Laserfiche WebLink
I <br /> ti _ , •t. • <br /> 1997 20 <br /> 1 <br /> 1998 15 <br /> 1999 15 <br /> 2 <br /> 2000 15 <br /> 3 2001 15 <br /> 2002 15 <br /> 4 2003 10 <br /> 2004 0 <br /> 5 2005 0 <br /> 2006 0 <br /> 6 2007 0 <br /> 7 B. Total tax collections for the Community and Recreational <br /> 8 Improvements Fund of 1988 shall not exceed $30,000,000 to be specifically <br /> 9 applied to project costs. In addition, tax collections shall be <br /> 10 appropriated to the Fund to meet interest payments on bonds. Collections <br /> 11 for interest payments will depend on prevailing interest rates and bond <br /> 12 maturities prevailing at the time of bond sale. <br /> 13 C. The cumulative amount of bonds issued to fund the improvements <br /> 14 listed in Section 2 hereof shall not exceed 75% of the limited tax general <br /> 15 obligation authority as defined by RCW 39.36. <br /> 16 D. No single year shall end with a negative accounting balance in <br /> 17 the Capital Fund. <br /> 18 E. No project to be funded under the Community and Recreational <br /> 19 Improvements Fund of 1988 shall begin after 1992. <br /> 20 F. Additional funds generated from any external source and <br /> 21 appropriated by the City Council to the Fund (such as grants) shall accrue <br /> 22 to the capital fund. <br /> 23 G. Interest earnings on the Fund balance of the said Fund shall <br /> 24 accrue to the capital fund and shall supplement and be added to the amount <br /> 25 available for capital projects. <br /> 26 H. Said Fund shall be a separate fund on the chart of accounts of <br /> 27 the City, and shall annually contain an estimate of its sources of revenue, <br /> 28 its amounts of revenue, the budgeted appropriation for capital projects and <br /> 29 the estimated ending Fund balance. <br /> 30 I . Each project shall be established by a separate construction fund <br /> 31 showing its revenues as a transfer from the Community and Recreational <br /> 32 <br /> -3- <br />