HomeMy WebLinkAboutRes1986-089
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Sponsored by:
Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 86-89
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, APPROPRIATING FUNDS FROM THE GENERAL
FUND-FUND BALANCE TO THE SEWARD MARINE INDUSTRIAL CENTER
CLAIMS CONTINGENCY ACCOUNT
WHEREAS, the Seward Marine Industrial Center (SMIC)
Claims Contingency Account was established in 1983 to
account for arbitration and litigation costs arising from
construction and lease claims relative to the SMIC; and
WHEREAS, one claim was resolved with the City receiving
an arbitration award in FY 1986 in the amount of $1,400,000;
and
WHEREAS, at the time the arbitration award was re-
ceived, it was decided to receipt the funds into the General
Fund; and
WHEREAS, the legal and other costs incurred during the
arbi tration award were accounted for in the SMIC Claims
Contingency Account and that account shows a deficit as of
June 30, 1986, of $114,146.85; and
WHEREAS, three claims are still pending and expendi-
tures from the SMIC Claims Contingency Account will continue
until the remaining claims are concluded; and
WHEREAS, it is therefore necessary to receive an
appropriation to cover the excess expenditures already
incurred and provide funds to cover the estimated expendi-
tures for the three unresolved claims through the end of FY
1987;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SEWARD, ALASKA, that:
Section 1. The amount of $400,000 is hereby appropri-
ated from the General Fund-Fund Balance Account No. 101-111-
271-00-00 to the SMIC Claims Contingency Account No. 258000.
Section 2. This resolution shall take effect immedi-
ately upon its adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this ~ day of September , 1986
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 86-89
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THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
BOOHER, GIESELER, GILLESPIE, HILTON, MEEHAN, SCHOLL & SIMUTIS
NONE
NONE
NONE
ATTEST:
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ,
POWELL & BRUNDIN, Attorneys
for the City of Seward, AK
7~ flI~
Fred B. Arvidson
City Attorney
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(City Seal)
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