HomeMy WebLinkAbout4320 OP, DINANCE NO.
AN ORDINANCE establishing a trust fund for replacement and expansion of
parks, recreational and open space uses of Roosevelt Field.
THE CITY OF BREMERTON DOES HEREBY ORDAIN:
Section 1. New Chapter. There is hereby adopted a new chapter to the Bremerton
Municipal Code, 3.23 ROOSEVELT CAPITAL ASSETS FUND, to read:
3.23.010 ESTABLISHED. There is hereby established an expendable trust fund to
be called the Roosevelt Capital Assets Fund for the replacement expansion and
improvement of parks, recreation and open space needs of the community served by
Roosevelt Field.
3.23.020 APPROPRIATION OF FUNDS. There is appropriated to the Roosevelt
Field Replacement Fund:
(a) All assets or property received as consideration for the conveyance of
Roosevelt Field whether by condemnation, transfer in lieu of condemnation, or surplus sale.
(b) Income from fund property or borrowing secured by fund assets.
(c) Donations and bequests specifically dedicated to the fund.
3.23.030 ADMINISTRATION. The Roosevelt Capital Assets Fund shall be
administered by the City Treasurer and the Mayor. All monies received by the fund
together with investment earnings thereon, may be expended only by authorization of the
City Council. The City Council will consult with the Parks and Recreation Commission
before commitment of these funds. Expenditures shall be limited to park capital assets
which address the community's parks, recreational and open space needs. Community
recreational open space needs served by Roosevelt Field shall have first priority in fund
expenditures.
Section 2. Effective Date. This ordinance shall become effective 10 days following
passage and publication.
APPROVED by the City Council of the City of Bremerton this /0 day of
PASSED by the City Council of the City of Bremerton this -/ day of
LYNN HORTON, Council President
I' , 99
APPROVED this ¢ day o
LOUIS MENTOR, Mayor
A~'TEST:
KATHLEEN McCLUSKEY, City C/erk