HomeMy WebLinkAboutORD 3467 CITY OF PENTON , WASHINGTON
ORDINANCE NO • 3467
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
CREATING A SPECIAL FUND KNOWN AS "CUMULATIVE
RESERVE FUND NO. 3467"
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 No . 3467"
Said fund is created for the specific purpose of a reserve for
funding insurance contributions . Appropriation into said fund shall
be from savings in insurance and/or differences from budgeted insurance
payments .
SECTION II : The monies in said fund shall be expended
solely for the purpose hereinabove specified and no monies in said Fund
shall be expended for any other purpose or purposes other than those
specified hereinabove without approval of the Renton City Council .
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 other than those specified hereinabove .
SECTION III : The terms of this Ordinance shall remain in
effect until further action by the Renton City Council .
SECTION IV: This Ordinance shall be effective upon its
passage , approval and five days after its publication.
PASSED BY THE CITY COUNCIL this 25t1, day of August , 1980 .
De ores A. Mead, Ci v Clerk
APPROVED BY THE MAYOR this 2jth day of August , 1980 .
Imp G —
Barbara Y. Szinpoc -, Mayor
Approved as to form:
Lawrence J . Warren, City Attorney
Date of Publication: September 3, 1';30