At the local scout camps they have a wooden box that holds 3-4 metal trash cans. They run heavy bungees through the hande of the lid and into screw eyes that are set a little lower than the lids on each side of the wooden box. This seems to do the trick. They also put lathe on the sides of the wooden box. It makes it look a little nicer.
Also, we have now one of those large purple plastic trash cans on wheels from waste management and the racoons cannot climb up it. There is nothing around for them to jump on to get on it or knock it over. Have had no problems with this model.
While I would not kill it, I would discourage it from hanging around becasue of the problems that they can cause and the diseases as mentioned by others.
When I was a kid we befriended a young male raccoon. It would come around every night and play with us and the dogs. Then it started getting a little aggressive in its search for food. Then it got very aggressive and less playfull. It would slit the screens in the windows and come inside. It would grab your clothes and start climbing up you. It would growl if you grabbed it and threw it out of the house, turn around and come right back in. It finally climbed on the roof and started clawing holes in the roof(tar and gravel roof). It did big $$$ damage. My father got a permit and live trapped it and the Conservation Officer took it and released it at a state park. Nowadays, I think they destroy nuisance pests. The problem was, we created the nuisance pest by befriending it and my dad realized it. He said most folks just would have shot it, but it was our fault and he was right so the raccoon lived.
Take away its food source and it will still come around and look, but move on, kind of like making the rounds in your neighborhood. Eventually it will find easier food somewhere else.