency of petition.
7.1.25 Certifies sufficiency of petition and presents certificate to County Council on day of public hearing.
7.1.26 Prepares maps and/or documents defining assessment boundary, method of assessment and preliminary assessments to properties.
Action By: Property Owners
Action:
7.1.27 Provides testimony to County Council pro and con to formation of RID.
Action By: Public Works
Action:
7.1.28 Provides information to County Council on formation of RID.
Action By: County Council
Action:
7.1.29 Makes decision to terminate proceedings or form RID, establishing Assessment boundary, method of assessment, term of assessment, and amount of County participation. Approves formation by Ordinance.
Action By: Public Works
Action:
7.1.30 Notifies title companies of formation of RID and pending preliminary assessment against properties within RID boundary.
7.2 RESOLUTION FORMATION METHOD:
Action By: Public Works
Action:
7.2.1 Discusses scope of project with RID team consisting of Public Works and Finance staff, special counsel, bond counsel, financial advisor and benefits appraiser.
7.2.2 Determines ownerships for property within benefit area.
7.2.3 Prepares preliminary assessment roll.
7.2.4 Prepares draft motion of intention to form, Notice of Intent to form (Hearing), ballot, and draft ordinance.
Action By: Prosecuting Attorney/Bond Counsel/Finance Division
Action:
7.2.5 Reviews and comments on draft motion, hearing notice, ballot and ordinance.
Action By: Public Works
Action:
7.2.6 Transmits Draft Motion, Notice, and Ordinance to Council.
Action By: County Council
Action:
7.2.7 Introduces Motion and schedules Committee review of Draft Motion, Notice and Ordinance.
7.2.8 Passes Motion of Intention and introduces Ordinance.
7.2.9 Sets hearing date for public testimony and results of balloting.
7.2.10 Transmits signed Motion and Notice to Public Works.
7.2.11 Publishes notice of hearing and synopsis of ordinance in official paper, twice, fifteen days prior to date of hearing.
7.2.12 Provides affadavit of publication to Public Works.
7.2.13 Directs Public Works to mail Notice and Ballot, including estimated costs and announcement of informational meeting, to property owners.
Action By: Public Works
Action:
7.2.14 Prepares notice of hearing and instructions for ballot and mails to property owners at least 15 days prior to hearing.
7.2.15 Signs affadavit of mailing.
7.2.16 Holds informational meeting to inform property owners of project details
7.2.17 Prepares responses to objections submitted by property owners within proposed RID.
Action By: Property Owners
Action:
7.2.18 Vote on formation of RID and return ballots to Clerk of Council.
Action By: Clerk of Council
Action:
7.2.19 Time stamps and forwards ballots to Public Works.
Action By: County Council
Action:
7.2.20 Holds public hearing on formation of RID.
7.2.21 Terminates proceedings or establishes assessment boundary, method of assessment, term of assessment, and County participation.
7.2.22 Continues public hearing up to, but not longer than, 15 days after date ballots are due.
Action By: Public Works
Action:
7.2.23 Tabulates ballots and determines sufficiency for formation of RID.
7.2.24 Certifies sufficiency of ballots to County Council.
Action By: County Council
Action:
7.2.25 Makes decision to terminate proceedings or form RID. Approves formation by ordinance.
Action By: Public Works
Action:
7.2.26 Notifies title companies of formation of RID and pending preliminary assessment against properties within RID boundary.
7.3 INTERIM FINANCING:
Action By: Public Works
Action:
7.3.1 Requests interim financing from King County Finance Division.
7.3.2 Determines impact of financing to RID Guaranty fund.
7.3.3 Secures additional funds for Guaranty fund if necessary.
Action By: Finance Division
Action:
7.3.4 Selects Bond Counsel and Financial Advisor.
7.3.5 Works with Financial Advisor to select and obtain financing in coordination with Public Works.
7.3.5 Obtains legal opinion on RID formation from Bond Counsel.
Action By: Public Works
Action:
7.3.6 Provides Bond Counsel with transcript of formation proceedings as required by Bond Counsel.
7.3.7 Invests proceeds from interim financing until needed by project.
7.4 DESIGN AND CONSTRUCTION:
Action By: Public Works
Action:
7.4.1 Performs and/or contracts project design.
7.4.2 Performs and/or contracts project construction engineering and construction.
7.4.3 Tabulates costs and expenses after project completion.
7.5 FINAL ASSESSMENT PROCEEDING:
Action By: Public Works
Action:
7.5.1 Establishes estimated cost to complete RID and prepares final assessment roll.
7.5.2 Prepares draft motion setting date of public hearing for County Council confirmation of assessment roll and notice of hearing.
