HomeMy WebLinkAbout2300 RESOLUTION NO. 2300
A RESOLUTION establishing sources of funding
for the general government portion of the
Capital Improvement Program from local tax
revenues.
WHEREAS, the City Council has determined that it is in the
best interest of the City to prepare and adopt a Capital
Improvement Program document; and,
WHEREAS, in order to prepare a Capital Improvement Program it
is necessary to identify both the capital assets needed by the City
and the sources of funds required to obtain those assets; and,
WHEREAS, it is appropriate for some portion of the City's tax
revenue to be devoted to funding of the Capital Improvement
Program; and,
WHEREAS, the City currently maintains a Real Estate Excise Tax
Fund whose purpose as stated in BMC 3.84.010(c) is
..... for capital improvements including those listed in RCW
35.43.040
and a Civic Improvement Fund whose purpose as stated in BMC
3.64.050 is
paying all or any part of the cost of acquisition,
construction or operating of any public stadium facilities and/or
convention center facilities
NOW, THEREFORE BE IT RESOLVED BY THE BREMERTON CITY COUNCIL,
that all monies presently and hereafter available in the Real
Estate Excise Tax Fund except those currently budgeted for other
purposes are reserved exclusively for financing project within the
general government portion of the City's Capital Improvement
Program; and,
BE IT FURTHER RESOLVED that all monies presently or hereafter
available in the Civic Improvement Fund except those which are or
shall be budgeted in support of the Bremerton/Kitsap County Visitor
and Convention Bureau and the Bremerton Naval Museum are reserved
exclusively for financing project within the general government
portion of the City's Capital Improvement Program.
ADOPTED by the City Council of the City of Bremerton this
2 day of May, 1990.
LYNN HORTON, President
Bremerton City Council