HomeMy WebLinkAboutRESOLUTION 1994-26Suggested by: Adminietration
City of Kenai
RBBOLUTXON NO. 94-26
A RESOLUTION OF TH~ COUNCIL OF THE CITY' OF KENAI, ALASKA
SETTING THE PERCENTAGE OF FAIR HARKET VALUE TO BE USED IN'
ORDER TO DERIVE A FAIR RETURN ON LEASE OF AIRPORT LANDS.
WHEREAS, IQ~C 21.10.130(a)(2) states that the percentage of.
fair market value to derive a fair return on airport lands
to be leased by the City shall be set annually in May by.
resolution of the City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, that the rental rates to be set on any City-
owned airport lands to be leased after the effeotive date of
this resolution shall be 6% of appraised fair market value
as established by a qualified independent appraiser.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 4th
day of May, 1994.
ATTEST:
Approved by Finance:
(4/26/94)
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