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ORDINANCE NO. fC9‘p .3-S7 <br /> AN ORDINANCE amending Ordinance 1244-86 and <br /> establishing Fund 154 -- Real Estate Excise <br /> Tax . <br /> WHEREAS, Ordinance 1244-86 was passed May 7 , 1986 , <br /> levying a one-quarter of one percent excise tax on the <br /> sale of real estate within the City of Everett ; and <br /> WHEREAS, Ordinance 1244-86 provides that the proceeds <br /> of the real estate excise tax shall be deposited in Fund <br /> 115 -- General Government Special Projects; and <br /> WHEREAS, the use of the proceeds of the the tax is <br /> limited to municipal capital improvements and should be <br /> segregated from all other revenues; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN : <br /> that' Section 6 of Ordinance 1244-86 which reads as follows : <br /> Section 6 : DEPOSIT IN GENERAL GOVERNMENT SPECIAL <br /> PROJECTS FUND. <br /> All proceeds of the excise tax which are disbursed to <br /> the City shall be deposited into the General Government <br /> Special Projects Fund 115. Monies in said fund shall be <br /> accumulated from year to year , and may be expended at such <br /> times as the City Council shall direct for purposes of <br /> making capital improvements for the public benefit, <br /> including but not limited to those capital improvements <br /> listed in RCW 35. 43 . 040 . <br /> is hereby amended to read: <br /> Section 6 : DEPOSIT IN REAL ESTATE EXCISE TAX FUND. <br /> All proceeds of the excise tax which are disbursed to <br /> the City shall be deposited into Fund 154 - Real Estate <br /> Excise Tax . Monies in said fund shall be accumulated from <br /> year to year , and may be expended at such times as the <br /> City Council shall direct for purposes of making capital <br /> improvements for the public benefit , including but not <br /> limited to those capital improvements listed in RCW <br /> 35 . 43 . 040. <br /> A, <br /> WILLIAM E. MOORE, Mayor <br /> ATTEST: <br /> 4011P 441 , <br /> / 2J, i <br /> City Clerk <br /> Passed : (o -/0E-e� <br /> Valid : --/ 94-1,/ <br /> Published: , J_--0C‘ <br />