HomeMy WebLinkAbout2021-02-03 Council Packet
Kenai City Council - Regular Meeting Page 1 of 4
February 03, 2021
Kenai City Council - Regular Meeting
February 03, 2021 ꟷ 6:00 PM
Kenai City Council Chambers
210 Fidalgo Avenue, Kenai, Alaska
www.kenai.city
Agenda
A. CALL TO ORDER
1. Pledge of Allegiance
2. Roll Call
3. Agenda Approval
4. Consent Agenda (Public comment limited to three (3) minutes) per speaker;
thirty (30) minutes aggregated)
*All items listed with an asterisk (*) are considered to be routine and non-controversial by the
council and will be approved by one motion. There will be no separate discussion of these items
unless a council member so requests, in which case the item will be removed from the consent
agenda and considered in its normal sequence on the agenda as part of the General Orders.
B. SCHEDULED PUBLIC COMMENTS
(Public comment limited to ten (10) minutes per speaker)
1. Brandy Niclai and Bill Lierman, Alaska Permanent Capital Management -
2020 Financial Performance, Financial Projections, and Recommended 2021 Asset
Allocation for the City's Permanent Fund Investments.
C. UNSCHEDULED PUBLIC COMMENTS
(Public comment limited to three (3) minutes per speaker;
thirty (30) minutes aggregated)
D. PUBLIC HEARINGS
1. Ordinance No. 3179-2021 - Amending Positions in the Classified Service in the Public
Works and Senior Center Departments as Established by the Annual Budget.
2. Ordinance No. 3180-2021 - Amending Kenai Municipal Code 3.05.070-Citation Procedure,
and Kenai Municipal Code 13.10.015 – Minor Offense Fine Schedule to Incorporate Various
Animal Control Offenses into the Minor Offense Fine Schedule and Make Other
Housekeeping Changes.
3. Ordinance No. 3181-2021 - Waiving Kenai Municipal Code 21.10.130 - Lease Execution
and Approving a Lease Execution Extension to July 27, 2021 to Kenai Aviation Operations,
LLC for Lot 9A, Block 5, General Aviation Apron Subdivision No. 5.
4. Resolution No. 2021-05 - Designating the Investment and Allocation Plan for the City's
Permanent Funds and Establishing Appropriate Benchmarks to Measure Performance For
Calendar Year 2021.
Page 1
Kenai City Council - Regular Meeting Page 2 of 4
February 03, 2021
5. Resolution No. 2021-06 - Authorizing the City Manager to Enter Into an Amended
Bar/Lounge Concession Agreement at the Kenai Municipal Airport with the Upper Deck
Lounge.
6. Resolution No. 2021-07 - Adopting the City of Kenai's Capital Improvement Plan Priority
List for State Funding Requests for the Fiscal Year 2022.
E. MINUTES
G. NEW BUSINESS
1. *Action/Approval - Bills to be Ratified.
2. *Ordinance No. 3182-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Special Revenue Fund for the 2021 Airport Sand Screening Project.
3. *Ordinance No. 3183-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund – Police Department, and Accepting a Grant From the US Department of
Transportation Passed through the State of Alaska Department of Transportation and Public
Facilities for Traffic Enforcement Overtime Expenditures.
4. *Ordinance No. 3184-2021 - Amending Kenai Municipal Code 23.30.050 – Business Hours
and Hours of Work to Allow for Alternate Work Schedules in the Police Department.
5. *Ordinance No. 3185-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Special Revenue and Airport Improvements Capital Project Funds and Amending a
Professional Services Agreement for the 2021 Airfield Drainage Rehabilitation Project at
the Kenai Municipal Airport.
6. *Ordinance No. 3186-2021 - Increasing Estimated Revenues and Appropriations in the
General Land Sale Permanent Fund to Transfer Earnings in Excess of Budgeted Amounts
to the City’s General Fund.
7. *Ordinance No. 3187-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Land Sale Permanent Fund to Transfer Earnings in Excess of Budgeted Amounts
to the City’s Airport Fund.
8. *Ordinance No. 3188-2021 - Increasing Estimated Revenues and Appropriations in the
Water and Sewer Special Revenue and Wastewater Treatment Plant Improvements Capital
Project Funds for a Replacement Sludge Press.
9. *Ordinance No. 3189-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund and the Public Safety Capital Project Fund to Provide Supplemental
Funding to the Fire Department’s Station Alerting Project and Authorizing a Purchase
Order in Excess of $15,000 to Kachemak Electric for Performance of the Work.
10. *Ordinance No. 3190-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund and Authorizing a Grant Disbursement Program for Small Businesses that
Did Not Previously Apply for Full Assistance from the City in 2020.
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Kenai City Council - Regular Meeting Page 3 of 4
February 03, 2021
11. *Ordinance No. 3191-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund to Provide Assistance to Kenai Residents Impacted by the COVID-19 Public
Health Emergency with the Purchase of Groceries and Necessary Household Goods in
Kenai and Award a Professional Service Agreement to the Kenai Chamber of Commerce
and Visitors Center for Administration of the Program.
12. Discussion - COVID-19 Response.
F. UNFINISHED BUSINESS
H. COMMISSION / COMMITTEE REPORTS
1. Council on Aging
2. Airport Commission
3. Harbor Commission
4. Parks & Recreation Commission
5. Planning & Zoning Commission
6. Beautification Committee
7. Mini-Grant Steering Committee
I. REPORT OF THE MAYOR
J. ADMINISTRATION REPORTS
1. City Manager
2. City Attorney
3. City Clerk
K. ADDITIONAL PUBLIC COMMENT
1. Citizens Comments (Public comment limited to five (5) minutes per speaker)
2. Council Comments
L. EXECUTIVE SESSION
M. PENDING ITEMS
N. ADJOURNMENT
O. INFORMATION ITEMS
1. Purchase Orders Between $2,500 and $15,000.
2. Alaska LNG ROW Leases
Page 3
Kenai City Council - Regular Meeting Page 4 of 4
February 03, 2021
The agenda and supporting documents are posted on the City’s website at www.kenai.city. Copies of
resolutions and ordinances are available at the City Clerk’s Office or outside the Council Chamber prior
to the meeting. For additional information, please contact the City Clerk’s Office at 907-283-8231.
Join Zoom Meeting
https://us02web.zoom.us/j/82761963751
Meeting ID: 827 6196 3751 Passcode: 225113
OR
Dial In: (253) 215-8782 or (301) 715-8592
Meeting ID: 827 6196 3751 Passcode: 225113
Page 4
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S
CITY OF KENAI PERMANENT FUNDS
ANNUAL REVIEW
FOR PERIOD ENDING DECEMBER 31, 2020
Agenda
01 Market Review
02 Portfolio Review
03 Strategic Review
04 Appendix
Page 5
Account Summary as of December 31, 2020
City of Kenai Permanent Funds
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S1
Account Inception September 2008
Total Deposits $21,934,733
Cumulative Withdrawals
Includes Annual Distributions and Custodian Fees $13,249,391
Current Market Value
December 31, 2020 $33,562,115
Annualized Account Return
September 30, 2008 –December 31, 2020 +8.44% Gross, +8.20% Net
Current Allocation 55% Equity / 45% Bonds
Fee Schedule 0.17%Annual Effective Rate*
*Current fee schedule is 0.25% on the first $10M, 0.15% on the next $10M, and 0.10% thereafter.
Page 6
Market Review
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S2
Market Review Portfolio Review Strategic Review Appendix
Page 7
-40%
-30%
-20%
-10%
0%
10%
20%M S C I A C W I T o t a l R e t u r n
Global Market Events
Calendar Year 2020
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S3
MARKET
REVIEW
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
The spread of Covid-19 causes
a drastic downturn in global
equity markets.
U.S. Federal Reserve
drastically increases asset
purchases.
U.S. GDP grows by 33.4%
(SAAR) compared to -31.4%
(SAAR) in Q2.
Positive vaccine news and
hopes for a return to normal lead
to a historic rally in global equity
markets.
The U.S. Federal Funds Rate
goes to the zero-lower bound in
March.
Widespread lockdowns
continue to be implemented,
bringing global economic
growth to a halt.
Many lockdowns are lifted
due to lulls in the spread of the
virus.
U.S. Federal Reserve will likely
delay tapering of escalated asset
purchase program until policy
goals are met.
The CARES act is passed,
which is the single largest
stimulus package in U.S. history.
U.S. legislative branch rolls
out additional targeted fiscal
stimulus.
The first ever joint stimulus
plan announced by the
European union
Vaccine distribution begins in
earnest near the end of Q4.
-21.37%+19.22%
1
+8.13%+14.68%
2
3
1
2
3
1
2
3
1
2
3
MSCI ACWI Total Return for 2020:
16.25%
Page 8
Key Developments
Calendar Year 2020
4
MARKET
REVIEW
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S
Data: Bloomberg. Asset class performance is represented by the stated index return. Max loss represents the period 2/19/2020 –3/23/2020. Recovery represents the period
3/23/2020 –12/31/2020
0.7%
4.7%7.5%5.1%4.8%
18.4%
13.7%11.3%
7.8%
18.3%
-3.1%
-7.5%
2.2%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%T o t a l R e t u r n
Cash
Municipal
Bonds
U.S. Fixed
Income TIPS
Intl. Fixed
Income
U.S. Large
Cap
U.S. Mid
Cap
U.S. Small
Cap
Dev. Ex-
U.S.
Emerging
Markets Comm.
Real
Estate Infra.
Calendar Year 0.7 4.7 7.5 5.1 4.8 18.4 13.7 11.3 7.8 18.3 -3.1 -7.5 2.2
Recovery 0.1 12.3 6.4 6.3 4.8 70.2 91.7 90.1 61.4 73.5 26.0 54.7 45.8
Max Loss 0.4 -8.2 -1.0 -1.6 -2.0 -33.5 -41.5 -41.1 -32.5 -30.7 -18.5 -43.8 -32.3
FIXED INCOME EQUITIES REAL ASSETS
RISK CONTROL RISK ASSETS
Page 9
2021 Outlook
A Year of Revival, Restoration and Accommodation
5
MARKET
REVIEW
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S
EARLY STAGES OF A NEW ECONOMIC CYCLE STOCKS CONTINUE TO OFFER SUPERIOR
RELATIVE RETURN
LONG TERM IMPLICATIONS OF COLLAPSING
INTEREST RATES
•Widespread distribution of highly
effective vaccines should lead to a
strong pickup in growth, particularly in
the second half of the year.
•Massive policy support and additional
household savings provide a conducive
backdrop to unleash pent-up demand.
•The near-term path of the virus and the
success of the vaccination programs
remain the most important factors to
the outlook.
•Equity earnings yields remain above
sovereign bond yields, supporting
our preference for stocks relative to
bonds.
•The economic backdrop and
valuations favor U.S. mid and small
companies as well as international
stocks.
•Infrastructure is also attractive,
trading at a discount to global
stocks.
•APCM updated our long-term strategic
perspective as the response to the
pandemic created meaningful changes
to return expectations.
•Publicly traded high yield bonds and
alternative beta improve return
expectations and increase
diversification benefits.
•If appropriate, qualified clients meeting
minimum investment requirements can
now access the return premia in the
private markets.
0%
2%
4%
6%
8%
Large Mid Small DM EM 10 Year
Treasury
EARNINGS YIELD / YIELD
-6%
-2%
2%
6%
US CHINA DM
PROJECTED GDP GROWTH
2021 10 Year Average
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
1M 2M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 30YYield
Tenor
U.S. TREASURY YIELD
12/31/2019 12/31/2020
Page 10
Portfolio Review
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S6
Market Review Portfolio Review Strategic Review Appendix
Page 11
15.6%
13.1%
-0.1%
12.0%13.5%
6.0%
-0.1%
7.5%
12.0%
-4.5%
17.1%
10.8%
-$5
$0
$5
$10
$15
$20
$25
$30
$35
2008 2010 2012 2014 2016 2018 2020M i l l i o n s
Historical Market Value as of December 31, 2020
City of Kenai Permanent Funds
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S7
Chart shows month-end portfolio market value from September 2008 to December 2020 and annual returns
from December 2008 to December 2020. Performance is gross of fees.
Market Value as of December 31, 2020: $33,562,115
The annual return of the City of Kenai Permanent Funds has averaged
8.44% since inception.
Page 12
Asset Allocation as of December 31, 2020
City of Kenai Permanent Funds
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S8
PORTFOLIO
REVIEW
Asset Class % Assets Strategic
Benchmark Range Market Value
Fixed Income 42.2%45%$14,167,015
U.S. Fixed Income 36.0%40 35-65%$12,068,708
Cash 6.3%5 0-10 $2,098,307
Equities 57.8%55%$19,395,100
Large Cap 20.9%20 15-25%$7,015,196
Mid Cap 10.7%10 5-15 $3,587,646
Small Cap 5.9%5 0-10 $1,969,325
International 10.2%10 5-15 $3,408,193
Emerging Markets 5.3%5 0-10 $1,772,297
Real Estate 1.9%2 0-5 $647,883
Infrastructure 3.0%3 0-6 $994,560
Total $33,562,115
36.0%
6.3%
20.9%
10.7%
5.9%
10.2%
5.3%1.9%3.0%
U.S. Fixed Income Cash
Large Cap Mid Cap
Small Cap International
Emerging Markets Real Estate
Infrastructure
Page 13
8.44
7.20
8.33
7.40
10.84
8.61
7.41
8.63
7.89
11.23
0%
4%
8%
12%
Since Inception 10 Year 5 Year 3 Year 1 YearT o t a l R e t u r n
Kenai PF Strategic Benchmark
Account Performance as of December 31, 2020
City of Kenai Permanent Funds
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S9
HISTORICAL
REVIEW
Performance is gross of fees and annualized for periods greater than one year. Inception performance
begins on September 30, 2008. Strategic benchmark is a blended return of the account’s target allocation.
Page 14
Strategic Review
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S10
Market Review Portfolio Review Strategic Review Appendix
Page 15
Strategic Planning and Portfolio Optimization
Accept, Prepare, Adapt
▪After an allocation is selected, assessing
the continued appropriateness of an
asset allocation is an integral part of the
PAIR process.
▪APCM designed this process to continuously
confirm that each client’s customized strategy
achieves the highest return possible given a
specified level of risk.
▪This review is formally conducted each
year and is beneficial as it maintains a
customized investment strategy that:
▪Prudently evaluates new investment opportunities, and
▪Confirms the ability of the strategic allocation to meet the stated long-term objectives.
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S11
STRATEGIC
REVIEW
APCM collaborates with clients to
develop investment solutions
based on their unique
requirements and liquidity needs.
Plan Analyze
Expert Guidance Optimized Portfolio
Consistent Reporting
ImplementReview
Customized Solution
.
..
.
Portfolios are designed, using an
analytical framework,to meet
clients’ return needs, risk
tolerance, and time horizon.
APCM invests and monitors the
customized portfolio,positioning
it dynamically based on the
results of the Planning stage and
current conditions.
Portfolio Review
Portfolio performance & current market
Strategic Review
Long term return expectations, goals,
objectives & constraints
Page 16
Long Term Impacts of Pandemic Response
Accept, Prepare, Adapt
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S12
STRATEGIC
REVIEW
Risk and return data from Windham Portfolio Advisor.
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
1M 2M 3M 6M 1Y 2Y 3Y 5Y 7Y 10Y 15Y 20Y 25Y 30Y
US Treasury Yields by Tenure
December 2019 June 2020
Bond Yields have Fallen Dramatically
Treasury yields dropped near record lows in response to COVID 19 pandemic.
Bond Return Expectations
Lower starting yields reduces long term total return expectations.
3.32%
2.61%2.50%2.50%
1.21%0.87%1.08%
0.72%
0.00%
0.75%
1.50%
2.25%
3.00%
3.75%
U.S. Agg.TIPS Global Agg.Cash
Expected Return by Asset Class
2019 Expected Return 2020 Expected Return
4.27%4.97%5.66%6.23%6.90%
2.97%
4.05%
5.08%5.99%
7.06%
0.00%
2.00%
4.00%
6.00%
8.00%
25% Equity 40% Equity 55% Equity 70% Equity 85% Equity
Expected Return by Model Portfolio
2019 Expected Return 2020 Expected Return
0.00%
5.00%
10.00%
0.00%
1.00%
2.00%
3.00%
2020 2021 2022 Long Term
Forward Economic Expectations
Unemployement Rate Fed Funds Rate Inflation Rate
Policy is Expected to Remain Accommodative
Monetary and Fiscal policy to remain easy into the foreseeable future.
Portfolio Return Expectations
Impact of lower bond returns varies across the risk spectrum.
Page 17
Asset Allocation Considerations
Accept, Prepare, Adapt
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S13
STRATEGIC
REVIEW
▪The goals of the permanent fund are to support a 4.0%average annual draw and provide
inflation proofing for the fund's corpus.
▪Given the large shift in yields due to policymaker's response to the COVID-19 pandemic and
the expectations for a persistent low-rate environment,significant changes to APCM’s
forward looking return and risk projections were made.
▪With these changes,the long term expected return for the permanent fund has fallen to
5.3%from 5.9%in 2019,below the level necessary to support its goals.
▪Following discussion,APCM recommends City of Kenai adopt a new asset allocation,
increasing its equity allocation and reducing its fixed income allocation in order to meet the
required return of 6.0%.
▪Other options discussed included the additions of high yield and alternative beta strategies
to the portfolio.These strategies would generate the same expected return as the above
recommendation with a slightly lower expected risk.These options will continue to be
discussed and may be recommended in the future.
Page 18
Asset Class 55% Equity / Current 65 Equity / Recommended New Model W/ HY New Model W/ HY & AB
20.0%22.0%22.0%22.0%
10.0%12.0%12.0%10.0%
5.0%6.0%5.0%5.0%
10.0%12.0%12.0%8.0%
5.0%8.0%5.0%5.0%
2.0%2.0%2.0%2.0%
Infrastructure 3.0%3.0%3.0%5.0%
40.0%30.0%30.0%26.0%
U.S. Corporate High Yield 0.0%0.0%6.0%4.0%
Alternative Beta 0.0%0.0%0.0%10.0%
5.0%5.0%3.0%3.0%
6.5%6.5%
-14.9% to 28.0%-13.3% to 26.3%
6.0%6.0%
4.0%4.0%
-2.0%-2.0%
3.3%4.0%
9.0%Expected Annual Risk
Large Cap Equity
Mid Cap Equity
Small Cap Equity
International Equity
Emerging Markets Equity
Cash
REITs
U.S. Fixed Income
Net Earnings
9.9%10.4%
-2.0%
Expected Annual Return
Expected Range
Long Term Expected Return
Less Inflation
-14.4% to 27.5%
6.5%5.7%
-12.3% to 23.7%
6.0%5.3%
10.7%
-2.0%
City of Kenai Permanent Fund Portfolio Options
Accept, Prepare, Adapt
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S14
STRATEGIC
REVIEW
2020 risk and return data from Windham Portfolio Advisor.
Page 19
Appendix
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S15
Market Review Portfolio Review Strategic Review Appendix
Page 20
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
FNMA & FHLMC
11,329 FHLMC POOL G14203 104.56 11,846 106.37 12,051 0.04 453 38 -0.24
4.000% Due 04-01-26
103,841 FG POOL C91270 105.67 109,731 109.32 113,519 0.34 4,673 389 0.61
4.500% Due 10-01-29
96,162 FG POOL J30401 101.30 97,409 107.54 103,412 0.31 2,885 240 0.65
3.000% Due 01-01-30
105,964 FG POOL G16255 99.70 105,649 106.58 112,942 0.34 2,649 221 0.78
2.500% Due 07-01-32
105,271 FNCL POOL 995373 106.72 112,344 112.24 118,155 0.35 4,737 395 1.80
4.500% Due 02-01-39
115,000 FR RB5095 MTGE 103.84 119,411 103.99 119,587 0.36 2,300 192 0.47
2.000% Due 01-01-41
275,473 FN POOL AJ1405 104.48 287,827 110.07 303,225 0.90 11,019 918 1.60
4.000% Due 09-01-41
143,706 FN POOL AT2324 100.20 143,998 108.81 156,373 0.47 4,311 72 1.44
3.000% Due 01-01-43
205,675 FG POOL V80057 100.23 206,157 109.40 225,000 0.67 6,170 514 1.43
3.000% Due 05-01-43
135,805 FN POOL AL3180 100.20 136,081 108.81 147,777 0.44 4,074 340 1.45
3.000% Due 05-01-43
181,772 FG POOL G08722 102.09 185,564 107.03 194,551 0.58 6,362 530 1.79
3.500% Due 09-01-46
66,646 FN AS8483 102.95 68,615 105.52 70,329 0.21 1,999 167 1.29
3.000% Due 12-01-46
87,121 FN POOL BD2453 99.89 87,026 108.37 94,414 0.28 2,614 218 1.29
3.000% Due 01-01-47
346,014 FN POOL AS8810 102.04 353,069 106.52 368,577 1.10 12,110 1,009 1.87
3.500% Due 02-01-47
112,937 FN POOL MA2930 103.56 116,961 107.67 121,605 0.36 4,517 376 1.91
4.000% Due 03-01-47
92,637 FG G61893 101.14 93,694 105.12 97,381 0.29 2,779 232 1.26
3.000% Due 07-01-47
55,792 FN MA3276 105.75 59,000 106.11 59,202 0.18 1,953 163 1.56
3.500% Due 02-01-48
102,731 FN MA3305 103.02 105,829 105.96 108,856 0.32 3,596 300 1.34
3.500% Due 03-01-48
35,503 FN POOL MA3638 103.09 36,601 106.80 37,916 0.11 1,420 118 2.03
4.000% Due 04-01-49
77,021 FR RA1343 104.69 80,632 106.60 82,109 0.24 2,311 193 1.30
3.000% Due 09-01-49
1
Page 21
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
60,085 FN MA3834 101.90 61,225 104.86 63,007 0.19 1,803 150 1.26
3.000% Due 11-01-49
63,517 FN MA3871 101.91 64,727 104.71 66,506 0.20 1,905 159 1.26
3.000% Due 12-01-49
68,556 FR QA5517 102.31 70,141 104.80 71,849 0.21 2,057 171 1.30
3.000% Due 12-01-49
69,783 FN MA3960 102.31 71,396 104.83 73,155 0.22 2,093 174 1.44
3.000% Due 03-01-50
98,200 FANNIE MAE POOL 104.98 103,095 105.51 103,608 0.31 2,455 205 0.92
2.500% Due 05-01-50
170,932 FANNIE MAE POOL 105.11 179,666 105.93 181,062 0.54 4,273 356 0.92
2.500% Due 08-01-50
114,683 FN CA7738 MTGE 105.64 121,152 105.65 121,165 0.36 2,867 239 0.92
2.500% Due 11-01-50
115,000 FN MA4237 MTGE 103.73 119,295 103.89 119,471 0.36 2,300 192 1.12
2.000% Due 01-01-51
Accrued Interest 8,270 0.02
3,308,140 3,455,072 10.29 8,270
CORPORATE BONDS
100,000 ABBVIE INC 101.31 101,307 104.61 104,608 0.31 2,900 443 0.39
2.900% Due 11-06-22
100,000 GOLDMAN SACHS GROUP INC 101.98 101,985 106.71 106,713 0.32 3,625 1,601 0.35
3.625% Due 01-22-23
75,000 STARBUCKS CORP 98.54 73,902 105.63 79,226 0.24 2,325 775 0.48
3.100% Due 03-01-23
100,000 AVALONBAY COMMUNITIES 100.82 100,816 104.37 104,373 0.31 2,850 839 0.84
2.850% Due 03-15-23
100,000 AFLAC INC 104.97 104,975 107.82 107,820 0.32 3,625 161 0.42
3.625% Due 06-15-23
200,000 BANK OF NEW YORK MELLON 97.83 195,666 104.75 209,508 0.62 4,400 1,650 0.38
2.200% Due 08-16-23
200,000 JPMORGAN CHASE & CO 105.18 210,362 110.04 220,088 0.66 7,750 3,229 0.58
3.875% Due 02-01-24
100,000 MORGAN STANLEY IND FINANCIAL SRV 103.71 103,711 110.78 110,782 0.33 3,875 667 0.60
3.875% Due 04-29-24
100,000 WELLS FARGO & COMPANY 99.88 99,882 109.52 109,521 0.33 3,300 1,027 0.68
3.300% Due 09-09-24
150,000 KIMCO REALTY CORP 94.92 142,377 109.31 163,960 0.49 4,950 2,062 0.97
3.300% Due 02-01-25
2
Page 22
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
150,000 REYNOLDS AMERICAN INC 108.47 162,700 113.90 170,848 0.51 6,675 352 1.23
4.450% Due 06-12-25
150,000 CITIGROUP INC 101.65 152,470 113.64 170,454 0.51 5,550 2,605 0.92
3.700% Due 01-12-26
100,000 KROGER CO 99.82 99,820 109.23 109,230 0.33 2,650 559 1.00
2.650% Due 10-15-26
100,000 GENERAL DYNAMICS CORP 106.12 106,120 115.04 115,040 0.34 3,500 875 1.01
3.500% Due 04-01-27
100,000 ENBRIDGE INC 101.13 101,135 113.97 113,972 0.34 3,700 1,706 1.45
3.700% Due 07-15-27
100,000 ANHEUSER-BUSCH INBEV WORLDWIDE 114.31 114,309 117.90 117,896 0.35 4,000 867 1.41
4.000% Due 04-13-28
100,000 INTEL CORP 105.62 105,622 108.48 108,476 0.32 2,450 313 1.43
2.450% Due 11-15-29
100,000 AT&T INC 119.32 119,320 146.80 146,804 0.44 6,375 2,125 3.20
6.375% Due 03-01-41
100,000 HOME DEPOT INC 115.63 115,627 142.28 142,282 0.42 4,875 1,842 2.46
4.875% Due 02-15-44
100,000 CARDINAL HEALTH 111.47 111,470 123.10 123,103 0.37 4,900 1,443 3.50
4.900% Due 09-15-45
100,000 BANK OF AMERICA CORP 106.31 106,308 132.36 132,360 0.39 4,443 1,987 2.74
4.443% Due 01-20-48
100,000 Sysco Corporation 120.54 120,536 122.06 122,060 0.36 4,450 1,310 3.23
4.450% Due 03-15-48
75,000 NUTRIEN LTD 99.74 74,803 121.97 91,474 0.27 2,962 395 2.84
3.950% Due 05-13-50
Accrued Interest 28,835 0.09
2,725,224 3,009,435 8.97 28,835
DOMESTIC LARGE CAP EQUITY FUNDS/ETF
3,435 FLEXSHARES QUAL DIV ETF 40.53 139,217 49.44 169,826 0.51 NA
18,309 SPDR S&P 500 ETF 195.51 3,579,531 373.88 6,845,369 20.40 NA
3,718,747 7,015,195 20.90
DOMESTIC MID CAP EQUITY FUNDS/ETF
15,610 ISHARES CORE S&P MIDCAP 400 ETF 94.45 1,474,345 229.83 3,587,646 10.69 NA
DOMESTIC SMALL CAP EQUITY FUNDS/ETF
21,429 ISHARES S&P SMALLCAP 600 INDEX ETF 41.51 889,547 91.90 1,969,325 5.87 NA
3
Page 23
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
INTERNATIONAL EQUITY FUNDS/ETF
19,811 ISHARES ETF CORE MSCI EAFE 55.79 1,105,233 69.09 1,368,742 4.08 NA
27,953 ISHARES MSCI EAFE INDEX FUND 63.35 1,770,855 72.96 2,039,451 6.08 NA
2,876,088 3,408,193 10.15
EMERGING MARKET FUNDS/ETF
28,567 ISHARES ETF CORE MSCI EMERGING MKTS 43.29 1,236,708 62.04 1,772,297 5.28 NA
REAL ESTATE & INFRASTRUCTURE
18,500 FLEXSHAR STX GLOBAL BROAD INF ETF 49.28 911,756 53.76 994,560 2.96 NA
6,170 JPMORGAN BETABUILDERS MSCI US REIT ETF 76.81 473,927 79.15 488,355 1.46 NA
4,335 PACER INDUSTRIAL REAL ESTATE ETF 35.08 152,072 36.80 159,528 0.48 NA
1,537,755 1,642,443 4.89
U.S. TREASURY
40,000 US TREASURY NOTES 101.31 40,524 101.87 40,747 0.12 800 2 0.13
2.000% Due 12-31-21
150,000 US TREASURY NOTES 100.09 150,129 101.89 152,836 0.46 2,812 1,177 0.13
1.875% Due 01-31-22
285,000 US TREASURY NOTES 99.70 284,158 102.99 293,527 0.87 6,056 17 0.13
2.125% Due 06-30-22
50,000 US TREASURY NOTES 100.02 50,010 100.02 50,008 0.15 62 26 0.11
0.125% Due 07-31-22
300,000 US TREASURY NOTE 99.91 299,742 100.02 300,048 0.89 375 64 0.12
0.125% Due 10-31-22
280,000 US TREASURY NOTES 99.72 279,213 105.36 295,016 0.88 7,350 2,497 0.14
2.625% Due 02-28-23
20,000 US TREASURY NOTES 100.00 19,999 99.95 19,991 0.06 25 12 0.14
0.125% Due 07-15-23
190,000 US TREASURY NOTE 99.75 189,532 99.93 189,867 0.57 237 51 0.15
0.125% Due 10-15-23
150,000 US TREASURY NOTES 99.41 149,109 104.18 156,264 0.47 2,437 417 0.15
1.625% Due 10-31-23
425,000 US TREASURY NOTES 101.53 431,507 107.78 458,052 1.36 10,094 3,813 0.22
2.375% Due 08-15-24
205,000 US TREASURY NOTES 104.70 214,633 104.50 214,225 0.64 2,819 1,180 0.27
1.375% Due 01-31-25
75,000 US TREASURY NOTES 99.71 74,780 110.89 83,165 0.25 2,062 6 0.31
2.750% Due 06-30-25
4
Page 24
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
20,000 US TREASURY NOTES 100.16 20,032 99.71 19,941 0.06 50 21 0.31
0.250% Due 07-31-25
210,000 US TREASURY NOTES 99.75 209,482 110.86 232,804 0.69 5,250 1,784 0.37
2.500% Due 02-28-26
75,000 US TREASURY NOTES 95.63 71,726 106.48 79,858 0.24 1,219 158 0.41
1.625% Due 05-15-26
250,000 US TREASURY NOTES 95.26 238,145 108.84 272,100 0.81 5,000 649 0.47
2.000% Due 11-15-26
15,000 US TREASURY NOTES 99.90 14,985 98.69 14,803 0.04 56 24 0.58
0.375% Due 07-31-27
300,000 US TREASURY NOTES 102.38 307,141 118.40 355,194 1.06 9,375 1,217 0.72
3.125% Due 11-15-28
240,000 US TREASURY NOTES 101.74 244,179 114.80 275,513 0.82 6,300 2,380 0.74
2.625% Due 02-15-29
225,000 US TREASURY NOTES 108.51 244,143 105.79 238,034 0.71 3,375 1,275 0.84
1.500% Due 02-15-30
10,000 US TREASURY NOTES 100.79 10,079 97.77 9,777 0.03 62 8 0.87
0.625% Due 05-15-30
330,000 US TREASURY NOTE 99.73 329,098 97.50 321,750 0.96 2,062 779 0.90
0.625% Due 08-15-30
325,000 US TREASURY NOTES 127.11 413,113 143.32 465,790 1.39 12,594 4,757 1.35
3.875% Due 08-15-40
55,000 US TREASURY NOTES 117.36 64,546 131.16 72,138 0.21 1,719 649 1.47
3.125% Due 02-15-43
500,000 US TREASURY NOTES 102.98 514,907 129.11 645,545 1.92 14,375 1,866 1.60
2.875% Due 05-15-49
15,000 US TREASURY NOTES 100.74 15,111 90.72 13,608 0.04 187 24 1.65
1.250% Due 05-15-50
50,000 US TREASURY NOTES 98.39 49,195 99.62 49,812 0.15 812 105 1.64
1.625% Due 11-15-50
Accrued Interest 24,958 0.07
4,929,218 5,345,372 15.93 24,958
AGENCIES
125,000 FEDERAL HOME LOAN BANK 99.90 124,875 99.66 124,571 0.37 750 258 0.67
0.600% Due 08-27-25
125,000 FHLB 104.27 130,335 106.71 133,385 0.40 2,031 615 0.52
1.625% Due 03-12-27
Accrued Interest 873 0.00
255,210 258,830 0.77 873
5
Page 25
Portfolio Appraisal
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
Yield
Average Total Market Pct. Annual Accrued to
Quantity Security Cost Average Cost Price Value Assets Income Interest Maturity
CASH AND EQUIVALENTS
DIVIDEND ACCRUAL 28,928 28,928 0.09
WF ADV GOVT MM FD-INSTL #1751 2,069,379 2,069,379 6.17
2,098,307 2,098,307 6.25
TOTAL PORTFOLIO 25,049,290 33,562,115 100 299,167 62,936
6
Page 26
PERFORMANCE HISTORY
GROSS OF FEES
CITY OF KENAI PERMANENT FUNDS
711522558
Percent Return
Per Period
Time Period Total
Account
Blend Fixed
Income
BB
BARC
AGG
BENCH
Domestic
Large
Cap
Equity
S&P
500
LARGE
CAPS
BENCH
Domestic
Mid Cap
Equity
S&P
400
MIDCAP
BENCH
Domestic
Small
Cap
Equity
S & P
600
SMALL
CAPS
BENCH
Emerging
Market
Equity
MSCI
EAFE
Index
Emerging
Market
Equity
MSCI
EMERGING
MARKET
BENCH
Real
Estate
S&P US
REIT
BENCH
STOXX
INFRA
12-31-19 to 01-31-20 -0.30 -0.08 1.74 1.92 -0.41 -0.04 -2.60 -2.61 -4.02 -3.97 N/A -2.09 -5.90 -4.66 1.00 1.17 1.14
01-31-20 to 02-29-20 -3.49 -3.91 1.85 1.80 -8.00 -8.23 -9.48 -9.49 -9.56 -9.61 N/A -9.04 -3.72 -5.27 -7.52 -7.91 -7.80
02-29-20 to 03-31-20 -8.40 -8.80 0.49 -0.59 -12.72 -12.35 -20.34 -20.25 -22.33 -22.40 N/A -13.35 -16.92 -15.40 -16.92 -21.53 -13.89
03-31-20 to 04-30-20 6.00 6.81 1.31 1.78 12.67 12.82 14.10 14.18 12.87 12.70 N/A 6.46 7.87 9.16 6.55 8.23 6.83
04-30-20 to 05-31-20 2.90 2.70 0.36 0.47 4.77 4.76 7.27 7.31 4.40 4.31 N/A 4.35 3.16 0.77 3.72 0.17 4.65
05-31-20 to 06-30-20 1.58 1.72 0.50 0.63 1.76 1.99 1.49 1.26 3.54 3.74 N/A 3.40 6.77 7.35 0.83 3.04 -0.22
06-30-20 to 07-31-20 3.13 3.27 1.08 1.49 5.84 5.64 4.56 4.61 4.28 4.11 N/A 2.33 8.63 8.94 3.66 4.14 3.67
07-31-20 to 08-31-20 2.34 2.39 -0.77 -0.81 6.95 7.19 3.58 3.51 3.86 3.99 N/A 5.14 3.07 2.21 2.05 0.75 2.89
08-31-20 to 09-30-20 -1.68 -1.79 0.06 -0.05 -3.75 -3.80 -3.34 -3.25 -4.67 -4.70 N/A -2.60 -0.94 -1.60 -2.04 -3.21 -1.64
09-30-20 to 10-31-20 -0.78 -0.81 -0.45 -0.45 -2.49 -2.66 2.24 2.17 2.55 2.58 N/A -3.99 1.30 2.06 -2.82 -2.57 -3.30
10-31-20 to 11-30-20 7.06 7.45 0.49 0.98 10.69 10.95 14.60 14.28 18.22 18.17 N/A 15.50 9.63 9.25 9.42 10.73 10.01
11-30-20 to 12-31-20 2.97 2.86 0.10 0.14 3.71 3.84 6.46 6.52 8.24 8.32 N/A 4.65 7.11 7.35 2.98 3.36 2.27
Date to Date
12-31-19 to 12-31-20 10.84 11.23 6.95 7.51 17.19 18.40 13.93 13.66 11.46 11.29 N/A 7.82 18.01 18.31 -1.89 -7.52 2.24
Page 27
Disclosures
T R U S T E D A D V I S O R S ▪M O R E E X P E R T S ▪B E T T E R A C C E S S16
Important Assumptions
IMPORTANT:The projections or other information generated by Alaska Permanent Capital Management Company (APCM)regarding the likelihood of various outcomes are hypothetical
in nature,do not reflect actual investment results,and are not guarantees of future results.There can be no assurance that the projected or simulated results will be achieved or
sustained.The charts and data only present a range of possible outcomes.Actual results will vary over time,and such results may be better or worse than the simulated scenarios.
