Drafter
Clerk 06/19/2002
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A MOTION authorizing expenditure from the major maintenance reserve fund budget authority in the 2002 budget.
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WHEREAS, the council's 2002 budget restricted expenditure from the major maintenance reserve fund pending approval of the executive's report detailing the evaluation of the effectiveness of the major maintenance through a budget proviso contained in the 2002 Budget Ordinance, Ordinance 14265, Section 119, and
WHEREAS, the executive has submitted to the council his report in response to this proviso, and
WHEREAS, this response contains the executive's evaluation of the effectiveness of the major maintenance program as outlined in K.C.C. 4.08.250D.4, an evaluation of the major maintenance financing model's accuracy in estimating life-cycle maintenance cost and the completion rates for projects funded by the major maintenance reserve fund in the fiscal years 1999, 2000 and 2001, included as Attachment A to this motion, and recommendation pertaining to fund balance reserve policy, and
WHEREAS, the council now must approve this response by motion in order to release expenditure authority from the fund:
NOW, THEREFORE, BE IT MOVED by the Council of King County:
The council confirms that the executive has met the conditions set forth in the 2002 budget proviso calling for the submittal of a report detailing the evaluation of the effectiveness of the county's major maintenance program as outlined in K.C.C. 4.08.250D.4.
The executive is authorized to expend or encumber $6,492,277 of the 2002 appropriation amount for fund 3421.