CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE related to publicly financed elections creating a fund for election vouchers.
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WHEREAS, the voters of the City approved City of Seattle Initiative Measure 122 through the November 3, 2015 general election; and
WHEREAS, City of Seattle Initiative Measure 122 creates a voluntary program for public campaign financing and authorizes a property tax increase to fund the program; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. A new Election Vouchers Fund is created in the City Treasury effective January 1, 2016, to which revenues may be deposited, and from which associated expenditures may be paid including, but not limited to, operating, maintenance, capital and City administration costs for the purposes described in Section 2 below.
Section 2. The purpose of creating the Election Vouchers Fund is to separately account for the expenditures of the Seattle Ethics and Elections Commission in administering a publicly financed election program created by City of Seattle Initiative Measure 122.
Section 3. The new Election Vouchers Fund shall receive revenues from the voter-approved property tax increase authorized by City of Seattle Initiative Measure Number 122, the General Fund, and other monies as authorized. The Fund shall receive earnings on its positive balances and pay interest on its negative balances.
Section 4. The Executive Director of the Seattle Ethics and Elections Commission shall have responsibility for administering the Election Vouchers Fund. The Director of Finance is authorized to create other Subfunds, Accounts, or Subaccounts as may be needed to implement the Fund's purpose and intent as established by this ordinance.
Section 5. This ordinance shall take effect and be in force 30 days after its approval by the Mayor, but if not approved and returned by the Mayor...
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