A. A substantial modification in the implementation of an adopted bond implementation plan shall not be made except as provided in this section.
B. For purposes of this section, "substantial modification" means any of the following:
1. An increase or decrease in total actual project costs by twenty-five percent or more.
2. An increase or decrease in actual bond costs by twenty-five percent or more.
3. An increase or decrease in actual other revenues by twenty-five percent or more; for projects with other revenues estimated at zero, a substantial modification shall be defined as an increase in "other" (non-bond) revenues of one hundred thousand dollars or more.
4. A delay in a project construction or implementation schedule of twelve months or more.
5. A delay in the scheduled years of sale of bonds of twenty-four months or more caused by changes in municipal bond market conditions or county financial conditions and necessary to maintain commitments to capping the secondary property tax rate for debt service.
6. Any project that is not constructed.
7. Any project that is added to those to be constructed.
8. Any increase or decrease in the project scope that alters the disclosed project benefits.
9. If some but not all proposed bond questions are approved at the special election, the board of supervisors will make any changes to the projects for the approved questions that are necessary because of the failure of another question, and these will be considered "substantial modifications."
C. Cost estimates may vary, up or down, as a project proceeds through planning, design, procurement, contract award, and construction, or through appraisals and negotiations for conservation acquisitions. Variations in cost estimates do not constitute "substantial modifications." "Substantial modifications" relating only to cash amounts may occur pursuant to official action by the board of supervisors, in open session, that establish actual costs through awards of construction contracts, contract amendments or change orders, or approval of a contract for acquisition. Such board actions shall be accompanied by notice that the action will require a bond ordinance amendment.
D. Any substantial modification in the implementation of an adopted bond implementation plan requires a specific amendment to the ordinance that adopted the plan. The ordinance amendment must be enacted by the board of supervisors at a public hearing for which at least fifteen days' prior notice was published in a newspaper of general circulation in the county.
1. Bond ordinance amendments shall be scheduled to coincide with transmittal of the semiannual bond progress reports as required by Section 3.06.060.
3. Substantial modifications of costs, bond funding, or other funding ordinance amendments may be scheduled for the next regular transmission of the semiannual bond progress report, provided the modifications were previously approved by the board of supervisors.
4. All other substantial modifications require amendment of the bond ordinance prior to the substantial modification.
(Ord. 2015-26 § 1 (part), 2015: Ord. 2004-16 § 1 (part), 2004; Ord. 1997-25 § 1 (part), 1997)