HomeMy WebLinkAboutORD 5213CITY OF RENTON,WASHINGTON
ORDINANCE NO.5213
AN ORDINANCE OF THE CITY OF RENTON,WASHINGTON,
CREATING A BUDGET FOR THE SOUTH LAKE WASHINGTON
INFRASTRUCTURE IMPROVEMENTS PROJECT.
WHEREAS,the City Council passed the City of Renton's 2006 Annual Budget
Ordinance (Ordinance No.5180)on December 12,2005;and
WHEREAS,subsequent to the adoption of the 2006 Annual Budget the City entered into
a development agreement wherein the City committed to certain improvements in the South
Lake Washington Region of the City;and
WHEREAS,it is the City's priority to appropriate funds for this new project to meet the
need of this new circumstance and opportunity for the City;and
WHEREAS,it is the City's priority to provide clear accountability for this project by the
creation ofa new fund within the City's records;
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON,DOES ORDAIN AS FOLLOWS:
SECTIONl A new Capital Project Fund shaH be created,entitled Fund 318,
South Lake Washington Infrastructure Project.The purpose of the fund is to provide accounting
for the South Lake Washington Infrastructure Project.This project is funded by various sources
including REET,sales tax,grants,and General Obligation Bonds that will provide for the design,
construction,labor wages and benefits,and equipment required to implement the project.
SECTIONH.
ORDINANCE NO.5213
The appropriation shan be for the fun life of the project,estimated
to be two years.Accounting and reporting for the project shall be on both a fiscal year basis and
a project life term.
SECTION HI
SECTION IV.
five days after publication.
The authorized appropriation for the project is set at $24,925,587.
This Ordinance shall be effective upon its passage,approval,and
PASSED BY THE CITY COUNCIL this 26th day of_-"J"-"u"""n...""e__-------co,2006.
Bonnie 1.Walton,City Clerk
APPROVED BY THE MAYOR this 26th day of __-'J~u=n~e"'____-',2006.
Approved as to form:
Date ofPubIication:6/30/2006 (summary)
ORD.1271 :6/19/06:ma
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