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RESOLUTION NO. 418
WHEREAS. Seward General Hospital. Seward High School. the 1954 Sewer
Improvements. and the 1953 Water Improvements projects. in the City of
Seward. Alaska. were all constructed under Alaska Public Works projects
payment arrangements. whereby major portions of the construction costs
of these projects were contributed by the United States Government. and
the remainder of such costs was financed through bonded indebtedness
incurred by the City of Seward; and
WHEREAS. due to the earthquake disaster of March 27. 1964. 9~ of
the industrial base of the City of Seward was completely lost. so that
funds anticipated to be available for paying off the bonded indebtedness
of the City of Seward have been entirely decimated. and the City of
Seward is now unable to meet any of the obligations of such bonded
indebtedness; and
WHEREAS. the United States Government has funds available to cover
like contingencies and is able to forgive such bonded indebtedness;
NOW. THEREFORE. IT IS HEREBY RESOLVED by the COIIII1On Council of the
City of Seward that request be forthwith made to the United States
Government. asking that it forgive all bonded indebtedness now existing.
arising out of the construction of Seward General Hospital. Seward High
School. the 1954 Sewer ImProvements and the 1953 Water Improvements
projects. in the City of Seward. Alaska.
PASSED AND APPROVED this 2nd day of November. 1964.
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Perry R. Stockton
Mayor
Attest:
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City Clerk-Treasurer