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AN ORDINANCE relating to the allocation of funding within a capital improvement project in the conservation futures capital fund; making a supplemental appropriation of eleven million dollars to the conservation futures fund; and amending the 2019-2020 Biennial Budget Ordinance, Ordinance 18835, Sections 126 and 126, as amended, and Attachment A and Attachment A, as amended.
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PREAMBLE:
The King County conservation futures tax levy is collected from a dedicated portion of property taxes from throughout King County and its cities, for purchase of natural resource lands and passive open space.
Ordinance 18774 adopted in 2018 set a goal to accelerate the pace of land conservation by issuing bonds backed by conservation future revenues. The 2019-2020 Biennial Budget Ordinance included twenty-four million dollars in spending authority in a conservation futures bond project. The Conservation Futures Advisory Committee has issued recommendations for up to thirty five million dollars in bond projects in its "Recommendations for the Allocation of 2020 Conservation Futures Tax Levy and Parks Levy Open Space Acquisition Funding" report. This ordinance makes a supplemental appropriation of eleven million dollars to the conservation futures fund. This ordinance allocates the King County conservation futures tax levy appropriation to subprojects within the bond project as recommended by the committee report.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. This ordinance makes a net supplemental appropriation of eleven million dollars to the conservation futures subfund.
SECTION 2. Ordinance 18835, Section 126, as amended, is hereby amended by inserting the following:
From the several capital improvement project funds there are hereby disappropriated the following amounts for the specific projects identified in Attachment A to this ordinance (Proposed Ordinance 2019-0290).
Fund Fund Name 2019-2020
3151 CONSERVATION FUTURES LEVY SUBFUND ($24,000,00...
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