HomeMy WebLinkAboutORD 1990FOLLOWS:
ORDINANCE NO / Ly
AN ORDINANCE OF THE CITY OF REND N, WASHINGTON, CREATING A SPECIAL
FUND TO BE KNOWN AS THE "CUMULATIVE RESERVE FUND FOR THE PAYMENT
OF ELECTRIC ENERGY, LAMPS AND OTHER PARTS REPLACEMENT, AND NECESSARY
MAINTENANCE AND REPAIR OF THE LIGHTING SYSTEM AT THE LIBERTY PARK
BALL FIELD"
BE IT ORDAINED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF RENTON AS
SECTION I: There is hereby established and created a special fund to be
known as the Cumulative Reserve Fund for the Payment of Electric Energy, Lamps and
Other Parts Replacement, and Necessary Maintenance and Repair of the Lighting System at
the Liberty Park Ball Field", 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 the monies in said Fund may be allowed
to accumulate from year to year until the City Council shall determine to expend the
monies in the Fund for the specified purpose.
SECTION II: All monies in said "Cumulative Reserve Fund for the Payment of
Electric Energy, Lamps and Other Parts Replacement, and Necessary Maintenance and Repair
of the Lighting System at the Liberty Park Ball Field" may, on order of the eity Council,
be invested 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
hereinabove specified and no monies in said Fund shall be expended for any other purpose or
purposes other than those specified hereinabove without an approving vote by a majority of
the electors of the,City of Renton as provided by law.
SECTION IV: This Ordinance shall be in full force and effect from and after
i is passage, approval and legal publication.
PASSED BY THE CITY COUNCIL this 25th day of February, 1963.
Helmie Nelson, City Clerk
APPROVED BY THE MAYOR this 25th day of February; --19
t, Mayor PRo
APPROVED AS TO FORM:
Gerard M. Shellan, City Attorney
rl - 11: CF FtJ - L I CA i l CN FEB 271963