AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, ACCEPTING AND APPROPRIATING A USDA LOAN OF $400,000.00 FOR THE LIBRARY BUILDING PROJECT AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE APPROPRIATE DOCUMENTS.
WHEREAS, Council accepted and appropriated a USDA Loan in the amount of $1.7 million on April 25, 2005 via Ordinance 05-20; and
WHEREAS, Council adopted Resolution 05-56(A) on May 9, 2005 to increase the loan amount from $1.7 million to the $2.2 million as approved by the voters on October 5, 2004 and certified on October 11, 2004; and
WHEREAS, USDA Administration notified the City of Homer that the maximum allowable amount is $2.1 million, see Memorandum 05-103 for further information.
NOW, THEREFORE, BE IT ORDAINED by the City of Homer :
Section 1. That the City Council hereby accepts and appropriates a USDA Loan of $400,000.00 for the Library Building Projects as follows:
Account No. Description Amount
Revenue USDA Loan $400,000.00
151-722
Expenditure Library Building Project $400,000.00
151-722
Section 2. That the City Council hereby authorizes the City Manager to execute the appropriate documents.
Section 3. This ordinance is a budget amendment only, is not of a permanent nature and is a non code ordinance.
PASSED AND ENACTED by the Homer City Council this ____ day of ________, 2005.
CITY OF HOMER
____________________________
JAMES C. HORNADAY, MAYOR
Page Two
Ordinance 05-32
City of Homer
ATTEST:
________________________________
MARY L. CALHOUN, CMC, CITY CLERK
Introduction:
Public Hearing:
Second Reading:
Effective Date:
Ayes:
Noes:
Abstain:
Absent:
Reviewed and approved as to form and content:
___________________________ __________________________
Walt E. Wrede City Manager Gordon Tans, City Attorney
Date:__________________ Date: _________________
Fiscal Note: Fiscal information included in body of Ordinance.
/mlc