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Capital Facilities <br />a. CapitaJ improvements tinanced by County enterprise funds (i.e., solid waste) shall be <br />financed by: <br />1. Debt to be repaid by user fees and charges and/or connection or capacity fees for <br />enterprise services. <br />2. Current assets (i.e., reserves, equity or surpluses, and current revenue, including <br />grants, loans, donations and interlocal agreements). <br />3. A combination of debt and current assets. <br />b. Capital improvements financed by non-enterprise funds shall be financed from either <br />current assets: (i.e., current revenue, fund equity and reserves), or debt, or a combination <br />thereof. Financing decisions shall include consideration for which funding source <br />(current assets, debt, or both) wi11 be a) most cost effective, b) consistent with prudent <br />asset and liability management, c) appropriate to the useful life of the project(s) to be <br />financed, and d} the most efficient use of the County's ability to borrow funds. <br />c. Debt financing shall not be used to provide more capacity than is needed within the <br />schedule of capital improvements for non-enterprise public facilities unless one of the <br />following conditions are met: <br />1. The excess capacity is an integral part of a capital improvement that is needed to <br />achieve or maintain standards for levels of service (i.e., the minimum capacity of <br />a capital project is larger than the capacity required to provide the level of <br />service). <br />2. The excess capacity provides economies of scale making it less expensive than a <br />comparable amount of capacity if acquired at a later date. <br />3. The asset acquired is lend that is envirommmtaJiy sensitive, or designated by the <br />County as necessary for conservation, or recreation. <br />4. The excess capacity is part of a capital project financed by general obligation <br />bonds approved by refere-ndum. <br />GPO 5.14 Operating and Maintenance Costs. The County shall not provide a public facility, nor <br />shall it accept the provision of a public facility by others, if the County or other provider is unable <br />to pay for the subsequent annual operating and maintenance costs of the facility. <br />GPO 5.15 Revenues Requiring Referendwn. In the event that sources of revenue require voter <br />approval in a local referendum that has not been held, and a referendum is not held, or is held and <br />is not successful, this Comprehensive Plan shall be revised at the next annual amendment to <br />adjust for the lack ofsuch revenues, in any of the following ways: <br />a. Reduce the level of service for one or more public facilities. <br />b. Increase the use of other sources of revenue. <br />c. Decrease the cost, and therefore the quality of some types of public facilities while <br />retaining the quantity of the facilities that is inherent in the standard for level of service. <br />d. Decrease the demand for and subsequent use of capital facilities. <br />e. Combination of the above alternatives. <br />GPO 5.16 Uncommitted Revenue. All development pennits issued by the County which require <br />capital improvements that wilJ be financed by sources of revenue which have not been approved <br />or implemented (such as future debt requiring referenda) shall be conditioned on the approval or <br />implementation of the indicated revenue sources, or the substitution of a comparable amount of <br />revenue from existing sources. <br />GPO S.17 Shared Funding. The County and Cities may jointly sponsor the fonnation of Local <br />Improvement Districts, Road Improvement Districts, and other benefit areas for the construction <br />or reconstruction of infrastructure to a common standard. which are located in the City and the <br />Urban Growth Areas. <br />Kittitas County <br />Comprehensive Plan 5•11 <br />December 2016