7.5.3 Prepares draft ordinance confirming final assessment roll and County participation, and authorizing the sale of bonds.
7.5.4 Transmits motion, ordinance and assessment roll to County Council for legislative action.
7.5.5 Prepares map showing property assessments for County Council presentation.
Action By: County Council
Action:
7.5.6 Introduces and schedules committee review of draft motion, notice, ordinance and assessment roll.
Action By: Clerk of Council
Action:
7.5.7 Recommends date of hearing on final assessment roll.
Action By: County Council
Action:
7.5.8 Passes motion setting date of hearing.
Action By: Clerk of Council
Action:
7.5.9 Publishes notice of hearing and synopsis of ordinance in official paper twice, fifteen days prior to date of hearing.
7.5.10 Transmits signed motion and notice to Public Works.
7.5.11 Provides affadavit of publication to Public Works.
Action By: Public Works
Action:
7.5.12 Prepares notice of hearing identifying specific assessment to property.
7.5.13 Mails notice of hearing to owner as identified on tax roll at least 15 days prior to hearing.
7.5.14 Signs affadavit of mailing.
Action By: Property Owner
Action:
7.5.15 Submits written objection of assessment to Clerk of Council by deadline established in notice of hearing and prescribed by law.
Action By: Clerk of Council
Action:
7.5.16 Dates objection and forwards to Public Works for review.
Action By: Public Works
Action:
7.5.17 Prepares responses to property owner objectives.
Action By: County Council
Action:
7.5.18 Holds public hearing on final assessment roll setting as a Board of Equalization having power to revise, adjust and modify assessments as deemed fair and just.
Action By: Property owner
Action:
7.5.19 Presents testimony of objection to assessment to County Council.
Action By: Public Works
Action:
7.5.20 Provides testimony and information on proposed final assessments.
7.5.21 Retains Benefits appraiser to confirm final assessments do not exceed benefits.
Action By: County Council
Action:
7.5.22 Revises assessment roll and confirms assessment roll by passing ordinance.
Action By: Clerk of Council
Action:
7.5.23 Transmits signed ordinance to Public Works.
Action By: Public Works
Action:
7.5.24 Transmits assessment roll and signed ordinance to Office of Finance for collection of assessments.
Action By: Finance Division
Action:
7.5.25 Prepares billing to property owners
7.5.26 Publishes notice of assessment collection.
7.5.27 Provides affadavit of publication to Public Works.
7.5.28 Collects assessment prepay amounts from property owners.
7.6 BOND SALE:
Action By: Finance Division
Action:
7.6.1 Tabulates amount of 30 day prepayment and establishes amount of bonds to be sold.
Action By: Financial Advisor
Action:
7.6.2 Provides advice on structuring the bond sale and prepares official statement.
Action By: Bond Counsel
Action:
7.6.3 Prepares Bond Sale ordinance.
Action By: Public Works
Action:
7.6.4 Provides transcript items of RID proceeding as required by Bond Counsel.
Action By: Finance Division
Action:
7.6.5 Transmits draft Bond Sale ordinance to County Council.
Action By: County Council
Action:
7.6.6 Introduces and schedules committee review of proposed ordinance and approves bond sale ordinance setting date of sale.
Action By: Clerk of Counci
Action:
7.6.7 Publishes notice of bond sale.
7.6.8 Provides affadavit of publication to Bond Counsel.
Action By: Finance Division
Action:
7.6.9 Conducts bond sale with assistance of Bond Council and Financial Advisor certifying to County Council authenticity of bids and recommends institution to be selected.
Action By: County Council
Action:
7.6.10 Approves sale to winning bidder.
Action By: Finance Division
Action:
7.6.11 Conducts closing with assistance of Bond Counsel and signs documents and receives bond proceeds.
7.6.12 Retires interim financing obligation with proceeds from bonds.
Action By: Accounting Service
Action:
7.6.13 Establishes accounting of bonds and bond amounts.
Action By: Finance Division
Action:
7.6.14 Prepares annual assessment billings to property owners, identifying principal, interest and penalties due.
7.6.15 Collects annual assessments.
7.6.16 Calls bonds annually based on assessment proceeds available.
7.6.17 Provides monthly reports on financial status of RID.
8.1 Public Works is responsible for:
8.1.1 Responding to County Council initiated or property owner initiated RID formation proceedings.
8.1.2 Discussing scope of project with RID team.
8.1.3 Obtaining ownership evidence for property within benefit area.
8.1.4 Preparing estimates of project cost.
8.1.5 Preparing preliminary assessment roll.
8.1.6 Preparing draft Motion of Intention, Notice of Adoption of Resolution (Hearing), Ballot, and Draft Ordinance and sending them to legal counsel (Prosecutor and/or Bond) and Director of Finance for review.
