HomeMy WebLinkAboutORD 2516 ' � h �^ r-• M- -•..�,.., i�'��
" ✓ � . � ORDINANCE NO. �.y�,,��
AN ORDINANCE OF THE CITY. OF RENTON, WASHING.TON,
CREATING AND ESTABLISHING A SPECIAL FUND- TO B�
KNOWN AS THE ".CUMULATIVE RESERVE FUND FOR .THE
CONSTRUCTION OF A THEATE.R WITHIN THE CEDAR RIVER
PARK COMMUNITY CENTER, AND PURPOSES IMMEDIAT-ELY
RELATED THERE.TO" . ,
BE IT ORDAINE.D_ BY THE MAYOR AND THE CITY COUNCIL OF THE CITY
. OF RENTON, WASHINGTON, AS FOLLOWS : I
SECTTON I : The City of Renton hereby acknowledges an offer
by "PACIFIC CAR AND FOUNDRY COMPANY FOUNDATION, INC. " of the .sum
of One Hundred Thousand Dollars ($100 ,00 . 00) to be used for th.e
constr,uction of a theater to be located within the C.edar River
Park Community. Cente.r based on the preliminary plans and drawings
of the City, which said offer is hereb.y acknowledged and gratefully
accepted by the City. of Renton. The City, further agrees that the
theater. to. be. :const.ructed within said park shall be. .designated
the 'tCARCO. THEATER" and be marked with a suitable plaque in
recognition of the above donation unto the City of Renton by
"PACIFIC CAR AND FOUNDRY COMPANY FOUN.DATION, INC. rr
The City further agrees. to take immediate steps to provide
appropriate site .de.velopment and landscaping in con.junction with
the construction of said theate.r; and to. develop plans for the
theater and its. const.ruction and all of such work and t.he
constr.uction of the theater to. be .complet.ed by December. 31,
1970 ,. unless delayed beyond the City.'s control.
SECTI.ON II: For. the reasons and purposes he.reinabove
enumerated, there is .hereby established and crea.ted a special
fund to. be known as the '�.CUMULATIVE RESERVE FUND FOR THE CONSTRUCTION
AND ESTABLISHMENT .OF A THEATER WITHIN CEDAR RIVER PARK COMMUN.ITY
CENTER,. TO BE. KNOWN. AS THE 'CARC.O. THEATER"' and there shall be .
paid into said fund the donation in the .sum of. One Hundr.ed
Thousand Doll�ars ($100, 0.00 . 00) as rec.ei.ved or to be received
hereafter from the "PACIFIC CAR AND .FOUNDRY COMPANY. FOUNDATION,
INC. " , together with s.uch .o-�her, funds as may be determined by
the City Council from tilne to- time.
LINTO: CUM. RES. �2516, #4300� Acct. 602 Bldgs. & Improvements--�100,000.00
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Said cumulati.ve .fund is he.r.eby. crea.ted for the .purpose of
designing and constructing a t.heate.r to be known as the "CARCO
THEATER'� based substantially on the plans and designs heretofore
prepared and submit.ted and the aforesaid donation to be used
solely for said purposes.
i An appropriati.on,. 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 sha11 de.termine to. expend the monies in the fund
for the aforementioned sp.ecified . ur oses.
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SECTION III : All monies in said cumulati.ve .re.ser.ve fund
may, on order of the City. Council , be inves.ted in proper
securities in the manner provided by law and a.11 interest and
benefits the.reon shall become a part of said fund.
SECT.ION IV : The monies. in said fund shall be. expended solely II
for. the purposes hereinabo.ve specified. and no monies in said fund I
shall be. expe.nded, for any other purpose or purposes other .than
s.pecifi.ed hereinabove without an approving v.ote by ma�ority of I
the electors of the City of Renton as provided. by law,. except
that the aforesaid donation from "PACIFIC CAR AND FOUNDRY COMPANY
FOUNDATION, INC. " shall be expended only for .the specified pur.pose
of said donation as hereinab.ove .set forth.
SEC�TION" V: This ordinance .shall be. in, full, force and effect
from and after its. passage, approval and legal :�ubl.i,cation. �
PASSED BY. THE CITY COUNCIL this 3rd day of Novem:ber, 1969 , i
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Helmie Nelson, City Clerk
APP.RO.VED BY. THE MAYOR this ��/day of No.vember,� �1969 . ,
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�onald W. Custer, Mayor
Approved s to for .
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Gerard M. Shell�n, City Attorney i
Date of Publication; NQy 'Y j9s� '
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