3.09.030 Real estate excise tax.
There is hereby established a fund known as the real estate excise tax fund (fund 102) as follows:
A. Purpose. The purpose of this fund shall be to account for certain funds as follows:
1. First 0.25 percent real estate excise tax authorized by RCW 82.46.010, and dedicated for the capital purposes defined in RCW 35.43.040.
2. Second 0.25 percent real estate excise tax authorized by the Growth Management Act, RCW 82.46.035. These revenues are restricted to financing capital project specified in a capital facilities plan.
B. Revenue Sources. The revenue sources of this fund shall be as follows:
1. The first 0.25 percent shall be from real estate excise tax authorized by RCW 82.46.010, and other revenue sources that may be authorized by the City Council.
2. The second 0.25 percent shall be from real estate excise tax authorized by RCW 82.46.035 and other revenue sources that may be authorized by the City Council. [Ord. 599 § 1, 2014; Ord. 589 § 4, 2014.]