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AN ORDINANCE proposing an amendment to the King County Charter removing restrictions related to the disposition of real property for less than full value when the property would be used for affordable housing; amending Section 230.10.10 of the King County Charter; and submitting the same to the voters of the county for their ratification or rejection at the next general election to be held in this county occurring more than forty-five days after the enactment of this ordinance.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. There shall be submitted to the qualified voters of King County for their ratification or rejection, at the next general election to be held in this county occurring more than forty-five days after the enactment of this ordinance, an amendment to Section 230.10.10 of the King County Charter to read as follows:
230.10.10 Metropolitan Municipal Functions. Each metropolitan municipal function authorized to be performed by the county pursuant to ((RCW ch.)) chapter 35.58 RCW shall be operated as a distinct functional unit. Revenues or property received for such functions shall never be used for any purposes other than the operating expenses thereof, interest on and redemption of the outstanding debt thereof, capital improvements, and the reduction of rates and charges for such functions. To the extent not otherwise prohibited by law, this section shall not preclude the county from leasing, selling or conveying the properties at less than fair market value for affordable housing purposes.
SECTION 2. The clerk of the council shall certify the proposition to the director of elections, in substantially the following form, with such additions, deletions or modifications as may be required by the prosecuting attorney:
Shall Section 230.10.10 of the King County Charter be amended to allow
the county to dispose of real property for less than full value, in some cases, if the property will be used for affordable housing?

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