HomeMy WebLinkAboutORDINANCE 0373-1977CITY OF KENAI
ORDINANCE NO. 373-77
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, ESTABLISHING
A CAPITAL PROJECT FUND ENTITLED "STREET IMPROV~4ENTS" AND INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE AMOUNT OF $422,000 FOR
EDA PROJECT NO. 07-51-26998.
WHEREAS, the City of Kenai is desirous of upgrading Lilac Street,
Walker Lane, Lupine Drive, Fourth Street and Kaknu Way, and
WHEREAS, the Economic Development Administration has authorized
grant funds in the amount of $190,000 to fund a portion of this
project, and
WHEREA~, the State of Alaska's Local Roads and Trails Program has also
tendered a grant of $142,076 as partial financing, and
WHEREAS, the City of Kenai's matching share for these grants is
$89,924, financed by a portion of the fund balance from the 1974
Refunded Bond Issue, and
W~EREAS, 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 are hereby made~
Street Improvements
Estimated Revenue
Fund Balance 1974 Refunded Bond Issue (Streets) $ 89,924
State of Alaska, Local Roads and Trails $142,076
Economic Development Administration $190,000
Ordinance No. 373-7~-
Page 2
Appropriations
Administration
Engineering
Inspection
Construction
Contingency
$ 3,700
$ 15,000
$ 14,000
$351,000
$ 38,300
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, THiS
day of November , 1977.
~nd
ATTEST:
-~u~. Peter, City Clerk
VINCENT O' REIL~;~MAYOR
FIRST READING: 10/19/77
SECOND READING: H/~!??
EFFECTIVE DATE: l~/~/??