Clients should be aware that the potential for loss (or gain)may be greater than that demonstrated in the simulations.Please note that the analysis does not take into consideration all
asset classes,and other asset classes not considered may have characteristics similar or superior to those being analyzed.
Important Legal Information
These calculations are designed to be informational and educational only,and when used alone,do not constitute investment advice.APCM encourages investors to review their
investment strategy periodically as financial circumstances do change.
Model results are provided as a rough approximation of future financial performance.Actual results could produce different outcomes (either better or worse)than those illustrated by
the model,since it is not possible to anticipate every possible combination of financial market returns.APCM is not responsible for the consequences of any decisions or actions taken in
reliance upon or as a result of the information provided by the results of the model.
Other Influences on Rates of Return
Investment management fees:Returns are presented gross of management fees and include the reinvestment of all income.Actual returns will be reduced by investment advisory fees
and other expenses that may be incurred in the management of the account.The collection of fees produces a compounding effect on the total rate of return net of management fees.
As an example,the effect of investment management fees on the total value of a client’s portfolio assuming (a)quarterly fee assessment,(b)$1,000,000 investment,(c)portfolio return
of 8%a year,and (d)1.00%annual investment advisory fee would be $10,416 in the first year,and cumulative effects of $59,816 over five years and $143,430 over ten years.Actual
investment advisory fees incurred by clients may vary.
Taxes:Unless noted otherwise,model results have not been adjusted for any state or federal taxes or penalties.
Inflation:Unless noted otherwise,model results do not adjust any inputs or outcomes for inflation.Inflation is assumed to be constant over the investment horizon.
Limitations Inherent in Model Results
Limitations include but are not restricted to the following:
Model results do not represent actual trading and may not reflect the impact that material economic and market factors might have had on APCM’s decision making if the actual client
money were being managed.
Extreme market movements may occur more frequently than represented in the model.
Some asset classes have relatively limited histories.While future results for all asset classes in the model may materially differ from those assumed in APCM’s calculations,the future
results for asset classes with limited histories may diverge to a greater extent than the future results of asset classes with longer track records.
Market crises can cause asset classes to perform similarly over time;reducing the accuracy of the projected portfolio volatility and returns.The model is based on the long-term behavior
of the asset classes and therefore is less reliable for short-term periods.This means that the model does not reflect the average periods of "bull"and "bear"markets,which can be
longer than those modeled.
The model represent APCM’s best view of the next 7-10 years,but is unlikely to reflect actual investment returns worldwide over this period.
Page 28
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3179-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, AMENDING
POSITIONS IN THE CLASSIFIED SERVICE IN THE PUBLIC WORKS AND SENIOR CENTER
DEPARTMENTS AS ESTABLISHED BY THE ANNUAL BUDGET.
WHEREAS, pursuant to KMC 23.10.030, positions in the classified service are established by the
annual budget or classification plan; and,
WHEREAS, Ordinance 3121-2020 adopted the annual budget for the fiscal year commencing
July 1, 2020 and ending June 30, 2021, which included the Authorized Personnel Staffing Table,
organizational chart, and staffing for each department; and,
WHEREAS, the fiscal year 2021 Budget included an Activities/Volunteer Coordinator position
graded at a range 2.40 in the Senior Citizens Fund and a Public Works Administrative Assistant
II position graded at a range 9 in the General Fund; and,
WHEREAS, the Human Resource Director worked with the City Manager, Assistant to City
Manager, Public Works Director, and Senior Center Director to improve the position descriptions,
classification, grading and title for the existing Public Works Administrative Assistant II and
Activities/Volunteer Coordinator positions to better reflect the current administrative support
needs in the Public Works and the Senior Center; and,
WHEREAS, the updated position descriptions reflect the expanded scope and responsibility for
both positions, adding project support and procurement experience to the Public Works
Administrative Assistant II position, and resulting in a role classified appropriately as an
Administrative Assistant III graded at a range 10 and adding administrative support duties to the
Activities/Volunteer Coordinator resulting in a role graded at a range 9; and,
WHEREAS, this update in the structure, due to vacancy and an employee transfer, will not require
an increase to the adopted FY2021 Budget; however, it will have implications beyond the current
fiscal year as the amended and reclassified position are graded at higher salary ranges; and,
WHEREAS, the City Manager recommends updating the organizational structure to allow for
revised Public Works Administrative Assistant III and Senior Center Activities/Volunteer
Coordinator positions with salary ranges reflecting the revised responsibilities of those positions
as referenced in Attachment A; and,
WHEREAS, these amendments to position descriptions and Authorized Personnel Staffing Table
are in the best interests of the City.
Page 29
Ordinance No. 3179-2021
Page 2 of 2
_____________________________________________________________________________________
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. The Authorized Personnel Staffing Table in the annual budget for the fiscal year
commencing July 1, 2020 and ending June 30, 2021, is amended as referenced in Attachment A.
Section 2. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
upon adoption.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February, 2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: January 20, 2021
Enacted: February 3, 2021
Effective: February 3, 2021
Page 30
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Stormy Brown, Human Resources Director
DATE: January 11, 2021
SUBJECT: Ordinance 3179-2021 - Amending Positions in the Classified Service
Established by the Annual Budget
____________________________________________________________________________
Each fiscal year, the City Manager proposes the Authorized Personnel Staffing Table as part of
the Budget document to communicate how each specific position within the City shall be assigned
to support each department. In most cases, the Table remains as published. On occasion,
however, the City Manager may find it necessary to request that mid-budget revisions to the
approved personnel plans be considered by the City Council in order to best support the changing
needs of the City’s departments. In this Ordinance, the Administration seeks the Council’s
approval to make changes to two positions in order to improve the administrative support models
for both the Public Works and Senior Center departments.
First, we ask that the City Council approve the grade change requested for the administrative
support position within Public Works. The City Council has authorized and appropriated funds for
an increased amount of important capital projects needed by the City, however several currently
funded projects are not yet started due to a lack of available internal resources to initiate the work.
Administration worked with Human Resources and Public Works to review the support needs of
the Public Works department and identified that a restructure of the department’s support position
will be a critical first step to strengthening the capacity of this group.
Today, the support position for Public Works, an Administrative Assistant II (Grade 9), fills the
role of a general administrative support function but does not require the level of project support
and procurement experience necessary to successfully coordinate expanded procurement needs
or carry each project through the necessary tollgates, addressing gaps and following up on open
items as an active participant in this critical process. Restructuring this position to include
procurement and project support experience will ensure that the position can be utilized to fully
support the project and purchasing needs of the department. A newly structured position has
been proposed as the equivalent to an Administrative Assistant III (Grade 10), which would
provide additional project and purchasing support in Public Works. As the Administrative Assistant
III is already identified and classified within the City’s Classification Plan, this change does not
Page 31
Page 2 of 2
amend the Classification Plan but requires an adjustment to the Authorized Personnel Staffing
Table as published on page 330 of the approved FY21 Budget document.
In addition to the Public Works staffing change, while working with the Kenai Senior Center
Director, the Administration has identified an opportunity for the role of the Activities and
Volunteer Coordinator position (Grade 2.4) within the Kenai Senior Center to be reviewed and
changed to include administrative support, covering its current duties and adding responsibilities
which support the broader department. Currently, a vacant position, the Senior Center Director
worked with Human Resources to review the role which would include new administrative support
responsibilities to meet the level of support required at the Senior Center and extend the
capabilities of other positions within the department. These duties, in addition to the original
responsibilities, together resemble the level of support usually found in the City’s administrative
assistant support levels. Once rewritten and evaluated, the revised position has been established
at the Administrative Assistant II level, grade 9, still with a focus on Activities and Volunteer
programs at the Senior Center. This approach is similar to many of the City’s administrative
positions which support specific department needs.
As the current incumbent holding the Administrative Assistant II position in Public Works does not
have the procurement and project support experience to assume the new Administrative Assistant
III position, it is our intention to transfer the employee into the Administrative Assistant II position
now vacant at the Senior Center. We have discussed this opportunity with the current employee,
who has indicated interest in making the transfer.
Thank you for your consideration of these revisions and grade changes.
Page 32
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NOTE: Updates made to grades in Senior Center and Public Works, as
identified by removal (strike through) and addition/revision (underlined)
were made effective by City Council adoption of Ordinance 3179-2021 on:
Page 36
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Sponsored by: Legal
CITY OF KENAI
ORDINANCE NO. 3180-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, AMENDING KENAI
MUNICIPAL CODE 3.05.070-CITATION PROCEDURE, AND KENAI MUNICIPAL CODE
13.10.015 – MINOR OFFENSE FINE SCHEDULE TO INCORPORATE VARIOUS ANIMAL
CONTROL OFFENSES INTO THE MINOR OFFENSE FINE SCHEDULE AND MAKE OTHER
HOUSEKEEPING CHANGES.
WHEREAS, this Ordinance incorporates existing mandatory court appearances into the fine
schedule, establishes progressive fines for multiple offenses, provides a citation process for
animal control officers to address livestock violations, and makes other housekeeping changes;
and,
WHEREAS, KMC 3.05.060- Penalties and Remedies, KMC 3.05.070- Citation Procedure, and
KMC 13.05.010- Penalties, provide a citation process for Animal Control to enforce animal control
ordinances adjudicated through the court system; and,
WHEREAS, the City’s fine schedule contained in KMC 13.10.015 provides the specific fine
amount for each offense; and,
WHEREAS, pursuant to KMC 3.05.070, certain offenses, including cruelty charges and third
offenses within a 12 month period, require a mandatory court appearance as opposed to an ability
to pay for the citation without a court hearing; and,
WHEREAS, many mandatory court appearance charges were inadvertently excluded from the
City’s fine schedule and should be included; and,
WHEREAS, while mandatory Court appearances are typically required when offenses are more
serious, or prior citations have failed to curb the offensive behavior, they are more burdensome
on the defendant, the City and the court system; and,
WHEREAS, Animal Control recommends that some offenses currently requiring a mandatory
court appearance be changed to a set fine amount without a requirement to appear in court; and,
WHEREAS, KMC 3.10.030 Maintenance and Sanitation, that requires animals and associated
facilities to be kept in a clean and sanitary condition, currently requires a mandatory court
appearance, but a progressive fine schedule is preferable given the nature of the offense; and,
WHEREAS, changing KMC 3.10.050 – Animals Near Streets, from a mandatory court appearance
to a progressive fine schedule is also recommended; and,
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WHEREAS, changing KMC 3.15.010 – Licenses Required, that requires animal kennels to be
licensed, from a mandatory court appearance to a progressive fine schedule is likewise
recommended; and,
WHEREAS, finally, changing KMC 3.15.050(a) – Standards For Operating Kennel Facilities, that
outlines minimum health and safety standards for operation of a kennel facility, from a mandatory
court appearance to a progressive fine schedule is recommended; and,
WHEREAS, KMC 3.10.070- Livestock Within City Limits, prohibits certain livestock on some
properties in some zones within the City; and,
WHEREAS, while livestock ordinances are managed by animal control, offenses for livestock
violations have not previously been incorporated into the citation process, but instead have been
enforced through the Planning Department’s code compliance officer; and,
WHEREAS, providing a citation process for livestock violations will allow for an ease of
enforcement and provide clarity to the process; and,
WHEREAS, a prior update of the Minor Offense Fine Schedule inadvertently removed KMC
3.10.020 – Control and Confinement of Animals, subsection (a) related to restraint of dogs that
should be placed back into the fine schedule for enforcement purposes; and,
WHEREAS, increasing the fine amount to $50.00 and establishing a progressive fine schedule
for KMC 3.20.010 – Failure to License Dog, will discourage owners from choosing to pay a $25
fine, instead of the non-sterilized dog license fee of $30.60; and,
WHEREAS, updating KMC 13.10.015 – Minor Offense Fine Schedule, to reflect the revised fines
is in the best interest of the City; and,
WHEREAS, a previous amendent of KMC 3.10.020 – Control and Confinement of Animals,
requires an additional update to 3.05.070 – Citation Procedure, to reflect a correct cross reference
that was previously inadvertently missed.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. Amendment of Section of the Kenai Municipal Code: That Kenai Municipal Code,
Section 3.050.070 – Citation procedure, is hereby amended as follows:
3.05.070 Citation [P]Procedure.
(a) An officer may serve a summons and complaint in the form of a citation upon a person for
violating a provision of this chapter, or a term, condition, or limitation of a license issued
hereunder, or a City regulation promulgated under this title.
(b) A summons and complaint issued under this section shall contain a notice directing the
person to whom it is issued to appear in the Court for the Third Judicial District of the State of
Alaska at Kenai, or pay a fine to the City of Kenai.
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(c) An officer who issues a summons and complaint under this section shall deposit the original
and a copy of the citation with the officer’s immediate superior who shall forward the citation to
the City of Kenai Legal Department.
(d) Mandatory court appearance shall be required:
(1) For a violation of KMC 3.10.020[(C)](d).
(2) For a violation of KMC 3.10.070(g).
(3) For all cruelty charges under this code.
(4) Upon third citation of all other provisions of KMC Chapter 3.10 in a twelve (12) month
period.
Section 2. Amendment of Section of the Kenai Municipal Code: That Kenai Municipal Code,
Section 13.10.015 – Minor offense fine schedule, is hereby amended as follows:
13.10.015 Minor [O]Offense [F]Fine [S]Schedule.
In accordance with AS 29.25.070(a), citations for the following offenses may be disposed of as
provided in AS 12.25.195 through 12.25.230, without a court appearance, upon payment of the fine
amounts listed below or on the State of Alaska Uniform Minor Offense Tables for Titles 28 and 13
AAC offenses plus the state surcharge required by AS 12.55.039 and 29.25.074. Fines must be paid
to the City of Kenai. The Rules of Minor Offense Procedure in the Alaska Rules of Court apply to all
offenses listed below. Citations charging these offenses must meet the requirements of Minor
Offense Rule 3. If a person charged with one (1) of these offenses appears in court and is found
guilty, the penalty imposed for the offense may not exceed the fine amount for that offense. If an
offense is not listed on this fine schedule or another fine schedule the defendant must appear in
court to answer to the charges.
The fine amounts are doubled for motor vehicle or traffic offenses committed in a highway work
zone, as those terms are defined in AS 28.90.990 and 13 AAC 40.010(b).
An offense may not be disposed of without a court appearance if the offense is in connection with a
motor vehicle accident that results in a death of a person.
MINOR OFFENSE FINE SCHEDULE
CITE RULE/OFFENSE FINE
OFF-ROAD VEHICLE OPERATION
1 KMC 13.40.020(a) On public or private property without the express or
implied consent of the owner, authorized agent, or
representative.
100.00
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CITE RULE/OFFENSE FINE
2 KMC 13.40.020(b) On municipal park lands, except where specifically
authorized, municipal playgrounds and school
playground areas except by special authorization or in a
specially designated area. Notwithstanding, wheelchairs
may be operated on park lands and playgrounds by
persons with mobility disabilities, subject to the other
provisions of this chapter.
100.00
3 KMC 13.40.020(c) On a City or State maintained roadway, sidewalk, or on
a path or trail designated for bicycles or pedestrians,
unless such travel is necessary to go around an
obstruction or hazard.
100.00
4 KMC 13.40.020(d) On any City or State road right-of-way that has been
landscaped, seeded, or otherwise improved.
100.00
5 KMC 13.40.020(e) In such a manner as to produce sufficient noise to
disturb the peace and quiet of another.
100.00
6 KMC 13.40.020(f) In such a manner as to cause damage to improved
property or destruction to the terrain.
100.00
7 KMC 13.40.030 Special stops required 90.00
8 KMC 13.40.050 Helmet required 100.00
9 KMC 13.30.080 Operating vehicle in a prohibited area 100.00
ANIMALS
10 KMC 3.10.010 No person may permit an animal which he owns to
interfere with another person’s reasonable right to peace
or privacy by making repeated or continued noise. (1st
offense)
50.00
11 KMC 3.10.010 No person may permit an animal which he owns to
interfere with another person’s reasonable right to peace
or privacy by making repeated or continued noise. (2nd
offense)
100.00
12 KMC 3.10.010 No person may permit an animal which he owns to
interfere with another person’s reasonable right to peace
or privacy by making repeated or continued noise. (3rd
offense)
UP TO
500.00
13 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (1st offense)
50.00
14 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (2nd offense)
100.00
15 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (3rd offense)
UP TO
500.00
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CITE RULE/OFFENSE FINE
[12]16 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (1st offense)
50.00
[13]17 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (2nd offense)
100.00
18 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (3rd offense)
UP TO
500.00
[14]19 KMC 3.10.020(c) A person who owns a dog or other animal shall use
reasonable means, including restraint or confinement, to
prevent that dog or other animal from causing harm or
injury to another person or animal unless the animal is
on the private property of the owner.
100.00
[15]20 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (1st offense)
50.00
[16]21 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (2nd offense)
100.00
22 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (3rd offense)
UP TO
500.00
[17]23 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (1st offense)
50.00
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CITE RULE/OFFENSE FINE
[18]24 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (2nd offense)
100.00
25 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (3rd offense)
UP TO
500.00
[19]26 KMC 3.10.020(f) No person other than an officer performing his duties
under this title may release an animal from restraint
without its owner’s consent, except to preserve the
animal’s life. (1st offense)
50.00
[20]27 KMC 3.10.020(f) No person other than an officer performing his duties
under this title may release an animal from restraint
without its owner’s consent, except to preserve the
animal’s life. (2nd offense)
100.00
28 KMC 3.10.020(f) No person other than an officer performing his duties
under this title may release an animal from restraint
without its owner’s consent, except to preserve the
animal’s life. (3rd offense)
UP TO
500.00
29 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he keeps the animal,
and all areas adjacent thereto, in a clean and sanitary
condition and free from objectionable odor. (1st offense)
50.00
30 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he keeps the animal,
and all areas adjacent thereto, in a clean and sanitary
condition and free from objectionable odor. (2nd offense)
100.00
31 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he keeps the animal,
and all areas adjacent thereto, in a clean and sanitary
condition and free from objectionable odor. (3rd offense)
UP TO
500.00
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CITE RULE/OFFENSE FINE
32 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (1st offense)
50.00
33 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (2nd offense)
100.00
34 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (3rd offense)
UP TO
500.00
35 KMC 3.10.070 No person shall keep or maintain livestock (1st offense) 50.00
36 KMC 3.10.070 No person shall keep or maintain livestock (2nd offense) 100.00
KMC 3.10.070 No person shall keep or maintain livestock (3rd offense) UP TO
500.00
[22]37 KMC 3.10.080 Failure to properly dispose of dog waste 50.00
38 KMC 3.15.010 No person may operate a kennel facility without a
license (1st offense)
50.00
39 KMC 3.15.010 No person may operate a kennel facility without a
license (2nd offense)
100.00
40 KMC 3.15.010 No person may operate a kennel facility without a
license (3rd offense)
UP TO
500.00
41 KMC 3.15.050(a) Standards for operating facilities (1st offense) 50.00
42 KMC 3.15.050(a) Standards for operating facilities (2nd offense) 100.00
[23]43 KMC 3.15.050(a) Standards for operating facilities (3rd offense) UP TO
[500]500.00
[21]44 KMC 3.20.010 Failure to license a dog. (1st offense) [25.00]
50.00
45 KMC 3.20.010 Failure to license a dog (2nd offense) 100.00
46 KMC 3.20.010 Failure to license a dog (3rd offense) UP TO
500.00
PARKING
[24]47 KMC 13.10.060 Camping on private property 50.00
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CITE RULE/OFFENSE FINE
[25]48 KMC 13.30.030 Night parking prohibited 50.00
[26]49 KMC 13.30.035 Paid parking 50.00
[27]50 KMC 13.30.095 Parking prohibited on Kenai Avenue 50.00
[28]51 KMC 18.35.010 Overnight camping 50.00
[29]52 AR 6.05.010-030 Parking at airport (1st offense) 25.00
[30]53 AR 6.05.010-030 Parking at airport (2nd offense) 50.00
ABANDONED / JUNK VEHICLES / LITTERING
[31]54 KMC 12.20.010 Deposit of refuse (littering) 500.00
[32]55 KMC 12.20.010 No fish, fish carcasses, fish parts or offal may be
deposited in dumpsters or receptacles unless marked
specifically to allow for fish or fish parts.
150.00
[33]56 KMC 12.25.020 Abandonment of vehicle 100.00
[34]57 KMC 12.25.030 Junk vehicle 100.00
OFFENSES AGAINST PROPERTY
[35]58 KMC 13.20.030 Protection of North and South Shore—No physical
damage
150.00
[36]59 KMC 13.20.030 Protection of North and South Shore—Physical damage 500.00
[37]60 KMC 13.20.035 Burning of pallets and other wood materials containing
metal fasteners
50.00
Section 3. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 4. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
30 days after enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February, 2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Page 44
Ordinance No. 3180-2021
Page 9 of 9
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Introduced: January 20, 2021
Enacted: February 3, 2021
Effective: March 5, 2021
Page 45
MEMORANDUM
TO: Mayor Gabriel and Council Members
FROM: Scott Bloom, City Attorney
DATE: January 7, 2021
SUBJECT: Ordinance 3180-2021 – Animal Control
The purpose of this ordinance is to incorporate existing mandatory court appearances into the
fine schedule, establish progressive fines for multiple offenses, provide a citation process for
animal control officer to address livestock, and make other housekeeping changes.
Removing mandatory appearances for first time violations to progressive fines will provide Animal
Control Officers with an opportunity to work with and educate animal owners. The first violation
fine will be $50.00, the second violation fine within a rolling calendar year will be $100.00. A third
violation within that rolling calendar year would then progress to a mandatory court appearance
and up to a $500.00 fine. Cruelty to animal violations will remain a first time mandatory court
appearance.
The progressive fines will also apply to livestock within city limits. Animal Control having both
management and authority to assess fines for violations regarding livestock will provide clarity to
the public and make enforcement less burdensome.
A non-sterlized dog license is $30.60, costing more than the $25.00 fine for an unlicensed dog.
Changing the fine to a progressive fine beginning at $ 50.00 will eliminate the owners paying the
fine and in lieu of licensing the dog.
The update of KMC 13.10.015 Minor Offense Schedule will incorporate these changes and
housekeeping corrections from prior schedule modifications.
Your consideration is appreciated.
Page 46
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3181-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, WAIVING KENAI
MUNICIPAL CODE 21.10.130- LEASE EXECUTION AND APPROVING A LEASE EXECUTION
EXTENSION TO JULY 27, 2021 TO KENAI AVIATION OPERATIONS, LLC FOR LOT 9A,
BLOCK 5, GENERAL AVIATION APRON SUBDIVISION NO. 5.
WHEREAS, the Kenai City Council approved of a 45-year lease application from Kenai Aviation
Operations, LLC for Lot 9A, Block 5, General Aviation Apron Subdivision No. 5 to be used as a
hangar with office space; and,
WHEREAS, a 60-day extension allowed by Kenai Municipal Code 21.10.130 was granted by the
City Manager with good cause of the COVID-19 public health emergency for the execution of a
lease agreement; and,
WHEREAS, Kenai Aviation Operations, LLC has provided a letter to the City requesting a lease
execution extension greater than the 60 days allowed by Kenai Municipal Code 21.10.130 due to
the unforeseen circumstances of the COVID-19 public health emergency and its impact on their
business plans; and,
WHEREAS, the granting of a lease execution extension to Kenai Aviation Operations, LLC needs
to be retroactive from January 27, 2021 to July 27, 2021; and,
WHEREAS, the project will enhance public safety and quality of life while providing economic
development on property leased from the City within the Kenai Municipal Airport Reserve.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That KMC 21.10.130 is hereby waived due to the COVID-19 public health
emergency for the exclusive purpose of granting a lease execution extension to Kenai Aviation
Operations, LLC retroactively from January 27, 2021 to July 27, 2021, for Lot 9A, Block 5, General
Aviation Apron Subdivision No. 5.
