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ORDINANCE NO. /15?
AN ORDINANCE relating to finance, establishing a cumulative re-
serve fund, and declaring an emergency.
THE CITY COMMISSION OF THE CITY OF PORT ANGELES DOTS OPDAIN,
as follows:
Section 1. In accordance with the provisions of Chapter 60, of
the Laws of the State of .;ashin€ ton for 1941, there is hereby established
in the City of Port Angeles, +'lashington, a fund to be known as
"Cumulative Reserve Fund for the acquisition, construction, alteration
and repair of public buildings and structures for municipal purposes,
including consultant engineering and architectural
quisition of land, sites and rights of way:
Section 2. The fund so created shall consist
costs, and the ac-
of such surplus
monies in the City Treasury as were approved for building purposes in
the estimated expenditures of the City for 1915 and 1946, and such
Other monies, if any, which are included in the City's annual budget
for ensuing years.
Section 3. T17e monies in said fund shall be allowed to accumulate
from year to year and shall not lapse at the end of any fiscal year,
for be available for any purpose not herein specified, without the ap-
proval of a majority of the electors of the City, as provided by the
laws of the State of 'Nashinton.
Section 4. This Ordinance is declared to be urgent and necessary
for the preservation of the public health, peace and safety of the in-
habitants of the City of Port Angeles, and shall take effect and be in
force immediately upon and after its passage, ap- oroval and lawful
publication.
Passed first reading by the City Commission this 13th day of
February, 1946.
Passed second reading by the City Commission this 13.4- day of
February, 1946.
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Passed third reading and finally passed and adopted by the City
Commission this .204 day of lebruary, 1946.
Approved by the Mayor and signed this .2.0? day of February, 1946.
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