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Ordinance 12-58 Disbursement of the Net Earnings of 5% of the Permanent Fund to Local Non-Profit Organizations
Summary
An Ordinance of the City Council of Homer, Alaska, Approving the Disbursement of the Net Earnings of 5% of the Permanent Fund, an Amount of $3,554.79, to Local Non-Profit Organizations for the Benefit of the Community. City Clerk/Permanent Fund Committee.
Ordinance/Resolution ID:
12-58
Ordinance/Resolution Status:
Adopted
Introduction Date:
12/10/2012
Effective Date:
01/15/2013
File Attachments:
Public Hearing Date:
01/14/2013
Second Reading Date:
01/14/2013
Related Meetings
Details
CITY OF HOMER
HOMER, ALASKA
City Clerk/
Permanent Fund Committee
ORDINANCE 12-58
AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, APPROVING THE DISBURSEMENT OF THE NET EARNINGS OF 5% OF THE PERMANENT FUND, AN AMOUNT OF $3,554.79, TO LOCAL NON-PROFIT ORGANIZATIONS FOR THE BENEFIT OF THE COMMUNITY.
WHEREAS, The Permanent Fund was established in June, 2010 to invest and manage wind-fall monies to the City of Homer; and
WHEREAS, The net earnings of five percent (5%) of the fund are to be distributed to local non-profit organizations for the benefit of the community; and
WHEREAS, As of December, 2011 the net earnings of five percent of the Permanent Fund to be allocated to non-profit organizations is $3,554.79.
THE CITY OF HOMER HEREBY ORDAINS:
Section 1. The City Council hereby approves the disbursement of the net earnings of 5% of the Permanent Fund, the amount of $3,554.79, to local non-profit organizations for the benefit of the community as follows:
Expenditure:
From Account:
Account No. Description Amount
999-1043 Net Earnings of 5% $3,554.79
999-1044 of the Permanent Fund
To Account:
Account No. Description Amount
999-1043 Local Non-Profit Organizations $3,554.79
999-1044
Section 2. This ordinance is a budget amendment only, is not of a permanent nature and is a non code ordinance.
ENACTED BY THE CITY COUNCIL OF THE CITY OF HOMER, ALASKA, this _____ day of ____________________, 2013.
CITY OF HOMER
_________________________
MARY E. WYTHE, MAYOR
ATTEST:
______________________________
JO JOHNSON, CMC, CITY CLERK
AYES:
NOES:
ABSTAIN:
ABSENT:
First Reading:
Public Reading:
Second Reading:
Effective Date:
Reviewed and approved as to form:
Walt Wrede, City Manager Thomas F. Klinkner, City Attorney
Date: _________________________ Date: _________________________