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Page 47
Ordinance No. 3181-2021
Page 2 of 2
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
30 days after enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February, 2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Introduced: January 20, 2021
Enacted: February 3, 2021
Effective: March 5, 2021
Page 48
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: Ryan Foster, Planning Director
DATE: January 12, 2021
SUBJECT: Ordinance No. 3181-2021 - Lease Execution Extension to Kenai
Aviation Operations, LLC for Lot 9A, Block 5, General Aviation Apron
Subdivision No. 5.
City Council approved a 45-year lease application from Kenai Aviation Operations, LLC on
September 16, 2020 for Lot 9A, Block 5, General Aviation Apron Subdivision No. 5 at 155 North
Willow Street to be used as a hangar with office space. Kenai Municipal Code 21.10.130 requires
a lease be executed within 60 days of the applicant being mailed a lease form for signature. If the
applicant shows good cause, the City Manager may grant an extension not exceeding 60 days
for the applicant to execute and return a signed lease. The City Manager found good cause due
to the COVID-19 public health emergency to grant a 60-day extension to the execution of the
lease for Lot 9A. This extended the deadline for the execution and signature of the lease to
January 27, 2021.
Kenai Aviation Operations has requested a greater extension for signing the lease than the 60
days allowed by Kenai Municipal Code due to the unforeseen circumstances created by the
COVID-19 public health emergency. If City Council approves, Ordinance 3181-2021 would extend
the date for Kenai Aviation Operations, LLC to execute the lease and sign the lease agreement
with the City retroactively from January 27, 2021 to July 27, 2021.
Thank you for your consideration.
Attachment:
Email dated January 11, 2021 from Kenai Aviation Operations, LLC requesting a lease
execution extension.
Page 49
From:Jacob Caldwell
To:Ryan Foster
Subject:Extension for Kenai Aviation Operations Lease Execution
Date:Monday, January 11, 2021 3:18:50 PM
CAUTION: This email originated from outside your organization. Exercise caution when opening attachments or
clicking links, especially from unknown senders.
To whom it may concern,
We are writing to request an additional extension on our lease application. As we have all experienced, the ability to
secure financing for big projects this year has been very difficult due to the uncertainty related to covid 19. Our
investors, like many others have chosen to wait to make big commitments for a few more months. So, although we
intend to build on the lot, our timeline for financing is indefinite for the near future. We are requesting the longest
extension that you feel comfortable giving us. Our hope would be for an answer from our investors before the
extension period is up.
Thank you for your consideration,
Joel Caldwell
Owner
Kenai Aviation Operations
907-252-4878
Page 50
_____________________________________________________________________________________
Sponsored by: Administration
CITY OF KENAI
RESOLUTION NO. 2021-05
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, DESIGNATING THE
INVESTMENT AND ALLOCATION PLAN FOR THE CITY’S PERMANENT FUNDS AND
ESTABLISHING APPROPRIATE BENCHMARKS TO MEASURE PERFORMANCE FOR
CALENDAR YEAR 2021.
WHEREAS, pursuant to KMC 7.30.020 (a) (2) the Council of the City of Kenai annually approves
an Asset Allocation Plan for investment of the City’s Permanent Funds; and,
WHEREAS, KMC 7.30.020 (b) permits investment of the Permanent Funds in various asset
classes and the Council believes that establishing asset allocation criteria for these various asset
classes is in the best interest of the City of Kenai; and,
WHEREAS, the annually approved Asset Allocation Plan will provide benchmarks to measure
investment performance.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
Section 1: That the Council adopts the Asset Allocation Plan for calendar year 2021 as
follows:
The Asset Allocation Plan and Target Weightings with range restrictions are:
ASSET CLASS TARGET % WEIGHTING RANGE %
Cash 5 0-10
Fixed Income 30 20-45
Large-Cap Domestic Equity 22 17-27
International Equity 12 7-17
Mid-Cap Equities 12 7-17
Small-Cap Equities 6 0-11
International Emerging Markets 8 0-13
Real-estate equities 2 0-5
Infrastructure equities 3 0-6
Section 2: The performance of the Fund and investment managers will be measured as
follows:
Performance measurement of the Fixed Income allocation will be measured against the Target
weighting, using the Bloomberg Barclays U.S. Aggregate Bond Index for the benchmark.
Performance measurement of the Large-Cap Domestic Equity allocation will be measured against
the Target weighting, using the Standard & Poor’s 500 Index for the benchmark.
Page 51
Resolution No. 2021-05
Page 2 of 2
_____________________________________________________________________________________
Performance measurement of the International Equity allocation will be measured against the
Target weighting, using the Morgan Stanley Capital International Europe, Australasia and Far
East (MSCI EAFE) index for the benchmark.
Performance measurement of the Mid-Cap Equity allocation will be measured against the Target
weighting, using the Standard & Poor’s 400 Mid-Cap Index as the benchmark.
Performance measurement of the Small-Cap Equity allocation will be measured against the
Target weighting, using the Standard & Poor’s 600 Small-Cap Index as the benchmark.
Performance measurement of the International Emerging Markets allocation will be measured
against the Target weighting, using the Morgan Stanley Capital International Emerging Markets
index as the benchmark.
Performance measurement of the Real-Estate Equities allocation will be measured against the
target weighting, using the Standard & Poor’s US REIT Index as the benchmark.
Performance measurement of the Infrastructure Equities allocation will be measured against the
target weighting, using the STOXX Global Broad Infrastructure Index as the benchmark.
Performance measurement of the Cash allocation will be measured against the Target weighting,
using the Citi Group 90 Day T-Bill Index as the benchmark.
Section 3. That this Resolution takes effect immediately upon passage.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February 2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________
Page 52
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Terry Eubank, Finance Director
DATE: January 21, 2021
SUBJECT: Resolution No. 2021-05 – The Investment Allocations Of And
Establishing Appropriate Benchmarks To Measure Performance Of
The City’s Permanent Funds For Calendar Year 2021.
Pursuant to KMC 7.30.020 the Council annually designate by resolution, the authorized
investments and allocation plan for the City’s Permanent Funds. Resolution No. 2021-05
establishes the allocation plan and evaluation benchmarks to be used for calendar year 2021.
This year’s allocation differs from last year’s plan. It is recommended to increase the allocation
to equities, stocks of publicly traded companies, from 50% to 60% of the portfolio with a
corresponding decrease in the fixed income, bonds, portion of the portfolio from 40% to 30% of
the portfolio total. The sharp reduction in short-term interest rates that occurred by the Federal
Reserve Board in response to the COVID-19 pandemic coupled with the projection for continued
low rates for the foreseeable future resulted in a reduction in the portfolio’s expected long-term
rate of return from 5.9% a year ago to 5.3% moving forward. 5.3% is below the income level
needed to provide the established 4% average draw from the permanent funds and provide
inflation proofing of the fund’s corpus. Long-term annual projections of inflation are 2.0%.
The recommendation to Increase the portfolio’s equity allocation and decreasing the fixed income
allocation will provide a projected annual rate of return of 6.0% providing the return necessary to
provide for a 4% annual draw and 2% for inflation proofing of the fund’s corpus. As with any
investment, in order to increase the expected rate of return the investor must assume additional
risk. The 2020 asset allocation is projected to provide returns between -12.3% and 23.7%
annually over the next ten-years with an average rate of return of 5.3%. The recommended asset
allocation is projected to provide returns between -14.9% and 28.0% annually over the next ten-
years with an average rate of return of 6.0%.
Other options were discussed including the addition of high yield bonds of United States
Corporations. High yield bonds have a credit rating below investment grade, below BBB. Also
considered was inclusion of high yield bonds of United State Corporations and an asset class
know as Alt Beta. Alt Beta funds are relatively new investments that attempt to replicate the risk
and return characteristics of hedge fund strategies by following a systematic investment process.
Page 53
Page 2 of 2
Both of these options produced projected returns equivalent the recommended allocation at
slightly lower risks. The Administration will continue to analyze these other options and may
recommend incorporation of one or both in coming years but feels more comfortable with the
recommended allocation for the current year.
There are no changes to the recommended benchmarks by which the portfolio’s performance is
to be evaluated. The following is a comparison between the 2020 asset allocation and the
recommended 2021 asset allocation for your review.
2020 2021
Asset Asset
Allocation Allocation Difference
Equities
US Large Cap 20% 22% 2%
US Mid Cap 10% 12% 2%
US Small Cap 5% 6% 1%
International Equities 10% 12% 2%
Emerging Market Equities 5% 8% 3%
50% 60% 10%
Alternatives
Real Estate 2% 2% -%
Infrastructure 3% 3% -%
5% 5% -%
Fixed Income
US Aggregate 40% 30% (10)%
Cash 5% 5% -%
45% 35% (10)%
100% 100% -%
Expected Average Annual Return 5.68% 6.54% 0.86%
Expected Risk (one Standard Deviation) 8.99% 10.72% 1.73%
Return Range -12.3% to 23.7% -14.9% to 28.0% -2.6% to 4.3%
Long-term Expected Return 5.30% 6.00% 0.70%
Your support for adoption of Resolution 2021-05 is respectfully requested.
Page 54
_____________________________________________________________________________________
Sponsored by: Administration
CITY OF KENAI
RESOLUTION NO. 2021-06
A RESOLUTION OF THE CITY OF KENAI, ALASKA, AUTHORIZING THE CITY MANAGER TO
ENTER AN AMENDED BAR/LOUNGE CONCESSION AGREEMENT AT THE KENAI
MUNICIPAL AIRPORT WITH THE UPPER DECK LOUNGE.
WHEREAS, on June 17, 2015, Council passed Resolution No. 2015-40 authorizing the City
Manager to enter into a Bar and Lounge Concession Agreement for the Kenai Municipal Airport
for the contract years July 1, 2015 through June 30, 2020 to pay a monthly base rent plus a
monthly percentage rate of 2% of gross sales; and,
WHEREAS, the Concession Agreement is on a month-to-month basis until such time the City
determines the COVID pandemic is behind us and advertises an Invitation to Bid; and,
WHEREAS, on April 3, 2019, Council passed Resolution No. 2019-22 authorizing the City
Manager to enter into an amended bar and lounge concession agreement with the Kenai
Municipal Airport to reimburse the Concessionaire for costs impacting the business closure of
approximately nine weeks, due to the extensive work associated with the Terminal Rehabilitation
Project; and,
WHEREAS, on July 1, 2020, Council passed Resolution No. 2020-55 retroactively approving
rent relief measures for Kenai Municipal Airport concessionaires during mandatory closures
caused by the COVID-19 Public Health Emergency; and,
WHEREAS, the Upper Deck Lounge is still experiencing a significant loss of business due to the
continuing COVID pandemic along with the reduction in numbers of traveling public as a result of
the RAVN Alaska bankruptcy and is requesting a fifty (50) percent reduction in the monthly base
rent from January 1, 2021 until June 30, 2021; and,
WHEREAS, City Administration has reviewed their financial data and determined that the request
is reasonable due to continued impacts as a result of the COVID 19 pandemic.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA:
Section 1. That the City Manager is authorized to execute an amendment to the concession
contract with the Upper Deck Lounge to reduce the monthly base rent from January 1 through
June 30, 2021 by fifty (50) percent plus applicable sales tax, in compliance with applicable FAA
requirements.
Section 2. That this Resolution is retroactive to payments due in January 2021.
Section 3. That this Resolution takes effect immediately upon passage.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February, 2021.
Page 55
Resolution No. 2021-06
Page 2 of 2
_____________________________________________________________________________________
__________________________________
BRIAN GABRIEL, SR., MAYOR
ATTEST:
______________________________________
Jamie Heinz, CMC, City Clerk
Page 56
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Mary Bondurant, Airport Manager
DATE: January 25, 2021
SUBJECT: Resolution No 2021-06 – Bar/Lounge Concession Agreement
Amendment
In an email to City administration on January 20, 2021, Rod and Laura Peterkin, owners of the
Upper Deck Lounge, asked for a reduction to their base rent starting January 2021.
The original term of the bar/lounge concession agreement was July 1, 2015 through June 30,
2020. The concession agreement is now on a month-to-month basis until such time the City
determines the COVID pandemic is behind us.
Council has previously approved rent relief to the Upper Deck due to the pandemic and the
terminal rehabilitation project.
The Upper Deck has reduced their inventory and hours of operation and are still experiencing
loss of business due to the pandemic, reduction in travelers, and the RAVN Alaska bankruptcy.
They would like the City to reduce the monthly base rent by 50%. They will continue to pay the
monthly percentage rent of 2% of gross sales plus applicable sales tax.
This resolution would allow the City Manager to execute an amendment to the concession
agreement for the Upper Deck Lounge that would reduce the monthly base rent by 50% effective
January 1, 2021 through June 30, 2021 or until such time a new contract is signed. The Upper
Deck will continue to pay the monthly percentage rate of gross sales established at 2%.
Thank you for your consideration.
Page 57
_____________________________________________________________________________________
Sponsored by: Administration
CITY OF KENAI
RESOLUTION NO. 2021-07
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, ADOPTING THE CITY
OF KENAI’S CAPITAL IMPROVEMENT PLAN PRIORITY LIST FOR STATE FUNDING
REQUESTS FOR THE FISCAL YEAR 2022.
WHEREAS, the Capital Improvement Plan (CIP) identifies needed capital projects; and,
WHEREAS, the CIP has historically been used to request capital funding from the State through
its capital budget; and,
WHEREAS, the City Council of Kenai recognizes the financial challenges facing the State of
Alaska, its Governor, and Legislature, but also believes that a realistic and sustainable State
capital budget is critical to the future health of our State; and,
WHEREAS, the City of Kenai has identified and prioritized capital funding requests that represent
key needed projects for our municipality; and,
WHEREAS, the City of Kenai’s number one priority for State Fiscal Year 2022 remains the Kenai
Bluff Stabilization Project; and,
WHEREAS, any funding for this project by the State will be eligible for a match from the United
States Army Corps of Engineers at 65% federal; and,
WHEREAS, $5,000,000 of State funding for this project would be eligible for over $9,200,000 in
federal funding; and,
WHEREAS, while the Kenai Bluff Stabilization Project is the City’s number one priority and is a
valuable opportunity for the State to leverage capital dollars, our Capital Improvement Priority List
also identifies important capital projects that focus on maintaining existing infrastructure.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA:
Section 1. That the City of Kenai adopts the attached City of Kenai Capital Improvement Plan
Priority List for State Funding Requests for the Fiscal Year 2022.
Section 2. That a copy of this Resolution and attachment be forwarded to Governor Mike
Dunleavy and the Alaska State Legislature.
Section 3. That this Resolution takes effect immediately upon passage.
Page 58
Resolution No. 2021-07
Page 2 of 2
_____________________________________________________________________________________
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 3rd day of February, 2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
______________________________________
Jamie Heinz, CMC, City Clerk
Page 59
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: Scott Curtin
DATE: January 27, 2021
SUBJECT: Resolution 2021-07
The purpose of this memo is to obtain concurrence with the City Council on the Administration’s
recommended priorities for the City’s Capital Improvement Program State Funding Requests.
The Administration has conducted meetings with all Department Heads in the development of this
list, and the projects included will provide the legislature with a variety of projects to consider with
a range of costs.
State funding for any of these projects would be a benefit to the City. Council’s support for
Resolution 2021-07 is respectfully requested.
Page 60
CITY OF KENAI CAPITAL IMPROVEMENTS PROGRAM (CIP) PRIORITIESFOR STATE FUNDING REQUESTS FORSFY 2022PROJECTS IDENTIFIED AND LISTED IN PRIORITY ORDERPRIORITY NUMBERPROJECT TITLE DESCRIPTION SFY2022 STATE FUNDING REQUEST NOTES/COMMENTS1Kenai Bluff Stabilization Project Construct an approximately 5,000 lineal foot erosion control structure on the north shore near the mouth of the Kenai River. $5,000,000 Requested for funding during SFY 2022 The Army Corps of Engineers completed the feasibility study for the project. PED Agreement was executed between the Corps and the City on September 14, 2020. The total cost of the project including design and construction is estimated at $32.5 million. This will require approximately $11,375,000 of funding to match Federal funding of $21,125,000. To date, $4,000,000 of State Grant funds and $585,000 of Federal funds have been committed to the project. Additionally, the residents of the City of Kenai approved the issuance of $2,000,000 in general obligation bonds through ballot proposition. Additional State funding could be used to provide the required match for the Federal funds. RFP to hire Engineering Professional Services was released on January 28, 2021.2Wildwood Drive Reconstruct 2,318 food of roadway. Existing road is 22-foot, and this project will widen to 24-foot and provide drainage ditching on both sides of roadway, remove existing deteriorating asphalt, stabilize sub-base, compact, and pave. $ 290,000.00 Wildwood drive provides access to the Wildwood Correctional Facility, and the City requires ownership and site control prior to proceeding with upgrades, which have been needed for at least 40 years. The City is currently working with the Kenai Native Association to gain site control for the road the City has maintained for decades. 3Paving & Improvements to City Streets The City of Kenai maintains approximately 20 miles of gravel surfaced roadways within its municipal boundaries. The cost of maintenance of gravel roadways is high, dust from gravel roadways is a health issue for the elderly & young. The City maintains an ongoing Local Improvement District (LID) program to pave local streets and roads with the City providing a 50% cost share for the improvements. $ 1,000,000.00 The ongoing infrastructure improvements funded by past State of Alaska capital grants has improved the safety and operational efficiency of the City's roadways. The projects have been designed and constructed by local consultants and contractors providing further economic benefits to the area.4Bridge Access Pedestrian Trail This project constructs a 10-foot-wide 1.3 mile paved and seperated pathway along the east side of Bridge Access Road from its intersection with Beaver Loop Road to its intersection with the Kenai Spur Highway. The final finished surface is anticipated to be 2" of asphalt over a 8-12" gravel sub-base. $ 294,947.00 With the recent completion of the Beaver Loop project in 2020 by Alaska Dept of Transportation (ADOT) which included a pedestrian path from Kenai Spur Hwy to Bridge Access Road, the proposed project will continue this path along Bridge Access Road back up to the Kenai Spur Hwy in the heart of Kenai, providing a continuous trail that is widely used by citizens and tourists alike.Page 1 of 3 Prepared by: P. OstranderPage 61
CITY OF KENAI CAPITAL IMPROVEMENTS PROGRAM (CIP) PRIORITIESFOR STATE FUNDING REQUESTS FORSFY 2022PROJECTS IDENTIFIED AND LISTED IN PRIORITY ORDERPRIORITY NUMBERPROJECT TITLE DESCRIPTION SFY2022 STATE FUNDING REQUEST NOTES/COMMENTS5Waste Water Treatment Facility Sludge Press ReplacementThis project provides for the replacement of the single existing 40 year old sludge press for the Kenai Waste Water Treatment Facility. Installation of a new screw press, control panels, and polymer injection systems are included in the Work. $ 900,000.00 The existing press is 40 years old, no longer in production and very challenging to find parts for. Often requiring staff to commission fabrication of replacement parts. Most comparable facilities have two presses, one as primary and one as a backup to allow for service of equipment. Our facility must have a reliable operational system to continue to maintain compliance with regulatory authorities.6Improvements to the City of Kenai Recreation CenterThis project would repair/replace aging, outdated and failing components of the facility. The improvements would include, but not be limited to; HVAC, New Facility Entrance, roof replacement, replacement of spectator seating, locker room reconstruction, fixture replacements, flooring, and other interior remodel/reconstruction. $ 750,000.00 The Kenai Recreation Center is housed in a building that has reached a stage in its life cycle that significant renovations are necessary. After 20-30 years there are many components of the building that need repair or replacement to maintain an acceptable standard of service, and to decrease the rising costs of ongoing operations and maintenence issues in commercial/public buildings.7Dispatch Radio Replacement This project is a critical replacement of outdated dispatch radios. $ 175,000.00 Grants have been applied for multiple years for this replacement. It is unknown if any or all of the above amount will be covered by the current grant request. Without full grant funding, the City will have to cover all or part of the upgrade at some point in the near future. 8Mobile Radio Replacement This project will replace all vehicle mounted mobile radios that will be beyond their service life, with newer P-25 compliant radios. $ 100,000.00 We still have some time to try to get grant funding for these replacements, but it is on the horizon if grant funding does not materialize.9Softball Green strip Play Equipment Replacement Project provides funds to replace an aging and obsolete children's playground located at one of the most heavily used outdoor locations. $ 85,000.00 This area is near the adult softball fields and adjacent to a large green strip with a shelter and restrooms. 10Personal Use Fishery Float ReplacementsThis project purchases ten new floats at the City Dock. There are currently 22 float sections in total for the ramp and another 8 for the front of the trestle. $ 50,000.00 This project takes appropriate steps to ensure the safety of both private citizens that utilize the Dock during the Dipnet Fishery as well as commercial fisherman that may use the Dock when putting boats in/out for the season. Replacements shall be phased over the next few years as funding may allow.Page 2 of 3 Prepared by: P. OstranderPage 62
CITY OF KENAI CAPITAL IMPROVEMENTS PROGRAM (CIP) PRIORITIESFOR STATE FUNDING REQUESTS FORSFY 2022PROJECTS IDENTIFIED AND LISTED IN PRIORITY ORDERPRIORITY NUMBERPROJECT TITLE DESCRIPTION SFY2022 STATE FUNDING REQUEST NOTES/COMMENTS11Boat Ramp Concrete Repairs This project will replace the concrete ramps at the City Dock $ 125,000.00 This project takes appropriate steps to ensure the safety of both private citizens that utilize the Ramps during the Dipnet Fishery as well as commercial fisherman that may use the Ramps when putting boats in/out for the season. The tides and weather have taken their toll over the years. This project will allow for safe continued operation of the facility.12Senior Center Greenhouse This project will place a 13-foot elongated gazebo-style heated greenhouse on a crushed rock foundation within 15 feet of the south side of the Senior Center. The greenhouse would provide indoor raised beds for individual planting as well as provide fresh vegetables for the Senior Center for home-delivered and congregate meals for senior citizens in the Kenai area. $ 38,000.00 To date $12,500 has been donated by the late Bill Osborn's family and friends to support this project to provide an opportunity for seniors in the community to participate in the increased health benefits of gardening.Page 3 of 3 Prepared by: P. OstranderPage 63
Page 64
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3182-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE AIRPORT SPECIAL REVENUE
FUND FOR THE 2021 AIRPORT SAND SCREENING PROJECT.
WHEREAS, one of the efforts to reduce operating costs on the Airfield, is to utilize the stockpiled
sand from the water runway extension project on the runway, taxiways, and apron for snow and
ice control; and,
WHEREAS, the stockpiled sand, as it is, does not meet the Federal Aviation Administration (FAA)
recommendations of Advisory Circular 150/5200-30D Airport Field condition Assessments and
Winter Operations Safety and requires screening to meet the specifications; and,
WHEREAS, the Airport will advertise to seek assistance with the screening of Airport owned sand
in compliance with FAA specifications; and,
WHEREAS, the successful contractor will be required to mobilize to the site and screen 6,000
cubic yards from the stockpile; and,
WHEREAS, this will give the Airport approximately 3-4 years of runway sand and eliminate the
truck costs to deliver sand to the Airport; and,
WHEREAS, Administration believes $50,000 is sufficient to complete the project and sufficient
funds are available within the Airport Special Revenue Fund; and,
WHEREAS, This appropriation is in the best interest of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the estimated revenues and appropriations be increased as follows:
Airport Special Revenue Fund:
Increase Estimated Revenues –
Appropriation of Fund Balance $50,000
Increase Appropriations –
Airport Operating Supplies $50,000
Page 65
Ordinance No. 3182-2021
Page 2 of 2
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 66
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Mary Bondurant, Airport Manager
DATE: January 22, 2021
SUBJECT: Ordinance No. 3182-2021 - 2021 Airport Sand Screening Project
The Airport is proposing to issue an Invitation to Bid for assistance with screening Airport stock
piled sand to use on the runway, taxiways, and aprons. The sand does not meet the FAA
specifications for use on the airfield without going through a screening process with a plant.
The Airport uses approximately 1,500 to 1,800 cubic yards a winter season. Having a Contractor
mobilize with a screening plant to screen approximately 6,000 cubic yards from the stockpile will
save substantially on the trucking and material costs.
The Airport will advertise an Invitation to Bid after the February 17, 2021 Council meeting and
bring a Resolution to Award if a successful bidder to the April 7, 2021 meeting for Council
consideration.
Thank you for your consideration.
Page 67
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3183-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE GENERAL FUND – POLICE
DEPARTMENT, AND ACCEPTING A GRANT FROM THE US DEPARTMENT OF
TRANSPORTATION PASSED THROUGH THE STATE OF ALASKA DEPARTMENT OF
TRANSPORTATION AND PUBLIC FACILITIES FOR TRAFFIC ENFORCEMENT OVERTIME
EXPENDITURES.
WHEREAS, the Kenai Police Department joins with other law enforcement agencies statewide to
support Alaska Highway Safety Office (AHSO) traffic safety programs to reduce fatalities and
injuries on roadways; and,
WHEREAS, AHSO traffic-related overtime funds require no local match and allow the Department
to provide specific traffic safety patrols; and,
WHEREAS, actual AHSO overtime expenditures for traffic safety patrols totaled $5,214.68 from
November 16, 2020 through January 1, 2021; and,
WHEREAS, overtime for these additional traffic safety patrols was not budgeted and the
department is requesting appropriation into the overtime budget equal to the amount of the AHSO
grant funding received.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the City Manager is authorized to accept these grant funds in the amount of
$5,214.68 and to expend those funds pursuant to all grant terms and conditions and to fulfill the
purpose and intent of this ordinance.
Section 2. That the estimated revenues and appropriations be increased as follows:
General Fund:
Increase Estimated Revenues –
Federal Grants - Police $5,214.68
Increase Appropriations –
Police – Overtime $5,214.68
Section 3. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
Page 68
Ordinance No. 3183-2021
Page 2 of 2
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New Text Underlined; [DELETED TEXT BRACKETED]
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 4. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 69
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: David Ross, Police Chief
DATE: January 20, 2021
SUBJECT: Ordinance No. 3183-2021, Accepting AHSO Grant Funds
The Kenai Police Department continues to participate in traffic enforcement overtime patrols,
reimbursed to the City of Kenai through a grant by the Alaska Highway Safety Office (AHSO).
Actual overtime costs for traffic enforcement between November 16, 2020 and January 1, 2021
that qualified for AHSO reimbursement, was $5,214.68.
AHSO overtime reimbursements are deposited into the general fund. I would respectfully
request consideration of the ordinance accepting and appropriating the grant amount to the
police overtime account.
Page 70
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3184-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, AMENDING KENAI
MUNICIPAL CODE 23.30.050 – BUSINESS HOURS AND HOURS OF WORK TO ALLOW FOR
ALTERNATE WORK SCHEDULES IN THE POLICE DEPARTMENT.
WHEREAS, this ordinance eliminates from KMC 23.30.050(b) the specific work schedule that is
set for Police and Communications personnel, allowing that schedule to be set or changed
administratively while maintaining the four day work week; and,
WHEREAS, KMC 23.30.050(b) currently requires “(4) shifts of 10 hours per week” as the normal
schedule, however alternate schedules may be both beneficial to the City and to the employees;
and,
WHEREAS, during a portion of the public health emergency dispatchers have worked a schedule
of (3) shifts of 12 hours and (1) shift of 4 hours per week and that shift has worked well for the
Department; and,
WHEREAS, the alternate schedule with 12 hours shifts has advantages including it is
predominately a preferred schedule for staff, it provides for less hours during the week of a
dispatcher working alone in the dispatch center without another dispatcher to assist, and it is also
not an uncommon schedule among some other dispatch centers.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. Amendment of Section 23.30.050 of the Kenai Municipal Code: That Kenai
Municipal Code, Section 23.30.050 – Business hours and hours of work, is hereby amended as
follows:
23.30.050 Business [H]Hours and [H]Hours of [W]Work.
(a) The hours during which City offices and departments shall normally be open for business
shall be 8:00 a.m. to 5:00 p.m., Police and Fire shall be open for business twenty-four (24)
hours a day. The library, Senior Center, Public Works and Animal Control operations shall be
open for business as authorized by the City Manager.
(b) Public Safety employees, not including administrators, normal work week is:
(1) Police and Communications—four (4) shifts [OF TEN (10) HOURS] per week, two
thousand eighty (2,080) hours annually. When working this shift, first and third days off
Page 71
Ordinance No. 3184-2021
Page 2 of 2
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shall be treated as Saturdays and the middle day off (the second day) shall be treated
as a Sunday for purposes of paying overtime;
(2) Employees performing fire protection activities as defined by the Fair Labor
Standards Act (FLSA) may work any FLSA approved “7(k) Work Period” approved by the
City Manager.
(c) All other employees’ normal work week is forty (40) hours, two thousand eighty (2,080)
hours annually. Standard work day is midnight to midnight succeeding. Standard work week
is midnight Sunday to midnight Sunday succeeding. Operating hours may be adjusted on
timely notice.
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
30 days after enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: March 19, 2020
Page 72
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: David Ross, Police Chief
DATE: January 20, 2021
SUBJECT: Ordinance No. 3184-2021, Amending KMC 23.30.050(b)
In KMC 23.30.050(b), the normal schedule for police and communications staff is stated as “four
(4) shifts of ten (10) hours per week”. This ordinance will remove the language that specifically
states the number of hours per day, but keeps the four day work week.
Dispatchers have been working a four-day work week schedule comprised of three 12-hour shifts
and one 4-hour shifts for the last couple months of the public health emergency, and there are
some benefits we can retain if that schedule is permitted beyond the current emergency. When
we are fully staffed, under the normal schedule of 10-hour shifts, we have about 52 hours per
week of a dispatcher working alone in the dispatch center without a partner, which is less than
optimal. When we are fully staffed under the 12-hour shift schedule, we are able to reduce the
time that a dispatcher would be scheduled to work alone down to approximately 16 hours each
week. It is also a generally preferred schedule among dispatchers.
This ordinance does not set the schedule for dispatchers, it simply allows the schedule to be
adjusted administratively within a 40-hour per week, 4-shifts per work-week schedule, rather than
being set in Code specifically as 10-hour shifts.
There is no intention to make changes to the police staff schedules at this time.
I respectfully request your consideration of this Ordinance.
Page 73
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3185-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE AIRPORT SPECIAL REVENUE
AND AIRPORT IMPROVEMENTS CAPITAL PROJECT FUNDS AND AMENDING A
PROFESSIONAL SERVICES AGREEMENT FOR THE 2021 AIRFIELD DRAINAGE
REHABILITATION PROJECT AT THE KENAI MUNICIPAL AIRPORT.
WHEREAS, HDL Engineering Consultants has completed the initial assessment for the Airfield
Drainage Project, also known as Task 5 under our current agreement with HDL; and,
WHEREAS, Ordinance 3166-2020 funded an initial assessment effort at $44,230 which included
a Purchase Order to HDL in the amount of $37,230 to perform CCTV Camera Inspection services,
$5,000 in contingency funds, and $2,000 in City administration time; and,
WHEREAS, the final condition assessment provided by HDL Engineering has identified
approximately 500lf of storm water piping that has failed and is in need of replacement; and,
WHEREAS, this Ordinance is intended to provide sufficient funds to complete the design effort
and complete the pipe replacement work; and,
WHEREAS, the total project cost is estimated to be $300,000, and will require an increase to HDL
Engineering’s Purchase Order 121702 by $84,725 for a total Purchase Order amount of
$121,955; and,
WHEREAS, the remaining funds are expected to cover construction and City Administration fees;
and,
WHEREAS, the Federal Aviation Administration (FAA) is aware of and in support of this project;
and,
WHEREAS, as this project is addressing an emergent need and was not previously included in
planning documents a grant is not yet in place at this time, however communications with the FAA
have determined the project is grant eligible and will be funded as a source becomes available.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. The City Manager is authorized to increase Purchase Order 121702 to HDL
Engineering Consultants for Professional Services in the amount of $84,725 for a total design
agreement to date of $121,955.
Section 2. That the estimated revenues and appropriations be increased as follows:
Page 74
Airport Special Revenue Fund:
Increase Estimated Revenues –
Appropriation of Fund Balance $255,770
Increase Appropriations –
Transfer to Airport Improvement Capital Project Fund $255,770
Airport Improvement Capital Project Fund:
Increase Estimated Revenues –
Transfer from Airport Special Revenue Fund $255,770
Increase Appropriations:
KMA Airfield Drainage Improvements Project –
Design $84,725
Construction $171,045
$255,770
Section 4. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 5. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
upon adoption.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 75
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: Scott Curtin
DATE: January 26, 2021
SUBJECT: Ordinance No. 3185-2021
On December 14, 2020 the City executed an agreement with HDL Engineering to investigate
and provide a condition assessment of some failing storm drains within the safety area of the
runway at the Kenai Municipal Airport. On December 15, 2020 a CCTV Contractor mobilized to
Kenai and inspected approximately 3000lf of existing storm drain. The map below indicates the
area of the inspection as well as some pipe photos from the inspection.
On January 8, 2021 the City received a formal report from HDL Engineering Consultants
indicating the results of the inspection as well as recommendations on corrective actions for the
work. Approximately 500lf of storm drain has been identified as an immediate concern for
replacement. Pipe connections are rusting and beginning to fail allowing fill from above to enter
the pipe while creating sink holes above.
The proposed project is anticipated to cost approximately $300K including Design and
Construction. Is expected to take 2-3 weeks to complete the work, which will likely take place
overnights in the spring requiring a short term shutdown of the runway, nightly, for those few
weeks. Close coordination with staff and the Federal Aviation Administration (FAA) will be
required to accomplish this.
The FAA is aware of and in support of this project. The City will front end Finance this project
from the Airport Special Revenue Fund and seek a reimbursement grant from the FAA as funds
become available. Sufficient funds are available to accomplish this.
It should be noted additional areas of the storm drain system were also found to be failing,
however these areas due to their close proximity to the runway, were determined to be a better
candidate for replacement during a future Runway Rehabilitation Project due to the potential for
damaging existing asphalt that may require repair after repairing the piping.
Completion of this project is a high priority for the Airport, and the Administration is in support of
the project. Council’s support is respectfully requested.
Page 76
Page 2 of 2
Page 77
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3186-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE GENERAL LAND SALE
PERMANENT FUND TO TRANSFER EARNINGS IN EXCESS OF BUDGETED AMOUNTS TO
THE CITY’S GENERAL FUND.
WHEREAS, Article 5, Section 5-11 of the City’s Charter, requires the proceeds from the Sale of
all City owned, non-trust lands be deposited in a separate fund, the General Land Sale Permanent
Fund, and allows for the investment earnings to be used for any lawful purpose but prohibits the
expending of the proceeds from land sales; and,
WHEREAS, the General Land Sale Permanent Fund’s 2020-year ending balance of $3,643,755
was an increase of $212,783 from the December 31, 2019 balance; and,
WHEREAS, the allowable transfer to the General Fund for operations is limited to 4% annually
and excess earnings are reserved to supplement spending when portfolio earnings are less than
the 4% limit in any given year; and,
WHEREAS, the December 30, 2020 earnings reserve balance was $692,062, thus the 2020
annual transfer is limited to $145,750 (4% of the Fund’s value); and,
WHEREAS, after deducting the FY2021 allowable transfer, the earnings reserve balance will be
$546,312; and,
WHEREAS, the FY2021 budgeted transfer from the General Land Sale Permanent Fund was
$139,523 meaning the actual will be $6,227 more than budgeted and increasing the transfer
amount to the maximum amount is in the City’s best interest.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the estimated revenues and appropriations in the General Land Sale
Permanent Fund be increased as follows:
General Land Sale Permanent Fund:
Increase Estimated Revenues –
Investment Earnings $6,227
Increase Appropriations –
Transfer to General Fund $6,227
Page 78
Ordinance No. 3186-2021
Page 2 of 2
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New Text Underlined; [DELETED TEXT BRACKETED]
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 79
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Terry Eubank, Finance Director
DATE: January 22, 2021
SUBJECT: Ordinance No. 3186-2021 – GLSPF Appropriation Increase
The purpose of this memo is to recommend passage of Ordinance 3186-2021. This Ordinance
will increase the authorized transfer amount from the General Land Sale (GLSPF) to the City’s
General Fund for FY21. This increased amount is possible because earnings were higher than
projected for calendar year 2020.
GLSPF
Pursuant to KMC 7.30.020 (a) (5) the annual transfer from the GLSPF shall be limited to the lesser
of the cumulative earnings at calendar year end for the fund or four percent (4%) of the fund’s fair
market value as of December 31st of each year. “Cumulative earnings” is defined as the market
value at calendar year end minus the fund’s inflation adjusted principal balance.
The December 31, 2020 market value of the GLSPF was $3,643,755 with cumulative earnings of
$692,062.
December 31, 2020
Portfolio Value $3,643,755
4% of Portfolio Value $145,750
Cumulative Earnings $692,062
FY20 Allowable Transfer $145,750
The FY21 budgeted transfer amount was $139,523. This Ordinance will increase the budgeted
transfer amount to the maximum value of $145,750, an increase of $6,227.
Your support for Ordinance 3186-2021 is respectfully requested.
Page 80
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3187-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE AIRPORT LAND SALE
PERMANENT FUND TO TRANSFER EARNINGS IN EXCESS OF BUDGETED AMOUNTS TO
THE CITY’S AIRPORT FUND.
WHEREAS, section 7.30.010 of the Kenai Municipal Code (KMC) established a fund to account
for the proceeds from sale of land deeded to the City by the US Government for benefit of the
Kenai Municipal Airport; and,
WHEREAS, KMC 7.30.020(a)(4) provides for appropriations from the Airport Land Sale
Permanent Fund be limited to 3.8% or 4.2% of the fund’s five-year, December 31st fair market
value; and,
WHEREAS, 3.8% of the average five-year December 31st value, may be transferred if the fund’s
year end value is below the fund’s inflation adjusted value; and,
WHEREAS, 4.2% of the average five-year December 31st value, may be transferred if the fund’s
year end value exceeds the fund’s inflation adjusted value; and,
WHEREAS, the Airport Land Sale Permanent Fund’s 2020-year ending balance was $28,632,059
and the five-year average market value was $25,524,254 and is below the inflation adjusted
principal balance of $26,531,145 thus limiting the allowable transfer to the lower bound of
spending rate (3.8%) or $969,922; and,
WHEREAS, the FY2021 budgeted transfer from the Airport Land Sale Permanent Fund was
$955,050 meaning the actual will be $14,872 more than budgeted and increasing the transfer
amount to the maximum amount is in the City’s best interest.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the estimated revenues and appropriations in the Airport Land Sale
Permanent Fund be increased as follows:
Airport Land Sale Permanent Fund:
Increase Estimated Revenues –
Investment Earnings $14,872
Increase Appropriations –
Transfer to Airport Fund $14,872
Page 81
Ordinance No. 3187-2021
Page 2 of 2
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New Text Underlined; [DELETED TEXT BRACKETED]
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 82
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Terry Eubank, Finance Director
DATE: January 22, 2021
SUBJECT: Ordinance No. 3187-2021 – ALSPF Appropriation Increase
The purpose of this memo is to recommend passage of Ordinance 3187-2021. This Ordinance
will increase the authorized transfer amount from the Airport Land Sale (ALSPF) to the City’s
Airport Fund for FY21. This increased amount is possible because earnings were higher than
projected for calendar year 2020.
ALSPF
Pursuant to KMC 7.30.020 (a) (4) the annual transfer from the ALSPF will be based upon the five
(5) year average of the fund’s calendar year end market value. An amount not to exceed three
and four-fifths percent (3.8%) of the five (5) year average market value may be distributed if the
average market value is less than the fund’s inflation adjusted principal balance. An amount not
to exceed four and one-fifth percent (4.2%) of the five (5) year average market value may be
distributed if the average market value is greater than the fund’s inflation adjusted principal
balance.
The December 31, 2020 5 year-average market value of the portfolio ($25,524,254) was below
the inflation adjusted principal ($26,531,145), thus the allowable transfer is limited to the lower
bound of the spending rate (3.8%). The 2020 allowable transfer based upon this calculation is
$969,922.
The FY21 budgeted transfer amount was $955,050. This Ordinance will increase the budgeted
transfer amount to the maximum value of $969,922, an increase of $14,872.
Your support for Ordinance 3187-2021 is respectfully requested.
Page 83
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3188-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE WATER AND SEWER SPECIAL
REVENUE AND WASTEWATER TREATMENT PLANT IMPROVEMENTS CAPITAL PROJECT
FUNDS FOR A REPLACEMENT SLUDGE PRESS.
WHEREAS, HDL Engineering Consultants successfully concluded our RFP process in the spring
of 2020, and quickly began work on assessing the City’s Waste Water Treatment Facility; and,
WHEREAS, the two highest priority items identified within HDL’s assessment was the
replacement of the existing Wasting Activated Sludge (WAS) Pumps, which is nearing completion
now, and the replacement of the 40 year old sludge press; and,
WHEREAS, prior to getting HDL Engineering Consultants under contract, $500,000 was included
in the FY2020 budget toward this project; and,
WHEREAS, after development of the project concepts and gaining a greater understanding of
additional appropriate efforts that should take place during this work, items like control panel
replacement, and polymer injection equipment replacement, the intent of this ordinance is to
appropriate additional funds to allow the project to continue forward; and,
WHEREAS, the current anticipated budget for this work is now $1,200,000 based on current
estimates; and,
WHEREAS, to date the current design agreement with HDL for this work totals $169,125 and was
approved under Resolution 2020-95; and,
WHEREAS, staff in coordination with the engineers intend to issue and evaluate through the
Request for Proposal (RFP) process equipment offerings from various manufacturers and upon
evaluation issue a contract award to the supplier offering the greatest value to the City on a new
sludge press and associated equipment; and
WHEREAS, this procurement will allow the six month production time for the new equipment to
take place while final design documents are being completed on the actual equipment to be
installed; and
WHEREAS, this will save the City on contractor markup on roughly $450K worth of equipment
while allowing the equipment to arrive in Alaska faster as well as minimize exposure on change
orders as the design documents will reflect the specific equipment being installed and not a
generalization towards multiple potential manufacturers; and
WHEREAS, enactment of this Ordinance is in the City’s best interest.
Page 84
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the estimated revenues and appropriations be increased as follows:
Water and Sewer Special Revenue Fund:
Increase Estimated Revenues – $700,000
Increase Appropriations:
Transfer to Wastewater Treatment Plant
Improvement Capital Project Fund $700,000
Section 2. That the estimated revenues and appropriations be increased as follows:
Wastewater Treatment Plant Improvement Capital Project Fund:
Increase Estimated Revenues –
Transfer from Water & Sewer Fund $700,000
Increase Appropriations:
Construction $700,000
Section 3. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 4. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
upon adoption.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 85
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: Scott Curtin, Public Works Director
DATE: January 26, 2021
SUBJECT: Ordinance No. 3188-2021
Council approved Resolution 2020-95 at the December 16, 2020 Council meeting which
authorized a professional services agreement to HDL Engineering to provide bid ready
construction documents for a replacement sludge press at the City’s Waste Water Facility.
This agreement, in the amount of $169,125, was paid for from the $500,000 in funding provided
during the FY20 Budget. HDL Engineering, in coordination with City staff and their sub-
consultants, have determined the production lead times on this equipment is extensive, estimated
to be approximately six months from date of order to delivery.
As such the team is working on documents to select a new sludge press during a competitive
RFP process where the City will select and purchase a new sludge press and associated
components directly from the manufacturers / distributor as the case may be. This is slightly
different than a normal design, bid, build type of procurement process.
This ordinance is being introduced now, to ensure sufficient funds are available to award the
purchase of this equipment by the City and also to inform Council of what the likely overall
magnitude of the project is anticipated to be. Finance requires sufficient funds are available prior
to the release of solicitations. This ordinance is to meet that requirement.
Current project estimate has the design phase at $169,125, equipment purchases approximately
$480,000, and the remainder of roughly $550,000 for construction, construction administration
and City administration. At the completion of the design phase a more detailed cost estimate will
be provided by the design team and if needed, may result in coming back to Council to confirm
any changes to assumed project costs prior to going out for construction contractor bids.
This project is the highest priority item at the Waste W ater Facility to be completed next.
Replacement will allow staff to continue to meet Federal and State regulated requirements. The
administration is in support of the project.
Council’s support is respectfully requested.
Page 86
Page 2 of 2
Example of new screw press
Existing 40 year old belt press
Page 87
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3189-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE GENERAL FUND AND THE
PUBLIC SAFETY CAPITAL PROJECT FUND TO PROVIDE SUPPLEMENTAL FUNDING TO
THE FIRE DEPARTMENT’S STATION ALERTING PROJECT AND AUTHORIZING A
PURCHASE ORDER IN EXCESS OF $15,000 TO KACHEMAK ELECTRIC FOR
PERFORMANCE OF THE WORK.
WHEREAS, the City of Kenai received a grant from the State of Alaska Homeland Security
Program for $473,000 (Ordinance 3093-2019); and,
WHEREAS, $45,000 of that grant was designated to install Fire Station Alerting equipment at the
Airport Fire Station; and,
WHEREAS, equipment was purchased through US Digital Design totaling $31,090.56 and
installation by Kachemak Electric Co. Inc. cost $14,854; and,
WHEREAS, after installation of the project was completed, there were functionalities of the
system that were identified requiring additional installation to complete including: interface with
Dispatch to control doors and crash phone interface with the Airport Control Tower; and,
WHEREAS; labor and materials to complete this work total $2,532 as submitted by Kachemak
Electric Co.; and,
WHEREAS; an additional $2,476.56 is requested to complete this project; and,
WHEREAS; it is in the best interest of the City of Kenai and the Fire Department to complete this
work and maintain operational readiness and integration of the Fire Station Alerting System.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the estimated revenues and appropriations be increased as follows:
General Fund:
Increase Estimated Revenues –
Appropriation of Fund Balance $2,476.56
Increase Appropriations –
Transfer to Public Safety Capital Projects Fund $2,476.56
Page 88
Ordinance No. 3189-2020
Page 2 of 2
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Section 2. That the estimated revenues and appropriations be increased as follows:
Public Safety Capital Project Fund:
Increase Estimated Revenues –
Transfer from General Fund $2,476.56
Increase Appropriations –
Professional Services $2,476.56
Section 3. That the City Manager is authorized to execute a change order to the purchase
order issued to Kachemak Electric in the amount of $2,532 bringing the adjusted change order
amount to $17,386.
Section 4. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 5. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 89
MEMORANDUM
TO: Mayor Gabriel and Council Members
THROUGH: Paul Ostrander, City Manager
FROM: Tony Prior, Fire Chief
DATE: January 27, 2021
SUBJECT: Ordinance 3189-2021
The City of Kenai was awarded grant funding from the State of Alaska Homeland Security
Program (Ordinance 3093-2019), and $45,000 of the grant was specified to install G2 Fire Station
Alerting equipment at the Airport Station. Station 1 already has the G2 Fire Station Alerting
equipment installed and operational from a joint grant with the Kenai Peninsula Borough. We
contracted with Kachemak Electric Co. Inc to install the equipment as they are the only authorized
electrical company to install this equipment. Upon completion of installation by Kachemak Electric
we identified a few key items that could be added to the project to enhance the system.
First, the G2 Station Alerting System has the ability to have our Dispatch Center control the
opening and closing of bay doors at the Airport Fire Station. The components needed for this
particular operation of the G2 Station Alerting is already purchased and would only require a small
amount of wiring and installation time. The opening of the doors can be programmed into the alert
notification and automatically open the doors to speed up response times for airport emergencies.
With the strict requirements of a three (3) minute response time from FAA, this would assist to
ensure no delays in response of apparatus.
Second, the speaker system at the Airport Station is directly tied to the Airport Control Tower’s
“RED PHONE”, which broadcasts as a PA when they talk directly to our Dispatch Center. They
use this to notify us of an ALERT (Aircraft Emergency). The current system is very scratchy and
sometimes inaudible by fire personnel. We have identified an option to tie that Red Phone into
the G2 Station Alerting Speakers for a clear and loud notification of an Aircraft Emergency.
Third, tying the outside speakers into the Alerting System. When personnel are outside of the
station they may not be able to hear an emergency tone without a portable radio. We can tie the
exterior speakers at the station to the Alerting System, improving notification in all areas in and
around the station.
I respectfully request the addition of $2,476.56 to the Public Safety Capital Project Fund and the
increase of the Purchase Order to Kachemak Electric to complete the aforementioned work.
Page 90
Sponsored by: Administration
CITY OF KENAI
ORDINANCE NO. 3190-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE GENERAL FUND TO PROVIDE A
GRANT DISBURSEMENT PROGRAM FOR SMALL BUSINESSES THAT DID NOT
PREVIOUSLY APPLY FOR FULL ASSISTANCE FROM THE CITY IN 2020.
WHEREAS, on April 9, 2020 President Donald J. Trump approved a Disaster Declaration for the
State of Alaska; and,
WHEREAS, on May 20, 2020, the City Council enacted Ordinance 3130-2020 accepting Federal
CARES ACT funding passed through the State of Alaska for expenditures in response to the
COVID-19 Public Health Emergency; and,
WHEREAS, on June 3, 2020, the City Council passed Resolution 2020-39, approving a
$3,000,000 Grant Disbursement Program for Small Businesses and Non-Profit Organizations
Utilizing Funds from the CARES Act with an application period of June 4, 2020 to June 19, 2020;
and,
WHEREAS, on July 1, 2020, the Council amended the Grant Disbursement Program to re-open
the application period from July 10, 2020 to July 17, 2020 to allow additional businesses and non-
profits impacted by the COVID-19 pandemic to seek relief without materially affecting available
future funding; and,
WHEREAS, on September 2, 2020, the Council amended the Grant Disbursement Program to
provide a second round of grants, with an application period of October 1, 2020 to October 30,
2020 that increased the amount available to City of Kenai businesses so that the total of the City
grants equaled the size of the business grants offered by the Kenai Peninsula Borough to borough
businesses located outside of the City limits; and,
WHEREAS, Administration has reached out to numerous businesses that did not apply during
one or all of the grant application periods to determine why they did not apply, with the primary
reasons given being that their business was faring well at the time, they felt the funds should go
to other businesses that had a greater need, and in some cases missing the opportunity to apply;
and,
WHEREAS, the magnitude and length of the COVID-19 pandemic is still unknown, and its
associated negative impacts to our economy are still creating uncertainty for local businesses;
and,
Page 91
Ordinance No. 3190-2021
Page 2 of 2
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
WHEREAS, providing businesses that previously did not receive full assistance through the City’s
2020 programs an opportunity to apply for those programs will benefit businesses that previously
did not have a need, or missed the grant opportunities for some other reason; and,
WHEREAS, the success of the City is dependent upon the success of the local economy and its
businesses and providing an opportunity for local businesses that previously did not apply for full
assistance to apply for our grant disbursement program is in the best interest of the City and its
residents.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the grant disbursement program for small businesses that did not previously
apply for full assistance from the City in 2020 is approved as attached or modified in similar form.
Section 2. That the estimated revenues and appropriations be increased as follows:
General Fund:
Increase Estimated Revenues –
Appropriation of Fund Balance $200,000
Increase Appropriations – Non-Departmental
Grants to Others $200,000
$200,000
Section 3. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 4. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
immediately upon enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2021.
ATTEST: BRIAN GABRIEL SR., MAYOR
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: __ _______________
Introduced: February 3, 2021
Enacted: February 17, 2021
Effective: February 17, 2021
Page 92
MEMORANDUM
TO: Mayor Gabriel and Council Members
FROM: Paul Ostrander, City Manager
DATE: January 27, 2021
SUBJECT: Ordinance 3190-2021 – Providing a Grant Opportunity for Businesses
That Did Not Previously Apply For Full Assistance
Since COVID-19 began impacting the daily lives of our residents in March of 2020, the
administration has worked diligently to identify areas of need in the community and recommend
ways in which the City could help meet those needs. When Federal CARES Act funding was
made available through the State, and later, when additional funding was provided through the
Kenai Peninsula Borough, it was clear that utilizing a portion of these funds to support our
business community was going to be essential to offset the negative economic impacts of the
pandemic.
City Council approved a first round of grants that included small businesses and non-profit entities
for the period of June 4-19, 2020, and re-opened the first round for an additional period of July
10-17, 2020. Council then authorized a second round of grants for small businesses for the period
of October 1-30, 2020. Depending on the business’ total gross sales, Kenai businesses were
eligible for up to $35,000 in grants from the City through these programs.
Since the last grant program’s closure on October 30, 2020, multiple businesses have
communicated with the administration that they did not apply for one or either round of grants.
Some businesses indicated that they only applied for the first round of grants based on need at
the time. The reasons these businesses did not apply for full assistance varies, but as the
pandemic drags on into 2021 and our local economy continues to suffer, providing these
businesses another opportunity to apply for grants they would have qualified for under the City’s
Relief and Recovery grant programs is appropriate.
Ordinance 3190-2021 provides additional grant funds where they are needed to businesses in
our community without providing grants in excess of what other City businesses received or what
was offered to Kenai Peninsula Borough businesses outside of the City limits.
Your consideration is appreciated.
Page 93
Small Business Grant
Small Business Grant Program
The City is offering an additional grant
opprtunity for small businesses that did not
previously apply for the maximum amount of
grant funding they were eligible to recieve
from the City through its Relief and Recovery
grant programs in 2020. The total grant funds
available for each eligible business in the City
of Kenai is equal to the size of the grants
offered by the Kenai Peninsula Borough to
businesses located outside of City limits.
The minimum revenues a business needs to
be eligible to receive a grant is $20,000,
consistent with the Borough's program.
Businesses that received grants in Round 1
but did not apply for Round 2 of the City
program will need to reapply for this program
— the application form will request additional
information. Businesses that did not apply in
Round 1 or Round 2 will be eligible to apply
for this program to receive the maximum grant
amount.
The City will begin accepting applications on
February 22, 2021 and the application period
will close on March 22, 2021.
The grant categories will be divided into five
levels based on each business' 2019 total gross
sales for four quarters as reported on their tax
returns to the Borough.
These amounts are the maximum a qualifying
business was eligible to receive rom the City
through its Relief and Recovery Grant Program
in 2020 in Round 1 and Round 2:
Up to $1,750 for businesses with 2019
revenues of $20,000 to $50,000
Up to $3,500 for businesses with 2019
revenues of $50,000 to $100,000
Up to $8,750 for businesses with 2019
revenues of $100,000 to $250,000
Up to $17,500 for businesses with 2019
revenues of $250,000 to $500,000
Up to $35,000 for businesses with 2019
revenues of over $500,000
Similar to Round 1 and Round 2 of the City's
Relief and Recovery Grant Program, a business
must have been in existence as of January 1,
2020, to qualify. That would not exclude an
existing business with a state license, and that
has previously filed tax returns with the
Borough even though it may have reported no
operations in January 2020 (such as a seasonal
business).
(continued on next page)
$20K - $50K
$50K - $100K
$100K - $250K
$250K - $500K
>$500K
Business
Revenues
Round 1 Grant
Amount
Total Grant
Amounts
Round 2 Grant
Amount
$3,750
$10,000
$25,000
$1,000 | $750 $1,750
$3,500
$8,750
$17,500
$35,000$10,000
$7,500
$5,000
$2,500 | $1,000
The City is offering a grant for small businesses that did not previously apply for the
maximum amount of grant funding they were eligible to recieve in Round 1 and Round 2:
Page 94
Small Business Grant
For purposes of determining eligibility for a new
business without a full year’s tax returns for 2019,
the City would take gross sales reported for any
quarters in 2019 and the first quarter 2020 and
extrapolate the numbers to estimate a full year’s
sales for the business.
Businesses that are not required to file sales tax
returns with the Borough must provide a copy of
their most recent federal income tax return or
other proof of revenues as deemed suitable by
the City review committee to determine the level
of grant award they might qualify to receive.
The amount of the grant for businesses with
locations inside and outside the City will be based
solely on their revenues from the business
location within the City of Kenai.
The business must be located within the City of
Kenai, with a valid state business license and be
current in its sales tax registration with the Kenai
Peninsula Borough. That could be an office,
warehouse, shop or other premise owned, leased
or rented and operated by the applicant. The
business owner(s) does not have to be a resident
of the City of Kenai.
Businesses sharing physical quarters may each
apply and qualify for their own grant, so long as
each business has its own state license, files a
sales tax return under its own name and does not
share the same ownership with the other co-
located businesses. Such so-located businesses
under the same owner will be eligible for one
grant.
Businesses that have applied for or have obtained
any other state or federal COVID-19-related
assistance are not necessarily disqualified from
the City program.
06
The program will exclude from eligibility the
same list of businesses excluded in the
previous program, including:
C Corporations traded on a U.S. stock
exchange or a corporate-equivalent entity
traded on a foreign stock exchange, and
businesses owned in whole or majority-
owned by such a publicly traded
corporation
National chains that own and operate their
premises in Kenai; franchise owned-and-
operated businesses in Kenai would be
eligible
Businesses with a City lien or are in
violation of a payment agreement with the
City
Businesses with a Borough lien for unpaid
sales taxes. A sales tax delinquency
would not disqualify a business from the
grant program unless the Borough has
initiated a lien on that debt. Businesses
that have entered into a payment plan
with the Borough and are adhering to that
plan would be eligible for the grant, so
long as the lien has been lifted
Applicants will be required to certify that they
have been affected by the COVID-19 public
health emergency and resulting economic
impacts. Because the grants in Round 2 were
significantly larger than in Round 1, the City
will ask for additional information of applicants
for this program as well. This includes
information on economic hardship suffered by
the business, either lost revenue or additional
costs of operations; and information on other
similar financial assistance received from the
Borough or other cities on the Kenai
Peninsula.
If the demand for grants for this program
exceeds the City’s available funds, the City
reserves the right to prorate the grants to
stay within available funding.
Page 95
Sponsored by: Mayor Gabriel
CITY OF KENAI
ORDINANCE NO. 3191-2021
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE GENERAL FUND TO PROVIDE
ASSISTANCE TO KENAI RESIDENTS IMPACTED BY THE COVID-19 PUBLIC HEALTH
EMERGENCY WITH THE PURCHASE OF GROCERIES AND NECESSARY HOUSEHOLD
GOODS IN KENAI AND AWARD A PROFESSIONAL SERVICE AGREEMENT TO THE KENAI
CHAMBER OF COMMERCE AND VISITORS CENTER FOR ADMINISTRATION OF THE
PROGRAM.
WHEREAS, the COVID-19 Public Health Emergency has significantly impacted many Kenai
residents through lost income and or increased expenses; and,
WHEREAS, the Kenai Peninsula Food Bank of Alaska reports that before the Public Health
Emergency, it distributed food to approximately 60 people from its Kenai food distribution site,
and during this Public Health Emergency, distribution peaked at about 275 food boxes per week
and continues to serve around 200 a week in Kenai; and,
WHEREAS, the Food Bank further provides that it can distribute 300 food boxes in Kenai, when
available, in less than an hour and that its meal program at the Food Bank, which serves Kenai
residents and others, served around 30 to 40 meals a day previously, but now consistently serves
over twice that, peaking at around 200 meals per day; and,
WHEREAS, other data similarly shows an increase in financial hardship for residents in the City,
with more residents behind on City water and sewer accounts now than prior to the Public Health
Emergency and Homer Electric Association reports that it has a number of members in Kenai and
other areas that have signed SB-241 Agreements indicating they are experiencing financial
hardship due to the Public Health Emergency; and,
WHEREAS, while the City, in response to the Public Health Emergency, has previously provided
funding to the Food Bank for free food distribution programs, through Alaska Housing Finance
Corporation (AHFC) for mortgage and rental assistance, direct funding through Relief and
Recovery grants to local businesses and nonprofits, and a Shop Local program encouraging
shopping at small businesses selling discretionary items, this program is specifically intended to
help impacted residents double the amount of food or necessary household goods they are able
to purchase in Kenai to secure more groceries and necessary household items; and,
WHEREAS, the program may help many of the same individuals assisted by other City programs,
and even some of the same businesses, but will also assist many residents not previously
assisted by the City through its Public Health Emergency response; and,
WHEREAS, the program will be funded up to $200,000 plus an administrative fee and be
administered by the Kenai Chamber of Commerce and Visitor Center, Inc. and will provide
Page 96
Ordinance No. 3191-2021
Page 2 of 3
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
vouchers to local participating retail businesses selling groceries and necessary household goods
in increments of $100 up to a total of $200 per resident who self certifies that they have been
financially impacted by COVID-19 and who turns in receipts for groceries or necessary household
goods up to $200 from Kenai retail businesses in the months of March and April; and,
WHEREAS, in 2020, the City distributed CARES Act funds from the Federal Government passed
through the State of Alaska in response to and to aid in the recovery from the COVID-19 Public
Health Emergency and allocated funds to support a number of programs identified to best provide
needed aid; and,
WHEREAS, because initial federal CARES Act guidance required funds to be spent prior to
December 31, 2020, or be returned to the Federal Treasury, some of the CARES Act funds
originally allocated for other purposes but unspent late in 2020 was used by the City just prior to
the deadline as allowed by the Act, for first responder payroll; and,
WHEREAS, these funds remain available in the General Fund if further assistance is necessary
to support residents and businesses that continue to be impacted by the COVID-19 pandemic;
and,
WHEREAS, the funding for this program can be attributed to some of the CARES Act funds the
City had originally allocated to use for direct assistance to businesses, nonprofits, and Kenai
residents; and,
WHEREAS, the City continues to identify a need to provide economic recovery from the COVID-
19 Public Health Emergency, and this program meets an identified need and is in the best
interests of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
as follows:
Section 1. That the City Manager is authorized to establish a program up to $200,000 to
provide Kenai residents who self-certify that they have been financially impacted by the COVID-
19 Public Health Emergency, vouchers in $100 increments up to $200, to use at local retail
establishments selling groceries or necessary household goods, upon submission of receipts from
similar retail establishments on a dollar for dollar basis.
