ORD 92-46 FUND TO SEGREGATE ACCOUNTING OF CAPITAL RELATED TO UTILITIESORDINANCE No. 92 - 46
AN ORDINANCE OF THE CITY OF BAINBRIDGE ISLAND
ESTABLISHING A FUND TO SEGREGATE THE ACCOUNTING
FOR CAPITAL IMPROVEMENTS RELATED TO UTILITIES.
WHEREAS, it is the intent of the City of Bainbridge Island to
to make all necessary refurbishments and improvements to the City's utility
infrastructure and to clearly account for those capital improvements, and
WHEREAS, it is in the best interests of the citizens of
Bainbirdge Island for this ordinance to go into effect during 1992 and in
order to do this the City's three reading requirement be waived, now,
therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON,
DO ORDAIN AS FOLLOWS:
SECTION 1. There shall be established a Utilities Capital Improvement
Fund to better identify and to provide segregated accounting and control
for expenditure of monies identified for the purpose of making capital
improvements connected with the city's utilities, and as contained in either
the City's Capital Improvements Plan or its successor, the Capital
Facilities Element of the City's Comprehensive Plan now under development.
SECTION 2. All uses of funds now accounted for in the city's Utilities
Fund which have been or are intended to be used for utility-related capital
improvements shall be transferred to the Utilities Capital Improvements Fund
together with an equal amount of operating revenues.
SECTION 3. The City's Finance Director is hereby authorized and
directed to make the necessary and appropriate changes to the 1992 and
subsequent budgets in accordance with this ordinance.
SECTION 4. Any acts made consistent with the authority and prior to
the effective date of this ordinance are ratified and confirmed.
SECTION 5. This ordinance shall take effect and be in force five days
from and after its passage, approval, publication and posting as
required by law.
PASSED by the City Council this 17th day of December, 1992.
APPROVED by the Mayor this 18th day of December, 1992.
· RANATO, Mayor
ATTE S T /AUTHEN T I CATE:
RALPH W. EELLS, Finance Director
APPROVED AS TO FORM:
ROD P. KASEGUMA, City Attorney
FILED WITH THE CITY CLERK: 12-17-92
PASSED BY THE CITY COUNCIL: 12-17-92
PUBLISHED: 12-23-92
POSTED: 12-23-92
EFFECTIVE DATE: 12-28-92
ORDINANCE 92 - 46