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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
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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
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INTRODUCED:
PASSED:
APPROVED:
ATTEST:
MAYOR
Robin Wohlhueter,
City Clerk
APPROVED AS TO FORM:
Michael J. Reynolds,
City Attorney
Ordinance No. 4680
June 6, 1994
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