Section 1. That the City Manager is authorized to execute a professional service agreement
with the Kenai Chamber of Commerce and Visitor Center, Inc. for administration of the program
for a total cost not to exceed $15,000 including up to $10,000 to promote the program and up to
$5,000 for program administrative support.
Section 1. That estimated revenues and appropriation be increased as follows:
General Fund:
Increase Estimated Revenues –
Appropriation of Fund Balance $215,000
Increase Appropriations – Non-Departmental
Professional Services $ 15,000
Page 97
Ordinance No. 3191-2021
Page 2 of 3
_____________________________________________________________________________________
New Text Underlined; [DELETED TEXT BRACKETED]
Grants to Others 200,000
$215,000
Section 2. Severability: That if any part or provision of this ordinance or application thereof to
any person or circumstances is adjudged invalid by any court of competent jurisdiction, such
judgment shall be confined in its operation to the part, provision, or application directly involved
in all controversy in which this judgment shall have been rendered, and shall not affect or impair
the validity of the remainder of this title or application thereof to other persons or circumstances.
The City Council hereby declares that it would have enacted the remainder of this ordinance even
without such part, provision, or application.
Section 3. Effective Date: That pursuant to KMC 1.15.070(f), this ordinance shall take effect
30 days after enactment.
ENACTED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 17th day of February,
2020.
BRIAN GABRIEL SR., MAYOR
ATTEST:
___________________________________
Jamie Heinz, CMC, City Clerk
Approved by Finance: _________
Introduced: February 17, 2020
Enacted: February 17, 2020
Effective: February 17, 2020
Page 98
MEMORANDUM
TO: Council Members
FROM: Mayor Gabriel
DATE: January 28, 2021
SUBJECT: Ordinance 3191-2021 Grocery and Necessary Household Goods
Ordinance 3191-2021 is intended to help Kenai residents impacted by the COVID-19 Public
Health Emergency stretch their dollars at local grocery retailers for groceries and other necessary
household goods. The program provides residents who self-certify that they have been financially
impacted by the COVID-19 Public Health Emergency up to $200 in vouchers in increments of
$100 at local grocery retailers for residents who spend $100 or $200 at local grocery retailers and
provide receipts. The program is funded at $200,000, which would allow 1,000 residents to
participate if individuals provided $200 in receipts each, and more if some provide $100.
While the funds for this program would come from the General Fund, they can be traced back to
CARES Act funding. Because initial federal CARES Act guidance required funds to be spent prior
to December 31, 2020, or be returned to the Federal Treasury, some of the CARES Act funds
originally allocated for other purposes but unspent late in 2020 were used by the City just prior to
the deadline as allowed by the Act, for first responder payroll. These funds remain available in
the General Fund if further assistance is necessary to support residents and businesses that
continue to be impacted by the COVID-19 pandemic.
While the City has already provided funding to the Food Bank for free food distribution programs,
through Alaska Housing Finance Corporation for mortgage and rental assistance, direct funding
through Relief and Recovery grants to local businesses and nonprofits, and a Shop Local program
encouraging shopping at small businesses selling discretionary items, this program, administered
through the Kenai Chamber of Commerce and Visitor Center directly benefits Kenai residents
impacted by the Public Health Emergency double their money for groceries and necessary
household goods.
Data from the Food Bank, City Water and Sewer Fund, and HEA indicate there is a need for this
program in the community. While the primary effect is to help families and individuals, this program
will have a secondary effect of helping local grocery retailers by encouraging shopping for
groceries and necessary household items in Kenai. The program is designed to be open to all
businesses in Kenai selling groceries that are agreeable to participating in a voucher program
with the City and Chamber to enable residents flexibility in their preferred shopping. In order to
ease administration of the program, receipts and vouchers will not be limited to specific
Page 99
Page 2 of 2
purchases, but instead the participating stores that sell the groceries and necessary household
items.
Your consideration is appreciated.
Page 100
Kenai Grocery and Necessary Household Goods Program
Budget: $200,000
Purpose: To help Kenai residents financially impacted by the COVID-19 Public Health
Emergency double their money for the purchase of groceries and necessary household goods
Dates: March 1 – April 30, 2021
Program Description: Kenai Residents who self-certify that they have been financially
impacted by the COVID-19 Public Health Emergency will receive vouchers in increments of
$100, up to $200, after providing receipts from stores selling groceries and necessary
household goods. Vouchers will be issued on a first-come, first-serve basis, concluding on April
30, or when funds run out. Vouchers must be spent by May 31, 2021. Voucher’s will be issued
to a Kenai store selling groceries and necessary household items of the resident’s choice that
are participating in the program and located in Kenai.
Definitions:
• Stores Selling Grocery and Necessary Household Items include Kenai Walmart, Kenai
Safeway, IGA, Three Bears, and Maggie’s General Store. Financially Impacted by the
COVID-19 Public Health Emergency means, a person has lost income, or experienced
increased personal expenses due to impacts from the COVID-19 public Health
Emergency.
Participant Rules:
• Individuals must submit up to 10 receipts totaling at least $200 via an online form or
bring them into the Kenai Chamber of Commerce and Visitor Center.
• Submitted receipts must be from a store selling grocery and necessary household items
located within the Kenai City limits. The receipts must be accompanied by a self-
certification form certifying that the individual submitting receipts has been financially
impacted by the COVID-19 Public Health Emergency.
• Receipts must be readable. The date, name of the business, and the full total must be
included. Receipts must be dated between March 1, 2021 and April 30, 2021.
• Online orders do not qualify for expenditures.
• After submitting receipts, individuals choose a participating store selling grocery and
necessary household items they would like to receive up to two $100 shopping
voucher(s) from by selecting them from the available list. If there is any problem
validating your receipts, you will be contacted by email and asked to clarify or submit
additional receipts to reach the $100 or $200 increment.
• Vouchers will be mailed to the address provided within two – four business days of
receiving the submitted form or receipts. Individuals may also choose to pick up their
vouchers in person.
Participating Business Rules:
• Voucher merchants must be a store selling groceries and necessary household items
located within the Kenai City limits.
• The business must have been in existence with a valid State of Alaska business license
as of January 1, 2021.
• Must be current in sales tax registration with the Kenai Peninsula Borough and not be
delinquent with the Kenai Peninsula Borough Tax Department.
Page 101
Additional Details:
• Payments for vouchers submitted by participating businesses to the Kenai Chamber of
Commerce and Visitors Center will be made weekly to participating businesses.
• New businesses will be able to sign up on to the program at any time, provided they
meet the criteria.
Page 102
Professional Services Agreement Last Revised January 2014
CITY OF KENAI
AGREEMENT BETWEEN OWNER AND SERVICE PROVIDER
FOR KENAI GROCERY AND Necessary household goods PROGRAM TO BENEFIT
KENAI RESIDENTS
MADE AS OF THE ______ DAY OF _______________________ 2021.
BETWEEN the OWNER: CITY OF KENAI
210 Fidalgo Avenue
Kenai, Alaska 99611
AND the SERVICE PROVIDER: Kenai Chamber of Commerce and Visitor Center, Inc.
11471 Kenai Spur Highway
Kenai, AK 99611
FOR the PROJECT: Grocery and Necessary Household Goods Voucher Program
The Owner and Service Provider agree as set forth below.
ARTICLE 1
THE WORK
The Service Provider shall perform all the work described in the Grocery and Necessary Household Goods
Program as Attachment "A" hereto, including but not limited to:
1. Basic Services, as described in the Program Description.
ARTICLE 2
TIME OF COMMENCEMENT AND COMPLETION
The Service Provider’s performance of services required by this AGREEMENT shall commence on March
1, 2021 (date) and terminate on April 30, 2021.
ARTICLE 3
COMPENSATION
The Owner shall compensate the Service Provider for actual administrative as follows:
Administrative Costs not to exceed $15,000 including up to $10,000 to promote the program and up to
$5,000 for program administration and support.
And fund the program through the Service Provider for up to $200,000
ARTICLE 4
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Professional Services Agreement Last Revised January 2014
ENUMERATION OF CONTRACT DOCUMENTS
The documents which are specifically incorporated into this AGREEMENT by reference and form the
contract documents are listed below. Should any provision or requirement of one portion of the contract
documents conflict with any other portion of the contract documents, unless otherwise provided herein, the
conflict will be resolved by reference to the contract documents in the following order of priority:
A. Any and all later modifications, Change Orders, and written interpretations of the Contract
Documents issued by the Owner
B. This AGREEMENT
Any other attachments to this AGREEMENT do not form a part of the AGREEMENT but are for reference
or proof of compliance with the requirements of the AGREEMENT, except where the provisions of this
AGREEMENT provide such attachments will be or are a part of the AGREEMENT.
These form the contract and what is required by any of the documents shall be as binding as if required by
all. The intention of the contract documents is to require the furnishing of all labor, material, equipment, and
other items necessary for the proper execution and completion of the program and to prescribe the terms
and conditions of the contract and payment, so as to include work and materials which may be necessary
to produce the intended results.
ARTICLE 5
INSURANCE
A. Service Provider shall, at Service Provider’s own expense, secure and maintain the following insurance:
i. comprehensive general liability insurance, including premises, all operations, property
damage, personal injury and death, broad-form contractual coverage with a per
occurrence lim it of not less than $1,000,000 combined single limit;
ii. worker's compensation insurance with coverage for all employees engaged in work under
this Agreement as required by AS 23.30.045 (Service Provider is responsible for worker's
compensation insurance for any subService Provider who directly or indirectly provides
services under the Agreement); and,
iii. comprehensive automobile liability insurance covering all owned, hired, and non-owned
vehicles with coverage limits not less than $1,000,000 combined single limit per
occurrence.
Where specific limits are stated, the limits are the minimum acceptable limits. If Service Provider’s
insurance policy contains higher limits, Owner is entitled to coverage to the extent of the higher limits.
B. All insurance required by this Section shall meet the following additional requirements:
i. for comprehensive general liability and automobile liability insurance, name the City of
Kenai as an additional insured;
ii. for worker’s compensation insurance, general liability, and automobile liability insurance,
where possible, include a waiver of subrogation so that the insurer waives all rights of
subrogation against the City of Kenai for payments made under the policy;
iii. provide Owner with at least 30 days’ notice before any termination, cancellation,
or material change in insurance coverage is effective; and,
Page 104
Professional Services Agreement Last Revised January 2014
iv. be issued by a company/corporation currently rated “A-” or better by A.M. Best.
C. Service Provider shall submit to Owner proof of insurance coverage in the form of
insurance policies, certificates, endorsements, or a combination thereof, and signed by a person authorized
by the insurer to bind coverage on its behalf. The effective date of the insurance will be no later than the
first day of the term of this Agreement.
D. The indemnification and insurance coverage requirements stated in this Section and in
Section 6 below do not relieve Service Provider of any other obligation under this Agreement.
Owner may increase the amount or revise the type of required insurance upon written demand without
requiring amendments to this Agreement. Owner will base any increase or revision upon reasonable and
justifiable grounds. Within two weeks of the written demand, Service Provider shall submit to Owner
evidence of insurance coverage that meets the requirements of Owner.
ARTICLE 6
Indemnity, Defend, and Hold Harmless
Service Provider shall indemnify, defend, and hold harmless Owner and its agents, employees, and/or
insurers from claim, loss, damage, liability, including injury and death or expense in any way related to any
act or omission of Service Provider or Service Provider’s employees, agents, or invitees arising out of
Service Provider’s performance of services under this Agreement, except to the extent any negligence of
Owner or its employees or agents is a proximate cause of any injury or damage. If a third party asserts a
claim against Service Provider and Owner, Service Provider and Owner shall seek in good faith to achieve
Agreement to an apportionment of fault as between them without an independent of litigation. This
provision shall survive expiration or termination of this Agreement.
ARTICLE 7
All legal notices relating to this contract, including change of address, shall be mailed to the Owner and the
Service Provider at the following addresses:
OWNER SERVICE PROVIDER
City of Kenai Kenai Chamber of Commerce
210 Fidalgo Ave and Visitor Center, Inc.
Kenai, Alaska 99611 11471 Kenai Spur Highway
Kenai, Alaska 99611
ARTICLE 8
EXTENT OF AGREEMENT
This AGREEMENT represents the entire and integrated AGREEMENT between the Owner and the Service
Provider, and supersedes all prior, inconsistent negotiations, representations, or AGREEMENTS, either
written or oral. This AGREEMENT may be amended only by written instrument signed by both Owner and
Service Provider.
IN WITNESS WHEREOF, the parties have caused this AGREEMENT to be executed in their respective
names by their duly authorized representatives as of the date and year above written.
ARTICLE 9
ATTACHMENTS
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Professional Services Agreement Last Revised January 2014
In the event there is any difference between an attachment to the original of this AGREEMENT on file with
the City of Kenai and any attachment to a duplicate original of the AGREEMENT, the attachments to the
original filed with the City shall control.
ARTICLE 10
JURISDICTION: CHOICE OF LAW
This contract shall be governed by the laws of the State of Alaska, and any lawsuit brought thereon shall
be filed in the Third Judicial District at Kenai, Alaska.
OWNER and SERVICE PROVIDER each binds themselves, their partners, successors, assigns and legal
representatives in respect to all covenants, AGREEMENTs and obligations contained in the Contract
Documents.
IN WITNESS WHEREOF, the parties have caused this AGREEMENT to be executed in their respective
names or by their duly authorized representatives as of the date and year above written.
OWNER:
CITY OF KENAI
By: __________________________
Paul Ostrander
City Manager
STATE OF ALASKA )
)ss.
THIRD JUDICIAL DISTRICT )
THIS IS TO CERTIFY that on
this ____ day of __________, 2021.
Paul Ostrander, City Manager,
City of Kenai, Alaska, being personally known to
me or having produced satisfactory evidence of
identification, appeared before me and
acknowledged the voluntary and authorized
execution of the foregoing instrument on behalf
of said City.
______________________________
NOTARY PUBLIC FOR ALASKA
My Commission Expires: _________
Approved by Legal: _________
Approved by Finance: _________
SERVICE PROVIDER:
By: __________________________
Name: _______________________
Title: ________________________
STATE OF ALASKA )
)ss.
THIRD JUDICIAL DISTRICT )
THIS IS TO CERTIFY that on
this ____ day of __________, 2021.
____________________________,(title)
_________________________of
______________________ being personally
known to me or having produced satisfactory
evidence of identification, appeared before me
and acknowledged the voluntary and authorized
execution of the foregoing instrument on behalf
of said corporation.
______________________________
NOTARY PUBLIC FOR ALASKA
My Commission Expires: _________
Page 106
GROCERY AND NECESSARY HOUSEHOLD GOODS VOUCHER PROGRAM
Name:
Physical Address:
City: Kenai State: AK Zip: 99611
Optional Mailing Address:
If you would like vouchers mailed to you
City: State: AK Zip:
Phone: Email:
Optional Optional
Have your personal finances been impacted by the COVID-19 public health emergency?
☐ Yes ☐ No
(Impacts could include, but are not limited to, loss of income from wages, loss of work or increased
household expenses (purchases of personal protective equipment, at home school supplies, etc.)
Signature Date
Page 107
MEMORANDUM
TO:
THROUGH:
FROM:
DATE:
SUBJECT:
Mayor Gabriel and Council Members
Paul Ostrander, City Manager
Terry Eubank, Finance Director
January 25, 2020
Quarterly Financial Report
Attached is a relatively easily produced quarterly financial report for the General Fund, Personal
Use Fishery Fund, Airport Fund, Water/Sewer Fund, and Senior Fund as of December 31, 2020.
This report is essentially on a cash basis, so there are accounts that may not look reasonable. In
the General Fund for example, sales and property tax revenue only includes payments made to
the City by the Borough through November. The fourth calendar quarter 2020 sales tax filings
and tax payments are not in at this point and we will not be received for this quarter until the end
of January or early February.
State and Federal revenues are below budget in all funds because of PERS aid. The State
doesn’t actually give us any money. Instead they make an ‘on-behalf’ payment to the pension
system. Similarly, we have not booked expenditures for the PERS the State is covering, so the
Non-Departmental department is way under budget. At year-end we will record revenue and
expenditures for these items.
Page 108
Quarterly General Fund
Expenditure Report
For Quarter Ended December 31, 2020
Original *
FY2020 FY2021 Amended YTD
Actual Budget Budget Actual Variance %
REVENUES
Appropriation of Fund Balance -$ 1,630,773$ 3,467,483$ -$ (3,467,483)$ 0.00%
Taxes 11,646,400 11,094,097 11,094,097 6,673,884 (4,420,213) 60.16%
Licenses/Permits and Ambulance 687,247 671,000 671,000 364,881 (306,119) 54.38%
State/Federal 1,008,704 918,385 986,328 213,089 (773,239) 21.60%
Dock/Multipurpose/Miscellaneous 143,254 143,500 143,500 68,567 (74,933) 47.78%
Fines and Forfeitures 73,774 87,500 105,147 69,064 (36,083) 65.68%
Interest and Miscellaneous 857,550 496,411 505,175 391,710 (113,465) 77.54%
Transfers/Central Admin Fees 1,783,239 1,870,623 1,870,623 932,943 (937,680) 49.87%
Total Revenues 16,200,168 16,912,289 18,843,353 8,714,138 (10,129,215) 46.25%
EXPENDITURES & TRANSFERS
General Government
01 City Clerk 270,870$ 306,417$ 306,417$ 143,298$ 163,119$ 53.23%
11 Legislative 149,184 163,614 163,614 62,736 100,878 61.66%
12 Legal 316,915 351,880 351,880 158,175 193,705 55.05%
13 City Manager 357,534 442,081 443,881 177,761 266,120 59.95%
14 Human Resources 167,185 177,224 180,723 88,130 92,593 51.23%
15 Finance 694,039 759,848 809,848 362,941 446,907 55.18%
16 Land Administration 7,006 14,713 14,713 1,361 13,352 90.75%
18 Non-Departmental 917,287 1,256,466 1,245,430 548,377 697,053 55.97%
19 Planning and Zoning 208,515 230,646 230,646 87,000 143,646 62.28%
20 Safety 790 19,150 19,150 230 18,920 98.80%
Total General Government 3,089,325 3,722,038 3,766,301 1,630,009 2,136,292 56.72%
Public Safety
21 Police 2,187,246 3,400,122 3,402,257 205,198 3,197,059 93.97%
22 Fire 2,272,757 3,259,311 3,294,885 223,829 3,071,056 93.21%
23 Communications 576,433 886,835 886,835 42,963 843,872 95.16%
29 Animal Control 403,794 445,097 445,097 218,582 226,515 50.89%
Total Public Safety 5,440,230 7,991,365 8,029,074 690,572 7,338,502 91.40%
Public Works
31 Public Works Administration 163,211 196,456 198,177 89,575 108,602 54.80%
32 Shop 608,981 646,827 646,827 261,420 385,407 59.58%
33 Streets 948,981 1,068,845 1,068,845 346,748 722,097 67.56%
34 Buildings 358,511 407,277 407,277 166,282 240,995 59.17%
35 Street Lighting 177,965 192,183 192,183 63,921 128,262 66.74%
60 Dock 50,843 62,232 62,232 12,291 49,941 80.25%
Total Public Works 2,308,492 2,573,820 2,575,541 940,237 1,635,304 63.49%
Parks and Recreation & Culture
03 Visitor Center 165,169 133,981 144,991 65,732 79,259 54.66%
40 Library 805,319 863,016 873,724 396,311 477,413 54.64%
45 Parks, Recreation & Beautification 1,057,415 1,117,100 1,151,354 504,743 646,611 56.16%
Total Parks and Recreation & Culture 2,027,903 2,114,097 2,170,069 966,786 1,203,283 55.45%
Total Operating Expenditures 12,865,950 16,401,320 16,540,985 4,227,604 12,313,381 74.44%
Transfer to other funds
Street Improvement Capital Project Fund 200,000 - 1,116,560 1,116,560 - 0.00%
Kenai Recreation Center Capital Project Fund 100,000 - 60,000 60,000 - 0.00%
Trail Construction Capital Project Fund 37,800 - - - - -
Public Safety Building Capital Proj. Fund 12,218 - - - - -
Public Safety Capital Project Fund - - 9,269 9,269 - 0.00%
Kenai Multipurpose Facility Capiral Proj. Fund - 152,259 152,259 152,259 - 0.00%
Library Improvement Capital Proj. Fund 50,000 - 58,000 58,000 - 0.00%
Visitor Center Improvement Capital Proj. Fund - - 182,000 182,000 - 0.00%
Information Technology Capital Proj. Fund - - 35,000 35,000 - 0.00%
City Hall Improvement Capital Proj. Fund - - 210,000 210,000 - 0.00%
Kenai Fine Arts Center Imp. Cap. Proj. Fund - - 120,000 120,000 - 0.00%
Senior Citizen Special Revenue Fund 253,999 217,192 217,762 109,166 108,596 49.87%
Debt Service 139,853 141,518 141,518 105,400 36,118 25.52%
Total Transfer to other funds 793,870 510,969 2,302,368 2,157,654 144,714 6.29%
Total Expenditures & Transfers 13,659,820 16,912,289 18,843,353 6,385,258 12,458,095 66.11%
Net Revenues over(under) Expenditures 2,540,348$ -$ -$ 2,328,880$ 2,328,880$
* Note: The original budget includes outstanding encumbrances at 6/30/2020.
Page 109
Quarterly General Fund
Expenditure Report
For Quarter Ended December 31, 2020
Original *
FY2020 FY2021 Amended YTD
Actual Budget Budget Actual Variance %
REVENUES
Appropriation of Fund Balance -$ 64,973$ 65,515$ -$ (65,515)$ -100.00%
Beach Parking 144,331 146,460 146,460 175,980 29,520 20.16%
Beach Camping 149,788 164,900 164,900 214,248 49,348 29.93%
Dock Launch & Park 105,275 106,000 106,000 115,543 9,543 9.00%
Dock Parking Only 11,736 12,000 12,000 13,377 1,377 11.48%
Participant Drop-off Fee 4,698 6,715 6,715 4,792 (1,923) -28.64%
Interest Earnings 8,836 750 750 - (750) -100.00%
PERS Grant 3,355 5,688 5,688 - (5,688) -100.00%
Credit Card Fees (4,306) (4,000) (4,000) (12,657) (8,657) 216.43%
Transfer from CP Funds - - - 2,215 2,215 N/A
Total Revenue 423,713 503,486 504,028 513,498 9,470 1.88%
EXPENDITURES & TRANSFERS
Public Safety 81,775$ 81,211$ 81,334$ 48,859$ 32,475$ 39.93%
Streets 30,743 50,389 50,449 30,034 20,415 40.47%
Boating Facility 52,494 90,850 90,965 80,804 10,161 11.17%
Parks, Recreation & Beautification 206,172 207,152 242,515 143,473 99,042 40.84%
Total Operating Expenditures 371,184 429,602 465,263 303,170 162,093 34.84%
Transfers to Other Funds - General Fund 50,000 50,000 50,000 50,000 - 0.00%
Total Expenditures & Transfers 421,184 479,602 515,263 353,170 162,093 31.46%
Net Revenues over Expenditures 2,529$ 23,884$ (11,235)$ 160,328$ (152,623)$
* Note: The original budget includes outstanding encumbrances at 6/30/2020.
Page 110
Quarterly General Fund
Expenditure Report
For Quarter Ended December 31, 2020
Original *
FY2020 FY2021 Amended YTD
Actual Budget Budget Actual Variance %
REVENUES
Appropriation of Fund Balance -$ 41,945$ 801,820$ 883,569$ 81,749$ 0.00%
State/Federal 833,516 55,254 913,014 474,725 (438,289) 52.00%
Interest , Leases & Fees 725,424 702,009 702,009 509,097 (192,912) 72.52%
Terminal Revenues 796,773 624,051 624,051 290,373 (333,678) 46.53%
Landing Fees 337,097 300,874 300,874 102,626 (198,248) 34.11%
Transfers In 928,251 955,050 955,050 105,651 (849,399) 11.06%
Total Revenues 3,621,061 2,679,183 4,296,818 2,366,041 (1,930,777) 55.06%
EXPENDITURES & TRANSFERS
Terminal Area 565,649$ 666,607$ 666,607$ 256,656$ 409,951$ 61.50%
Airfield 1,734,690 1,874,687 1,877,835 852,355 1,025,480 54.61%
Administration 299,666 358,462 1,186,739 154,857 1,031,882 86.95%
Other Buildings & Areas 186,740 174,462 200,797 62,778 138,019 68.74%
Training Facility 26,551 38,475 38,475 6,334 32,141 83.54%
Total Expenditures 2,813,296 3,112,693 3,970,453 1,332,980 2,637,473 66.43%
Transfer to other funds
Airport Improvement Capital Projects 799,875 - 1,033,061 1,033,061 - 0.00%
Total Transfer to other funds 799,875 - 1,033,061 1,033,061 - 0.00%
Total Expenditures & Transfers 3,613,171 3,112,693 5,003,514 2,366,041 2,637,473 52.71%
Net Revenues over Expenditures 7,890$ (433,510)$ (706,696)$ -$ 706,696$
* Note: The original budget includes outstanding encumbrances at 6/30/2020.
Page 111
Quarterly General Fund
Expenditure Report
For Quarter Ended December 31, 2020
Original *
FY2020 FY2021 Amended YTD
Actual Budget Budget Actual Variance %
REVENUES
Appropriation of Fund Balance -$ 447,404$ 694,175$ 457,817$ (236,358)$ 65.95%
State/Federal 40,373 55,288 55,288 - (55,288) 0.00%
Water/Sewer Fees 2,918,937 2,955,467 2,955,467 1,486,914 (1,468,553) 50.31%
Penalty and Interest 31,873 41,600 41,600 - (41,600) 0.00%
Interest and Miscellaneous 143,799 15,480 15,480 1,895 (13,585) 12.24%
Transfer from CP Funds - - - 23,496 23,496 N/A
Total Revenues 3,134,982 3,515,239 3,762,010 1,970,122 (1,791,888) 52.37%
EXPENDITURES & TRANSFERS
Water 777,623$ 901,915$ 901,915$ 362,394$ 539,521$ 59.82%
Sewer 380,979 508,804 508,804 182,062 326,742 64.22%
Wastewater Treatment Plant 1,073,772 1,221,943 1,221,943 454,793 767,150 62.78%
Total Expenditures 2,232,374 2,632,662 2,632,662 999,249 1,633,413 62.04%
Transfer to other funds -
Water & Sewer Capital Projects - 882,577 970,873 970,873 - -
Total Transfer to other funds - 882,577 970,873 970,873 - -
Total Expenditures & Transfers 2,232,374 3,515,239 3,603,535 1,970,122 1,633,413 45.33%
Net Revenues over Expenditures 902,608$ -$ 158,475$ -$ (158,475)$
* Note: The original budget includes outstanding encumbrances at 6/30/2020.
Page 112
Quarterly General Fund
Expenditure Report
For Quarter Ended December 31, 2020
Original *
FY2020 FY2021 Amended YTD
Actual Budget Budget Actual Variance %
REVENUES
Appropriation of Fund Balance -$ 65,799$ 22,785$ -$ (22,785)$ 0.00%
State Grants 246,012 212,504 245,004 87,427 (157,577) 35.68%
USDA Grant 20,471 20,000 20,000 5,374 (14,626) 26.87%
Choice Waiver 117,208 125,000 125,000 60,015 (64,985) 48.01%
KPB Grant 126,207 126,207 169,221 224,148 54,927 132.46%
Rents & Leases 9,811 13,000 13,000 310 (12,690) 2.38%
Miscellaneous Donations 34,198 28,500 28,500 6,923 (21,577) 24.29%
Donations - Senior Connection 50,430 50,000 50,000 - (50,000) 0.00%
Meal Donations 56,243 72,500 72,500 20,433 (52,067) 28.18%
Ride Donations 2,570 4,000 4,000 - (4,000) 0.00%
Transfer from General Fund - Operations 242,829 203,092 203,662 109,166 (94,496) 53.60%
Transfer from General Fund - Capital 11,170 14,100 14,100 - (14,100) 0.00%
Other 97 300 300 6 (294) 2.00%
Total Revenues 917,246 935,002 968,072 513,802 (454,270) 53.07%
EXPENDITURES & TRANSFERS
Senior Citizen Access 171,710$ 180,075$ 180,204$ 69,211$ 110,993$ 61.59%
Congregate Meals 248,997 262,518 262,673 108,852 153,821 58.56%
Home Meals 236,221 230,951 263,586 113,673 149,913 56.87%
Senior Transportation 101,065 100,417 100,488 36,718 63,770 63.46%
Choice Waiver 145,816 161,041 161,121 64,562 96,559 59.93%
Total Expenditures 903,809 935,002 968,072 393,016 575,056 59.40%
Transfer to other funds -
- - - - - -
Total Transfer to other funds - - - - - -
Total Expenditures & Transfers 903,809 935,002 968,072 393,016 575,056 59.40%
Net Revenues over Expenditures 13,437$ -$ -$ 120,786$ 120,786$
* Note: The original budget includes outstanding encumbrances at 6/30/2020.
