1921 - Ordinance - Repealing Ordinance 1787 to Abolish Inactive FundORDINANCE NO. 1921
AN ORDINANCE OF THE CITY OF PORT ORCHARD, WASHINGTON
REPEALING ORDINANCE NO. 1787 TO ABOLISH INACTIVE FUND
LIMITED TAX GO BOND FUND 1999 AND AUTHORIZE TRANSFER OF
CASH BALANCE OF SAID FUND TO THE LIMITED TAX REFUNDING GO
BOND FUND 2003.
WHEREAS, City Ordinance No. 1787 established the Fund known as the Limited
Tax GO Bond Fund 1999; and
WHEREAS, the City refunded the 1999 city hall loan with the United States
Department of Agriculture by selling the 2003 Bonds; and
WHEREAS, the City has paid all of the costs related to the issuance and delivery
of the Bonds; and
WHEREAS, Ordinance No. 1906 directs that any money remaining after the
prepayment of the 1999 Bond has been accomplished and costs of issuance paid shall be
transferred to the Limited Tax Refunding GO Bond Fund 2003; now, therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON
DOES HEREBY ORDAIN AS FOLLOWS:
SECTION 1. Ordinance No. 1787 is hereby repealed to abolish the Fund known
as the Limited Tax GO Bond Fund 1999 and the Treasurer of the City of Port Orchard is directed
to transfer the cash balance of said fund to the Limited Tax Refunding GO Bond Fund 2003 on
December 31, 2003.
SECTION 2. This ordinance shall be in full force and effect five (5) days after
posting and publication as required by law. A summary of this Ordinance may be published in
lieu of the entire ordinance, as authorized by State law.
PASSED by the City Council of the City of Port Orchard on this 8th day of December
2003 and APPROVED by the Mayor and attested by the Cler authentication of such passage.
ATTEST: LESLIE J. WEATHERILL, MAYOR
Carol Etgen, City Clerk
APPROVED l
i
Iorney
Sponsored by:
Robert Geiger, Councilmember
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 8, 2003.
ORDINANCE NO. 1921
AN ORDINANCE OF THE CITY PORT ORCHARD, WASHINGTON,
REPEALING ORDINANCE NO. 1787 TO ABOLISH INACTIVE FUND
LIMITED TAX GO BOND FUND 1999 AND AUTHORIZE TRANSFER OF
CASH BALANCE OF SAID FUND TO THE LIMITED TAX REFUNDING
GO BOND FUND 2003.
Copies of Ordinance No. 1921 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. 1921 will be
provided at a nominal charge.
City of Port Orchard 0-""
Michelle Merlino
Deputy Clerk
Publish: Port Orchard Independent
December 17, 2003
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