HomeMy WebLinkAbout2333 Limiting Use of Real Estate Excise TaxORDINANCE NO.
AN ORDINANCE AMENDING CHAPTER 3.28 OF THE PORT ToWNSEND
MUNICIPAL CODE RELATING TO THE REAL ESTATE EXCISE TAXAND
LIMITING THE USE OF THE PROCEEDS THEREFROM TO BE
CONSISTENT WITH THE PROVISIONS OF STATE LAW.
Section 1. Chapter 3.28.090 of the Port Townsend Municipal Code is
hereby amended to read as follows:
3,28.090 Distribution and use of tax proceeds. A. The
Jefferson County Treasurer shall place one percent of the proceeds
of the taxes imposed herein in the Jefferson County current expense
fund to defray the costs of collection.
B. The remaining proceeds from city taxes imposed herein shall
be distributed to the city monthly and those taxes imposed under
section 3.28.010 shall be placed by the City Clerk-Treasurer in a
fund to be known as the "Capital Improvement Fund." These capital
improvement funds shall be used by the city solely for local
imprcvcmcnt~ ~..~ ~A--A ~A~ ~ ~'~ .= ~o ~ financin~
capital projects as defined by RCW 82.46.010(60 that are specified
in the city's capital facilities plan and housinq relocation
assistance under RCW 59.18.440 and 59.18.450.
C. This section shall not limit the existing authority of this
city to impose special assessments on property benefited thereby in
the manner prescribed by law.
Section 2. This ordinance shall take effect after passage, approval
and publication in the form and manner provided by law.
Read for the first, second and t~L~rd times, passed by the City
Council ~or the city of Port Tow~nd,~ app/~d~ed and signed by the
Mayor this 21st day of December~ 1992.~ //
~or? John M. Clise
Attes~q~)~
David A. Grove, Clerk/Treasurer
Approved as to form:
~Y