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Home My WebLink About5978ORDINANCE NO. 5978 AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, ADOPTING A NEW SECTION 3.04.620 OF THE AUBURN CITY CODE TO ESTABLISH THE TRANSIT CENTER PROPERTY MANAGEMENT REVOLVING FUND AT AN INITIAL FUNDING AMOUNT OF $1,500.00 WHEREAS, the City of Auburn has entered into an agreement with Coldwell Banker Commercial, a property management company, to manage the retail space leased by the City at the Transit Center located at 110 2"d St SW, Auburn, Washington; and WHEREAS, the agreement with Coldwell Banker Commercial calls for the City to deposit $1,500.00 into a new account from which the management company will pay expenses and into which it will deposit rental revenues; and WHEREAS, the City of Auburn deems it necessary to establish the "Transit Center Property Management Revolving Fund," an advance property management expense revolving fund, to be established in order to enable the City and Coldwell Banker Commercial to properly manage the Transit Center retail space currently leased by the City; and WHEREAS, the City of Auburn deems it necessary to establish the "Transit Center Property Management Revolving Fund" at an initial amount of $1,500.00. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO ORDAIN AS FOLLOWS: ------------------------ Ordinance No. 5978 Page 1 of 3 December 28, 2005 Section 1. A new section 3.04.620 of the Auburn City Code is hereby created to read as follows: 3.04.620 Transit center property management revolving fund created. The City Finance Director is hereby authorized to establish a revolving working fund to be known as the "transit center property management fund" which fund is hereby created by the City, and the City Finance Director is designated the custodian thereof; and further, the amount to originally fund said fund is herewith determined to be $1,500. Section 2. Implementation. The Mayor is hereby authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation. Section 3. Effective Date. This Ordinance shall take effect and be in force five (5) days from and after its passage, approval and publication as provided by law. Section 4. Severability. The provisions of this ordinance are declared to be separate and severable. The invalidity of any clause, sentence, paragraph, subdivision, section or portion of this ordinance, or the invalidity of the application thereof to any person or circumstance shall not affect the validity of the remainder of this ordinance, or the validity of its application to other persons or circumstances. ~ DATED and SIGNED this ~7%~' day of ~~~~ , 2006. Ordinance No. 5978 Page 2 of 3 December 28, 2005 INTRODUCED: JAN 3 2006 PASSED: ~AN 3 2006 APPROVED: .IAN 3 2006 ; _ PETE B. L IS, MAYOR ATTEST: 1 ,~ `~~~,~ ~ - ~;. D~ielle E. Daskam, City Clerk Published: JAN 9 2006 Ordinance No. 5978 Page3of3 December 28, 2005 APPROVED AS TO FORM: