HomeMy WebLinkAboutORDINANCE 1272-1988Suggested by: Administration
City of Kenai
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ORDINMM ND. 1272-88
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AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA INCREASING
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ESTINATED REVENUES AND APPROPRIATIONS B`: $244,000, IN THE GENERAL FUND
FOR PAYMENT OF PRINCIPAL AND INTEREST ON 1984/86 GENERAL OBLIGATION
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BONDS.
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WHEREAS, the 1984/86 General Obligation Bonds are scheduled to be
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repaid from collection of special assessments, and
WHEREAS, approximately $244,000 of assessments due June 1, 1988 became
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delinquent on July 1, 1988, and
WHEREAS, the City has pledged its full faith and credit toward payment
of the bonds, and must meet its obligation with General Fund monies.
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NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA that estimated revenues and appropriations be increased as
follows:
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Genera_ 1 Fund
increase Estimated Revenues:
Appropriation of Fund Balance $244,000
Increase Appropriations:
Non -Departmental - Transfers Out $244,000
1984/86 Debt Service Fund
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Increase Estimated Revenues:
Transfer from General Fund $244,000
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Decrease Estimated Revenues:
Special Assessment Receipts <$244,000>
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of
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August, 1988.
HN J ILLI S, MAYOR
ATTEST:
Ruotsala, City Clerk - -
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First Reading: July 20, 1988
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Second- Reading: - August_ 3,988
Effective Date: August 3, 1988
Approved by Finance:
(7/13/88)