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k ~ <br /> EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 1 <br /> 1 i <br /> PROJECT TITLE: �^y ` <br /> An Ordinance creating a Briefing COUNCIL BILL_# `t —$ <br /> special revenue fund entitled Proposed Action Originating Department Finance <br /> "Transportation Benefit Consent Contact Person Susy Haugen <br /> District,"Fund 159 to account Action - Phone Number X8612 <br /> for all financial transactions 2/4/15 First Reading FOR AGENDA OF 2/4/15 <br /> relating to the City of Everett 2/11/15 Second Reading <br /> Transportation Benefit District. 2/18/15 Third Reading <br /> Public Hearing <br /> Budget Advisory Initialed by: <br /> Department Head 1 <br /> CAA rin <br /> Council President r7 <br /> Location Preceding Action Attachments Department(s)Approval <br /> Amount Budgeted -0- <br /> Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT <br /> On June 18, 2014, City Council adopted Ordinance No. 3386-14,which established the Transportation <br /> Benefit District(TDB). On August 6,2014, City Council convened as the Board of Directors of the <br /> Transportation Benefit District and adopted District Resolution No. 3,approving a$20.00 Vehicle License <br /> Fee. The vehicle license fee revenue is restricted for the purpose of making transportation improvements that <br /> preserve,maintain,and improve the City's transportation infrastructure. Establishing a new special revenue <br /> fund to account for financial transactions relating to the TBD will facilitate reporting and accountability for <br /> these restricted funds. <br /> RECOMMENDATION: Adopt Ordinance creating a special revenue fund entitled"Transportation Benefit <br /> District," Fund 159 to account for all financial transactions relating to the City of Everett Transportation <br /> Benefit District. <br /> 1 <br />