RES 2011-06 RESTRICTING A PORTION OF THE FUNDS REMAINING IN THE LTGORESOLUTION NO. 2011-06
A RESOLUTION of the City Council of Bainbridge Island,
Washington, restricting a portion of the funds remaining in
the City of Bainbridge Island, Washington, Limited Tax
General Obligation Bonds, 2008.
WHEREAS, on September 10, 2008, the City Council passed Ordinance No.
2008-25 authorizing the issuance of the Limited Tax General Obligation Bonds, 2008
(the "Bond") in order to fund certain non -motorized transportation improvements, road
repairs and related public works improvements, and parks, open space and community
center improvements; and
WHEREAS, one of the projects identified in the Bond was acquisition of
easements and construction of trails using trail priority recommendations from the Non -
Motorized Transportation Advisory Committee; and
WHEREAS, City Council wishes to designate $26,000 from the remaining Bond
proceeds for the acquisition of non -motorized trail easements and construction of trails as
recommended by the Non -Motorized Transportation Advisory Committee and approved
by City Council; now, therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND DOES
RESOLVE AS FOLLOWS:
Section 1. Proceeds from the Bond in the amount of $26,000 are hereby restricted
for use solely on the acquisition of one or more non -motorized trail easements and
construction of trails to be approved by City Council upon recommendation by the Non -
Motorized Transportation Advisory Committee.
PASSED by the City Council this 16th day of March, 2011.
APPROVED by the Mayor this 16th day of March, 2011.
By: --
Kirsten Hytopoulos, Mayor
ATTEST/AUTHENTICATE:
Rosalind Dk
D. Lassoff, City CPdr
FILED WITH THE CITY CLERK: March 11, 2011
PASSED BY THE CITY COUNCIL: March 16, 2011
RESOLUTION NO. 2011-06