HomeMy WebLinkAbout1807ORDINANCE NO. 1W
AN ORDINANCE of the City of Kent, Wash-
ington, creating a Park Forward Thrust Fund
in the office of the City Treasurer, for the
reception of all funds for Park Forward Thrust
projects and for payment therefrom for all
approved purposes.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. The City of Kent, Washington, shall create
a Park Forward Thrust Fund in the Office of the City Treasurer f
the receipt of all funds for acquisition and development of ap-
proved Park Forward Thrust projects. Payment for all project
costs are to come from such funds.
Section 2. In the event that sufficient cash is not on
hand to pay current construction or acquisition costs, the City
Treasurer is hereby authorized to issue interest bearing warrants
for interim financing purposes, since it is recognized that pay-
ments to vendors and contractors must be made, prior to submittal
to other federal and state agencies for reimbursement.
Section 3. Since all costs of acquisition and develop-
ment will ultimately be transferred to the General Fixed Asset
group of accounts in the Park fund, and further that ownership
will vest in the Park fund, it is agreed that all interest bearin
warrants issued by the Park Forward Thrust fund for approved pur-
poses will be guaranteed for payment by the City Park Fund, i.e.,
the general funds of the City.
Section 4. This Ordinance shall take effect and be in
force five (5) days from and after its passage, approval and
publication, as provided by law.
ISABEL HOGAN, MAYOR--
-1-
ATTEST:
MARIE JENSEN ity Cle k
A PROVED AS TO FORM:
IJONALD E. MIRK, City Attorney
PASSED the day of December, 1972.
APPROVED the day of December, 1972.
PUBLISHED the day of December, 1972.
I hereby certify that this is a true copy of Ordinance
No. � , passed by the City Council of the City of Kent,
Washington, and approved by the Mayor of the City of Kent as here-
on indicated.
� _ 2 -Z" ` ��'::4 (SEAL)
MARIE JENSi N, CITY CLERK
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