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ORDINANCE NO. ~
AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, CREATING IN
THE OFFICE OF THE CITY FIN/kNCE DIRECTOR A FUND TO BE KNOWN AND
DESIGNATED AS THE 1986 PARKS AND STREET IMPROVEMENT
CONSTRUCTION FUND AND TRANSFERRING THE REMAINING DE MINIMIS
AMOUNT OF CASH AND DELINQUENT PROPERTY TAXES RECEIVABLE FROM
THE UNLIMITED TAX GENERAL OBLIGATION BOND FUND, 1986 TO THE
1986 PARKS AND STREET IMPROVEMENT CONSTRUCTION FUND TO BE USED
FOR PURPOSES SIMILAR TO THOSE IDENTIFIED IN SECTION 1 OF
ORDINANCE NO. 4169.
WHEREAS, the City of Auburn, Washin§ton issued
$7,675,0000 of general obligations bonds pursuant to Ordinance
No. 4169 which was approved November 17, 1986 for the purpose
of constructing and developing approximately 60 acres of park
land and associated recreational facilities at the Auburn Game
Farm and Green River parks; and reconstructing and improving
various streets within the City; and
WHEREAS, the indebtedness incurred
bonds was fully satisfied in 1996; and
in relation to these
WHEREAS, there is a De minimis amount
in the Unlimited Tax General Obligation Bond
addition to delinquent property taxes receivable;
of cash remaining
Fund, 1986 in
and
Ordinance No. 5012
August 25, 1997
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WHEREAS, it has been determined that the remainin9 De
minimis amount of funds and delinquent property taxes
receivable shall be used for purposes similar to those
identified in Section 1 of Ordinance No. 4169; and
WHEREAS,
receivable in
the remainin9 cash and delinquent property taxes
the Unlimited Tax General ObliHation Bond Fund,
1986, should be transferred into a newly created fund entitled
1986-Parks and Street Improvement Construction in the office
of the City Finance Director in order to allow for the
expenditure of the funds for the purposes similar to those
identified in Section 1 of Ordinance No. 4169.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN
WASHINGTON, DO ORDAIN AS FOLLOWS:
~ There is created and established in the
office of the City Finance Director a fund to ibe known and
desiHnated as the "1986 Parks and Street Improvement
Construction Fund" which fund shall receive the transfer of
the De minimis cash and delinquent property taxes receivable
remaininH in the Unlimited Tax General ObliHation Bond Fund,
1986. The funds thus transferred to the 1986 Parks and Street
Ordinance No. 5012
AuHust 25, 1997
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Improvement
similar to those
Construction Fund shall be used for purposes
identified in Section 1 of Ordinance No. 4169
The Mayor is hereby authorized to implement
such administrative procedures as may be necessary to carry
out the directions of this legislation.
~ This Ordinance shall take effect and be in
force five (5) days from and after its passage, approval and
publication, as provided by law.
INTRODUCED: q/~/q7
/ ~
ATTEST:
CH/LRLES A. BOOTH
MAYOR
Robin Wohlhueter,
City Clerk
Ordinance NO. 5012
Auguat 25, 1997
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APPROVED AS TO FORM:
Michael J. Reynolds,
City Attorney
PUBLISHED:
Ordinance No. 5012
August 25, 1997
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