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HomeMy WebLinkAbout1977-2141 CREATING “ANTI-RECESSION FISCAL ASSISTANCE FUND”; DESIGNATING ITS REVENUE, & SPECIFYING ITS PURPOSES & REGULAT ORDINANCE NO. AN ORDINANCE relating to funds and accounts; creating an "Anti- recession Fiscal Assistance Fund" and designating its source of revenue, specifying the purposes of such fund and regulating expenditures therefor; enact- ing Chapter 3.02, "Antirecession Fiscal Assistance Fund", and the various sections thereof as a new' chap- ter 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 3.02, "Antirecession Fiscal Assistance Fund", and sections 3.02.010, 3.02.020, and 3.02.030, are hereby enacted as a new chapter and new sections of the City of Yakima Muni- cipal Code to read as follows: "Chapter 3.02 ANTIRECESSION FISCAL ASSISTANCE FUND 3.02.010 Fund created--Source of Revenue. There is created a special fund to be known as the 'Antirecession Fiscal Assistance Fund'. There shall be deposited into such fund all money received by the City under the Federal 'Intergovernmental Antirecession Assistance Act of 1977', together with all interest earned from the investment of money within the fund. 3.02.020 Purposes. Expenditures from such fund shall be made only for purposes allowed by the Federal 'Intergovernmental Antirecession Assistance Act of 1977'. 3.03.030 Expenditures from the 'Antirecession Fiscal Assistance Fund' shall be made only for the purposes specified in Section 3.02.020 of this chapter. No expen- diture shall be made from such fund unless the Yakima City Council approves such expenditure by passing an ordinance appropriating money within such fund for the purpose for which the expenditure is to be made, or by including an appropriation for such purposes in the budget." Section 2. This ordinance is one to provide for the immediate • preservation of the public peace, property, health, safety and wel- fare of the people of the City of Yakima and an emergency is hereby 111 declared to exist and this ordinance shall be in full force and effect immediately upon its passage, approval and publication as provided by law and by the City Charter. • PASSED BY THE CITY COUNCIL, signed and approved this /7 day of w .,64. , 1977. • Mayor ATTEST: Cit;' Clerk / • • -2-