Chapter 3.11


3.11.010    Establishment and purpose.

3.11.020    Funding sources.

3.11.030    Expenditures.

3.11.010 Establishment and purpose.

There is hereby created a capital projects REET 2 fund (real estate excise tax) which shall be used for the purpose of funding capital improvements allowed under state statutes. (Ord. 986-07)

3.11.020 Funding sources.

The funding source shall be real estate excise tax imposed and collected under Chapter 3.51 SMC. (Ord. 986-07)

3.11.030 Expenditures.

A. Expenditures from the fund shall be made as appropriated and authorized in the city’s annual operating budget. Funds must be used for capital projects.

B. For this quarter percent of real estate excise tax, capital project means those public works projects of a local government for planning, acquisition, construction, reconstruction, repair, replacement, rehabilitation, or improvement of streets, roads, highways, sidewalks, street and road lighting systems, traffic signals, bridges, domestic water systems, storm and sanitary sewer systems, and planning, construction, reconstruction, repair, rehabilitation, or improvement of parks. (Ord. 986-07)