HomeMy WebLinkAboutORD 3484 -,y Fig/
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'„+4".',.'I'll%* � CITY OF RENTON, WASHINGTON
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ORDINANCE NO; 3484II
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r. AN ORDINANCE of the °City ',.,o;-',P,::-i'-,�..,,,I'.
f Renton, Washington,
amending Ordinance N.o 3399 ':passed and approved
' A February 4, ;, 1980, relating to the issuance and ,
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x sale of $6.,1606,OOO. .par value':of "Unlimited Ta'x
,+ Geeral'. Obl.igaton Park1.1
Bonds, .1980 , Series A. "
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THE; CITY COUNCIL OF ,THE 'CITY SOF ''TRENTON, ' WASHINGTON, DO'
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a ORDAIN, as follows �, '
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f4. Sect�an` 1. Sectaon' 5' o Ordinance Ido. 3'399 passed avid
i. ,�y approved,'Febuary, 4, 2980, Zs amended to read as foI.11ows
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he, B, nd Tund �s hereb created and establ11ished' in
1',� Section 5 Y
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u ''-_IV.I the office of- the City ;,Fzriance Director The accrued interest and
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premium I.re,
ce ved,' zf any, upon the' sale and delivery of the Bo'
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'' �4=11 shall be' paid �ntr� the Bond Fund There is hereby also ..crea.ted'and
established in the office of the City treasurer a special fund ,:t,.,,,',i_'.,I—'���,,.��l--
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be known and designated as' the:; "Gene Coulon Memorial Beach Park
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Construction Fund" ofth `City) Thetprincpal :proceeds received
from the' sale and delivery of the Bonds shall be paid into the '
,, ".G.ene Coulon;,;Memor al 'Beach Park.,Construct on Fund and used' for:'
the purposes :specified �n''.Section1. it of this Ordinance and to` pay ,
he .costs of ssuanceand saleof;nthe Bonds Pending the eXpendi
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ture thereof, the princip& proceeds deposited /into _the "Gene
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Coulon Memorial Beach „Park COnstructlon Fund” may 'be � invested iri
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3>, ,[ any legal investment, ;and ,the �.nvestment earnings therefrom may be
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v' ,".,. `l.` 6 % = h r .4 i�,�,"9 1�,C a� Il: A i >+t it�f�'�
n s�+ �t-{ x - - Y. f xs '# a t n .�1 'r aY:"+ t p
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retained in such':fund and _itexpended and' used for the purposes of ':
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h fund All taxes collected ,for, and allocated 'to . the payment
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of the .principal of and interest on the Bonds shall hereafter be
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,, r fx ,� deposited 1n'lthe _Bona Fund Peftding the receipt of t11he proceed1. Is
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q from the issuance of the Bonds,:}��nterest bearing warraIt,nts may be
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drawn on the �1Gene .Coulon.;Memo�cia] Beach Park ,:Const'ruction Fund"
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toI provide 'interim fu"rids `io pay such costs, such loan to be repaid
3, .from the proceeds re ei.ved„ from the issuance of the Bonds
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Section' 2 ' � effect from'"and
This ordinance shall' take
z after its; Rassage and five ( ) days following its pI.
ublication as
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required by law.
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'`PASSED .by' the City Council of the City of Renton, wash .
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,, ington, at a rerrular open', public meeting thereof, this lothday
o`f November,' 198;06
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DELORES A MEA C' Cler
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1. IAPPROVED by the Mayor this '10th =. day'of i�tovember, 19 8 0
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BARA Y. HiNPOC Mayor
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FORM APPROVED 1f ,
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{ City Attorn1.ey. �, 1.I.il 41:1 '
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Date(, ofr Publ3�ati.on. November 19, 1980 ,
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