CITY OF HOMER

HOMER, ALASKA

Finance/City Manager

ORDINANCE 07-29

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA AMENDING THE FY 2007 BUDGET BY AUTHORIZING THE TRANSFER OF $415,273.80 FROM CITY HALL DEPRECIATION RESERVES TO FUND 170, NEW CITY HALL, FOR THE CONSTRUCTION OF A NEW CITY HALL BUILDING.

WHEREAS, Constructing a new City Hall building has been a priority over the past few years; and

WHEREAS, The Finance Department has decided to create a new fund, Fund 170, to hold all costs and revenues associated with the cost of building a new City Hall; and

WHEREAS, The Finance Department recommends transferring the available balance of the City Hall Depreciation Reserves account to the New City Hall Building account, with the goal of using these monies to cover expenses that are not grant eligible.

NOW, THEREFORE THE CITY OF HOMER ORDAINS:

Section 1. That the City Council hereby amends the FY 2007 Budget by authorizing the transfer of funds from City Hall Depreciation Reserves to New City Hall Building, in the amount of $415,273.80 for the construction of a new City Hall building:

Account No. Description Amount

Revenue

156-384-5990 City Hall Depreciation Reserves $415,273.80

Expenditure

170 733 4992 New City Hall Building $415,273.80

Section 2. 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 ___________, 2007.

CITY OF HOMER

_____________________________

JAMES C. HORNADAY, MAYOR

ATTEST:

_____________________________________

JO JOHNSON, 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.