HomeMy WebLinkAboutORDINANCE 0964-1984W4
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Suggested by: Administration
CITY OF KENAI
ORDINANCE NO. 964-84
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, AL.ASKA,
INCREASING ESTIMATED REVENUES AND APPROPRIATIONS IN THE ALIAK,
MC COLLUM, CINDERELLA, FOX, PRINCESS, AND LINWOOD EXTENDED
SPECIAL ASSESSMENT FUND BY $1,456,674.
WHEREAS, the City has received cost estimate for completion of
the Aliak/McCollum project that exceed the current appropriation
by $1,458,674; and
WHEREAS, the State of Alaska has awarded the City of Kenai a
grant in the amount of $650,000 for water and sewer improvements
that may be used toward this project; and,
WHEREAS, the City has available $468,674 in road grant monies
from projects that were completed for less than their budgets;
and
WHEREAS, the City intends to finance a portion of the project
with bond monies, to be sold at a later date, that will
ultimately result in special assessment levies of approximately
$340,000.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, that estimated revenues and appropriations be
increased as follows on a project basis:
Aliak/McCollum, etc. Special Assessment Fund
Increase Estimated Revenues:
1964 Water and Sewer Grant $ 650,000
1982 Municipal Road Grant 261,571
1983 Municipal Road Grant #1 207,103
Total Estimated Revenues $1,118,674
Proceeds from Bond Sale 340,000
Total Sources $1.4�.674
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Increase Appropriations:
Inspection 1, 123,350
Construction 1,227,895
Contingency 107,429
Total Appropriatior,a 51.458.674
PASSFO BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this seventh
day —1—V--0 , 1985.
TOM WAGONE MAYOR.
ATTEST:
et Whelan, City Clerk
First Reading: August 15, 1984
Second Reading: August 7, 1985
Effective Date: August 7, 1985
Approved by Finance:61#4
8/1/85