8.1.7 Transmitting Draft Motion, Notice, and Ordinance to Council.
8.1.8 Mailing Notice and/or Ballot to property owners including rules of election, estimated cost to each lot, parcel, or tract of land.
8.1.9 Holding informational meetings for property owners.
8.1.10 Signing Affadavits of Mailing.
8.1.11 Providing testimony and certification to County Council on sufficiency of formation documents.
8.1.12 Initiating and coordinating financing activities.
8.1.13 Accomplishing engineering and construction of project.
8.1.14 Maintaining adequate funds in Guaranty fund.
8.1.15 Retaining Benefits Appraiser.
8.1.16 Transmitting RID formation and assessment documents to Legal Counsel for review.
8.1.17 Preparing draft motion setting hearing date, notice of hearing and ordinance on final assessment roll.
8.1.18 Transmitting draft motion, notice and ordinance on final assessments to County Council.
8.1.19 Investing RID funds until needed.
8.1.20 Providing financial accountability for RIDS.
8.1.21 Notifying title companies of formation and providing preliminary assessment roll and subsequent assessment roll modifications.
8.2 The County Council is responsible for:
8.2.1 Scheduling committee review of Draft Resolution, Notice and Ordinance.
8.2.2 Taking legislative action on Motion declaring the intention of the Council to form RID and the formation Ordinance.
8.2.3 Forming RID or terminating formation proceedings.
8.2.4 Scheduling committee review of interim financing ordinance.
8.2.5 Taking legislative action on interim financing ordinance.
8.2.6 Scheduling committee review of final assessment ordinance.
8.2.7 Passing motion establishing date of hearing on final assessment ordinance.
8.2.8 Sitting as a board of equalization and determining final assessments and taking legislative action on final assessment ordinance.
8.2.9 Scheduling committee review of bond sale ordinance.
8.2.10 Taking legislative action on bond sale ordinance.
8.2.11 Issuing assessment district bonds.
8.3 The Clerk of County council is responsible for
8.3.1 Receiving, recording and transmitting petitions, objections and correspondence relative to Council proceedings on RIDS.
8.3.2 Publishing notices relative to Council action on RIDs as prescribed by statutory requirements.
8.3.3 Providing documentation relative to Council action for specific transcript requests by legal counsel.
8.3.4 Transmitting signed legislation to Public Works and Office of Finance.
8.3.5 Directing Public Works to mail notices of hearings and/or ballots.
8.4 Property Owner is responsible for:
8.4.1 Requesting petition from Public Works.
8.4.2 Circulating petition for signatures.
8.4.3 Providing testimony pro and con at formation hearing before County Council.
8.4.4 Providing objections to final assessment at final assessment roll proceedings.
8.4.5 Appealing decisions of County Council as prescribed by law.
8.4.6 Paying assessments in timely manner.
8.5 The Finance Division is responsible for:
8.5.1 Retaining Financial Advisor.
8.5.2 Retaining Bond Counsel.
8.5.3 Selecting and obtaining interim financing vehicle.
8.5.4 Preparing and mailing assessment billings.
8.5.5 Publishing notice of assessment prepay collection period.
8.5.6 Providing affadavit of publication to Public Works.
8.5.7 Collecting assessments.
8.5.8 Accounting of assessment balances including penalties and interest due or paid.
8.5.9 Taking foreclosure action on delinquent accounts.
8.5.10 Preparing draft Bond Ordinance.
8.5.11 Transmitting Bond Ordinance to County Council.
8.5.12 Executing proper documents to finalize bond sale.
8.5.13 Transmitting bonds and receiving proceeds from bond sale.
8.5.14 Providing fiscal accounting of bonds and proceeds.
8.5.15 Calling bonds as required by receipt of assessment payments.
8.5.16 Providing monthly fiscal status of RIDs from formation through final assessment and/or bond call date.
