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-77(2 -- 1714 <br /> ORDINANCE NO. r'I- 7 7 <br /> AN ORDINANCE creating a Library Cumulative Reserve Fund to receive <br /> and accumulate funds for specific capital items and projects which <br /> relate to the library program. <br /> 1 <br /> 2 <br /> WHEREAS, the library receives funds from book sales, endowments, bequests, <br /> 3 <br /> gifts, memorials and trusts as well as from appropriations by the City Council; and <br /> 4 <br /> WHEREAS, the library wishes to accumulate funds for specific capital items and <br /> 5 <br /> other projects which relate to the library program such as literary and cultural services <br /> 6 <br /> for the intellectual improvement of the individual. <br /> 7 <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> 8 <br /> Section 1: That a Library Cumulative Reserve Fund is hereby created <br /> 9 <br /> pursuant to RCW 35.21.070 to be used for specific capital items and projects which <br /> 10 <br /> relate to the library program and for literary and cultural services for the intellectual <br /> 11 <br /> improvement of the individual. Determination of fund dispersal will be made by the <br /> 12 <br /> Library Board of Trustees. All funds collected for such fund shall be used for the <br /> 13 <br /> purposes above set forth and for no other purposes except as provided by law. <br /> 14 <br /> Section 2: That the source of monies for the Library Cumulative Reserve <br /> 15 <br /> Fund shall be endowments, bequests, gifts, memorials, book sales and other similar <br /> 16 <br /> appropriations from private and public benefactors; provided, however, no allocation of <br /> 17 <br /> City revenue shall become part of the Library Cumulative Reserve Fund unless the City <br /> 18 <br /> Council specifically authorizes such monies are to become part of such fund by <br /> 19 <br /> resolution or ordinance. <br /> 20 <br /> 21 <br /> 22 <br /> 23 <br /> AY O <br /> 24 ATTEST: <br /> 25 <br /> 26 ` <br /> City Clerk <br /> 27 <br /> 28 Valid: 7 <br /> 29 <br /> Passed: 7,2 <br /> 30 <br /> Published: `79 <br /> 31 <br /> 32 <br />