HomeMy WebLinkAboutORDINANCE 0523-1979~~
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CITY OF KENAI
ORDINANCE NO. 523-79
AN ORDINANCE OF THE COUNCIL OF THE CIZ~Y OF KENAI, ALASKA
INCREASING ESTIM.'~TED REVENUES AND APPROPRIATIONS IN THE
1979-80 GENERAL FUND AND AIRPORT LAND SYSTEM FUND BUDGETS
ZN THE AMOUNT OF $37,500 TO PROVIDE FOR THE PURCHASE OF
THE CITY'S SHOP BUILDING BY THE GENERAL FUND.
WHEREAS, the City's shop building was funded in part
with monies provided by the Federal Aviation Administration
(FAA) who require that the building be used for airport
purposes, and
WHEREAS, the City is presently asing this building primarily
~ for general government purposes, and this has been deemed
by FAA to be in violation of our agreement with FAA regarding
use of such building, and
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WHEREAS, the City has the option of purchasing the building
from the Airport Land System for 62 1/2$ (the original FAA
share of the project) of the existing fair market value of
said building, and
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WHEREAS, a current (October 10, 1978) appraisal of the original
building shows the existing value to be $60,000, and
WHEREAS, the FAA has accepted this appraised value, and
WHEREAS, groper accounting practices require that all ap-
propriations of City monies be made by ordinance. ~.-,.,
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NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL Or^ THE CITY
OF KENAI, ALASKA that:
Section 1: The Council of the City of Kenai, Alaska
hereby accepts the current appraised value of the original
City Shop Building of $60,000.
Section 2s Estimated revenues and appropriations are
herebyy n~creased as follows:
General Fund
Increase Estimated Re~vtnuess
Contribution from Reserve for
capitairrrtp?-ovements $37,500
Increase Appropriations:
Transfer to Airport Land System 537,500
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Ordinance No. 523-79, page 2
Airport Land System
Increase Estimated Revenues
Transfer from General Fund $37,500
Increase Appropriations:
Transfer for Reserve for
Airport Improvements $37,00
PASSED BY THE COUNCIL OF THE CITY O KENaI, ALASKA this
19th day of September, 1979.
• VINCENT 0 REZLLY, MAYO
ATTEST
u C. Peter, C ty C erk
App: roved by Finance s !<i~
First Readings September 5, 1979
Second Readings September 19, 1979
Effective Dates September 19, 1979
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