Page 113
MEMORANDUM
TO: Mayor Brian Gabriel and Kenai City Council
THROUGH: Paul Ostrander, City Manager
FROM: Terry Eubank
DATE: January 22, 2021
SUBJECT: December 31, 2020 Quarterly Investment Report
City of Kenai Investment Portfolio
At December 31, 2020 the City had investments with a market value of $28,310,031. That is up
from $25,575,438 at September 30, 2020. The infusion of FY2021 property taxes resulted in an
increase in the portfolio. The City’s portfolio is yielding 0.90% that is down from 1.12% at
September 30, 2020. There has been no change in the Federal Reserve Rate since September
30, 2020. Securities with higher yields are maturing and being replaced with lower yielding
securities. The result is a decrease in the portfolios rate of return.
City’s Investment Portfolio
US Agency Securities $ 2,901,210
AML Investment Pool 7,317,977
Wells Fargo Money Market 7,738,027
FDIC Insured Certificates of Deposit 10,158,595
Bank Balance 194,222
Total $28,310,031
Permanent Fund Investments
The fourth quarter 2020 saw continued recovery in the equity markets from the steep declines
caused by the COVID-19 public health emergency and the virtual shutdown of the world’s
economies. Significant volatility continues as the economy works to recover and get Americans
back to work. Returns for the fourth quarter of 2020 were an amazing 9.38%. Since inception
the portfolio has returned 8.44%. As of December 31, 2020 the portfolio value was $33,562,115,
comprised of $28,632,059 (85.31%) Airport Land Sale Permanent Fund, $3,643,755 (10.86%)
General Land Sale Permanent Fund monies, $178,171 (0.53%) Kenai Community Foundation
holdings, and $1,108,130 (3.30%) Kenai Senior Connection holdings.
With the Airport Land Sale Permanent Fund’s year ending balance of $28,632,059, the current
spending policy is designed to acknowledge the goal of preserving purchasing power (inflation
proofing) while allowing for annual transfers to support the Kenai Municipal Airport by adjusting
the spending rate based upon the level of principal preservation (3.8% - 4.2%). At 2020 calendar
Page 114
Page 2 of 3
year end, the 5 year-average market value of the portfolio ($25,524,254) was below the inflation
adjusted principal ($26,531,145), thus the allowable transfer is limited to the lower bound of the
spending rate (3.8%). The 2020 allowable transfer based upon this calculation is $969,922.
The FY2021 budgeted transfer amount was $955,050 requiring a supplemental appropriation to
maximize this year’s distribution. An Ordinance providing for the supplemental appropriation is
included in this Council packet for your consideration.
With the General Land Sale Permanent Fund’s year ending balance of $3,643,755, the current
spending policy is designed to allow for annual transfers to the General Fund, while
acknowledging the constraint on spending inflation adjusted principal (KMC Section 5-11). To
increase the likelihood of annual distributions, spending is limited to 4% annually and excess
earnings are reserved to supplement spending when portfolio earnings are less than the 4% limit
in any given year. In 2020, portfolio earnings exceeded the 4% spending limit after accounting for
inflation, thus the 2020 annual transfer is limited to $145,750 (4% of the Fund’s value) and all
other earnings will be credited to the reserve. After accounting for the allowable transfer, the
earnings reserve at calendar year end was $546,312K. The FY2021 budgeted transfer amount
was $139,523 requiring a supplemental appropriation to maximize this year’s distribution. An
Ordinance providing for the supplemental appropriation is included in this Council packet for your
consideration.
A reserve balance of $546.312 is equal to approximately 3.74 years of future distributions based
upon the 2020 calendar year end market value. A decline in the Fund’s market value of
approximately 14% would eliminate the existing reserve. The strategy was designed to increase
the reserve over time to increase distribution stability given market volatility.
The administration is recommending a change in the portfolio’s asset allocation for 2021.
Resolution 2021-05 is up for action at tonight’s Council meeting. A change is being recommended
to increase the allocation to equities, stocks of publicly traded companies, from 50% to 60% of
the portfolio with a corresponding decrease in the fixed income, bonds, portion of the portfolio
from 40% to 30% of the portfolio total. The sharp reduction in short-term interest rates that
occurred by the Federal Reserve Board in response to the COVID-19 pandemic coupled with the
projection for continued low rates for the foreseeable future resulted in a reduction in the portfolio’s
expected long-term rate of return from 5.9% a year ago to 5.3% moving forward. 5.3% is below
the income level needed to provide the established 4% average draw from the permanent funds
and provide inflation proofing of the fund’s corpus. Long-term annual projections of inflation are
2.0%.
The recommendation to Increase the portfolio’s equity allocation and decreasing the fixed income
allocation will provide a projected annual rate of return of 6.0% providing the return necessary to
provide for a 4% annual draw and 2% for inflation proofing of the fund’s corpus. As with any
investment, in order to increase the expected rate of return the investor must assume additional
risk. The 2020 asset allocation is projected to provide returns between -12.3% and 23.7%
annually over the next ten-years with an average rate of return of 5.3%. The recommended asset
allocation is projected to provide returns between -14.9% and 28.0% annually over the next ten-
years with an average rate of return of 6.0%.
Other options were discussed including the addition of high yield bonds of United States
Corporations. High yield bonds have a credit rating below investment grade, below BBB. Also
Page 115
Page 3 of 3
considered was inclusion of high yield bonds of United State Corporations and an asset class
know as Alt Beta. Alt Beta funds are relatively new investments that attempt to replicate the risk
and return characteristics of hedge fund strategies by following a systematic investment process.
Both of these options produced projected returns equivalent the recommended allocation at
slightly lower risks. The Administration will continue to analyze these other options and may
recommend incorporation of one or both in coming years but feels more comfortable with the
recommended allocation for the current year.
Page 116
CITY OF KENAI
INVESTMENT PORTFOLIO SUMMARY
December 31, 2020
Fair Market Current
Value Yield
Cash & Cash Equivalents
Wells Fargo Checking 194,222$ 0.01%
Wells Fargo Secured Money Market 7,738,027 0.01%
FDIC Insured Certificates of Deposit 10,158,595 2.13%
Alaska Municipal League Investment Pool 7,317,977 0.01%
Total Cash & Cash Equivalents 25,408,821 0.86%
Average
Yield
Government Securities
Maturities Less than 1 Year 502,140 3.88%
Maturities 1 to 2 Years - 0.00%
Maturities Greater than 2 Years 2,399,070 0.65%
Total Government Securities 2,901,210 1.21%
Total Portfolio 28,310,031$ 0.90%
Investment Portfolio - Purchase Price 28,300,279$
Investment Portfolio - Fair Value 12/31/20 28,310,031
Fair Value Adjustment - 06/30/20 9,752
Fair Value Adjustment thru - 12/31/2020 271,858
Cummulative Change in Fair Value 281,610$
December 31, 2020
$0
$4,000,000
$8,000,000
$12,000,000
$16,000,000
Liquidity 20%
Minimum
Maturity 1 - 2 years Maturity over 2 years
30% Maximum
Portfolio Liquidity
Policy Minimum/Maximum Actual
Page 117
CITY OF KENAI
Investments 12-31-20 COK
CITY OF KENAI
INVESTMENTS
12/31/2020
Current year cost or Unrealized
Expected Call 06/30/20 12/31/20 Gain Accrued EFFECT. DATE DATE
SECURITY or Maturity CUSIP original cost Market Value Market Value or Loss Interest RATE PURCH. DUE
TVA 3.875 2/15/21 Bullet 880591EL2 555,678 511,330.00 502,140.00 (9,190.00) 7,319.44 3.875 10/12/2016 2/15/2021
FHMS K053 A1 Bullet 3137BN6F6 599,762 599,761.80 598,794.07 (967.73) 1,212.56 0.383 11/27/2020 2/25/2025
FN AN3349 Bullet 3138LFWK0 299,202 299,202.40 299,054.38 (148.02) 486.15 0.589 11/20/2020 10/1/2023
FN AM4716 Bullet 3138L5G20 644,282 644,281.66 646,622.10 2,340.44 1,746.19 0.787 11/20/2020 10/1/2023
FN Am47124 Bullet 3138L74J2 857,957 857,956.81 854,599.85 (3,356.96) 2,038.62 0.759 11/20/2020 10/1/2023
TOTAL 2,956,880.38 2,912,532.67 2,901,210.40 (11,322.27) 12,802.96 1.279
#REF!
FDIC Insured CD's CD - 12/31/10
2.45 GMATBK 5/3/21 57803 02007GJR5 245,082 249,797.10 247,013.90 (2,783.20) 986.71 2.450 5/7/2019 5/3/2021
3.55 AXP 12/4/23 27471 02589AA28 249,998 271,462.45 269,115.35 (2,347.10) 665.38 3.160 1/2/2019 12/4/2023
1.50 AMERPL 4/26/21 58469 02905LBK0 245,000 247,731.75 246,149.05 (1,582.70) 80.55 1.500 1/24/2020 4/26/2021
2.45 BWW 5/10/22 35141 05580ARK2 245,000 255,250.80 252,920.85 (2,329.95) 855.15 2.450 5/10/2019 5/10/2022
1.75 SECSTB 12/18/24 8941 062163BN9 245,000 257,833.10 259,075.25 1,242.15 164.45 1.750 12/18/2019 12/18/2024
0.20 HAPOAL 11/27/22 33686 06251A2M1 249,000 249,000.00 249,483.06 483.06 61.40 0.200 11/17/2020 11/17/2022
3.10 BANK MIDWEST CD 9/15/23 5170 063615BM9 245,000 266,555.10 264,502.00 (2,053.10) 2,205.67 3.100 9/17/2018 9/15/2023
2.45 SONHBT 5/23/22 24540 06426KBB3 245,000 255,397.80 253,126.65 (2,271.15) 148.01 2.450 5/23/2019 5/23/2022
2.30 BACR 10/18/22 57203 06740KLD7 245,000 256,551.75 254,724.05 (1,827.70) 1,157.88 2.300 10/18/2017 10/18/2022
1.60 BRKL 2/12/21 17798 11373QHS0 245,000 247,229.50 245,453.25 (1,776.25) 204.05 1.600 12/13/2019 2/12/2021
2.4 COF 4/19/22 33954 1404202E9 247,000 256,788.61 254,491.51 (2,297.10) 1,201.84 2.400 4/19/2017 4/19/2022
2.4 COF 8/30/22 4297 14042RHS3 245,000 256,512.55 254,430.05 (2,082.50) 1,949.26 2.400 8/28/2017 8/30/2022
3.15 CFBANK 9/18/23 28263 15721UCQ0 245,000 266,898.10 264,837.65 (2,060.45) 296.01 3.150 9/18/2018 9/18/2023
3.30 C 9/7/23 7213 17312QS34 245,000 267,909.95 265,589.80 (2,320.15) 2,569.48 3.300 9/7/2018 9/7/2023
1.75 CNBMIL 12/9/24 3814 17801GBW8 245,000 257,823.30 259,014.00 1,190.70 270.17 1.750 12/9/2019 12/9/2024
1.55 CONTUT 3/29/21 57571 211163JT8 245,000 247,579.85 245,899.15 (1,680.70) 1,623.04 1.550 1/29/2020 3/29/2021
1.65 NCBKPA 3/29/21 34444 23204HHX9 245,000 247,773.40 245,970.20 (1,803.20) 55.38 1.650 12/27/2019 3/29/2021
2.55 CMS 1/18/22 57293 29278TAK6 245,000 253,947.40 251,404.30 (2,543.10) 273.86 2.550 2/16/2018 1/18/2022
1.65 ESSA 7/29/21 28262 29667RSB0 245,000 248,924.90 247,290.75 (1,634.15) 1,727.75 1.650 1/29/2020 7/29/2021
1.70 FNLC 7/30/21 4256 32117BDW5 245,000 249,069.45 247,374.05 (1,695.40) 353.74 1.700 1/30/2020 7/30/2021
3.10 SRCE 10/21/22 9087 33646CKJ2 245,000 261,108.75 258,286.35 (2,822.40) 2,122.44 3.100 9/21/2018 10/21/2022
2.35 GS 8/30/22 33124 38148PNS2 245,000 256,247.95 254,226.70 (2,021.25) 1,908.65 2.350 8/28/2017 8/30/2022
1.85 LIVOAK 12/11/24 58665 538036HF4 245,000 258,901.30 259,989.10 1,087.80 384.95 1.850 12/11/2019 12/11/2024
1.65 MEDBNK 12/6/21 57449 58404DFV8 247,000 252,182.06 250,680.30 (1,501.76) 290.31 1.650 12/6/2019 12/6/2021
2.60 MS 2/15/22 32992 61747MK83 245,000 254,574.60 252,007.00 (2,567.60) 2,425.84 2.600 2/15/2018 2/15/2022
1.75 MS 12/6/21 34221 61760A3R8 247,000 252,564.91 250,922.36 (1,642.55) 319.75 1.750 12/5/2019 12/6/2021
2.05 NTLNYC 8/30/22 18734 634116CM7 245,000 254,633.40 253,023.75 (1,609.65) 27.52 2.050 10/30/2017 8/30/2022
3.40 NCBSVG 12/21/23 32612 635573AL2 247,234 270,499.60 268,382.80 (2,116.80) 251.04 3.220 1/2/2019 12/21/2023
0.30 NYCB 11/9/23 16022 649447UE7 249,000 249,000.00 249,888.93 888.93 108.47 0.300 11/9/2020 11/9/2023
2.15 NRTHFL 10/25/22 28710 66612ABX5 245,000 255,784.90 254,155.65 (1,629.25) 981.34 2.150 10/30/2017 8/30/2022
1.70 RCKCAN 12/20/23 33542 77183VAD0 245,000 256,078.90 256,005.40 (73.50) 136.93 1.700 12/20/2019 12/20/2023
1.60 SAFR 1/4/21 26876 78658RBF7 245,000 246,884.05 245,041.65 (1,842.40) 299.89 1.600 12/4/2019 1/4/2021
2.80 SALLMA 4/17/24 58177 7954502H7 245,000 266,863.80 265,758.85 (1,104.95) 1,428.38 2.590 5/7/2019 4/17/2024
1.65 SOME 4/30/21 11112 835104BX7 245,000 248,072.30 246,310.75 (1,761.55) 1,716.68 1.650 1/30/2020 4/30/2021
2.75 SBIIN 02/16/23 33682 856285HZ7 245,000 260,817.20 258,744.50 (2,072.70) 2,547.33 2.750 2/16/2018 2/16/2023
1.65 SNV 12/9/21 873 87164DPS3 245,000 250,196.45 248,692.15 (1,504.30) 254.73 1.650 12/9/2019 12/9/2021
2.35 SYF 10/20/22 27314 87164WTC2 245,000 256,858.00 254,973.95 (1,884.05) 1,148.35 2.350 10/20/2017 10/22/2022
2.15 EVER 10/28/22 34775 87270LAV5 245,000 255,870.65 254,238.95 (1,631.70) 909.18 2.150 10/30/2017 10/28/2022
2.05 THFDSL 10/27/21 30012 88413QBT4 245,000 251,090.70 249,047.40 (2,043.30) 908.18 2.050 10/27/2017 10/27/2021
3.00 TOWN 9/27/21 35095 89214PCA5 245,000 253,621.55 250,353.25 (3,268.30) 1,953.29 3.000 9/26/2018 9/27/2021
TOTAL FDIC Insured CD's 9,821,314.22 10,221,887.93 10,158,594.66 (63,293.27) 36,973.03 2.131
WELLS MONEY MKT 7,738,027.09 7,738,027.09 7,738,027.09 99.01 0.010
AML POOL - City ACCT Agreed to Amlip 7,317,977.33 7,317,977.33 7,317,977.33 64.35 0.010
Agreed to GL 27,834,199.02 28,190,425.02 28,115,809.48 (74,615.54) 49,939.35
WF Cash Agreed to WF 194,222.39 194,222.39 194,222.39 - - 0.010
TOTAL 28,028,421.41 28,384,647.41 28,310,031.87 (74,615.54) 49,939.35
MONTHS 281,610.46
TOTAL CURRENT YIELD 0.9012%
Max/Min Return Actual Difference
Maturity over 2 years 30% Maximum 8,493,009.56 1.6437% 5,539,974 2,953,035.53 OK 6000000
Liquidity 20% Minimum 5,662,006.37 0.4343% 19,468,048 (13,806,041.71) OK
Maturity 1 - 2 years 2.4084% 3,302,010
0.9012% 28,310,032
Page 118
CITY OF KENAI
PERMANENT FUND
INVESTMENT PORTFOLIO SUMMARY
December 31, 2020
Current or Current
Average Portfolio Target Portfolio
31-Dec-19 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 Yield Weight Weight Maximum
Fixed Income
Cash & Cash Equivalents 1,687,069 1,643,681 1,686,563 1,675,498 2,070,212 0.01% 5.46%
Total Cash & Cash Equivalents 1,687,069 1,643,681 1,686,563 1,675,498 2,070,212
Government & Corporate Securities
Government Securities 9,439,519 9,104,954 8,908,043 9,029,809 9,059,561 0.91% 29.43%
Corporate Securities 2,026,809 2,644,059 2,951,572 2,954,951 3,008,315 1.37%9.63%
Total Government & Corporate Securities 11,466,328 11,749,013 11,859,615 11,984,760 12,067,876 1.10%39.06%
Total Fixed Income 13,153,397 13,392,694 13,546,178 13,660,258 14,138,088 1.06% 44.52% 45.00% 65.00%
Equities
Domestic Equities
Large-Cap Index 6,005,088 5,188,021 6,216,950 6,277,450 7,044,122 20.46% 20.00% 25.00%
Small-Cap Index 1,557,514 1,179,713 1,428,285 1,504,959 1,969,325 4.90% 5.00% 10.00%
Mid-Cap Index 2,986,448 2,412,532 2,937,586 3,040,011 3,587,646 9.91%10.00%15.00%
Total Domestic Equities 10,549,050 8,780,266 10,582,821 10,822,420 12,601,093 35.27% 35.00% 50.00%
International Equities
Europe Pacific ETF 2,963,145 2,514,175 2,820,829 3,135,397 3,408,193 10.22% 10.00% 15.00%
Vanguard Emerging Market ETF 1,570,867 1,182,533 1,385,874 1,555,963 1,772,297 5.07%5.00%10.00%
Total International Equities 4,534,012 3,696,708 4,206,703 4,691,360 5,180,490 15.29%15.00% 25.00%
Real Estate
JP Morgan Beta Builders MSCI Reit 576,946 456,116 372,699 443,932 488,356 1.45%
Pacer Benchmark Industrial Real Estat --- 145,812 159,528 0.48%
Total Real Estate 576,946 456,116 372,699 589,744 647,884 1.93%2.00%7.00%
Infrastructure
Flexshares Stoxx Global Broad Infrastucture 895,755 739,971 866,614 922,410 994,560 3.01%3.00%8.00%
Total Infrastructure 895,755 739,971 866,614 922,410 994,560 3.01%3.00%8.00%
Total Equities 16,555,763 13,673,061 16,028,837 17,025,934 19,424,027
Total Portfolio 29,709,160 27,065,755 29,575,015 30,686,192 33,562,115 10.84%100.02%100.00%155.00%
Total ALSPF Balance 26,117,403 23,018,774 25,230,638 26,178,591 28,632,059
Total GLSPF Balance 3,430,972 3,023,913 3,210,886 3,331,523 3,643,755
Total Kenai Community Foundation 160,785 141,709 157,004 162,903 178,171
Total Kenai Senior Connection - 881,359 976,487 1,013,175 1,108,130
Fair Market Value
0.00%
25.00%
50.00%
75.00%
Fixed Income Large-Cap Index Small-Cap Index Mid-Cap Index Europe Pacific ETF Vanguard Emerging
Market ETF
JP Morgan Beta
Builders MSCI Reit
Portfolio Composition
Current Portfolio Weight Target Portfolio Weight Maximum Portfolio Weight
Current Month Current Quarter Year to Date Last 1 Year Inception to Date
Portfolio 2.97% 9.38% 10.84% 10.84% 8.44%
Benchmark 2.86% 9.62% 11.23% 11.23% 8.61%
-5.00%
0.00%
5.00%
10.00%
15.00%
Portfolio Performance
Page 119
$15,000,000
$17,000,000
$19,000,000
$21,000,000
$23,000,000
$25,000,000
$27,000,000
$29,000,000
$31,000,000
Total ALSPF Balance
Transfer of $1,195,313
to Airport Operations.
Transfer of $1,147,714
to Airport Operations.
Transfer of $1,184,356
to Airport Operations.
Transfer of $1,210,348
to Airport Operations.
$‐
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000 Total GLSPF Balance
Transfer of $153,493 to
General Fund Operations.
$‐
$50,000
$100,000
$150,000
$200,000
Total Kenai Community Foundation Balance
$50,000 investment.
Initial investment of
$66,143.
Transfer of $149,802 to
General Fund Operations.
Transfer of $1,203,690
to Airport Operations.
Transfer of $161,561 to
General Fund Operations.
$‐
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
Total Kenai Senior Connection Balance
Initial investment.
Transfer of $137,239 to
General Fund Operations.
Transfer of $928,251 to
Airport Operations.
Page 120
Clients are encouraged to compare this report with the official statement from their custodian.INVESTMENT PERFORMANCECurrentMonthCurrentQuarterYear toDateLatest 1YearInception toDatePortfolio2.97 9.38 10.84 10.84 8.44Benchmark2.86 9.62 11.23 11.23 8.610.002.004.006.008.0010.0012.00Percent Total Return (Gross)Performance is Annualized for Periods Greater than One YearCurrent Account Benchmark:Equity BlendPORTFOLIO COMPOSITIONFixed Income42%US Lg Cap21%US Md Cap11%US Sm Cap6%Int'l10%Emer Mkts5%Real Estate5%MANAGEMENT TEAMClient Relationship Manager:Amber Frizzell, AIF®Amber@apcm.netYour Portfolio Manager:Bill Lierman, CFA®Contact Phone Number:907/272 -7575ACCOUNT ACTIVITYPortfolio Value on 11-30-2032,595,401Contributions0Withdrawals-443Change in Market Value 831,084Interest24,969Dividends111,105Portfolio Value on 12-31-2033,562,115CITY OF KENAI PERMANENT FUNDSAccount Statement - Period Ending December 31, 2020Page 121
Alaska Permanent Capital Management Co.
