HomeMy WebLinkAboutOrd 0181 - Cumulative Reserve Water System Fund (Repealed by Ord 569)ORDINANCE NO 181
REPEALED BY ORD 569
AN ORDINANCE PROVIDING FOR THE CREATION OF A FUND TO BE KNOWN
AS, CUMULATIVE RESERVE WATER SYSTEM FUND
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF TUKWILA,
KING COUNTY, WASHINGTON, AS FOLLOWS
SECTION 1, There is hereby created and established a fund
to be designated as "Cumulative Reserve Water System Fund pur-
suant to the provisions of Chapter sixty(60) of the Washington
Laws of 1941.
SECTION 2.. That for the purpose of starting said Fund the
sum of FIVE THOUSAND (65000.00) DOLLARS, as allowed by the Town
budget for the year 1948 for replacement shall be placed in
the "Cumulative Reserve Water System Fund
SECTION 3.. Also for the purpose of accumulating said Fund,
the Town Council shall be and is hereby authorized to appropri-
ate each year, for a period of ten (10) years, at the time of
making and adoption of the budget of said Town, an additional
item of moneys not to exceed the amount which would be produced
by a levy of three (3) mills upon the assessed valuation of the
Town, and to include said item in the said annual budget, and to
make a tax levy within the limits and as authorized by law for
said Fund.
SECTION 4. That the money placed in said Fund shall be accu-
mulated from year to year and may be expended at such time as the
Town Council shall, by resolution, direct, for the Extension, Re-
placement,, Repair and Maintenance of the Town Water System.
SECTION 5.: That any moneys in said Fund shall never be ex-
pended for any other purpose than that so specified in Section 4
herein, without an approving vote by a majority of the electors
of the Town of Tukwila at a general or special election, voting
on a proposal submitted to the electors to allow other specified
uses to be made of said Fund.
SECTION 6. This Ordinance shall take full force and effect
five (5) days from and after its passage, approval and posting
as provided by law.
Passed by the Council and approved by the Mayor this 1st day
of March 1948
Mayor Chas O. Baker
City Clerk Lois T. Newton