Chapter 3.20
SWIMMING POOL CUMULATIVE RESERVE FUND

Sections:

3.20.010  Created.

3.20.020  Purpose.

3.20.030  Sources.

3.20.040  Accumulation – Expenditures.

3.20.050  Other uses to be voted upon.

3.20.060  Investment.

3.20.010 Created.

There is hereby created and established a fund to be designated as the swimming pool cumulative reserve fund pursuant to the provisions of RCW 35.21.070 and 35.21.080. (Ord. 267 § 1, 1973)

3.20.020 Purpose.

The swimming pool cumulative reserve fund is created for the purpose of buying supplies, materials and equipment, for paying salaries and wages, and to provide for the alteration and repairs necessary for the maintenance and operation of the Julia Butler Hansen Municipal Swimming Pool. (Ord. 267 § 2, 1973)

3.20.030 Sources.

There shall be placed in said fund from time to time such sums as may be directed by ordinance as may be provided for in the annual budget of said town, as shall be received from fees for services or use of said pool, and such other sum or sums as may, from time to time, be contributed for the purpose of said swimming pool cumulative reserve fund. (Ord. 267 § 3, 1973)

3.20.040 Accumulation – Expenditures.

The monies in the swimming pool cumulative reserve fund shall be allowed to accumulate from year to year and shall be expended by the council for the purposes of said fund upon vouchers submitted for payment in the manner provided by law. (Ord. 267 § 4, 1973)

3.20.050 Other uses to be voted upon.

The monies in said fund shall only be expended for the purposes as hereinbefore set forth and shall never be expended for any other purpose or purposes other than those specified herein without an approving vote by a majority of the electors of said town at a general or special election voting on a proposal submitted to the electors to allow other specified uses to be made of said fund. (Ord. 267 § 5, 1973)

3.20.060 Investment.

The monies in said fund may be invested in the manner provided by law with the income from such investments to inure to the credit of, and become a part of, said fund. (Ord. 267 § 6, 1973)