HomeMy WebLinkAbout1974-1654 CREATING A CAPITOL THEATRE FUND; ENACTING CHAPTER 3.97. ORDINANCE NO.
AN ORDINANCE relating to funds and accounts; creating a Capitol
Theatre Fund as a special find and designating the
source of money therefor and specifying the purpose
110 thereof; enacting Chapter. 3.97 and sections thereof
as a new chapter and new sections of the City of
Yakima Municipal Code; and declaring an emergency.
BE IT ORDAINED BY THE CITY OF YAKIMA : •
Section 1. Chapter 3.97, •"Capitol Theatre Fund", and various
sections thereof are hereby enacted as a new chapter and new sec-
tions of the City of Yakima Municipal Code to read as follows:
"Chapter 3.97
Capitol Theatre Fund
3.97.010 Fund Created--Purpose. There is hereby created
a special fund to be known as the Capitol Theatre Fund.
M oney in such fund shall be expended for the purpose of
acquiring title for the City to the premises known as the
Capitol Theatre in the City of Yakima by means of purchasing
real property and exchanging it for the Capitol Theatre premises,
all as contemplated and authorized by City of. Yakima Resolu-
tions Nos.. 3109 and 3110, both adopted April 8, 1974, and
including the payment of real estate commissions, closing •
costs and other miscellaneous costs incurred in connection
with the transactions mentioned above by which the City
acquires title to the Capitol Theatre premises. Money in
such fund may also be expended for the repair and restora-
tion of the Capitol Theatre building and fixtures and appur-
tenances thereto, and for other capital expenditures incurred
by the City arising from the ownership of the Capitol Theatre
premises.
3.97.020 Source of Funds. The sources of money to
be deposited in the Capitol Theatre Fund shall include
Federal Shared Revenue to be transferred to such fund as
authorized by the City Council; state and federal grants;
rental of the Capitol Theatre premises; and other sources
of available funds as may be authorized by the City Council
from time to time.
3.97.030 Expenditures. Expenditures from the Capitol
Theatre Fund shall be made only for the purposes specified
in Section 3.97.010 of this chapter. No expenditures shall
411 be made from such fund unless the City Council approves
such expenditure by passing an ordinance appropriating money
w ithi n , such fund for the purpose for which the expenditure
is to be made, or by including an appropriation for such
purpose in the budget."
Section 2. This ordinance is one to provide for the immediate
preservation of the public peace, property, health, safety and
welfare of the people of the City of Yakima and an emergency is
hereby declared to exist and this ordinance shall be in full force
and effect immediately upon its passage, approval and publication
410 as provided by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved 4,57,4
j
day of J� ` / 1974.
e rd-0 4 14
Mayor
ATTEST:
`r y Clerk
,411
411
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