HomeMy WebLinkAboutRES 3346 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 3 3 4 6
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON,
DECLARING THE INTENTION OF THE CITY COUNCIL TO
REIMBURSE FUND 301 FROM FUNDS DERIVED FROM A FINANCING
CONTRACT FOR EXPENDITURES FOR ENERGY EFFICIENT
LIGHTING AND DIRECTING THE FINANCE & INFORMATION
SYSTEMS ADMINISTRATOR TO MAKE SUCH REIMBURSEMENT
WHEN FUNDS ARE RECEIVED FROM SUCH REFINANCING.
WHEREAS, the City of Renton, Washington (the"Local Agency") reasonably expects to
reimburse the expenditures described herein with the proceeds of a financing contract to be
entered into by the Local Agency; and
WHEREAS, the expenditures with respect to which the Local Agency reasonably expects
to be reimbursed from the proceeds of Reimbursement Obligations will be made from Fund 301,
the Building Construction Fund. The Fund is used to appropriate and track all costs associated
with the acquisition and renovation of Renton's City Hall. The City used these expenditures to
install new energy efficient lighting as recommended by Puget Sound Energy. The lighting
provides better lighting for employees while at the same time using less energy, thereby lowering
lighting, heating and cooling costs. Fewer lights replaced the original lighting and the lighting
provides less heat; and
WHEREAS, the maximum principal amount of Reimbursement Obligations expected to
be issued for the property described above is $278,171.30;
NOW, THEREFORE, the City Council of the City of Renton, Washington, do resolve as
follows:
1. The above findings are true and correct in all respects.
RESOLUTION NO. 3 3 4 6
2. The City Council intends to reimburse Fund 301 from funds derived from a
financing contract for expenditures for energy efficient lighting.
3. The Finance & Information Services Administrator is directed to make such
reimbursement when funds are received from such refinancing.
PASSED BY THE CITY COUNCIL this24th day of August 1998.
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Marilyn J. etpr.
City Clerk
APPROVED BY THE MAYOR this24th day of August , 1998.
ecice-0-0-4. c71;00
Jesse Tanner, Mayor
App ved as to form:
rtAA.r.-12AA"...P?1,444.-"A.12.-0--
Lawrence J. Warren, City Attorney
RES.672:8/24/98
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