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Ordinance No. 0647
CITYOFMEDINAORDINANCENO647ANORDINANCEAUTHORIZINGTHETRANSFEROF50000FROMTHERESERVESFUNDTOTHEBONDREDEMPTIONFUNDFORTHEPURPOSESOFGOBONDREDEMPTIONWHEREASin1987theCityofMedinaissuedgeneralobligationbondsandWHEREASananalysishasbeendoneshowingthataredemptionoftheoutstandingbondswouldbefavorabletotheCityNOWTHEREFORETHECITYCOUNCILOFTHECITYOFMEDINAWASHINGTONDOORDAINASFOLLOWSSECTION1TransferThereisherebytransferred50000fromtheReservesFundtotheBondRedemptionFundforthepurposeofredemptionofoutstandinggeneralobligationbondsSECTION2EffectiveDateThisordinanceshalltakeeffectfive5daysafteritspublicationorthepublicationofasummaryofitsintentandcontentsPASSEDBYATLEASTONEMORETHANAMAJORITYOFTHECITYCOUNCILONTHIS14THDAYOFDECEMBER1998ANDSIGNEDINAUTHENTICATIONOFITSPASSAGETHE14thDAYOF1998MayorApprovedastoformKikRVinesCityAttorneyAttestValsonCity SUMMARYOFORDINANCENO647oftheCityofMedinaWashingtonOnDecember141998theCityCounciloftheCityofMedinaWashingtonapprovedOrdinanceNo647themainpointsofwhicharesummarizedbyitstitleasfollowsANORDINANCEAUTHORIZINGTHETRANSFEROF50000FROMTHERESERVESFUNDTOTHEBONDREDEMPTIONFUNDFORTHEPURPOSESOFGOBONDREDEMPTIONThefulltextofthisordinancewillbemaileduponrequestAPPROVEDbytheCityCouncilattheirmeetingofDecember141998HarwoodTEdvalsonCityClerk