Chapter 3.10
CAPITAL PROJECT REET 1 FUND
Sections:
3.10.010 Establishment and purpose.
3.10.010 Establishment and purpose.
There is hereby created a capital projects REET 1 fund (real estate excise tax) which shall be used for the purpose of funding capital improvements allowed under state statutes. (Ord. 967-07)
3.10.020 Funding sources.
The funding source shall be real estate excise tax imposed and collected under Chapter 3.50 SMC. (Ord. 967-07)
3.10.030 Expenditures.
Expenditures from the fund shall be made as appropriated and authorized in the city’s annual operating budget. Funds must be used for capital purposes identified in a capital improvements plan and local capital improvements, including those listed in RCW 35.43.040. (Ord. 967-07)