HomeMy WebLinkAboutORD 3421 CITY OF RENTON, WASHINGTON
ORDINANCE N0. 3421
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
CREATING A SPECIAL FUND KNOWN AS "CUMULATIVE
RESERVE FUND # 3421
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, AS FOLLOWS :
SECTION I : There is hereby established and created a
special fund to be known as "Cumulative Reserve Fund # 3421 • Said
fund is created for the specific purpose of construction, installation
and maintenance of trunk sewer lines in the Honey Creek and Kennydale
areas as described in Ordinance No. 3409 , together with any appropriation
for such Cumulative Reserve Fund by the City, and shall be allowed to
accumulate from year to year until sufficient funds have been accumulated,
including any appropriations by the City so determined by its legislative
body, to pay in full for said construction and installation of said
trunk sewer lines .
SECTION II : 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. Any
monies in said Fund at the end of any fiscal year shall not lapse
nor shall the same be a surplus available or which may be used for
any other purpose or purposes than those specified hereinabove.
SECTION III : The terms of this Ordinance shall remain
in effect until such time as the installation and construction of said
trunk sewer lines have been completed and all costs and expenses in
connection therewith have been paid in full ; thereafater the maintenance
i
of said facilities shall become the responsibility of the City of
Renton and adequate funds shall be budgeted therefor, to the extent
of funds being available therefor, in the City's budget from year
to year.
PASSED BY THE CITY COUNCIL this 28th day of April, 1980.
Maxine E. .Motor, Deputy City Clerk
APPROVED BY THE MAYOR this 28th day of April, 1980.
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Barbara . Shinpoch, Mayor _
Approved as to form: ,
Lawrence J. Wa ren, City .Attorney
Date of Publication: May 7, 1980