HomeMy WebLinkAboutORDINANCE 0565-1980CITY OF KENAI
ORDINANCE NO. 565-80
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA
INCREASING ESTIMATED REVENUES AND APPROPRIATIONS IN THE CAPITAL
! PROJECT FUND ENTITLED "CITY ADMINISTRATION BUILDING" IN THE
AMOUNT OF $1,092,130.
WHEREAS, in order to help finance a new City Administration
Building, the qualified voters of the City of Kenai have
approved the sale of $400,000 of general obligation bonds,
which are expected to be sold in the near future, and
WHEREAS, the City has available in the General Fund Reserve
for Capital Improvements approximately $682,634, and
WHEREAS; the City has available from the 1974 Refunded Bond
Issue approximately $335,000 dedicated to a variety of projects,
including a Health Center Facility, and
WHEREAS, the City Administration Building will include a Health
Center Facility, for which the proportional cost attributable
to such facility is expected to exceed $120,000.
WHEREAS, proper accounting practices require that all appropriations
of City monies be made by ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA THAT the following increases in estimated revenues
and appropriations be made:
General Fund
Increase Estimated Revenues:
Contribution from Reserve for
Capital Improvements $572,130
Increase Appropriations:
Non -Departmental -Transfer to
Capital Projects $572,130
Ordinance No. 565-80
Page 2
Citx Administration Building Capital
Projects Fund
Increase Estimated Revenues:
Transfer from General Fund $572,130
1974 Refunded Bonds (Civic/Health Cent-=) 120,000
1980 G.O. Bonds (City Admin. Bldg.) 400,000
Increase Appropriations:
Inspection $ 4,000
Construction 11088,130
$1,092,130
PASSED BY THE COUNCIL OF THE CITY KENAI, ALASKA this 21st
iday of May, 1980.
I CENT 0 REILLY, MAY
' ATTEST:
J et Whelan, City Clerk
i
Approved by Finance:�G,� ;
First Readings May 7, 1980
Second Readings May 21, 1980
Effective Date: May 21, 1980
E
I
a
P
I i
V