RESOLUTION 05-111

A RESOLUTION OF THE HOMER CITY COUNCIL EXPRESSING ITS STRONG SUPPORT FOR THE HOMER DEEP WATER DOCK CONSTRUCTION PHASE II PROJECT AND ITS INTENT TO PLACE A BOND PROPOSITION ON THE OCTOBER 2006 REGULAR ELECTION BALLOT IN THE AMOUNT OF TWO MILLION DOLLARS IN ORDER TO PROVIDE FOR A LOCAL MATCH TO STATE AND FEDERAL FUNDING.

WHEREAS, The Deep Water Dock Construction Phase II project is the City’s number one Federal and Area-wide CIP project, and

WHEREAS, The Deep Water dock project will provide regional benefits because it has the potential to improve transportation, lower shipping costs, and stimulate economic development on the Kenai Peninsula, the Alaska Peninsula, and the Bristol Bay Regions, and

WHEREAS, The Deep Water Dock project will improve regional inter-modal transportation connections and will enhance the value and economic importance of the Sterling Highway, the Homer Airport, the Alaska Marine Highway System, existing public and private barge facilities, and the Williamsport-Pile Bay Road, and

WHEREAS, The Deep Water Dock project will stimulate economic development by lowering the cost of goods and services, providing opportunities for the maritime and shipping sectors, and offering economic incentives for the expansion and start-up of other businesses and industries, and

WHEREAS, The Deep Water Dock project will improve the Port of Homer’s ability carry out its responsibility to support the Port of Anchorage in the event of disaster or emergency, and

WHEREAS, The City is requesting State and Federal Assistance for this project and has already provided approximately $450,000 of local funding for corrosion control and preliminary engineering and design, and

WHEREAS, The City received Two Million Dollars in the recently adopted transportation bill that will be used for more expansive and comprehensive feasibility studies, planning, design, and permitting, and

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Resolution 05-111

City of Homer

WHEREAS, The City Council wishes to demonstrate how serious it is about this project by providing for a significant local match for State and Federal construction funding if it becomes available.

NOW THEREFORE BE IT RESOLVED, that the Homer City Council hereby expresses its willingness and intent to place a bond proposition on the October 2006 regular election ballot in the amount of Two Million Dollars to provide a local match for State and Federal construction funding.

PASSED AND ADOPTED by the Homer City Council this 14^th day of November, 2005.

CITY OF HOMER

JAMES C. HORNADAY, MAYOR

ATTEST:

MARY L. CALHOUN, CMC, CITY CLERK

Fiscal Note: Two Million in Bond Payments plus interest over 20 or 30 years