HomeMy WebLinkAboutORDINANCE 1640-1995Suggested by: Finance
City of Kenai
ORDINlINC$ NO. 160-95
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AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA
INCREASING ESTIMATED REVENUES AND APPROPRIATIONS SY $4,967
FOR THE AIRPORT DRAINAGE AND SAFETY CAPITAL PROJECT FUND.
WHEREAS, the City is required by State law to pay interest
on retainage held on construction contracts; and
WHEREAS, the FAA does not consider interest to be an
eligible cost for reimbursement; and
WHEREAS, because the City must finance the interest on
retainage, the City's share of the project is under-funded
by $4,967, even though final costs are within the budget.
NOW, THEREFORE, SE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA that estimated revenues and appropriations be
increased as follows:
Airport Land S,_„~,vstem
Increase Estimated Revenues:
Appropriation of Fund Balance
Increase Appropriations:
M & O - Transfers Out ~9 6~
Increase <Decrease> Estimated Revenues:
Transfer from Airport $ 4,967
FAA Grant <4,967>
0
Introduced:
Adopted:
Effective:
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Approved by Finance: ~~~
(3/21/95) kl
April 5, 1995
April 19, 1995
April 19, 1995
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PASSED BY THE COUNC?:L OF THE CITY OF KENAI, ALASKA, this
19th day of Atiril. 1995. r"'