Drafter
Clerk 06/25/2019
Title
AN ORDINANCE relating to the transfer of funds to the cultural development authority; and amending Ordinance 14482, Section 18, as amended, and K.C.C 2.49.170.
Body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 14482, Section 18, as amended, and K.C.C 2.49.170 are each hereby amended to read as follows:
A. King County shall transfer future fund balances as follows:
1. Unless otherwise agreed to by King County and the cultural development authority, the ((H))hotel-motel tax revenues designated by the state of Washington for cultural purposes in King County shall be transferred to the authority within ten business days of receipt by King County from the state of Washington and appropriated by the county council. Twice each year while cultural bonds or any other debt obligations of the cultural development authority to the county remain outstanding, the authority shall transfer back to King County sufficient hotel-motel tax revenues to allow the county to make required payments on the bonds or any other debt obligations of the cultural development authority to the county;
2. Current expense amounts appropriated to the arts and cultural development fund, which shall be transferred to the authority not later than January 10 of the year for which those amounts have been appropriated.
3. Public art revenues, which shall be transferred to the authority not later than February 1 of the year for which those revenues have been appropriated;
4. Except for funds listed in subsection A.1. of this section, state and federal funds for cultural purposes, which shall be transferred to the authority within ten business days of receipt by King County of the funds from the federal or state governments; and
5. All other funds and fees appropriated to the arts and cultural development fund and for cultural purposes, which funds and fees shall be transferred to the authority within ten business days of recei...
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