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HomeMy WebLinkAbout2072 OrdinanceORDINANCE NO. 2072 AN ORDINANCE relating to the decrease of Supply System Impact Fund by reappropriation to the newly Bridge Demolition Fund". the Washington Public Power thirty.thousand dollars for created "Old Pasco -Kennewick THE CITY COUNCIL OF THE CITY OF PASCO DOES ORDAIN AS FOLLOWS: Section 1. That the City Council finds that it is in the best interest of the City of Pasco to temporarily decrease the Washington Public Power Supply System Impact Fund by thirty thousand dollars for reappropriation to a newly created fund with expenditure authority, the "Old Pasco -Kennewick Bridge Demolition Fund", to facilitate the obtaining of matching money from other jurisdictions. Section 2. There is hereby created a new fund with expenditure authority entitled the "Old Pasco -Kennewick Bridge Demolition Fund". In addition to the amount provided for in this ordinance, this fund may receive revenues received that are in excess of estimated revenues during the current fiscal year when said revenues are received for the purpose of facilitating the demolition of the old Pasco -Kennewick Bridge. Section 3. The [r7ashington Public Power Supply System Impact fund created by Ordinance No. 1970 shall be temporarily decreased by thirty thousand dollars by the transfer of said amount to the "Old Pasco -Kennewick Bridge Demolition Fund". This transfer shall be temporary in that the "Old Pasco -Kennewick Bridge Demolition Fund" shall reimburse -the Washington Public Power Supply System Impact Fund for this amount and also shall pay to said fund interest at the rate of 9% per annum. Section 4. This ordinance shall be in .full force and effect after its passage and publication as required by law. PASSED by the City Council of the City of Pasco by a vote of six YES to zero NO this 2nd day of July , 1979. ATTE�� Chet. Bai! ie, Mayor Evel is City Clerk ZI APP OVED AS TO FORM `S Den is J. De li e, City Attorney