PORTFOLIO SUMMARY AND TARGET
CITY OF KENAI PERMANENT FUNDS
December 31, 2020
%
Asset Class & Target Market Value Assets Range
FIXED INCOME (45%)
US Fixed Income (40.0%) 12,068,708 36.0 35% to 65%
Cash (5.0%) 2,098,307 6.3 0% to 10%
Subtotal: 14,167,015 42.2
EQUITY (50%)
US Large Cap (20.0%) 7,015,195 20.9 15% to 25%
US Mid Cap (10.0%) 3,587,646 10.7 5% to 15%
US Small Cap (5.0%) 1,969,325 5.9 0% to 10%
Developed International Equity (10.0%) 3,408,193 10.2 5% to 15%
Emerging Markets (5.0%) 1,772,297 5.3 0% to 10%
Subtotal: 17,752,656 52.9
ALTERNATIVE INVESTMENTS (5%)
Real Estate (2.0%) 647,883 1.9 0% to 5%
Infrastructure (3.0%) 994,560 3.0 0% to 6%
Subtotal: 1,642,443 4.9
TOTAL PORTFOLIO 33,562,115 100
Page 122
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISALCITY OF KENAI PERMANENT FUNDSDecember 31, 2020YieldAverage Total Market Pct. Annual Accrued toQuantity Security Cost Average Cost Price Value Assets Income Interest MaturityFNMA & FHLMC11,329 FHLMC POOL G14203 104.56 11,846 106.37 12,051 0.04 453 38 -0.244.000% Due 04-01-26103,841 FG POOL C91270 105.67 109,731109.32 113,519 0.34 4,673 389 0.614.500% Due 10-01-2996,162 FG POOL J30401 101.30 97,409107.54 103,412 0.31 2,885 240 0.653.000% Due 01-01-30105,964 FG POOL G16255 99.70 105,649106.58 112,942 0.34 2,649 221 0.782.500% Due 07-01-32105,271 FNCL POOL 995373 106.72 112,344112.24 118,155 0.35 4,737 395 1.804.500% Due 02-01-39115,000 FR RB5095 MTGE 103.84 119,411 103.99 119,587 0.36 2,300 192 0.472.000% Due 01-01-41275,473 FN POOL AJ1405 104.48 287,827 110.07 303,225 0.90 11,019 918 1.604.000% Due 09-01-41143,706 FN POOL AT2324 100.20 143,998108.81 156,373 0.47 4,311 72 1.443.000% Due 01-01-43205,675 FG POOL V80057 100.23 206,157109.40 225,000 0.67 6,170 514 1.433.000% Due 05-01-43135,805 FN POOL AL3180 100.20 136,081108.81 147,777 0.44 4,074 340 1.453.000% Due 05-01-43181,772 FG POOL G08722 102.09 185,564107.03 194,551 0.58 6,362 530 1.793.500% Due 09-01-4666,646 FN AS8483 102.95 68,615 105.52 70,329 0.21 1,999 167 1.293.000% Due 12-01-4687,121 FN POOL BD2453 99.89 87,026 108.37 94,414 0.28 2,614 218 1.293.000% Due 01-01-47346,014 FN POOL AS8810 102.04 353,069 106.52 368,577 1.10 12,110 1,009 1.873.500% Due 02-01-47112,937 FN POOL MA2930 103.56 116,961107.67 121,605 0.36 4,517 376 1.914.000% Due 03-01-4792,637 FG G61893 101.14 93,694 105.12 97,381 0.29 2,779 232 1.263.000% Due 07-01-4755,792 FN MA3276 105.75 59,000 106.11 59,202 0.18 1,953 163 1.563.500% Due 02-01-48102,731 FN MA3305 103.02 105,829 105.96 108,856 0.32 3,596 300 1.343.500% Due 03-01-4835,503 FN POOL MA3638 103.09 36,601 106.80 37,916 0.11 1,420 118 2.034.000% Due 04-01-4977,021 FR RA1343 104.69 80,632 106.60 82,109 0.24 2,311 193 1.303.000% Due 09-01-4960,085 FN MA3834 101.90 61,225 104.86 63,007 0.19 1,803 150 1.263.000% Due 11-01-4963,517 FN MA3871 101.91 64,727 104.71 66,506 0.20 1,905 159 1.263.000% Due 12-01-49Page 123
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISALCITY OF KENAI PERMANENT FUNDSDecember 31, 2020YieldAverage Total Market Pct. Annual Accrued toQuantity Security Cost Average Cost Price Value Assets Income Interest Maturity68,556 FR QA5517 102.31 70,141 104.80 71,849 0.21 2,057 171 1.303.000% Due 12-01-4969,783 FN MA3960 102.31 71,396 104.83 73,155 0.22 2,093 174 1.443.000% Due 03-01-5098,200 FANNIE MAE POOL 104.98 103,095105.51 103,608 0.31 2,455 205 0.922.500% Due 05-01-50170,932 FANNIE MAE POOL 105.11 179,666105.93 181,062 0.54 4,273 356 0.922.500% Due 08-01-50114,683 FN CA7738 MTGE 105.64 121,152 105.65 121,165 0.36 2,867 239 0.922.500% Due 11-01-50115,000 FN MA4237 MTGE 103.73 119,295 103.89 119,471 0.36 2,300 192 1.122.000% Due 01-01-51Accrued Interest8,270 0.023,308,140 3,455,072 10.29 8,270CORPORATE BONDS100,000 ABBVIE INC 101.31 101,307 104.61 104,608 0.31 2,900 443 0.392.900% Due 11-06-22100,000 GOLDMAN SACHS GROUP INC 101.98101,985 106.71 106,713 0.32 3,625 1,601 0.353.625% Due 01-22-2375,000 STARBUCKS CORP 98.54 73,902 105.63 79,226 0.24 2,325 775 0.483.100% Due 03-01-23100,000 AVALONBAY COMMUNITIES 100.82 100,816 104.37 104,373 0.31 2,850 839 0.842.850% Due 03-15-23100,000 AFLAC INC 104.97 104,975 107.82 107,820 0.32 3,625 161 0.423.625% Due 06-15-23200,000 BANK OF NEW YORK MELLON 97.83195,666 104.75 209,508 0.62 4,400 1,650 0.382.200% Due 08-16-23200,000 JPMORGAN CHASE & CO 105.18 210,362 110.04 220,088 0.66 7,750 3,229 0.583.875% Due 02-01-24100,000 MORGAN STANLEY IND FINANCIAL SRV 103.71 103,711 110.78 110,782 0.33 3,875 667 0.603.875% Due 04-29-24100,000 WELLS FARGO & COMPANY 99.88 99,882 109.52 109,521 0.33 3,300 1,027 0.683.300% Due 09-09-24150,000 KIMCO REALTY CORP 94.92 142,377109.31 163,960 0.49 4,950 2,062 0.973.300% Due 02-01-25150,000 REYNOLDS AMERICAN INC108.47 162,700 113.90 170,848 0.51 6,675 352 1.234.450% Due 06-12-25150,000 CITIGROUP INC 101.65 152,470 113.64 170,454 0.51 5,550 2,605 0.923.700% Due 01-12-26100,000 KROGER CO 99.82 99,820 109.23 109,230 0.33 2,650 559 1.002.650% Due 10-15-26100,000 GENERAL DYNAMICS CORP106.12 106,120 115.04 115,040 0.34 3,500 875 1.013.500% Due 04-01-27100,000 ENBRIDGE INC 101.13 101,135 113.97 113,972 0.34 3,700 1,706 1.453.700% Due 07-15-27Page 124
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISALCITY OF KENAI PERMANENT FUNDSDecember 31, 2020YieldAverage Total Market Pct. Annual Accrued toQuantity Security Cost Average Cost Price Value Assets Income Interest Maturity100,000 ANHEUSER-BUSCH INBEV WORLDWIDE114.31 114,309 117.90 117,896 0.35 4,000 867 1.414.000% Due 04-13-28100,000 INTEL CORP 105.62 105,622 108.48 108,476 0.32 2,450 313 1.432.450% Due 11-15-29100,000 AT&T INC 119.32 119,320 146.80 146,804 0.44 6,375 2,125 3.206.375% Due 03-01-41100,000 HOME DEPOT INC 115.63 115,627 142.28 142,282 0.42 4,875 1,842 2.464.875% Due 02-15-44100,000 CARDINAL HEALTH 111.47 111,470123.10 123,103 0.37 4,900 1,443 3.504.900% Due 09-15-45100,000 BANK OF AMERICA CORP 106.31 106,308 132.36 132,360 0.39 4,443 1,987 2.744.443% Due 01-20-48100,000 Sysco Corporation 120.54 120,536122.06 122,060 0.36 4,450 1,310 3.234.450% Due 03-15-4875,000 NUTRIEN LTD 99.74 74,803 121.97 91,474 0.27 2,962 395 2.843.950% Due 05-13-50Accrued Interest28,835 0.092,725,224 3,009,435 8.97 28,835DOMESTIC LARGE CAP EQUITY FUNDS/ETF3,435 FLEXSHARES QUAL DIV ETF 40.53 139,217 49.44 169,826 0.51 NA18,309 SPDR S&P 500 ETF 195.51 3,579,531 373.88 6,845,369 20.40 NA3,718,747 7,015,195 20.90DOMESTIC MID CAP EQUITY FUNDS/ETF15,610 ISHARES CORE S&P MIDCAP 400 ETF 94.45 1,474,345 229.83 3,587,646 10.69 NADOMESTIC SMALL CAP EQUITY FUNDS/ETF21,429 ISHARES S&P SMALLCAP 600 INDEX ETF 41.51 889,547 91.90 1,969,325 5.87 NAINTERNATIONAL EQUITY FUNDS/ETF19,811 ISHARES ETF CORE MSCI EAFE 55.79 1,105,233 69.09 1,368,742 4.08 NA27,953 ISHARES MSCI EAFE INDEX FUND 63.35 1,770,855 72.96 2,039,451 6.08 NA2,876,088 3,408,193 10.15EMERGING MARKET FUNDS/ETF28,567 ISHARES ETF CORE MSCI EMERGING MKTS 43.29 1,236,708 62.04 1,772,297 5.28 NAREAL ESTATE & INFRASTRUCTURE18,500 FLEXSHAR STX GLOBAL BROAD INF ETF 49.28 911,75653.76 994,560 2.96 NA6,170 JPMORGAN BETABUILDERS MSCI US REIT ETF 76.81 473,927 79.15 488,355 1.46 NA4,335 PACER INDUSTRIAL REAL ESTATE ETF 35.08152,072 36.80 159,528 0.48 NA1,537,755 1,642,443 4.89Page 125
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISALCITY OF KENAI PERMANENT FUNDSDecember 31, 2020YieldAverage Total Market Pct. Annual Accrued toQuantity Security Cost Average Cost Price Value Assets Income Interest MaturityU.S. TREASURY 40,000 US TREASURY NOTES 101.31 40,524 101.87 40,747 0.12 800 2 0.132.000% Due 12-31-21150,000 US TREASURY NOTES 100.09 150,129101.89 152,836 0.46 2,812 1,177 0.131.875% Due 01-31-22285,000 US TREASURY NOTES 99.70 284,158 102.99 293,527 0.87 6,056 17 0.132.125% Due 06-30-2250,000 US TREASURY NOTES 100.02 50,010 100.02 50,008 0.15 62 26 0.110.125% Due 07-31-22300,000 US TREASURY NOTE 99.91 299,742 100.02 300,048 0.89 375 64 0.120.125% Due 10-31-22280,000 US TREASURY NOTES 99.72 279,213105.36 295,016 0.88 7,350 2,497 0.142.625% Due 02-28-2320,000 US TREASURY NOTES 100.00 19,999 99.95 19,991 0.06 25 12 0.140.125% Due 07-15-23190,000 US TREASURY NOTE 99.75189,532 99.93 189,867 0.57 237 51 0.150.125% Due 10-15-23150,000 US TREASURY NOTES 99.41 149,109 104.18 156,264 0.47 2,437 417 0.151.625% Due 10-31-23425,000 US TREASURY NOTES 101.53 431,507107.78 458,052 1.36 10,094 3,813 0.222.375% Due 08-15-24205,000 US TREASURY NOTES 104.70 214,633104.50 214,225 0.64 2,819 1,180 0.271.375% Due 01-31-2575,000 US TREASURY NOTES 99.71 74,780 110.89 83,165 0.25 2,062 6 0.312.750% Due 06-30-2520,000 US TREASURY NOTES 100.16 20,032 99.71 19,941 0.06 50 21 0.310.250% Due 07-31-25210,000 US TREASURY NOTES 99.75 209,482110.86 232,804 0.69 5,250 1,784 0.372.500% Due 02-28-2675,000 US TREASURY NOTES 95.63 71,726 106.48 79,858 0.24 1,219 158 0.411.625% Due 05-15-26250,000 US TREASURY NOTES 95.26 238,145 108.84 272,100 0.81 5,000 649 0.472.000% Due 11-15-2615,000 US TREASURY NOTES 99.90 14,985 98.69 14,803 0.04 56 24 0.580.375% Due 07-31-27300,000 US TREASURY NOTES 102.38 307,141118.40 355,194 1.06 9,375 1,217 0.723.125% Due 11-15-28240,000 US TREASURY NOTES 101.74 244,179114.80 275,513 0.82 6,300 2,380 0.742.625% Due 02-15-29225,000 US TREASURY NOTES 108.51 244,143105.79 238,034 0.71 3,375 1,275 0.841.500% Due 02-15-3010,000 US TREASURY NOTES 100.79 10,079 97.77 9,777 0.03 62 8 0.870.625% Due 05-15-30330,000 US TREASURY NOTE 99.73 329,098 97.50 321,750 0.96 2,062 779 0.900.625% Due 08-15-30Page 126
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISALCITY OF KENAI PERMANENT FUNDSDecember 31, 2020YieldAverage Total Market Pct. Annual Accrued toQuantity Security Cost Average Cost Price Value Assets Income Interest Maturity325,000 US TREASURY NOTES 127.11 413,113143.32 465,790 1.39 12,594 4,757 1.353.875% Due 08-15-4055,000 US TREASURY NOTES 117.36 64,546 131.16 72,138 0.21 1,719 649 1.473.125% Due 02-15-43500,000 US TREASURY NOTES 102.98 514,907129.11 645,545 1.92 14,375 1,866 1.602.875% Due 05-15-4915,000 US TREASURY NOTES 100.74 15,111 90.72 13,608 0.04 187 24 1.651.250% Due 05-15-5050,000 US TREASURY NOTES 98.39 49,195 99.62 49,812 0.15 812 105 1.641.625% Due 11-15-50Accrued Interest24,958 0.074,929,218 5,345,372 15.93 24,958AGENCIES125,000 FEDERAL HOME LOAN BANK 99.90 124,875 99.66 124,571 0.37 750 258 0.670.600% Due 08-27-25125,000 FHLB 104.27 130,335 106.71133,385 0.40 2,031 615 0.521.625% Due 03-12-27Accrued Interest873 0.00255,210 258,830 0.77 873CASH AND EQUIVALENTSDIVIDEND ACCRUAL 28,928 28,928 0.09WF ADV GOVT MM FD-INSTL #1751 2,069,379 2,069,379 6.172,098,307 2,098,307 6.25TOTAL PORTFOLIO 25,049,290 33,562,115 100 299,167 62,936Page 127
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity AmountPURCHASESFNMA & FHLMC12-17-20 12-21-20 FN CA7738 MTGE 114,683.08 121,151.922.500% Due 11-01-5012-17-20 12-21-20 FR RB5095 MTGE 115,000.00 119,411.332.000% Due 01-01-4112-17-20 12-21-20 FN MA4237 MTGE 115,000.00 119,294.532.000% Due 01-01-51359,857.78U.S. TREASURY 12-18-20 12-21-20 US TREASURY NOTES 50,000 49,195.311.625% Due 11-15-50409,053.09DEPOSITS AND EXPENSESMANAGEMENT FEES12-31-20 12-31-20 MANAGEMENT FEES 4,463.514,463.51DividendDOMESTIC LARGE CAP EQUITY FUNDS/ETF12-18-20 01-29-21 SPDR S&P 500 ETF 28,928.2212-24-20 12-24-20 FLEXSHARES QUAL DIV ETF1,068.5029,996.72DOMESTIC MID CAP EQUITY FUNDS/ETF12-18-20 12-18-20 ISHARES CORE S&P MIDCAP 400 ETF10,296.81DOMESTIC SMALL CAP EQUITY FUNDS/ETF12-18-20 12-18-20 ISHARES S&P SMALLCAP 600 INDEX ETF5,308.03Page 128
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity AmountEMERGING MARKET FUNDS/ETF12-18-20 12-18-20 ISHARES ETF CORE MSCI EMERGING MKTS20,668.20INTERNATIONAL EQUITY FUNDS/ETF12-18-20 12-18-20 ISHARES MSCI EAFE INDEX FUND19,413.2212-18-20 12-18-20 ISHARES ETF CORE MSCI EAFE12,129.5631,542.78REAL ESTATE & INFRASTRUCTURE12-24-20 12-24-20 FLEXSHAR STX GLOBAL BROAD INF ETF6,194.0612-28-20 12-28-20 JPMORGAN BETABUILDERS MSCI US REIT ETF5,993.9712-28-20 12-28-20 PACER INDUSTRIAL REAL ESTATE ETF1,104.0913,292.12111,104.66InterestCASH AND EQUIVALENTS12-01-20 12-01-20 WF ADV GOVT MM FD-INSTL #175113.71CORPORATE BONDS12-14-20 12-14-20 REYNOLDS AMERICAN INC3,337.504.450% Due 06-12-2512-15-20 12-15-20 AFLAC INC 1,812.503.625% Due 06-15-235,150.00Page 129
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity AmountFNMA & FHLMC12-15-20 12-15-20 FHLMC POOL G14203 39.354.000% Due 04-01-2612-15-20 12-15-20 FG POOL G16255 227.572.500% Due 07-01-3212-15-20 12-15-20 FG POOL G08722 559.493.500% Due 09-01-4612-15-20 12-15-20 FG POOL C91270 397.974.500% Due 10-01-2912-15-20 12-15-20 FG POOL J30401 247.953.000% Due 01-01-3012-15-20 12-15-20 FG POOL V80057 522.653.000% Due 05-01-4312-15-20 12-15-20 FG G61893 243.003.000% Due 07-01-4712-28-20 12-28-20 FR QA5517 183.413.000% Due 12-01-4912-28-20 12-28-20 FR RA1343 200.513.000% Due 09-01-4912-28-20 12-28-20 FN POOL AJ1405 930.854.000% Due 09-01-4112-28-20 12-28-20 FN POOL AT2324 364.593.000% Due 01-01-4312-28-20 12-28-20 FN AS8483 175.093.000% Due 12-01-4612-28-20 12-28-20 FN POOL AS8810 1,055.183.500% Due 02-01-4712-28-20 12-28-20 FN POOL AL3180 340.493.000% Due 05-01-4312-28-20 12-28-20 FN POOL BD2453 221.433.000% Due 01-01-4712-28-20 12-28-20 FANNIE MAE POOL 205.062.500% Due 05-01-5012-28-20 12-28-20 FANNIE MAE POOL 362.652.500% Due 08-01-5012-28-20 12-28-20 FNCL POOL 995373 403.934.500% Due 02-01-39Page 130
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity Amount12-28-20 12-28-20 FN POOL MA2930 398.834.000% Due 03-01-4712-28-20 12-28-20 FN MA3305 321.813.500% Due 03-01-4812-28-20 12-28-20 FN MA3276 173.953.500% Due 02-01-4812-28-20 12-28-20 FN POOL MA3638 126.734.000% Due 04-01-4912-28-20 12-28-20 FN MA3834 161.303.000% Due 11-01-4912-28-20 12-28-20 FN MA3871 170.213.000% Due 12-01-4912-28-20 12-28-20 FN MA3960 186.713.000% Due 03-01-508,220.71U.S. TREASURY 12-31-20 12-31-20 US TREASURY NOTES 400.002.000% Due 12-31-2112-31-20 12-31-20 US TREASURY NOTES 3,028.132.125% Due 06-30-2212-31-20 12-31-20 US TREASURY NOTES 1,031.252.750% Due 06-30-254,459.3817,843.80PRINCIPAL PAYDOWNSFNMA & FHLMC12-15-20 12-15-20 FHLMC POOL G14203 476.12 476.124.000% Due 04-01-2612-15-20 12-15-20 FG POOL G16255 3,269.73 3,269.732.500% Due 07-01-3212-15-20 12-15-20 FG POOL G08722 10,051.65 10,051.653.500% Due 09-01-4612-15-20 12-15-20 FG POOL C91270 2,285.32 2,285.324.500% Due 10-01-29Page 131
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity Amount12-15-20 12-15-20 FG POOL J30401 3,017.26 3,017.263.000% Due 01-01-3012-15-20 12-15-20 FG POOL V80057 3,385.63 3,385.633.000% Due 05-01-4312-15-20 12-15-20 FG G61893 4,560.81 4,560.813.000% Due 07-01-4712-25-20 12-28-20 FR QA5517 4,807.80 4,807.803.000% Due 12-01-4912-25-20 12-28-20 FR RA1343 3,184.47 3,184.473.000% Due 09-01-4912-25-20 12-28-20 FN POOL AJ1405 3,781.97 3,781.974.000% Due 09-01-4112-25-20 12-28-20 FN POOL AT2324 2,130.65 2,130.653.000% Due 01-01-4312-25-20 12-28-20 FN AS8483 3,391.21 3,391.213.000% Due 12-01-4612-25-20 12-28-20 FN POOL AS8810 15,763.93 15,763.933.500% Due 02-01-4712-25-20 12-28-20 FN POOL AL3180 390.24 390.243.000% Due 05-01-4312-25-20 12-28-20 FN POOL BD2453 1,450.33 1,450.333.000% Due 01-01-4712-25-20 12-28-20 FANNIE MAE POOL 229.36 229.362.500% Due 05-01-5012-25-20 12-28-20 FANNIE MAE POOL 3,138.66 3,138.662.500% Due 08-01-5012-25-20 12-28-20 FNCL POOL 995373 2,443.24 2,443.244.500% Due 02-01-3912-25-20 12-28-20 FN POOL MA2930 6,711.39 6,711.394.000% Due 03-01-4712-25-20 12-28-20 FN MA3305 7,603.86 7,603.863.500% Due 03-01-4812-25-20 12-28-20 FN MA3276 3,847.00 3,847.003.500% Due 02-01-4812-25-20 12-28-20 FN POOL MA3638 2,517.14 2,517.144.000% Due 04-01-49Page 132
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity Amount12-25-20 12-28-20 FN MA3834 4,433.62 4,433.623.000% Due 11-01-4912-25-20 12-28-20 FN MA3871 4,566.74 4,566.743.000% Due 12-01-4912-25-20 12-28-20 FN MA3960 4,900.14 4,900.143.000% Due 03-01-50102,338.27102,338.27Purchased Accrued InterestFNMA & FHLMC12-17-20 12-21-20 FN CA7738 MTGE 159.282.500% Due 11-01-5012-17-20 12-21-20 FR RB5095 MTGE 127.782.000% Due 01-01-4112-17-20 12-21-20 FN MA4237 MTGE 127.782.000% Due 01-01-51414.84U.S. TREASURY 12-18-20 12-21-20 US TREASURY NOTES 80.801.625% Due 11-15-50495.64SALES, MATURITIES, AND CALLSU.S. TREASURY 12-18-20 12-21-20 US TREASURY NOTES 110,000 111,190.232.125% Due 06-30-2112-18-20 12-21-20 US TREASURY NOTES 240,000 241,528.131.125% Due 07-31-2112-18-20 12-21-20 US TREASURY NOTES 10,000 10,132.422.000% Due 08-31-21Page 133
Alaska Permanent Capital Management Co.TRANSACTION SUMMARY CITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TradeDate Date Security Quantity Amount12-18-20 12-21-20 US TREASURY NOTES 50,000 50,544.921.500% Due 09-30-21413,395.70413,395.70Sold Accrued InterestU.S. TREASURY 12-18-20 12-21-20 US TREASURY NOTES 1,105.232.125% Due 06-30-2112-18-20 12-21-20 US TREASURY NOTES 1,049.181.125% Due 07-31-2112-18-20 12-21-20 US TREASURY NOTES 61.882.000% Due 08-31-2112-18-20 12-21-20 US TREASURY NOTES 168.961.500% Due 09-30-212,385.252,385.25WithdrawCASH AND EQUIVALENTS12-21-20 12-21-20 WF ADV GOVT MM FD-INSTL #1751443.46443.46Page 134
Alaska Permanent Capital Management Co.REALIZED GAINS AND LOSSESCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 Through 12-31-20Avg. CostDate Quantity Security Basis Proceeds Gain Or Loss12-15-20 476.12 FHLMC POOL G14203 497.84 476.12 -21.724.000% Due 04-01-2612-15-20 3,269.73 FG POOL G16255 3,260.02 3,269.73 9.712.500% Due 07-01-3212-15-20 10,051.65 FG POOL G08722 10,261.32 10,051.65 -209.673.500% Due 09-01-4612-15-20 2,285.32 FG POOL C91270 2,414.94 2,285.32 -129.624.500% Due 10-01-2912-15-20 3,017.26 FG POOL J30401 3,056.39 3,017.26 -39.133.000% Due 01-01-3012-15-20 3,385.63 FG POOL V80057 3,393.57 3,385.63 -7.943.000% Due 05-01-4312-15-20 4,560.81 FG G61893 4,612.83 4,560.81 -52.023.000% Due 07-01-4712-18-20 110,000 US TREASURY NOTES 109,269.53 111,190.23 1,920.702.125% Due 06-30-2112-18-20 240,000 US TREASURY NOTES 238,020.82 241,528.13 3,507.311.125% Due 07-31-2112-18-20 10,000 US TREASURY NOTES 10,065.62 10,132.42 66.792.000% Due 08-31-2112-18-20 50,000 US TREASURY NOTES 49,898.44 50,544.92 646.481.500% Due 09-30-2112-25-20 4,807.80 FR QA5517 4,918.98 4,807.80 -111.183.000% Due 12-01-4912-25-20 3,184.47 FR RA1343 3,333.74 3,184.47 -149.273.000% Due 09-01-4912-25-20 3,781.97 FN POOL AJ1405 3,951.57 3,781.97 -169.604.000% Due 09-01-4112-25-20 2,130.65 FN POOL AT2324 2,134.98 2,130.65 -4.333.000% Due 01-01-4312-25-20 3,391.21 FN AS8483 3,491.36 3,391.21 -100.153.000% Due 12-01-4612-25-20 15,763.93 FN POOL AS8810 16,085.37 15,763.93 -321.443.500% Due 02-01-4712-25-20 390.24 FN POOL AL3180 391.03 390.24 -0.793.000% Due 05-01-43Page 135
Alaska Permanent Capital Management Co.REALIZED GAINS AND LOSSESCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 Through 12-31-20Avg. CostDate Quantity Security Basis Proceeds Gain Or Loss12-25-20 1,450.33 FN POOL BD2453 1,448.74 1,450.33 1.593.000% Due 01-01-4712-25-20 229.36 FANNIE MAE POOL 240.79 229.36 -11.432.500% Due 05-01-5012-25-20 3,138.66 FANNIE MAE POOL 3,299.03 3,138.66 -160.372.500% Due 08-01-5012-25-20 2,443.24 FNCL POOL 995373 2,607.40 2,443.24 -164.164.500% Due 02-01-3912-25-20 6,711.39 FN POOL MA2930 6,950.48 6,711.39 -239.094.000% Due 03-01-4712-25-20 7,603.86 FN MA3305 7,833.16 7,603.86 -229.303.500% Due 03-01-4812-25-20 3,847.00 FN MA3276 4,068.20 3,847.00 -221.203.500% Due 02-01-4812-25-20 2,517.14 FN POOL MA3638 2,595.01 2,517.14 -77.874.000% Due 04-01-4912-25-20 4,433.62 FN MA3834 4,517.79 4,433.62 -84.173.000% Due 11-01-4912-25-20 4,566.74 FN MA3871 4,653.79 4,566.74 -87.053.000% Due 12-01-4912-25-20 4,900.14 FN MA3960 5,013.46 4,900.14 -113.323.000% Due 03-01-50TOTAL GAINS 6,152.58TOTAL LOSSES -2,704.82512,286.22 515,733.97 3,447.75Page 136
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security AmountWF ADV GOVT MM FD-INSTL #175112-01-20 Beginning Balance 1,861,231.4412-01-20 12-01-20 dp Interest WF ADV GOVT MM FD-INSTL #175113.7112-14-20 12-14-20 dp Interest REYNOLDS AMERICAN INC 3,337.504.450% Due 06-12-2512-15-20 12-15-20 dp Interest AFLAC INC 1,812.503.625% Due 06-15-2312-15-20 12-15-20 dp Paydown FHLMC POOL G14203 476.124.000% Due 04-01-2612-15-20 12-15-20 dp Interest FHLMC POOL G14203 39.354.000% Due 04-01-2612-15-20 12-15-20 dp Interest FG POOL G16255 227.572.500% Due 07-01-3212-15-20 12-15-20 dp Paydown FG POOL G16255 3,269.732.500% Due 07-01-3212-15-20 12-15-20 dp Paydown FG POOL G08722 10,051.653.500% Due 09-01-4612-15-20 12-15-20 dp Interest FG POOL G08722 559.493.500% Due 09-01-4612-15-20 12-15-20 dp Interest FG POOL C91270 397.974.500% Due 10-01-2912-15-20 12-15-20 dp Paydown FG POOL C91270 2,285.324.500% Due 10-01-2912-15-20 12-15-20 dp Paydown FG POOL J30401 3,017.263.000% Due 01-01-3012-15-20 12-15-20 dp Interest FG POOL J30401 247.953.000% Due 01-01-3012-15-20 12-15-20 dp Interest FG POOL V80057 522.653.000% Due 05-01-43Page 137
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security Amount12-15-20 12-15-20 dp Paydown FG POOL V80057 3,385.633.000% Due 05-01-4312-15-20 12-15-20 dp Paydown FG G61893 4,560.813.000% Due 07-01-4712-15-20 12-15-20 dp Interest FG G61893 243.003.000% Due 07-01-4712-17-20 12-21-20 wd Purchase FN CA7738 MTGE -121,151.922.500% Due 11-01-5012-17-20 12-21-20 wd Accrued Interest FN CA7738 MTGE -159.282.500% Due 11-01-5012-17-20 12-21-20 wd Purchase FR RB5095 MTGE -119,411.332.000% Due 01-01-4112-17-20 12-21-20 wd Accrued Interest FR RB5095 MTGE -127.782.000% Due 01-01-4112-17-20 12-21-20 wd Purchase FN MA4237 MTGE -119,294.532.000% Due 01-01-5112-17-20 12-21-20 wd Accrued Interest FN MA4237 MTGE -127.782.000% Due 01-01-5112-18-20 12-21-20 dp Sale US TREASURY NOTES 111,190.232.125% Due 06-30-2112-18-20 12-21-20 dp Accrued Interest US TREASURY NOTES 1,105.232.125% Due 06-30-2112-18-20 12-21-20 dp Sale US TREASURY NOTES 241,528.131.125% Due 07-31-2112-18-20 12-21-20 dp Accrued Interest US TREASURY NOTES 1,049.181.125% Due 07-31-2112-18-20 12-21-20 dp Sale US TREASURY NOTES 10,132.422.000% Due 08-31-2112-18-20 12-21-20 dp Accrued Interest US TREASURY NOTES 61.882.000% Due 08-31-21Page 138
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security Amount12-18-20 12-21-20 dp Sale US TREASURY NOTES 50,544.921.500% Due 09-30-2112-18-20 12-21-20 dp Accrued Interest US TREASURY NOTES 168.961.500% Due 09-30-2112-18-20 12-21-20 wd Purchase US TREASURY NOTES -49,195.311.625% Due 11-15-5012-18-20 12-21-20 wd Accrued Interest US TREASURY NOTES -80.801.625% Due 11-15-5012-18-20 12-18-20 dp Dividend ISHARES MSCI EAFE INDEX FUND19,413.2212-18-20 12-18-20 dp Dividend ISHARES ETF CORE MSCI EAFE 12,129.5612-18-20 12-18-20 dp Dividend ISHARES ETF CORE MSCI EMERGING MKTS20,668.2012-18-20 12-18-20 dp Dividend ISHARES CORE S&P MIDCAP 400 ETF10,296.8112-18-20 12-18-20 dp Dividend ISHARES S&P SMALLCAP 600 INDEX ETF5,308.0312-21-20 12-21-20 wd Withdrawal from Portfolio -443.4612-24-20 12-24-20 dp Dividend FLEXSHAR STX GLOBAL BROAD INF ETF6,194.0612-24-20 12-24-20 dp Dividend FLEXSHARES QUAL DIV ETF 1,068.5012-25-20 12-28-20 dp Paydown FR QA5517 4,807.803.000% Due 12-01-4912-25-20 12-28-20 dp Paydown FR RA1343 3,184.473.000% Due 09-01-4912-25-20 12-28-20 dp Paydown FN POOL AJ1405 3,781.974.000% Due 09-01-4112-25-20 12-28-20 dp Paydown FN POOL AT2324 2,130.653.000% Due 01-01-4312-25-20 12-28-20 dp Paydown FN AS8483 3,391.213.000% Due 12-01-46Page 139
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security Amount12-25-20 12-28-20 dp Paydown FN POOL AS8810 15,763.933.500% Due 02-01-4712-25-20 12-28-20 dp Paydown FN POOL AL3180 390.243.000% Due 05-01-4312-25-20 12-28-20 dp Paydown FN POOL BD2453 1,450.333.000% Due 01-01-4712-25-20 12-28-20 dp Paydown FANNIE MAE POOL 229.362.500% Due 05-01-5012-25-20 12-28-20 dp Paydown FANNIE MAE POOL 3,138.662.500% Due 08-01-5012-25-20 12-28-20 dp Paydown FNCL POOL 995373 2,443.244.500% Due 02-01-3912-25-20 12-28-20 dp Paydown FN POOL MA2930 6,711.394.000% Due 03-01-4712-25-20 12-28-20 dp Paydown FN MA3305 7,603.863.500% Due 03-01-4812-25-20 12-28-20 dp Paydown FN MA3276 3,847.003.500% Due 02-01-4812-25-20 12-28-20 dp Paydown FN POOL MA3638 2,517.144.000% Due 04-01-4912-25-20 12-28-20 dp Paydown FN MA3834 4,433.623.000% Due 11-01-4912-25-20 12-28-20 dp Paydown FN MA3871 4,566.743.000% Due 12-01-4912-25-20 12-28-20 dp Paydown FN MA3960 4,900.143.000% Due 03-01-5012-28-20 12-28-20 dp Dividend JPMORGAN BETABUILDERS MSCI US REIT ETF5,993.9712-28-20 12-28-20 dp Dividend PACER INDUSTRIAL REAL ESTATE ETF1,104.09Page 140
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security Amount12-28-20 12-28-20 dp Interest FR QA5517 183.413.000% Due 12-01-4912-28-20 12-28-20 dp Interest FR RA1343 200.513.000% Due 09-01-4912-28-20 12-28-20 dp Interest FN POOL AJ1405 930.854.000% Due 09-01-4112-28-20 12-28-20 dp Interest FN POOL AT2324 364.593.000% Due 01-01-4312-28-20 12-28-20 dp Interest FN AS8483 175.093.000% Due 12-01-4612-28-20 12-28-20 dp Interest FN POOL AS8810 1,055.183.500% Due 02-01-4712-28-20 12-28-20 dp Interest FN POOL AL3180 340.493.000% Due 05-01-4312-28-20 12-28-20 dp Interest FN POOL BD2453 221.433.000% Due 01-01-4712-28-20 12-28-20 dp Interest FANNIE MAE POOL 205.062.500% Due 05-01-5012-28-20 12-28-20 dp Interest FANNIE MAE POOL 362.652.500% Due 08-01-5012-28-20 12-28-20 dp Interest FNCL POOL 995373 403.934.500% Due 02-01-3912-28-20 12-28-20 dp Interest FN POOL MA2930 398.834.000% Due 03-01-4712-28-20 12-28-20 dp Interest FN MA3305 321.813.500% Due 03-01-4812-28-20 12-28-20 dp Interest FN MA3276 173.953.500% Due 02-01-4812-28-20 12-28-20 dp Interest FN POOL MA3638 126.734.000% Due 04-01-49Page 141
Alaska Permanent Capital Management Co.CASH LEDGERCITY OF KENAI PERMANENT FUNDSFrom 12-01-20 To 12-31-20Trade Settle TranDate Date Code Activity Security Amount12-28-20 12-28-20 dp Interest FN MA3834 161.303.000% Due 11-01-4912-28-20 12-28-20 dp Interest FN MA3871 170.213.000% Due 12-01-4912-28-20 12-28-20 dp Interest FN MA3960 186.713.000% Due 03-01-5012-31-20 12-31-20 dp Interest US TREASURY NOTES 400.002.000% Due 12-31-2112-31-20 12-31-20 dp Interest US TREASURY NOTES 3,028.132.125% Due 06-30-2212-31-20 12-31-20 dp Interest US TREASURY NOTES 1,031.252.750% Due 06-30-2512-31-20 Ending Balance 2,069,378.71DIVIDEND ACCRUAL12-01-20 Beginning Balance 0.0012-18-20 01-29-21 dp Dividend SPDR S&P 500 ETF 28,928.2212-31-20 Ending Balance 28,928.22Page 142
