Ordinance 13-23(A) Dedicating and Transferring Port Tariff Fees From the Drill Rig Endeavour’s Moorage to the Port and Harbor Depreciation Reserve Fund

CITY OF HOMER
HOMER, ALASKA
                                                                                                                                Mayor
ORDINANCE 13-23(A)

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, DEDICATING AND TRANSFERRING ALL PORT TARIFF FEES GENERATED BY THE DRILL RIG ENDEAVOUR’S MOORAGE AT THE DEEP WATER DOCK IN 2012 AND 2013 ($576,815.53)TO THE PORT AND HARBOR DEPRECIATION RESERVE FUND.

WHEREAS, The Drill Rig Endeavour was moored at the City Deep Water Dock from October 2012 until March 2013; and

WHEREAS, The tariff revenue generated by the presence of the rig, support tugs, and other support services was unanticipated and unallocated; and

WHEREAS, The Port and Harbor Enterprise Fund Depreciation Reserve is underfunded and contains a balance that is insufficient given the value of the assets owned and maintained by the City Port and harbor Department; and

WHEREAS, Deposit of these revenues into the Depreciation Fund is a good long term investment in the port and harbor infrastructure and the level of service the City provides its customers.

NOW, THEREFORE, THE CITY OF HOMER ORDAINS:

Section 1.  The City Council hereby dedicates the 2012 and 2013 tariff fee revenue generated by the drill rig Endeavour to the Port and Harbor Depreciation Reserve and directs the Administration to so deposit those revenues as follows:

Transfer From:
Account Number                                Description                                          Amount
400-604-5990                                     Tariff Fees / Drill Rig Endeavor         $576,815.53
Deposit / Transfer To:
Account Number                                Description                                          Amount
456-380-4992                                     Port and Harbor Depreciation  $576,815.53
     Reserve Fund
Section 2. This is a budget amendment ordinance, is not permanent in nature, and shall not be codified.

ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this ___ day of ______________ 2013.

       CITY OF HOMER

       _____________________________
       MARY E. WYTHE, 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 Wrede, City Manager    Thomas F. Klinkner, City Attorney

Date: ______________________   Date: _______________________