HomeMy WebLinkAboutResolution No. 2011-36the Cory Of
KENAI. SKA
Suggested by: Administration
CITY OF KENAI
RESOLUTION NO. 2011 -36
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, AUTHORIZING
A BUDGET TRANSFER WITHIN THE GENERAL FUND, NON - DEPARTMENTAL AND
LAND ADMINISTRATION DEPARTMENTS FOR EXTERNAL LEGAL SERVICES TO
REVIEW A PROPOSED LAND, SUB - SURFACE RIGHTS AGREEMENT BETWEEN THE
CITY AND COOK INLET NATURAL GAS STORAGE ALASKA (CINGSA).
WHEREAS, the City's FY11 insurance expenditures are
budgeted; and,
21,500 less than previously
WHEREAS, the savings from insurance is available for redirection to other needs; and,
WHEREAS, the Administration has received a sub - surface mineral rights agreement
from CINGSA and seeks review by Council with expertise in this subject; and,
WHEREAS, the cost for this review is estimated at $7,500.00.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA, the following budget transfers be made:
From:
General Fund - Non - Departmental
Insurance
To:
General Fund - Lands Administration
Professional services
7,500
7,500
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this fourth day of May,
2011.
ATTEST:
Carol L. Freas, City Clerk
Approved by Finance:
PAT PORTER, MAYOR
Tillage with a Past, C with a Future"
210 Fidalgo Avenue, Kenai, Alaska 99611 -7794 LIVE
Telephone: 907 - 283 -7535 / FAX: 907 - 283 -3014 IR
MEMO:
TO: City Council
FROM: Rick Koch
DATE: April 28, 2011
SUBJECT: Resolution 2011 -36
The purpose of this correspondence is to recommend Council approval of Resolution No. 2011-
36 authorizing a budget transfer within the General Fund, in the amount of $7,500, to provide
funding for external specialty legal services for the review of sub - surface rights agreements
between the City and Cook Inlet Natural Gas Storage Alaska (CINGSA).
In order that appropriate due diligence is exercised to protect the rights and future potential
value of City sub - surface estates the Administration requires the legal services of a
firm /individual specializing in this field.
CINGSA has agreed to reimburse the City for these attorney's fees to a maximum of $7,500, the
amount estimated to accomplish the work.
1992
Thank you for your attention in this matter, if you have any questions please contact me at your
convenience.