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RESOLUTION NO. ---.30 6',% <br /> A RESOLUTION allocating funds from <br /> Fund 154 Real Estate Excise Tax Fund <br /> for the purchase of specified <br /> properties <br /> WHEREAS, the City of Everett has embarked upon a capital <br /> improvement program which includes facilities and public works which <br /> must be sited upon properties owned by the City ; and <br /> WHEREAS , the capital improvement plan contemplates the <br /> purchase of properties to be made as soon as possible to preclude <br /> the possibility that the property may become unavailable in the <br /> future ; and <br /> WHEREAS, the City adopted by ordinance the option of <br /> collecting one-quarter of one percent of the value of all real <br /> estate transactions occurring within its municipal boundaries ; and <br /> WHEREAS , the City has collected such tax from real estate <br /> transactions for two years and is financially prepared to purchase <br /> properties that will further the capital improvements program of the <br /> City ; <br /> WHEREAS , the City Council finds that library and community <br /> center facilities are cultural improvements and have community wide <br /> benefits as well as local benefits which justify appropriation from <br /> real estate excise taxes ; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF EVERETT: <br /> That the Mayor is hereby authorized to prepare a budget <br /> which will appropriate funds for the purchase of properties , therein <br /> naming specific sites , delineating their purpose in furthering the <br /> capital improvement plan , and identifying the sources of funding . <br /> To wit , <br /> 1 . RUCKER PROPERTY $ 198,700 <br /> Location : SW corner, Everett Avenue and Rucker <br /> Purpose : Future development of the community center <br /> Funding : Real Estate Excise Tax <br /> 2. EVERGREEN PROPERTY $ 162 , 000 <br /> Location : South Branch Library <br /> Purpose : Building site for south branch library <br /> Funding : Real Estate Excise Tax <br /> 3 . RIVERFRONT PARK PROPERTY $ 273, 000 <br /> Location : Smith Island/Snohomish River <br /> Purpose : Park development <br /> Funding : Real Estate Excise Ta , <br /> / <br /> ��_ir_ i <br /> Coun 0 man Introducing Resolution <br /> PASSED AND APPROVED BY CITY COUNCIL THIS 3/ DAY OF 1988 <br /> Counci Pres dent <br /> Doc . 0189W <br />