Title

AN ORDINANCE creating the veterans, seniors and human services levy fund; and adding a new section to K.C.C. chapter 4A.200.

Body

PREAMBLE:

At a special election held in King County on November 7, 2017, the qualified electors of King County approved a proposition authorizing an additional property tax for six years beginning with a rate of ten cents per one thousand dollars of assessed valuation for collection in 2018, the first year levy amount being the base for computing annual increases up to three and one-half percent for collection in 2019 through 2023, as provided in Ordinance 18555.  Ordinance 18555, Section 3, requires levy proceeds to be deposited in a special revenue fund, which fund is created by this ordinance.

                     BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:

                     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 veterans, seniors and human services levy fund.

                     B.  The fund shall be a first tier fund.  It is a special revenue fund.

                     C.  The director of the department of community and human services shall be the manager of the fund.

                     D.  The fund shall account for the proceeds of the property tax levy in excess of the levy limitation contained in chapter 84.55 RCW that was approved in accordance with Ordinance 18555.  The six-year levy commencing in 2018, is for the express purpose of paying costs consistent with Ordinance 18555.