HomeMy WebLinkAboutord1983-0181
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DATE February 17, 1083 INTRODUCED BY Hansey
PROPOSED BY County Executiv e
ORDINANCE NO.. 83 -18
AN ORDINANCE ESTABLISHING
THE REAL ESTATE EXCISE TAX
CAPITAL IMPROVEMENT FUND
WHEREAS, the Whatcom County Council approved Ordinance 82-
69 on October 7, 1982, imposing a one - quarter (1/4) of one
percent tax on the sale of real property in the
unincorporated areas of Whatcom County, as authorized by
the Legislature of the State of Washington (Chapter 49,
Sections 11 - 16, Laws of 1982, First Extraordinary
Session), and
WHEREAS, Section 5 (subsection 2) provides that one
percent of the proceeds of the taxes imposed under that
Ordinance shall be deposited into Current Expense to
defray costs of collection, and the balance of proceeds
shall be placed in a County capital improvements fund, and
WHEREAS, it is necessary to establish a County capital
improvements fund for the proceeds from the, County Real
Estate Excise Tax under Ordinance No. 82 -69 to be placed
into;
NOW, THEREFORE, BE IT ORDAINED there is established a Real
Estate Excise Tax Capital Improvement Fund which shall be
designated with fund number 0326 -0034;
BE IT FURTHER ORDAINED the purpose of this fund shall be
to hold proceeds collected under the Real Estate Excise
Tax;
BE IT FURTHER ORDAINED the expenditures from this fund
shall be for local capital improvements, including those
listed in R.C.W. 35.43.040, and that a portion of the
proceeds, in an amount to be determined, shall be reserved
to redeem a $1,000,000.00 Councilmanic bond issue, and
that said issue shall be used to repair major storm damage
to the Whatcom County road system;
Ordinance - cont. 2
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Ordinance cont. - 2 of 2
BE IT FURTHER ORDAINED the County Executive shall be the
Custodian of this fund.
APPROVED this
17th
-ATTEST:
' Glerk Ot The Counc 1
day of March , 1983.
APPROVED AS TO FORM:
BRUCE L. DISEND, Civil Deputy
Prosecuting Attorney
WHATCOM COUNTY COUNCIL
WHA OM CO U TY, AS NGTON
W 0 rE
Chairperson
(1Q APPROVED ( ) VETOED
JOHNAOUWS
County Executive
March 18, 1983
Date
Published on 3/6/83 and 3/25/83
This ordinance becomes effective on 3/28/83