HomeMy WebLinkAboutORD 3661 Ori d �(a64
CITY OF RENTON, WASHINGTON
ORDINANCE NO. 3661
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
CREATING A SPECIAL FUND KNOWN AS "CUMULATIVE
RESERVE FUND NO. 3661 " AND PROVIDING FOR THE
APPROPRIATION AND TRANSFER OF FUNDS
THE CITY COUNCIL OF THE CITY OF REFTON, WASHINGTON, DO
ORDAIN AS FOLLOWS :
SECTION I : There is hereby established and created a
special fund to be known as "Cumulative Reserve Fund No. 3661 " .
Said fund is created for the purpose of segregating monies ^
received from the one-quarter (1/4) percent excise tax on
the sale of real estate authorized by Ordinance No . 3649 .
SECTION II : The monies in said fund shall be expended
solely for municipal capital improvements which shall include,
but not be limited to those improvements indicated in RC1
35 .43 . 040. The administration shall prepare and forward to
the Council for approval a listing of the capital improvement
projects for which it intends to use such money held in this
Cumulative Reserve Fund, listing the Projects in order of
priority. The Council shall approve the listing, or modify
the listing for approval before any monies in this fund may
be spent on any capital improvement project. Any monies in
said fund at the end of any fiscal year shall not lapse nor
shall the same be a surplus available for any purpose other
than those specified herein.
SECTION III . , The provisions of Sections I and II of this
Ordinance shall remain in effect until further action by the
Renton City Council .
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SECTION IV: This Ordinance shall be effective upon its
passage, approval and five days after its publication.
PASSED BY THE CITY COUNCIL this 27 day of September, 1982 .
Maxine Motor, Acting City Clerk
APPROVED BY THE MAYOR this 27 day of September, 1982.
Barbara .— npoc , r1ayor
Approved as to form:
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Lawrence J. War en, City Attorney
Date of Publication: October 1, 1982
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