HomeMy WebLinkAboutRES 1098 ,�, •-
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R�SOLUTIQN NE?, �a�D I'
Z,II�REA:S tha �ity of x�en�ho n heretofore duly passed Orc�i.nance No, Z854 nncter
date of October 6� 1960 fixi.ng the amauzrt of tax ].evies r�cessary to meet the amount
of e stimated e�enses for -Fhe year 1961, 1.ess the total esti.mated revenues from I
so�ces other than ta�tion� inclucting avail.able surplus; and Wf�I�AS said �rdinance
�orovided for an excess mill.age levy in the amA�nt of 2.547 mi11s conti^'g�nt upon
the event tha� certain pendi.ng general obligation bond issuss be approved by the
electorate in tdle ensuing e].ectian; and Wt�REAS said bo�i issue propositi.ons faile8
to receive approval by tne elect,orate at the subsequent general election held on
November 8� 1.960; and I�RFAS the Kin� Caunty taxing authorit3�es �.n certifying and
fa.xi�g the final Renton City tax levy for the yearl961 inadvertently included tl�reizt
said e�ccess md.11.age of 2.5�.7 �.�.is, wh3ch excess mi3lage hoxever is unauthorized;
and �i'�t.EAS it is therefore� proper and in t� publ3c interest and for the �zblie
benefit to est,ablish a special f�nd in the Treasurer's ofPice of the City of Kenton
to impo�nd and hold ali of the mon3.es and funds received from said unauthorized
excess 1:evy� same to be in the approx3.nate amount of �136�50Q.�0� so as to credit
and a�ply same soiel.y on account of the 1962 levy and to decrease and reduce said
levy {1� ncills) oy said aniount of �I36�500.00; NQW THff�E�ORE
BE TT R�'SaI,VED BY Z'!� MAYf}R AND TI� CITY CQT.JI�II, OF '1'HE CITY OF RFi�T�ON AS
�3?�,�JtlS:
SECTION I: �'he foregoing recit�a3s ar�d fir_cii.�;s are hereby fonnd. and
determined to be true and correct ix� a11 respects. It is herebv found to be �i.n
the best interest and for the benefit of the citizens and property owuers of tk� City
of Renton to establish a special fwad for the impoundi.ng of aIl tax re�eer►ues pa�d
to and collected by the City Treasurer of the City of xenton derived from said
unauthorized exce�s mi.Ltage levy of 2.5�.7 mills and to use said £unds during the 1962
budget year and to likewi�e reduce, in preparing and ado�ting said 1962 budget, said
�.5 �d.11 levy by said amount o� �136,�00.00.
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SE�TI�N II: There is hereby esta.blished in th� office of the City Treasurer
a special �'w�d kno�m as t2ae ��City of Reirton Excess ?�ev� FUnd". The City Treasurer
the City o� Renton is t�reby darected to pl,ace in said fund a1.I tax revenues derived
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fram said 1960 e�cess millage levy of 2.5l�� mi3ls� and a11, of such taz revenues
derived therefora� shall be retained in said fund until the lst of January� 19b2 I
and then �ased and ex�ended by the City as znay be provided for in the City�s 1962
l�nnual Budget. Fvrthermore� in prepar� ar�d a dopting said 19b2 ,Annual Budget
tY�e City's 15 mill levy to be decreased and reducecl by said amount af �136,500.(}0
which said amoun� constitutes the unauthar�ized excess miLage.
SECTZON III: Resolutian No. 108b adopted under date of Februar,y 28, 1961�
is �ereby repealed.
PASSID BY THE GITY COIINCIL this���day of June� 1961.
`;�����u-eJ ��,�=��� _
Helmie Nelson, City L'lerk
APPROV�3 BY TH� M,AYOR this�`.��y of Jvne� 1961.
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APPRO� AS TO FOKM:
Gerard M. Shellan� �ity Attorney
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