Chapter 3.46
2007 LIMITED TAX GENERAL OBLIGATION BOND FUND
Sections:
3.46.010 2007 limited tax general obligation bond fund – Created.
3.46.010 2007 limited tax general obligation bond fund – Created.
There is hereby created for the city of Longview a debt service fund to be designated as “2007 limited tax general obligation bond fund” into which all 2007 limited tax general obligation and refunding bond proceeds received from the sale of 2007 limited tax general obligation and refunding bonds shall be deposited. (Ord. 3041 § 1, 2008).
3.46.020 Expenditures.
Checks, pursuant to RCW 35A.40.020, or warrants, may be drawn on said fund only as authorized by the rules and regulations for such fund. The proceeds from the sale of bonds will be used to (1) improve, expand and rehabilitate the Columbia Theatre pursuant to an agreement with the Cowlitz County Public Facilities District; (2) refund a portion of the city’s outstanding debt to obtain the benefit of savings in annual and total debt service requirements; and (3) pay the costs of issuance of the bonds. Additionally, the 2007 LTGO bond fund is hereby authorized to be created for the purpose of paying the principal of and interest on the bonds as specified in Ordinance No. 3031, Limited Tax General Obligation and Refunding Bonds, 2007, passed by the city council on December 13, 2007. (Ord. 3041 § 1, 2008).