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AN ORDINANCE establishing the Harborview Medical Center capital program 2020 Proposition 1 other revenues fund; and adding a new section to K.C.C. chapter 4A.200.
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STATEMENT OF FACTS:
On November 3, 2020, county voters passed Proposition 1 with an approving vote of 76.38 percent, authorizing the issuance of series of unlimited tax general obligation bonds to finance a substantial capital improvement program to complete public health, safety and seismic improvements to Harborview Medical Center facilities.
The Harborview Medical Center capital program 2020 Proposition 1 other revenues fund creates a fund for alternative revenue sources to fund projects associated to, but not funded by, the 2020 Proposition 1 bond revenue program.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
NEW SECTION. SECTION 1. There is hereby added to K.C.C. chapter 4A.200 a new section to read as follows:
A. There is hereby created the Harborview Medical Center capital program 2020 Proposition 1 other revenues fund.
B. The fund shall be a first tier fund. It is a capital project fund.
C. The director of the department of executive services shall be the manager of the fund.
D. The fund shall be used to account for the alternative revenue sources to fund projects associated to, but not funded by, the 2020 Proposition 1 bond revenue program.