HomeMy WebLinkAboutORDINANCE 0469-1979
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CITY OF KENAI
ORDINANCE NO. 469-%9
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA
E5TABLISHING A CAPITAL PROJECT FUND ENTITLED "AIRPORT WAY
SEWER LINE," AND INCREASING ESTIMATED REVENUES AND APPRO-
PRIATIONS IN THAT FUND BY $287,000.
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WHEREAS, the State of Alaska, Department of Environmental
Conservation has offered a grant in the amount of $143,500
(50$) for the construction of a sewer line along Airport
Way, and '
WHEREAS, the engineering an this project is being accom-
plished with coastal Energy Zmpact Program funds previously
appropriated in the Water & Sewer Special Revenue Fund, in
i the amount of $13,000, and yi;y
WHEREAS, the properties immediately benefiting from this
project will be the lands operated within the City`s Airport ~
Land System, and
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WHEREAS, it is the Council's desire that the portion of ~,
local matching funds derived from bond monies be eventually
borne by the Airport hand System, and
WHEREAS, proper accounting practices require that all
appropriations of City monies be made by Ordinance. t ~
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ~,
KENAI as follows: ~
Section 1
A Capital Project Fund entitled "Airport
Way Sewer Line" be established.
Section 2
The following increases in estimated revenues and
appropriations be made:
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Airport Land System
- Increase Estimated Revenues:
Appropriation of Fund Balance $50,000 ~
Increase Appropriations:
Transfer to Capital Projects $50,000
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Ord. 469-79, page 2
Cagital Projects-Airport Way Sewer Line
Increase Estimated Revenues:
Transfer from Airport Land
System 550,000
1974 Refunded Bord Issue 93,500
State of Alaska Grant 143 500
287,000
Increase Appropriations:
Administration $ 1,000
Inspection 18,000
Construction 245,000
Contingency 23 000
287,000
NOTES Engineering appropriations in the amount of $13,000
for this project have been separately funded by the Coastal
Energy Impact Proposal. Therefore, the overall project is
estimated. at $300,000.
Section 3
The amount of City bond funds used in this project
(estimated at $93,500) are to be paid by the Airport
Land System from future revenues of the Airport Land
System, as these revenues become available. The
payment is t~ be accomplished by appropriations of
revenues in the Land System to transfer monies to the
Debt Service Funds for retirement of water and sewer
t~onds. These appropriations shall be in amounts as
specified by the Council on an annual or other basis.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA this 7th
day of February, 1979. '
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VINCENT O'REILLY, OR
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Sue C. Peter, C ty Clerk
Approved by Finance:~_
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First Reading: January 17, 1979
Second Readings February 7, 1979
,~ Effective Dates February 7, 1979