HomeMy WebLinkAboutORD 2104FOLLO?dS :
r
®R.iGlh r
ORDINANCE NO Alb
AN ORDINkHCE OF THE CITY OF RENTON, WASI11INGTON, CREATING A SPECIAL
FUND TO BE KNOWN AS TIE "CUMULATIVE RESERVE FUND FOR THE PAYi i,IT,
ACQUISITION AND REPLkCE=-TT OF MOVABLE EQUIPI171,TNT AND ACCESSORIES
OF TIE CITY'S PARK DEPARTMENT"
BE IT ORDAINED BY THE MAYOR AND TIE CITY COUNCIL OF THE, CITY OF R'_,NTON AS
SECTION I: There is hereby established and created a special fund to be
known as the "Cumulative Reserve Fund for the Payment, Acquisition and replacement
of Movable Equipment and Accessories of the City's Park Department's and there shall
be paid into said Fund from time to time amounts to be determined by the City Council,
An item fofi'.9aid Cumulative Reserve Fund may be included annually in the City's budget
and the monies in said Fund shall be allowed to accumulate from year to year until the
City Council shall determine to expend the monies in the Fund for the specified purpose.,
SECTION II: All monies in -maid Cumulative Reserve Fund 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 said Fund.
SECTION III: 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 specified hereinabove without an approving vote by a majority
of the electors of the City of Renton as provided by law.
SECTION IV: This Ordinance shall be in full force and effect from and after
its passage, approval and legal pulication.
PASSED BYYTHE CITY COUNCIL this d7 9i day of July, 1964.
Helmie Nelson, City Clerk
rA
APPROVED BY THE MAYOR this 6 day of July., 1964.
Zak,
nald W. Custer, Mayor
APPROVED AS TO FORM: Charles J. Delaurenti
President Pro -Tem
� 144
Gerard M. Shellan, City Attorney
Date of publication: 7/29/64