HomeMy WebLinkAboutORD 3278 . .�. i� , . r .� Y
. ,. � �� �
�� W .. �
't . ��' .
. ' 1�,.� . �
. N
CITY OF REN'TON, WASHINGTON
Ordinance No. 3 2 7 8
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
CREATING AND ESTABLISHING A SPECIAL FUND TO BE
KNOWN AS THE "CUMULATIVE RESERVE FUND FOR
UNEMPLOYMENT COMPENSATION."
THE CITY COUNCIL OF THE CI"fY OF RENTON, WASHINGTON, DO
ORDAIN AS FOLLOWS: -
SECTION I: There is hereby established and created a special fund to
be known as the "Cumulative Reserve Fund No. 111 for Unemployment Compensation
and Purposes Related thereto" and there shall be paid into said fund from time I
to time amounts as m�y be determined by the City Council. Said Fund is hereby
created for the accumulation of funds by the City to meet its obligations under
the law to provide unemployment compensation. '
SECTION II: An appropriation 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 any or all of the aforementioned general
or specified purposes.
SECTION III: All monies in said "CUMULATiVE RESERVE FUND FOR
UNEMPLOYMENT COMPENSATION�AND PLJRPOSES REI:ATED THERETO", may,
. �
on order of the City Council, be invested in proper securities in ��the manner
provided by law, and all interest thereon� shall become a part of and accrued
to the benefit of said Fund. ; �- � � � �' .
SEC?ION IV: The monies in said fund shail 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 ,
any approving vote by the 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 V: This Ordinance shall be effective upon its passage, approvai
r �
►
r .._. + .
r y ' i �� I
• c'• Y � ♦ 4 ��� � �M• I
� i �,,� 7/
• .1�� ��"' . , v:' _ + r � I
and five da s after ublication. I
Y P
'� PASSED BY THE CITY COUNCIL this �8 day of December, I978.
l � II
I �.,-;�/�rt-P.r _- �-�
i rh�x,ia�e�..-�io�`os.,��epiity` City Clerk I
APPROVED BY THE MAYOR this �.g day of �ember, 1978. I
� (c!�✓i���,���,� , .����-�.c,C.���
�, �C.;harles�/. Delaurenti, Mayor
Approved as to farm._ "�' . �
G�� .
Lawrence J. W arren, C;ity I�ttorney � , , �
- �
Date of Publications December 22, 1978 * ' ,
I
. �
` ' , .
. i�
� . , , -
� . _ ; .
. , ` _ �
(
" �
,. �