HomeMy WebLinkAbout11-021 Transfer from Contingency Fund to Fire FundRESOLUTION NO. 11-021
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND,
WASHINGTON APPROVING THE TRANSFER OF $54,995.23 FROM THE CITY'S
CONTINGENCY FUND TO THE FIRE FUND
RECITALS:
A. The City maintains a contingency fund pursuant to RCW 35A.33.145 with a current
balance of approximately $110,000.
B. In 2010, to address the imbalance in fire service funding created by the District's 2010
approval of a $1.00/$1,000 assessed value levy lid lift, the City Council approved an
amendment to the 2007 Interlocal Agreement with the Fire District to provide that the
City would pay the District an amount equal to the District's 2010 capital bond debt
service. The funding would come from the Proposition 1 sales tax receipts (half of which
the City earmarked for County Memorial Field and other park improvements).
C. For 2011, the District debt service amount is $179,995.75. Sales tax revenue for 2011 is
estimated at $250,000. The one-half eannarked for District debt service is $125,000,
leaving a shortfall of $54,995.75.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Port Townsend as follows:
The City Council approves the transfer of $54,995.23 from the City's contingency fund to the fire
fund to cover the City's obligation to the Fire District for debt service, pursuant to a 2010
Amendment to the 2007 Interlocal Agreement with the Fire District.
ADOPTED by the City Council of the City of Port Townsend at a regular meeting
thereof, held this 11 th day of July 2011.
Attest:
Pamela Kolacy, MMC "
City Clerk
Michelle Sandoval, Mayor
Approved as to form:
John P. Watts
City Attorney