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HomeMy WebLinkAbout1934 Ordinance: y ORDINANCE NO. 1934 AN ORDINANCE creating and establishing a new fund in the City of Pasco to be known and designated as the "Unemployment Benefit Trust Fund" and numbered fund 620, specifying the purpose for which the said fund is created; and providing the expenditures therefrom of an appropriation authorized by the Council of the City of Pasco. THE CITY COUNCIL OF THE CITY OF PASCO DO ORDAIN AS. FOLLOWS: Section 1. That there be and is hereby created in the City of Pasco a new fund to be known and designated as the "Unemployment Benefit Trust Fund", numbered fund 620, to be used exclusively as a means of holding in trust funds appropriated by the Council of the City of Pasco for the purpose of paying unemployment compensation coverage required by Chapter 292, Laws of 1977 First Extraordinary Session. Section 2. That the proper officers of the City of Pasco be and they are hereby directed to deposit quarterly in said fund such amounts as determined by the finance director to be actuarially sufficient and approved by the City Council in the Annual Budget. Section 3.- That said fund shall never be used for any purpose other than to pay bona fide claims submitted to the City of Pasco -by the Department of Employment Security of the State of Washington pursuant to the authority invested by Title 50 R.C.W. relating to unemployment compensation. Any interest earned on the deposits in the "Unemployment Benefit Trust Fund" shall accrue to the fund and become a part thereof. Section 4. That the Director of Finance of the City of Pasco shall and is hereby directed to keep and maintain all books, records and accounts in connection with the receipt and disbursement to and from said fund as are necessary for the adequate control and reporting required on the financial transactions of said fund in conformance with any and all laws pertaining thereto. Section 5. That this Ordinance shall be in full force and effect after its passage and publication as required by law. PASSED by the City Council and approved as required by law this 16 day of January 1978. 1 Chet Bailie, Mayor Evelyn -Wells, Deputy City Clerk APPROVED AS TO FARM: Michael E. Cooper, City Attorney