Title
AN ORDINANCE establishing a new special revenue fund, the fund to reduce energy demand for cities fund; and adding a new section to K.C.C. chapter 4A.200.
Body
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 fund to reduce energy demand for cities fund.
B. The fund shall be a first tier fund. The fund is a special revenue fund.
C. The director of the department of natural resources and parks shall be the manager of the fund.
D. Revenues for the fund to reduce energy demand for cities program shall be deposited in the fund, including bond proceeds and city loan repayments.
E. Moneys in the fund shall only be used for loans to cities under the fund to reduce energy demand for cities program, for debt service payments for county bonds issued for the program, to pay other financing for the program, or for other county programmatic costs.