HomeMy WebLinkAboutORD 1689�-C _ ORDINANCE /10)
AN ORDINANCE OF THE CITY OF REN -TON, WASHINGTON, ESTABLISHING A
CUMULATIVE RESERVE FUND AND EXPENDITURE THEREOF FOR THE PLAN-
NING AND ACQUISITION OF RECREATIONAL AREAS FOR THE CITY OF REN -
TON IN ACCORDANCE WITH THE PROVI"ION OF CH. 38, SECS. 1 AND 2,
LAWS, 1953, AS HEREAFTER AMENDED AND` PROVIDING FOR APPROPRIAT-
IONS THERETO AND ALLOCATIONS OF PLAT, SUBDIVISION AND DEDICATION
.FEES THERETO.
BE IT ORDAINED BY TRE MAYOR AND THE CITY COUNCIL OF THE CITY OF RENTON:
SECTION 1. A cumulative reserve fund is. hereby established and may be expended as
authorized by the Council for the planning, acquisition, and development of sites
and building, of improvements, tot lots, playgrounds, playfields, parks, athletic
fields, and such other recreational areas as are determined and designated by the
official map and text of the official comprehensive plan, or portions thereof.
SECTION 2. The monies in said fund shall be allowed to accumulate from year to
year an may be enhanced by annual appropriations from the general fund, and at
least fifty (50) per cent of the fees derived by the City from the processing of
pats, subdivisions, and dedications that are specified and collected pursuant to
the Ordinance No. 1688 shall be placed in the cumulative reserve fund herein es-
tablished.
SECTION 3, The monies in said fund shall not be expended for any purpose other
Wa—n that specified herein without an approving vote by a majority of the electors
of the City of Renton at a general or special election voting on a proposal sub-
mitted to the electors to allow other specified uses to be made of said funis.
SECTION 4, This Ordinance shall be in full farce and effect from and after its
passage, approval and publication as required by law.
PASSED BY THE CITY COUNCIL this day of , 1958.
APPROVED BY THE MAYOR this T�day of
ved. as to �122 form�:
Gerardhe an, i.ty K'torney
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