Chapter 5.76


5.76.010    Fund established.

5.76.020    Permitted uses.

5.76.030    Deposits and expenditures—Continuing appropriations.

5.76.010 Fund established.

The director of finance and administration is directed to establish a fund to be known as the “real estate excise tax revenue municipal capital improvement fund.” All moneys received by the city from the treasurer for King County in distribution of the real estate excise tax imposed by the city pursuant to Chapter 5.18 of this code and Chapter 82.46 RCW, shall be deposited in the fund created by this chapter. (Ord. 4416 § 34, 2013: Ord. 3573 § 48, 1997: Ord. 2672 § 1, 1982)

5.76.020 Permitted uses.

The moneys in the fund created by this chapter shall be used by the city for public local improvements, including, but not by way of limitation, those listed and authorized in RCW 35.43.040. (Ord. 2672 § 2, 1982)

5.76.030 Deposits and expenditures—Continuing appropriations.

The city council may direct the transfer to or deposit in said fund such additional grants, gifts, moneys or general city revenues as it may authorize by ordinance, resolution or motion duly passed. Authorization to transfer or expend moneys from said fund shall be subject to approval by the city council. Such approval may be expressed by the inclusion of an item therefor in the biennial budget or such other appropriate action by the city council as may be permitted by law. Such authorization shall not lapse at the end of the biennium but may be carried forward; provided, that such carried forward appropriation should be included and so identified in the budget for succeeding years. (Ord. 4566 § 7, 2017: Ord. 2672 § 3, 1982)