HomeMy WebLinkAboutORDINANCE 1288-1988Suggested by: City Council
City of Kenai
ORDINANCE NO. 1288-88
- AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA INCREASING t
ESTIMATED REVENUES AND APPROPRIATIONS BY $22,813.45, FOR REPAYMENT OF
--- - - PRINCIPAL, INTEREST, AND TAMES PAID TO THE CITY AND BOROUGH ON THE SALE
OF LOT 5, BLOCK 4, KENAI ORIGINAL TOWNSITE.
WHEREAS, in December, 1985, the City sold, for $39,425, by Quit Claim
{ Deed, Lot 5, Block 4, Kenai Original Townsite to Ronald A. Malston and
Fred F. Braun, and
WHEREAS, the purchasers have been unable to develop the lot due to a
claim for the property by heirs of the previous owner, and
WHEREAS, the City desires to allow the current owners to Quit Claim the
lot back to the City in exchange for repayment of principal, interest,
may: and taxes they have paid toward their purchase, and
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' WHEREAS, the owners have paid $14,819.68 in principal payments,
�r q $7,045.90 in interest payments, and $947.87 in property taxes on this
lot.
"t NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA that estimated revenues and appropriations be increased as
follows:
General Fund Land Sales Trust Fund
Increase Estimated Revenues:
Appropriation of Fund Balance $14,819.68
Increase Appropriations:
Land $14,819.68
- General Fund
Increase Estimated Revenues:
Appropriation of Fund Balance $ 7,993.77
► Increase Appropriations:
i. Land Administration - Land $ 7.993.77
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PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 21st day of
September, 1988.
OHN J ILLIAMS, MAYOR
ATTEST:
?atuotsala, City Clerk
Approved by Finance:
(9/2/88)
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First Reading: September 7, 1988
Second Reading: September 21, 1988
Effective Date: September 21, 1988
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