Ordinance 12-03 Budget Amendment to Transfer $60,000 to Seawall Maintenance Reserve for Repair and Maintenance on the Wall

CITY OF HOMER
HOMER, ALASKA

City Manager

ORDINANCE 12-03

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, AMENDING THE FY 2012 OPERATING BUDGET BY APPROPRIATING AND TRANSFERRING $60,000 FROM THE GENERAL FUND RESERVES TO THE SEAWALL MAINTENANCE RESERVE FOR THE PURPOSE OF REPAIRING AND MAINTAINING THE WALL.

WHEREAS, The Homer City Council adopted Emergency Ordinance 11-49 which created the Ocean Drive Loop Special Service District; and
WHEREAS, The Special Service District was created to raise tax revenues from benefitted property owners to support maintenance and repair of the seawall they own which is located on their properties; and
WHEREAS, Expenditures made by the City in providing this special service can be reimbursed through a mil levy on properties located within the service area; and
WHEREAS, There is an immediate need to conduct maintenance and repair activities on the seawall in order to prevent further damage and remain in compliance with the Army Corps of Engineers Permit.
NOW, THEREFORE, THE CITY OF HOMER ORDAINS:
Section 1. The Homer City Council hereby amends the FY 2012 Operating Budget by appropriating and transferring $60,000 from the General Fund Reserves to the Seawall Maintenance Reserve for the purpose of repairing and maintaining the seawall as follows:
Appropriation / Transfer From:
Account Description Amount
156-375 General Fund Reserve / Fund Balance $60,000
Transfer To:
Account Description Amount
156-369 Seawall Maintenance Reserve $60,000
Section 2. The City Manager is hereby authorized to execute the appropriate documents, conduct the necessary repair and maintenance activities, and keep an accounting of expenditures for reimbursement through the Special Service District property tax levy.
Section 3. This ordinance is a budget amendment ordinance only, is not permanent in nature, and shall not be codified.
ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this ______ day of ________, 2012.
CITY OF HOMER

_____________________________
JAMES C. HORNADAY, MAYOR

ATTEST:

______________________________
JO JOHNSON, CMC, CITY CLERK

YES:
NO:
ABSTAIN:
ABSENT:

First Reading:
Public Hearing:
Second Reading:
Effective Date:

Reviewed and approved as to form:

________________________ ____________________________
Walt E. Wrede, City Manager Thomas F. Klinkner, City Attorney

Date: ___________________ Date: _______________________