HomeMy WebLinkAboutORDINANCE 1506-1992~..~
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SUBSTITUTE
Suggested by:
Administration
City of Kenai.
ORDINAN(2~ N0. ].506-92
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AN ORDINANCE OF TIDE COUNCIL OF THB CITX OF KENAI, ALPi9KA INCREASING.
ESTIMATED REVENUES AND APPROPRIATIONS SX $5,462,915 IN THE COURT
FACILITY CAPITAL PROJECT FUND.
WHEREAS, the City is planning to construct a new court facility for
the State of Alaska, financed by grant monies and 3,oan proceeds; and
WHEREAS, the City will lease the facility to the State and will assign
its rights in the lease to the lender.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA, that estimated revenues and appropriations be increased as
follows:
Court Facility Capital Project
Increase Estimated Revenues:
State Grant (through Dept. of Revenue) $1,188,415
Loan Proceeds (through Dept. of Revenue) 4274 5,00
55. 6' .915
Increase Appropriations:
Administration $ 30,000
Professional Services <15,000>
Engineering 18,415
Other Engineering 40,000
Inspection 175,000
Construction 4,803,500
Contingency 411.000
$5.462.915
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 15th day of
July, 1992.
Introduced:
Adopted:
Effective:
Approved by Finance: C Q
(6/23/92)
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July 1, 1992
July 15, 1992
July 15, 1992
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Carol L. Freas, City Clerk
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MEMORANDUM
TO: Kenai City Council
FROM: Charles A. Brown, Finance Director
DATE: July 15, 1992 ~ ~ as
RS: court House Appropriation
A substitute to ordinance No. 1506-92 is attached. The amounts in
the ordinance are based upon the following estimates:
of t ote
Administration/Issuance Costs:
Title Insurance $ 7,400
Builder's Risk Insurance 15,000
Bond Counsel 15,000 :~.
Dept. of Revenue fee 55,000 Retained from proceeds
Other 7,600 ''
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Design 275,000
Civil Engineering 40,000
Inspection 175,000
Equip. & Furniture 25,000 Paid by State
Art a9,5oo
Card Key System 50,000
Video Arraignment 200,000 Paid by State
Construction Contract 4,704,000
Contingency 411.000
Total Costa S6 X029 ._500
Financed by:
City State
~enditure ~Kpen~~,~ure
1.5 Million Grant:
Equip. & Furniture $ - $ 25,000
Other 1,475,000 -
Less Previous Approp. < 286,585> -
.Current Approp. $1,188,415
Second State Grant:
Video Arraignment - 200,000
Debt Proceeds:
All Remaining Costs 4,27500 55.000
Total, this Appropriation S5.462,915 8 0 0
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Reco~ailiat#~on:
previoua Appropriation
This Appropriation
Raid by State
Total Ci~sts
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$ 266,585
5,462,915
260.000
56.029.500
Note; Closing of financing mey be as late as July 24, 1992. The
above amounts are subject to change. Debt proceeds shown above are
grossed up by interest earnings while held in State Treasury, but
are net. of certain marketing costs. The Cfty Council can expect a
supplemental ordinance at a later date.
CAS/kh
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