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Thursday, June 2, 2005
Land excise-tax fund would pay for trail
King County would likely take $3.8 million from its real estate-excise tax fund for an earnest-money deposit on the 47-mile stretch of Burlington Northern Santa Fe Railway right of way that County Executive Ron Sims wants the county to buy for a trail.
No sale price for the property has been revealed.
Sims' aide Brooke Bascomb identified the excise-tax fund as the source for the deposit. It generates $12 million to $16 million a year from real estate sales, and can be tapped by the Department of Natural Resources and Parks for capital projects and acquiring land, she said.
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