1673 - Ordinance - Repealing Ordinance 948 to Abolish Inactive FundIX
ORDINANCE NO. 1673
AN ORDINANCE OF THE CITY OF PORT ORCHARD,
WASHINGTON REPEALING ORDINANCE NO. 948 (POMC
3.04.070 GENERAL OBLIGATION BOND-1975 FUND) TO
ABOLISH AN INACTIVE FUND AND REPEALING ORDINANCE
NO. 969 TO CLOSE THE GENERAL OBLIGATION BOND-1976
REFUNDING FUND AND AUTHORIZING TRANSFER OF CASH
BALANCE OF SAID FUND TO THE BY-PASS DEBT RESERVE
FUND AND THE CUMULATIVE RESERVE FUND FOR
MUNICIPAL FACILITIES.
THE COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
Section 1. Ordinance No. 948 (POMC 3.04.070) is hereby
repealed to abolish the Special Fund known as the General Obligation Bond-1975
Fund.
Section 2. Ordinance No. 969 is hereby repealed to abolish
the Fund known as the General Obligation Bond-1976 Refunding Fund and the
Treasurer of the City of Port Ochard is directed to transfer cash balance of said
fund to the By -Pass Debt Reserve Fund ($32,500) and the Cumulative Reserve Fund
for Municipal Facilities (Remaining Balance) on December 31, 1996.
PASSED by the City Council of the City of Port Orchard, signed by the
Mayor and attested by the Clerk in authentication of such passage this 23rd day
of December, 1996.
LESLIE J. WEATHERILL, MAY
ATTEST:
Ali
Patricia Parks, City Clerk
APPROVED AS TO FORM:
/I% / 1I19
/. /L.
Sponsored by:
Councilman Geiger
NOTICE OF CITY OF PORT ORCHARD
ORDINANCE
The following is a summary of an Ordinance approved by the Port Orchard City
Council at their regular Council meeting held December 23, 1996.
ORDINANCE NO. 1673
AN ORDINANCE OF THE CITY OF PORT ORCHARD, WASHINGTON REPEALING
ORDINANCE NO. 948 (POMC 3.04.070 GENERAL OBLIGATION BOND-1976) TO
ABOLISH AN INACTIVE FUND AND REPEALING ORDINANCE NO.969TO CLOSE
THE GENERAL OBLIGATION BOND-1976 REFUNDING FUNDAND AUTHORIZING
TRANSFER OF CASH BALANCE OF SAID FUND TO THE BY-PASS DEBT
RESERVE FUND AND THE CUMULATIVE RESERVE FUND FOR MUNICIPAL
FACILITIES.
Copies of Ordinance No. 1673 are available for review at the office of the City Clerk
of the City of Port Orchard. Upon written request a statement of the full text of the
Ordinance will be mailed to any interested person without charge. Thirty days after
publication, copies of Ordinance No. 1673 will be provided at a nominal charge.
City, of Port Orchard
�—�d '
Michelle Hager
Deputy City Clerk
Publish: Port Orchard Independent
January 1, 1997