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HomeMy WebLinkAbout4680 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 ORDINANCE NO. 4 6 8 0 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, APPROVING THE ESTABLISHMENT OF A SEPARATE FUND 122 WHICH IS PRESENTLY KNOWN AS A "CUMULATIVE RESERVE" FUND. WHEREAS, Ordinance No. 3989, approved July 16, 1984, dissolved various city reserve funds into a General Government Capital Reserve account in the General Fund; and WHEREAS, Ordinance No. 4223, approved July 6, 1987, dissolved the General Government Capital Reserve and transferred the funds to an Undesignated General Fund account; and WHEREAS, Ordinance No. 4251, approved December 7, 1987, transferred fire station proceeds to the Undesignated General Fund account; and WHEREAS, Ordinance No. adopted the 1989 budget and 4316, approved November 21, 1988, listed a Special Reserve Fund 122 with some funds from the Undesignated General Fund, known as the GO Bond Fund Contingency, which fund was intended to be used as a "rainy day" fund for unforeseen expenditures; and WHEREAS, Ordinance No. 4387, approved December 4, 1989, adopted the 1990 budget wherein Special Revenue Fund 122 became known as a "Contingency" fund; and WHEREAS, Ordinance No. 4473, approved December 17, 1990, adopted the 1991 budget wherein Special Revenue Fund 122 remained known as a "Contingency" fund; and Ordinance No. 4680 June 6, 1994 Page 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 WHEREAS, Ordinance No. 4530, approved December 2, 1991, adopted the 1992 budget wherein Special Revenue Fund 122 became known as a "Cumulative Reserve" fund; and WHEREAS, Ordinance No. 4601, approved December 7, 1992, adopted the 1993 budget wherein Special Revenue Fund 122 remained known as a "cumUlative Reserve" fund; and WHEREAS, the City desires to establish Special Revenue Fund 122 to be known as "Cumulative Reserve" fund as a separate fund. NOW, THEREFORE, CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO ORDAIN AS FOLLOWS: Seotion 1. Special Revenue Fund 122 contained in the 1989, 1990, 1991, 1992 and 1993 budgets is hereby separately established as Special Revenue Fund 122 to be known as the "Cumulative Reserve" fund. Section 2. The Mayor is hereby authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation. Seotion 3. This Ordinance shall take effect and be in force five (5) days from and after its passage, approval and publication, as provided by law. Ordinance No. 4680 June 6, 1994 Page 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 INTRODUCED: PASSED: APPROVED: ATTEST: MAYOR Robin Wohlhueter, City Clerk APPROVED AS TO FORM: Michael J. Reynolds, City Attorney Ordinance No. 4680 June 6, 1994 Page 3