HomeMy WebLinkAboutORDINANCE 1674-1996 j:
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Suggested By: Finance Department
City of Kenai
ORDINANCE NQ. 16?4.96
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AN ORDINANCE OF THE. COUNCIL OF THE CITY OF KEN~Ai, ALASKA
INCREASING ESTIMATED REVENUES AND. AppROPRIATIONS BY` $5,340 IN
THE GENERAL FUND AND THE .AIRPORT LAND SALE TRUST FUND FOR THE
PURCHASE OF PROPERTY ADJACENT TO THE KENAi S~NIOR.t'ENTE~ ONTO
WHICH A STORAGE BUILDING HAS BEEN RELOCATED.
WHEREAS, the City of Kenai relocated a storage building adjacent to the Senior Center;
and
WHEREAS, the land onto which the building waa relocated is an asset of the Airport
Land Sale Trust Fund; and
WHEREAS, in accordance with KMC 22.05.025, the conveyance of Airport lands is not
effective until the Kenai City Council appropriates by ordinance from the General Fund to
the Airport Land Sale Trust Fund the difference between the appraised fair market value
of the Airport lands and the purchase price set forth in the conveyance; and
WHEREAS, the fair market value of the Airport Land is $5,300 and the conveyance price
is $0, thus making the difference between the two $5,340.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA. that estimated revenues and appropriations be increased or decreased
as follows:
~', er 1 Fund
Increase Estimated Revenues
Appropriation Of Fund Balance
Increase Appropriations
Land • Land
Increase Estimated Revenues
Land Sales
$ 5,300
$ 5,300
$ 5,300
Increase Appropriations
. Reserved Fund Balance $ 5,300
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Qrdunance.No. 1674-96
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,. Attest:
Carol L. Freas, City Clerk
J. WILLIAMS, MAYQR
Introduced: February 7, 1996
Adopted: February 21, 1996
Effective: February 21, 1996
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Approved By Finance:
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CITY OF KENAI
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~ 210 FIDALGO AVE.. SUITE 200 KENAI, ALASKA 89611-7784
TELEPHONE 80T-283-7535
FAX 807.283-3014
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To: Thomas J. Manninen Ci Mana er
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From. Kun Howard, Admmistratrve Assistant 1
Date: January 24, 1996
RE: Purchase of Airport Land for General Fund Purpose
Yesterday I received the FAA's approval for the appraisal that was performed on the
property adjacent to the Senior Center for the storage building. As you are aware, the
General Fund is obligated to compensate the airport the fair market value of the
property.
The fair market value is ~5,30~. I did not budget for this unanticipated purchase in the
FY95-96 General Fund Land account.
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In the past, when the General Fund was obligated to pay the airport under similar
circumstances, the City Manager directed the Finance Director to prepare an ordinance
appropriating money to the Land Administration -Land account for payment to the
Airport Land Sale Trust Fund.
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