HomeMy WebLinkAboutORD 4901CITY OF RENTON, WASHINGTON
ORDINANCE NO. 4901
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
APPROPRIATING MONIES FROM VARIOUS FUND BALANCES,
INCREASING THE EXPENDITURES IN VARIOUS FUNDS AND
DEPARTMENTS, AND INCREASING THE 2001 BUDGET.
WHEREAS, the City Council reviewed the fund balances as of December 31,2000; and
WHEREAS, the City has identified several capital expenditures, including the building
of a parking garage for a capital cost of $9,500,000 in addition to borrowing costs; and
WHEREAS, the City has $4,000,000 to dedicate to the parking garage and expects to
borrow the remaining monies needed after the project is designed; and
WHEREAS, the City identifies potential capital needs in other areas of the City; and
WHEREAS, the City Council identifies that we may be facing rebate requirements
associated with Initiative 722 for property tax payments;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION 1. The following funds are hereby amended as follows:
Fund Fund Name
2001 Expenditure
Increase
000
101
103
207
215
316
502
General
Park
Street
Limited Tax General Obligation
Limited Tax General Obligation
Capital Facilities Fund
Insurance Fund
$ 4,500.000
$ 800,000
$ 350.000
$ 160,000
$ 550,000
$ 5,650.000
$ 2,100,000
TOTAL $14,110,000
SECTION II. The monies for the expenditure increases shown in Section I are
derived from available fund balances. The monies in the Insurance Fund are for reserves.
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ORDINANCE NO. 4901
SECTION 111. The uses for these monies shall be as follows:
$4,000,000 as a partial payment for the new Downtown Parking Garage with the
remaining $5,500,000 capital requirements to come from bond proceeds;
$1,500,000 shall be placed in Fund 316, the Capital Fund, for the purpose of future
capital needs in the Highlands community;
$150,000 for the completion of a conference room in City Hall;
$1,500,000 in the Insurance Fund for future reserves; and
$600,000 to be placed in reserve until a final decision is made in regards to any legal
obligations due to Initiative 722.
SECTION IV. In addition, there is one position change. The City Council Liaison
position will increase from its current .6 to a .88 Full Time Equivalent.
SECTION V. This ordinance shall be effective upon its passage, approval, and
five days after publication.
PASSED BY THE CITY COUNCIL this 16th day of April , 2001.
APPROVED BY THE MAYOR this 16th day of April , 2001.
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ORDINANCE NO. 49.01
Approved as to form:
Lawrence J. Warren, City Attorney
Date of Publication: 4/20/2001 (Summary)
ORD.917:4/5/01 :ma
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