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Ordinance No. 0661
andCITYOFMEDINAORDINANCENO661ANORDINANCEAUTHORIZINGTHETRANSFEROF16592250FROMTHERESERVESFUNDTOTHEBONDREDEMPTIONFUNDFORTHEPURPOSESOFGOBONDREDEMPTIONWHEREASin1987theCityofMedinaissuedgeneralobligationbondsWHEREASananalysishasbeendoneshowingthataredemptionoftheoutstandingbondswouldbefavorabletotheCityNOWTHEREFORETHECITYCOUNCILOFTHECITYOFMEDINAWASHINGTONDOORDAINASFOLLOWSSECTIONtoTransferThereisherebytransferred16592250fromtheReservesFundtotheBondRedemptionFundforthepurposeofredemptionofoutstandinggeneralobligationbondsSECTION2EffectiveDateThisordinanceshalltakeeffectfive5daysafteritspublicationorthepublicationofasummaryofitsintentandcontentsPASSEDBYATLEASTONEMORETHANAMAJORITYOFTHECITY1999MayorApprovedastoform SUMMARYOFORDINANCENO661oftheCityofMedinaWashingtonOnJune141999theCityCounciloftheCityofMedinawashingtonapprovedOrdinanceNo661themainpointsofwhicharesummarizedbyitstitleasfollowsANORDINANCEAUTHORIZINGTHETRANSFEROF16592250FROMTHERESERVESFUNDTOTHEBONDREDEMPTIONFUNDFORTHEPURPOSESOFGOBONDREDEMPTIONThefulltextofthisordinancewillbemaileduponrequestAPPROVEDbytheCityCouncilattheirmeetingofJune141999CityClerk