Chapter 3.59
PUBLIC WORKS TRUST FUND

Sections:

3.59.010    Created – Authorization.

3.59.020    Source of moneys.

3.59.030    Expenditures.

3.59.040    Transfer.

3.59.010 Created – Authorization.

There is created in the Office of the City Clerk-Treasurer a fund to be known as the “public works trust fund,” as prescribed by the Washington State Auditor’s Office (RCW 43.09.200). (Ord. C-470, 2001)

3.59.020 Source of moneys.

The public works trust fund shall be credited with all applicable funds received as loan proceeds from the Washington State Public Works Board in accordance with a loan agreement Number PW-01-691-002, all interest earned on public works trust fund moneys held by the City of Airway Heights as provided for in the loan agreement and local project share revenue. (Ord. C-470, 2001)

3.59.030 Expenditures.

The deposits into the trust fund, including interest earned thereon, shall be appropriated and expended for only those project activities described in Attachment I: Scope of Work to the public works trust fund agreement Number PW-01-691-002. (Ord. C-470, 2001)

3.59.040 Transfer.

No sum shall be transferred from this fund except upon resolution duly passed by the City Council. (Ord. C-470, 2001)