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISAL sort by CUSIPCITY OF KENAI PERMANENT FUNDSDecember 31, 2020Unit Total Market Accrued AnnualCusip9 Original Face Quantity Security Cost Cost Price Value Interest IncomeFNMA & FHLMC3128MC3L7 256,397.0000 11,329.4600 FHLMC POOL G14203104.562501 11,846.37 106.3690012,051.03 37.76 453.183128MFE46 190,000.0000 105,963.9800 FG POOL G16255 99.703123 105,649.40 106.58500 112,941.71 220.76 2,649.103128MJYU8 477,000.0000 181,772.0500 FG POOL G08722 102.085937 185,563.70 107.03000 194,550.63 530.17 6,362.023128P7MT7 2,000,000.0000 103,841.2200 FG POOL C91270 105.671877 109,730.97 109.32000 113,519.22 389.40 4,672.8531307LNS3 301,000.0000 96,161.6300 FG POOL J30401 101.296875 97,408.73 107.54000 103,412.22 240.40 2,884.853132L5B28 450,000.0000 205,674.7100 FG POOL V80057 100.234376 206,156.76 109.39600 224,999.91 514.19 6,170.2431335CC69 150,000.0000 92,637.4900 FG G61893 101.140626 93,694.14 105.12000 97,380.53 231.59 2,779.123133A0DW1 100,000.0000 68,555.7600 FR QA5517 102.312497 70,141.11 104.80400 71,849.18 171.39 2,056.673133KGP44 100,000.0000 77,021.2700 FR RA1343 104.687501 80,631.64 106.60500 82,108.52 192.55 2,310.643133KYUU1115,000.0000 115,000.0000 FR RB5095 MTGE 103.835939 119,411.33 103.98900 119,587.35 191.67 2,300.003138ASR38 1,500,000.0000 275,473.3200 FN POOL AJ1405 104.484375 287,826.58 110.07400 303,224.50 918.24 11,018.933138EKRA5 374,582.0000 143,706.3800 FN POOL AT2324 100.203126 143,998.28 108.81400 156,372.66 71.85 4,311.193138WJM96 125,000.0000 66,646.4200 FN AS8483 102.953126 68,614.57 105.52500 70,328.63 166.62 1,999.393138WJYG7 783,285.0000 346,013.6800 FN POOL AS8810 102.039062353,069.11 106.52100 368,577.23 1,009.21 12,110.483138WPSN5 335,507.0000 135,805.2700 FN POOL AL3180 100.203125 136,081.12 108.81500 147,776.50 339.51 4,074.163140F9WP6 139,000.0000 87,120.8800 FN POOL BD2453 99.890625 87,025.59 108.37100 94,413.77 217.80 2,613.633140KESQ2 100,000.0000 98,199.9500 FANNIE MAE POOL 104.984378 103,094.61 105.50700 103,607.82 204.58 2,455.003140KLRM6 175,000.0000 170,932.3900 FANNIE MAE POOL 105.109373 179,665.96 105.92600 181,061.84 356.11 4,273.313140QFS42 115,000.0000 114,683.0800 FN CA7738 MTGE 105.640623121,151.92 105.65200 121,164.97 238.92 2,867.0831416BXA1 4,000,000.0000 105,270.8400 FNCL POOL 995373 106.718781 112,343.76 112.23900 118,154.94 394.77 4,737.1931418CHG2 148,000.0000 112,937.2600 FN POOL MA2930 103.562500 116,960.65 107.67500 121,605.19 376.46 4,517.4931418CU77 225,000.0000 102,731.1800 FN MA3305 103.015627 105,829.17 105.96200 108,856.01 299.63 3,595.5931418CUA0 125,000.0000 55,792.1200 FN MA3276 105.750001 59,000.17 106.11200 59,202.13 162.73 1,952.7231418DBG6 101,000.0000 35,502.8000 FN POOL MA3638 103.093756 36,601.17 106.79800 37,916.28 118.34 1,420.1131418DHL9 100,000.0000 60,084.5900 FN MA3834 101.898438 61,225.26 104.86400 63,007.10 150.21 1,802.5431418DJR4 100,000.0000 63,516.6100 FN MA3871 101.906254 64,727.40 104.70700 66,506.34 158.79 1,905.5031418DMJ8 100,000.0000 69,782.6300 FN MA3960 102.312502 71,396.35 104.83200 73,154.53 174.46 2,093.4831418DV74 115,000.0000 115,000.0000 FN MA4237 MTGE 103.734374119,294.53 103.88800 119,471.20 191.67 2,300.00Accrued I8,269.793,308,140.35 3,455,071.75 8,269.79 102,686.47CORPORATE BONDS001055AL6 100,000.0000 100,000.0000 AFLAC INC 104.975000104,975.00 107.82000 107,820.00 161.11 3,625.0000206RDG4 100,000.0000 100,000.0000 AT&T INC 119.320000119,320.00 146.80400 146,804.00 2,125.00 6,375.0000287YAL3 100,000.0000 100,000.0000 ABBVIE INC 101.307000101,307.00 104.60800 104,608.00 443.06 2,900.00035240AL4 100,000.0000 100,000.0000 ANHEUSER-BUSCH INBEV WORLDWIDE114.309000 114,309.00 117.89600 117,896.00 866.67 4,000.0005348EAR0 100,000.0000 100,000.0000 AVALONBAY COMMUNITIES 100.816000 100,816.00 104.37300 104,373.00 839.17 2,850.0006051GGG8100,000.0000 100,000.0000 BANK OF AMERICA CORP 106.308000 106,308.00 132.36000 132,360.00 1,987.01 4,443.0006406FAD5 200,000.0000 200,000.0000 BANK OF NEW YORK MELLON 97.833000 195,666.00 104.75400 209,508.00 1,650.00 4,400.0014149YBD9 100,000.0000 100,000.0000 CARDINAL HEALTH 111.470000 111,470.00 123.10300 123,103.00 1,442.78 4,900.00172967KG5 150,000.0000 150,000.0000 CITIGROUP INC 101.647000 152,470.50 113.63600 170,454.00 2,605.42 5,550.0029250NAR6 100,000.0000 100,000.0000 ENBRIDGE INC 101.135000 101,135.00 113.97200 113,972.00 1,706.11 3,700.00369550BL1 100,000.0000 100,000.0000 GENERAL DYNAMICS CORP106.120000 106,120.00 115.04000 115,040.00 875.00 3,500.0038141GRD8 100,000.0000 100,000.0000 GOLDMAN SACHS GROUP INC 101.985000 101,985.00 106.71300 106,713.00 1,601.04 3,625.00437076BD3 100,000.0000 100,000.0000 HOME DEPOT INC 115.627000 115,627.00 142.28200 142,282.00 1,841.67 4,875.00458140BH2 100,000.0000 100,000.0000 INTEL CORP 105.622000105,622.00 108.47600 108,476.00 313.06 2,450.00Page 143
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISAL sort by CUSIPCITY OF KENAI PERMANENT FUNDSDecember 31, 2020Unit Total Market Accrued AnnualCusip9 Original Face Quantity Security Cost Cost Price Value Interest Income46625HJT8 200,000.0000 200,000.0000 JPMORGAN CHASE & CO105.181000 210,362.00 110.04400 220,088.00 3,229.17 7,750.0049446RAU3 150,000.0000 150,000.0000 KIMCO REALTY CORP94.918000 142,377.00 109.30700 163,960.50 2,062.50 4,950.00501044DE8 100,000.0000 100,000.0000 KROGER CO 99.820000 99,820.00 109.23000 109,230.00 559.44 2,650.0061746BDQ6 100,000.0000 100,000.0000 MORGAN STANLEY IND FINANCIAL S103.711000 103,711.00 110.78200 110,782.00 667.36 3,875.0067077MAX6 75,000.0000 75,000.0000 NUTRIEN LTD 99.738000 74,803.50 121.96600 91,474.50 395.00 2,962.50761713BG0 150,000.0000 150,000.0000 REYNOLDS AMERICAN INC108.467000 162,700.50 113.89900 170,848.50 352.29 6,675.00855244AN9 75,000.0000 75,000.0000 STARBUCKS CORP 98.53600073,902.00 105.63500 79,226.25 775.00 2,325.00871829BH9 100,000.0000 100,000.0000 Sysco Corporation120.536000 120,536.00 122.06000 122,060.00 1,310.28 4,450.0094974BGA2 100,000.0000 100,000.0000 WELLS FARGO & COMPANY 99.882000 99,882.00 109.52100 109,521.00 1,026.67 3,300.00Accrued I28,834.792,725,224.50 3,009,434.54 28,834.79 96,130.50DOMESTIC LARGE CAP EQUITY FUNDS/ETF33939L860 3,435.0000 3,435.0000 FLEXSHARES QUAL DIV ETF 40.528831 139,216.54 49.44000 169,826.40 0.0078462F103 18,309.0000 18,309.0000 SPDR S&P 500 ETF 195.506623 3,579,530.77 373.88000 6,845,368.92 0.003,718,747.30 7,015,195.32 0.00DOMESTIC MID CAP EQUITY FUNDS/ETF464287507 15,610.0000 15,610.0000 ISHARES CORE S&P MIDCAP 400 ET94.448721 1,474,344.54229.83000 3,587,646.30 0.00DOMESTIC SMALL CAP EQUITY FUNDS/ETF464287804 21,429.0000 21,429.0000 ISHARES S&P SMALLCAP 600 INDEX41.511377 889,547.31 91.90000 1,969,325.10 0.00INTERNATIONAL EQUITY FUNDS/ETF464287465 27,953.0000 27,953.0000 ISHARES MSCI EAFE INDEX FUND 63.351165 1,770,855.13 72.96000 2,039,450.88 0.0046432F842 19,811.0000 19,811.0000 ISHARES ETF CORE MSCI EAFE 55.788830 1,105,232.51 69.09000 1,368,741.99 0.002,876,087.63 3,408,192.87 0.00EMERGING MARKET FUNDS/ETF46434G103 28,567.0000 28,567.0000 ISHARES ETF CORE MSCI EMERGING43.291505 1,236,708.4262.04000 1,772,296.68 0.00REAL ESTATE & INFRASTRUCTURE33939L795 18,500.0000 18,500.0000 FLEXSHAR STX GLOBAL BROAD INF 49.284090 911,755.67 53.76000994,560.00 0.0046641Q738 6,170.0000 6,170.0000 JPMORGAN BETABUILDERS MSCI US 76.811552 473,927.27 79.15000488,355.50 0.0069374H766 4,335.0000 4,335.0000 PACER INDUSTRIAL REAL ESTATE E35.080000 152,071.80 36.80000159,528.00 0.001,537,754.74 1,642,443.50 0.00U.S. TREASURY 912810QK7 325,000.0000 325,000.0000 US TREASURY NOTES 127.111805 413,113.37 143.32000 465,790.00 4,756.88 12,593.75912810QZ4 55,000.0000 55,000.0000 US TREASURY NOTES 117.355473 64,545.51 131.16000 72,138.00 649.20 1,718.75912810SH2 500,000.0000 500,000.0000 US TREASURY NOTES 102.981445 514,907.22 129.10900 645,545.00 1,866.37 14,375.00912810SN9 15,000.0000 15,000.0000 US TREASURY NOTES100.738267 15,110.74 90.7190013,607.85 24.34 187.50912810SS8 50,000.0000 50,000.0000 US TREASURY NOTES 98.390620 49,195.31 99.62500 49,812.50 105.49 812.509128284A5 280,000.0000 280,000.0000 US TREASURY NOTES 99.718751 279,212.50 105.36300 295,016.40 2,497.38 7,350.009128285M8 300,000.0000 300,000.0000 US TREASURY NOTES 102.380210 307,140.63 118.39800 355,194.00 1,217.20 9,375.009128286B1 240,000.0000 240,000.0000 US TREASURY NOTES 101.741271 244,179.05 114.79700 275,512.80 2,379.62 6,300.00Page 144
Alaska Permanent Capital Management Co.PORTFOLIO APPRAISAL sort by CUSIPCITY OF KENAI PERMANENT FUNDSDecember 31, 2020Unit Total Market Accrued AnnualCusip9 Original Face Quantity Security Cost Cost Price Value Interest Income9128286F2 210,000.0000 210,000.0000 US TREASURY NOTES 99.753551 209,482.46 110.85900 232,803.90 1,783.84 5,250.00912828D56 425,000.0000 425,000.0000 US TREASURY NOTES 101.531020 431,506.83 107.77700 458,052.25 3,812.58 10,093.75912828R36 75,000.0000 75,000.0000 US TREASURY NOTES 95.634709 71,726.03 106.47700 79,857.75 158.24 1,218.75912828T91 150,000.0000 150,000.0000 US TREASURY NOTES 99.406253 149,109.38 104.17600 156,264.00 417.47 2,437.50912828U24 250,000.0000 250,000.0000 US TREASURY NOTES 95.257812 238,144.53 108.84000 272,100.00 649.17 5,000.00912828U81 40,000.0000 40,000.0000 US TREASURY NOTES101.310269 40,524.11 101.86700 40,746.80 2.21 800.00912828V72 150,000.0000 150,000.0000 US TREASURY NOTES 100.085940 150,128.91 101.89100 152,836.50 1,176.97 2,812.50912828XG0 285,000.0000 285,000.0000 US TREASURY NOTES 99.704454 284,157.69 102.99200 293,527.20 16.73 6,056.25912828XZ8 75,000.0000 75,000.0000 US TREASURY NOTES 99.707033 74,780.27 110.88700 83,165.25 5.70 2,062.50912828Z52 205,000.0000 205,000.0000 US TREASURY NOTES 104.699220 214,633.40 104.50000 214,225.00 1,179.59 2,818.75912828Z94 225,000.0000 225,000.0000 US TREASURY NOTES 108.507813 244,142.58 105.79300 238,034.25 1,274.80 3,375.00912828ZQ6 10,000.0000 10,000.0000 US TREASURY NOTES 100.793000 10,079.30 97.76600 9,776.60 8.11 62.50912828ZY9 20,000.0000 20,000.0000 US TREASURY NOTES 99.996100 19,999.22 99.95300 19,990.60 11.55 25.0091282CAB7 20,000.0000 20,000.0000 US TREASURY NOTES100.160150 20,032.03 99.7070019,941.40 20.92 50.0091282CAC5 50,000.0000 50,000.0000 US TREASURY NOTES100.019540 50,009.77 100.0160050,008.00 26.15 62.5091282CAD3 15,000.0000 15,000.0000 US TREASURY NOTES99.898467 14,984.77 98.68800 14,803.20 23.54 56.2591282CAE1 330,000.0000 330,000.0000 US TREASURY NOTE 99.726562 329,097.65 97.50000 321,750.00 779.04 2,062.5091282CAP6 190,000.0000 190,000.0000 US TREASURY NOTE99.753905 189,532.42 99.93000 189,867.00 50.89 237.5091282CAR2 300,000.0000 300,000.0000 US TREASURY NOTE99.914063 299,742.19 100.01600 300,048.00 64.23 375.00Accrued I24,958.214,929,217.89 5,345,372.46 24,958.21 97,568.75AGENCIES3130AJ4B2 125,000.0000 125,000.0000 FHLB 104.268000 130,335.00 106.70800 133,385.00 615.02 2,031.253130AJZ36 125,000.0000 125,000.0000 FEDERAL HOME LOAN BANK 99.900000 124,875.00 99.65700 124,571.25 258.33 750.00Accrued I873.35255,210.00 258,829.60 873.35 2,781.25CASH AND EQUIVALENTSDIVIDEND ACCRUAL 28,928.22 28,928.22 0.00VP4560000 WF ADV GOVT MM FD-INSTL #1751 2,069,378.71 2,069,378.71 0.002,098,306.93 2,098,306.93 0.00TOTAL PORTFOLIO25,049,289.61 33,562,115.04 62,936.14 299,166.97Page 145
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FEBRUARY 3, 2021
CITY COUNCIL MEETING
ADDITIONAL MATERIAL/REVISIONS
REQUESTED REVISIONS TO THE AGENDA/PACKET:
ACTION ITEM REQUESTED BY
Add to item D.2. Ordinance 3180-2021 City Attorney
• Memo
MEMORANDUM
TO: Mayor Gabriel and Council Members
FROM: Scott Bloom, City Attorney
DATE: February 1, 2021
SUBJECT: Ordinance 3180-2021
A council member requested clarification of the term restrain as it applies to the Animal Control
Code, in case of similar concerns, restrain is defined in KMC 3.05.010 (12) as:
(A) Physical confinement, as by leash, chain, fence, or building; or
(B) Under competent voice control when an animal is engage in a activity or form of training
required that it not be physically confined; or
(C) Under competent voice control when an animal is on the property of its owner.
For gender neutrality and continuity purposes, the minor offense additions should be modified as
noted in red below. It is requested that a Council Member make the following motion:
I move to amend Section 2 of Ordinance 3180-2021 by amending he and his to the appropriate
gender neutral terms.
The changes that will be made subsequent to approval of the above motion are provided below:
MINOR OFFENSE FINE SCHEDULE
CITE RULE/OFFENSE FINE
OFF-ROAD VEHICLE OPERATION
1 KMC 13.40.020(a) On public or private property without the express or
implied consent of the owner, authorized agent, or
representative.
100.00
2 KMC 13.40.020(b) On municipal park lands, except where specifically
authorized, municipal playgrounds and school
playground areas except by special authorization or in a
100.00
Page 2 of 7
CITE RULE/OFFENSE FINE
specially designated area. Notwithstanding, wheelchairs
may be operated on park lands and playgrounds by
persons with mobility disabilities, subject to the other
provisions of this chapter.
3 KMC 13.40.020(c) On a City or State maintained roadway, sidewalk, or on
a path or trail designated for bicycles or pedestrians,
unless such travel is necessary to go around an
obstruction or hazard.
100.00
4 KMC 13.40.020(d) On any City or State road right-of-way that has been
landscaped, seeded, or otherwise improved.
100.00
5 KMC 13.40.020(e) In such a manner as to produce sufficient noise to
disturb the peace and quiet of another.
100.00
6 KMC 13.40.020(f) In such a manner as to cause damage to improved
property or destruction to the terrain.
100.00
7 KMC 13.40.030 Special stops required 90.00
8 KMC 13.40.050 Helmet required 100.00
9 KMC 13.30.080 Operating vehicle in a prohibited area 100.00
ANIMALS
10 KMC 3.10.010 No person may permit an animal which [HE] they
own[S] to interfere with another person’s reasonable
right to peace or privacy by making repeated or
continued noise. (1st offense)
50.00
11 KMC 3.10.010 No person may permit an animal which[HE] they
own[S] to interfere with another person’s reasonable
right to peace or privacy by making repeated or
continued noise. (2nd offense)
100.00
12 KMC 3.10.010 No person may permit an animal which he they owns to
interfere with another person’s reasonable right to peace
or privacy by making repeated or continued noise. (3rd
offense)
UP TO
500.00
Page 3 of 7
CITE RULE/OFFENSE FINE
13 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (1st offense)
50.00
14 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (2nd offense)
100.00
15 KMC 3.10.020(a) A person who owns a dog shall keep the dog under
restraint at all times. (3rd offense)
UP TO
500.00
[12]16 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (1st offense)
50.00
[13]17 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (2nd offense)
100.00
18 KMC 3.10.020(b) A person who owns an animal other than a dog that is
capable of annoying or endangering other persons or
damaging their property shall keep the animal under
restraint at all times. (3rd offense)
UP TO
500.00
[14]19 KMC 3.10.020(c) A person who owns a dog or other animal shall use
reasonable means, including restraint or confinement, to
prevent that dog or other animal from causing harm or
injury to another person or animal unless the animal is
on the private property of the owner.
100.00
[15]20 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (1st offense)
50.00
[16]21 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (2nd offense)
100.00
Page 4 of 7
CITE RULE/OFFENSE FINE
22 KMC 3.10.020(d) A person who owns a vicious or dangerous animal shall
at all times either confine the animal in a building or a
secure enclosure, or otherwise secure the animal, as
with a muzzle, so it cannot injure other persons or their
property. (3rd offense)
UP TO
500.00
[17]23 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (1st offense)
50.00
[18]24 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (2nd offense)
100.00
25 KMC 3.10.020(e) A person who owns a female dog or cat in heat or during
ovulation shall keep the dog or cat under restraint in
such a manner that it cannot come into contact with a
male of its species except for planned breeding
purposes; provided, that a female sled dog in heat shall
be confined unless it is restrained by proper harnessing
in a team in such a manner that it cannot come in
contact with a male dog except for planned breeding
purposes. (3rd offense)
UP TO
500.00
[19]26 KMC 3.10.020(f) No person other than an officer performing his duties
under this title may release an animal from restraint
without its owner’s consent, except to preserve the
animal’s life. (1st offense)
50.00
[20]27 KMC 3.10.020(f) No person other than an officer performing his duties
under this title may release an animal from restraint
100.00
Page 5 of 7
CITE RULE/OFFENSE FINE
without its owner’s consent, except to preserve the
animal’s life. (2nd offense)
28 KMC 3.10.020(f) No person other than an officer performing his their
duties under this title may release an animal from
restraint without its owner’s consent, except to preserve
the animal’s life. (3rd offense)
UP TO
500.00
29 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he the person keeps
the animal, and all areas adjacent thereto, in a clean
and sanitary condition and free from objectionable odor.
(1st offense)
50.00
30 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he the person keeps
the animal, and all areas adjacent thereto, in a clean
and sanitary condition and free from objectionable odor.
(2nd offense)
100.00
31 KMC 3.10.030 A person who owns an animal shall maintain all
structures, pens, and yards where he the person keeps
the animal, and all areas adjacent thereto, in a clean
and sanitary condition and free from objectionable odor.
(3rd offense)
UP TO
500.00
32 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (1st offense)
50.00
33 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (2nd offense)
100.00
34 KMC 3.10.050 No person may tie, stake, or otherwise confine an
animal by a street, sidewalk, alley, or public place, or in
such a manner that the animal may enter a street, alley,
or public place, except as permitted under KMC
3.05.080. (3rd offense)
UP TO
500.00
Page 6 of 7
CITE RULE/OFFENSE FINE
35 KMC 3.10.070 No person shall keep or maintain livestock (1st offense) 50.00
36 KMC 3.10.070 No person shall keep or maintain livestock (2nd offense) 100.00
KMC 3.10.070 No person shall keep or maintain livestock (3rd offense) UP TO
500.00
[22]37 KMC 3.10.080 Failure to properly dispose of dog waste 50.00
38 KMC 3.15.010 No person may operate a kennel facility without a
license (1st offense)
50.00
39 KMC 3.15.010 No person may operate a kennel facility without a
license (2nd offense)
100.00
40 KMC 3.15.010 No person may operate a kennel facility without a
license (3rd offense)
UP TO
500.00
41 KMC 3.15.050(a) Standards for operating facilities (1st offense) 50.00
42 KMC 3.15.050(a) Standards for operating facilities (2nd offense) 100.00
[23]43 KMC 3.15.050(a) Standards for operating facilities (3rd offense) UP TO
[500]500.00
[21]44 KMC 3.20.010 Failure to license a dog. (1st offense) [25.00]
50.00
45 KMC 3.20.010 Failure to license a dog (2nd offense) 100.00
46 KMC 3.20.010 Failure to license a dog (3rd offense) UP TO
500.00
PARKING
[24]47 KMC 13.10.060 Camping on private property 50.00
[25]48 KMC 13.30.030 Night parking prohibited 50.00
[26]49 KMC 13.30.035 Paid parking 50.00
Page 7 of 7
CITE RULE/OFFENSE FINE
[27]50 KMC 13.30.095 Parking prohibited on Kenai Avenue 50.00
[28]51 KMC 18.35.010 Overnight camping 50.00
[29]52 AR 6.05.010-030 Parking at airport (1st offense) 25.00
[30]53 AR 6.05.010-030 Parking at airport (2nd offense) 50.00
ABANDONED / JUNK VEHICLES / LITTERING
[31]54 KMC 12.20.010 Deposit of refuse (littering) 500.00
[32]55 KMC 12.20.010 No fish, fish carcasses, fish parts or offal may be
deposited in dumpsters or receptacles unless marked
specifically to allow for fish or fish parts.
150.00
[33]56 KMC 12.25.020 Abandonment of vehicle 100.00
[34]57 KMC 12.25.030 Junk vehicle 100.00
OFFENSES AGAINST PROPERTY
[35]58 KMC 13.20.030 Protection of North and South Shore—No physical
damage
150.00
[36]59 KMC 13.20.030 Protection of North and South Shore—Physical damage 500.00
[37]60 KMC 13.20.035 Burning of pallets and other wood materials containing
metal fasteners
50.00
Your consideration is appreciated.
Kenai City Council - Regular Meeting Page 1 of 4
February 03, 2021
Kenai City Council - Regular Meeting
February 03, 2021 ꟷ 6:00 PM
Kenai City Council Chambers
210 Fidalgo Avenue, Kenai, Alaska
www.kenai.city
Action Agenda
A. CALL TO ORDER
1. Pledge of Allegiance
2. Roll Call
3. Agenda Approval
4. Consent Agenda (Public comment limited to three (3) minutes) per speaker;
thirty (30) minutes aggregated)
*All items listed with an asterisk (*) are considered to be routine and non-controversial by the
council and will be approved by one motion. There will be no separate discussion of these items
unless a council member so requests, in which case the item will be removed from the consent
agenda and considered in its normal sequence on the agenda as part of the General Orders.
B. SCHEDULED PUBLIC COMMENTS
(Public comment limited to ten (10) minutes per speaker)
1. Brandy Niclai and Bill Lierman, Alaska Permanent Capital Management -
2020 Financial Performance, Financial Projections, and Recommended 2021 Asset
Allocation for the City's Permanent Fund Investments.
C. UNSCHEDULED PUBLIC COMMENTS
(Public comment limited to three (3) minutes per speaker;
thirty (30) minutes aggregated)
D. PUBLIC HEARINGS
1. ENACTED UNANIMOUSLY. Ordinance No. 3179-2021 - Amending Positions in the
Classified Service in the Public Works and Senior Center Departments as Established by
the Annual Budget.
2. ENACTED UNANIMOUSLY AS AMENDED. Ordinance No. 3180-2021 - Amending Kenai
Municipal Code 3.05.070-Citation Procedure, and Kenai Municipal Code 13.10.015 – Minor
Offense Fine Schedule to Incorporate Various Animal Control Offenses into the Minor
Offense Fine Schedule and Make Other Housekeeping Changes.
3. ENACTED UNANIMOUSLY. Ordinance No. 3181-2021 - Waiving Kenai Municipal Code
21.10.130 - Lease Execution and Approving a Lease Execution Extension to July 27, 2021
to Kenai Aviation Operations, LLC for Lot 9A, Block 5, General Aviation Apron Subdivision
No. 5.
Kenai City Council - Regular Meeting Page 2 of 4
February 03, 2021
4. ADOPTED UNANIMOUSLY. Resolution No. 2021-05 - Designating the Investment and
Allocation Plan for the City's Permanent Funds and Establishing Appropriate Benchmarks
to Measure Performance For Calendar Year 2021.
5. ADOPTED UNANIMOUSLY. Resolution No. 2021-06 - Authorizing the City Manager to
Enter Into an Amended Bar/Lounge Concession Agreement at the Kenai Municipal Airport
with the Upper Deck Lounge.
6. ADOPTED UNANIMOUSLY. Resolution No. 2021-07 - Adopting the City of Kenai's
Capital Improvement Plan Priority List for State Funding Requests for the Fiscal Year
2022.
E. MINUTES
G. NEW BUSINESS
1. APPROVED BY THE CONSENT AGENDA. *Action/Approval - Bills to be Ratified.
2. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3182-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Special Revenue Fund for the 2021 Airport Sand Screening Project.
3. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3183-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund – Police Department, and Accepting a Grant From the US Department of
Transportation Passed through the State of Alaska Department of Transportation and Public
Facilities for Traffic Enforcement Overtime Expenditures.
4. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3184-2021 - Amending Kenai Municipal Code 23.30.050 – Business Hours
and Hours of Work to Allow for Alternate Work Schedules in the Police Department.
5. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3185-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Special Revenue and Airport Improvements Capital Project Funds and Amending a
Professional Services Agreement for the 2021 Airfield Drainage Rehabilitation Project at
the Kenai Municipal Airport.
6. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3186-2021 - Increasing Estimated Revenues and Appropriations in the
General Land Sale Permanent Fund to Transfer Earnings in Excess of Budgeted Amounts
to the City’s General Fund.
7. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3187-2021 - Increasing Estimated Revenues and Appropriations in the
Airport Land Sale Permanent Fund to Transfer Earnings in Excess of Budgeted Amounts
to the City’s Airport Fund.
8. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3188-2021 - Increasing Estimated Revenues and Appropriations in the
Kenai City Council - Regular Meeting Page 3 of 4
February 03, 2021
Water and Sewer Special Revenue and Wastewater Treatment Plant Improvements Capital
Project Funds for a Replacement Sludge Press.
9. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3189-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund and the Public Safety Capital Project Fund to Provide Supplemental
Funding to the Fire Department’s Station Alerting Project and Authorizing a Purchase
Order in Excess of $15,000 to Kachemak Electric for Performance of the Work.
10. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3190-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund and Authorizing a Grant Disbursement Program for Small Businesses that
Did Not Previously Apply for Full Assistance from the City in 2020.
11. INTRODUCED BY THE CONSENT AGENDA/PUBLIC HEARING SET FOR 2/17/2021.
*Ordinance No. 3191-2021 - Increasing Estimated Revenues and Appropriations in the
General Fund to Provide Assistance to Kenai Residents Impacted by the COVID-19 Public
Health Emergency with the Purchase of Groceries and Necessary Household Goods in
Kenai and Award a Professional Service Agreement to the Kenai Chamber of Commerce
and Visitors Center for Administration of the Program.
12. Discussion - COVID-19 Response.
F. UNFINISHED BUSINESS
H. COMMISSION / COMMITTEE REPORTS
1. Council on Aging
2. Airport Commission
3. Harbor Commission
4. Parks & Recreation Commission
5. Planning & Zoning Commission
6. Beautification Committee
7. Mini-Grant Steering Committee
I. REPORT OF THE MAYOR
J. ADMINISTRATION REPORTS
1. City Manager
2. City Attorney
3. City Clerk
K. ADDITIONAL PUBLIC COMMENT
Kenai City Council - Regular Meeting Page 4 of 4
February 03, 2021
1. Citizens Comments (Public comment limited to five (5) minutes per speaker)
2. Council Comments
L. EXECUTIVE SESSION
M. PENDING ITEMS
N. ADJOURNMENT
O. INFORMATION ITEMS
1. Purchase Orders Between $2,500 and $15,000.
2. Alaska LNG ROW Leases
The agenda and supporting documents are posted on the City’s website at www.kenai.city. Copies of
resolutions and ordinances are available at the City Clerk’s Office or outside the Council Chamber prior
to the meeting. For additional information, please contact the City Clerk’s Office at 907-283-8231.
Join Zoom Meeting
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