HomeMy WebLinkAboutOrdinance No. 0462CITY OF MEDINA
ORDINANCE NO. 462
AN ORDINANCE amending Ordinance Number 185, Section 2
providing for levies for the local improvement guarantee fund.
THE CITY COUNCIL OF THE CITY OF MEDINA, WASHINGTON DO
ORDAIN AS FOLLOWS:
Section 1: Ordinance Number 185, Section 2 ended:
Ordinance Number 185, Section 2 is amended to read asAmollows:
Lev or Guarantee Fund. From time to time hereafter for
t e purpose of maintaining the local improvement
guarantee fund the City shall at the time of making its
annual budget and tax levy provide for the levy of a sum
sufficient, with the other [aeJsources of the fund, to
a the warrants issued a ainst the fund duzin the
r eceed n f scal ear and to esta bl ah a alance
t ereln [t6 maa t._ _f.:nanrsal rort�Ti s�niLaj tg nF assrh
provided that the levy in any one year shall not
exceed the greater of: (1) (5,11r] 12% of the outstanding
obligat one gum aianteed by the fund, or (2) the total
Section 2: Effective Date: This ordinance shall take
effect five (5) days after its publication or the publication of
a.summary of its intent and content.
PASSED BY AFFIRMATIVE VOTES OF A MAJORITY OF THE CITY
COUNCIL ON THE llth DAY OF JANUARY, 1988, AND SIGNED IN
AUTHENTICATION OF SUCH PASSAGE THHEEllth DAY OF JANUARY, 1988.
Peter Va -Sp nosa, Mayor
Approved as to form:
Kirk Wines, City Attorney
""""p"pp",�"" ^ - .. `y certify that 1 em the City Clerl.
Attest: 4 ' �1'�"F'w"-�!.. hrrch
of thu :';, c; f:'.c 'irn; mal a.;cc:;cd i:c«.•:a is Cr_;rcnce su ilo...-�
E.
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rg at Davis, Cityy Clerk -'```1�A""��'�� lft�/"�/�S ✓%�, �,..
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i r O .CRY Clark
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