1554 - Ordinance - Authorizing Treasurer to Close the Local Improvement Guaranty FundNOTICE 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 July
13, 1992.
ORDINANCE NO. 1554
AN ORDINANCE OF THE CITY OF PORT ORCHARD,
WASHINGTON, AUTHORIZING THE CITY TREASURER TO
CLOSE THE LOCAL IMPROVEMENT GUARANTY FUND;
AUTHORIZING TRANSFER OF BALANCE OF SAID LOCAL
IMPROVEMENT GUARANTY FUND TO GENERAL FUND FOR
MUNICIPAL FACILITIES; AUTHORIZING TRANSFER OF
FUNDS FROM WATER -SEWER EQUIPMENT REPLACEMENT
FUND AND FROM WATER -SEWER CUMULATIVE RESERVE
FUND TO THE WATER -SEWER OPERATING FUND.
Copies of Ordinance No. 1554 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. 1554 will be
provided at a nominal charge.
City of Port Orchard
Patricia Hower
City Clerk
Publish: Port Orchard Independent
July 22, 1992
ORDINANCE NO. 1554
AN ORDINANCE OF THE CITY OF PORT ORCHARD, WASHINGTON
AUTHORIZING THE CITY TREASURER TO CLOSE THE LOCAL
IMPROVEMENT GUARANTY FUND; AUTHORIZING TRANSFER OF
BALANCE OF SAID LOCAL IMPROVEMENT GUARANTY FUND TO
GENERAL FUND FOR MUNICIPAL FACILITIES; AUTHORIZING
TRANSFER OF FUNDS FROM WATER- SEWER EQUIPMENT
REPLACEMENT FUND AND FROM WATER -SEWER CUMULATIVE
RESERVE FUND TO THE WATER -SEWER OPERATING FUND.
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION 1. THAT the City Treasurer is hereby authorized to close
the Local Improvement Guaranty Fund on or after July 17, 1992.
SECTION 2. The Treasurer of the City of Port Orchard is hereby
directed to transfer monies follows:
1) An amount not to exceed $92,000 from the Local Improvement
Guarantee Fund to the General Fund for Municipal Facilities.
2) An amount not to exceed $10,000 from the Water -Sewer Equipment
Replacement Fund to the Water -Sewer Operating Fund emergency computer
purchase.
3) An amount not to exceed $20,000 from the Water -Sewer
Cumulative Reserve Fund to the Water -Sewer Operating Fund to purchase
property.
4) An amount not to exceed $65,000 from the Water -Sewer
Cumulative Reserve Fund to the Water -Sewer Operating Fund to construct a new
culvert at the Lloyd Parkway property.
PASSED by the City Council of the City of Port Orchard, APPROVED
by the Mayor and attested by the Clerk in authentication of such passage this
13th day of July, 1992. Wg�
-4
LESLIE J. WEATHERILL, MAYOR
ATTE
Patricia Hower, City Clerk
APPROVED AS TO FORM: Sponsored By:
City Attorney
Councilman Geiger