HomeMy WebLinkAboutOrdinance No. 2450-2009KENAI, SKA
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, INCREASING
ESTIMATED REVENUES AND APPROPRIATIONS IN THE WATER AND SEWER AND
BRIDGE ACCESS WATER AND SEWER EXTENSION CAPITAL PROJECTS FUND AS
PROCEEDS FROM THE ALASKA DEPARTMENT OF ENVIRONMENTAL
CONSERVATION ALASKA DRINKING WATER FUND.
WHEREAS, the City will receive $2,000,000 funding from the Alaska Department of
Environmental Conservation (ADEC) through principal forgiveness through funding
provided by the American Recovery and Reinvestment Act; and,
WHEREAS, the funding mechanism for this project will be the ADEC Alaska Drinking
Water Fund loan program; and,
WHEREAS, the City will prepay the City's 10% share ($222,000) and one -half percent
early repayment fee ($11,110); and,
WHEREAS, the construction of improvements will support existing commercial
enterprises and new commercial development in the project area.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA that estimated revenues and appropriations be increased as follows:
Water Sewer Fund
Increase Estimated Revenues:
Appropriation of Fund Balance
CITY OF KENAI
ORDINANCE NO. 2450 -2009
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Suggested by: Administration
$233,110
Increase Appropriations:
Transfer to Capital Projects $233,110
Bridge Access Water Sewer Capital Projects Fund
Increase Estimated Revenues:
Transfer from Water Sewer Fund $233,110
Federal Grant $2,000,000
Increase Appropriations:
Construction $2,222,000
Miscelaneous $11,110
Ordinance No. 2450 -2009
Page 2 of 2
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 21st day of
October, 2009.
ATTEST:
Carol L. Freas, City Clerk
Approved by Finance: y. C2
41)
e 1.-)
PAT PORTER, MAYOR
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Introduced: October 7, 2009
Adopted: October 21, 2009
Effective: October 21, 2009