HomeMy WebLinkAboutORD 1975r/1070mmm
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FOLLOWS:
ORDINANCE NO. / I /
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, CREATING A SPECIAL
FUND TO BE KNOWN AS THE "CUMULATIVE RESERVE FUND FOR THE ACQUISITION
OF A PUBLIC LIBRARY SITE, CONSTRUCTION OF A PUBLIC LIBRARY, AND
ACQUISITION OF MATERIALS, SUPPLIES, AND FURNISHINGS FOR A PUBLIC
LIBRARY, AND IMPROVEMENTS, REPAIRS, ADDITIONS AND ALTERATIONS OF
LIBRARY PROPERTIES AND APPURTENANCES THERETO, TOGETHER WITH PAYMENT
OF CONSULTANTS AND EXPENS SERVICES RELATIVE TO THE FOREGOING PURPOSES."
BE IT ORDAINED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF.RENTON AS
SECTION I: Pursuant,to the provisions of RCW 35.21.070 et seq., there is
hereby established and cmted a special fund to be known as the "Cumulative Reserve
Fund for the Acquisition of a Public Libary Site, Construction of a Public Library
and Acquisition of Materials, Supplies, and Furnishings for a Public Library, and
Improvements, Repairs, Additions and Alterations of Libary Properties and Appurtenances
Thereto, Together with -Payment of Consultants and Experts Services, Relative to the
Foregoing Purposes" and there shall be paid into said Fund from time to time amounts
to be determined by the City Council. An item for said Cumulative Reserve Fund may
be included annually in the City's Budget and a tax levy made therefor within the
limits and as authorized by law for said item. All monies in said Fund may be allowed
to accumulate from year to year until the Board of Trustees of the City's Public
Libary shall determine to expend the monies in the Fund for the purposes and uses
specified therein.
SECTION II: All monies in the,`afordsai.d)Cumulative Reserve Fund may be in-
vested in proper securities in the manner provided by law and all interest thereon
shall become part of said Fund.
SECTION III: The monies in said fund shall be expended solely for the
purposes specified therein, to -wit: the acquisition and improvement of a suitable
and proper site for a new library building, for the construction of such building
and the purchase and acquisition of supplies, materials, furnishings and incidentals
usually used in or belonging to such a library building, including the maintenance,
repairs, alterations, substitutions or additions to such library facilities whether
it be real property, personal property or mixed together with all necessary expenditures
in connection with such acquisition of site and the construction of improvements
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thereon and the payment of consultant and expert fees in connection therewith. No
monies in said fund shall be expended for any other purpose or purposes other than
those specified without an approving vote by a majority of the electors of the City
as provided by law.
SECTION IV: This Ordinance shall be in full force and effect from,and after
its passage, approval and publication.
PASSED BY THE CITY COUNCIL this %qday of , 1962.
Helmie Nelson, City Clerk
APPROVED AS TO FORM:
Gerard M. Shellan, City Attorney
Date of Publication without signature of Mayor -September 12, 1962.
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