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Sponsored by: Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 96-082
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, ESTABLISHING THE SEWARD
HOSPITAL DEBT SERVICE FUND
WHEREAS, at a special election on May 21, 1996, the voters of the City of Seward
approved the issuance of general obligation bonds not to exceed $7.5 Million for construction of a
new hospital facility and approved the transfer of hospital management to the Providence Alaska
Medical Center; and
WHEREAS, once management of the hospital is transferred, hospital employees will no
longer be employees of the City, and the City will assume responsibility for repayment of the
unfunded liability associated with the hospital employees' participation in PERS; and
WHEREAS, when hospital employees leave their city employment on June 30, 1996, the
City must pay to them all accrued leave balances; and
WHEREAS, it is the City's desire to account for all of the expenses related to repayment
of hospital debts in a special fund created for this purpose; and
WHEREAS, revenues for repayment of the bonded indebtedness and the unfunded PERS
liability will be allocated from the one cent sales tax which was ratified by the voters in 1982; and
WHEREAS, a portion of funds received from Chugach Electric Association for Static Var
Compensator losses at the Dave's Creek Substation win be used to fund the payment of accrued
leave time which win be paid to hospital employees at the end of their term of employment with the
City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The Seward Hospital Debt Service Fund, Fund No. 801, is hereby established.
Section 2. The sum of $100,000 is hereby transferred from the Electric Utility Enterprise
Fund, Account No. 501-0000-3070-0301, to Seward General Hospital for payment of accrued annual
leave to hospital employees.
Section 3. The sum of$115,502 is hereby appropriated from the Electric Utility Enterprise
Fund, Account No. 501-0000-3070-0801, to the Seward Hospital Debt Service Fund, Account No.
801-0000-3070-0000.
CITY OF SEWARD, ALASKA
RESOLUTION NO. 96-082
Section 4. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 24th
day of June, 1996.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
Bencardino, Crane, Deeter, King,
Sieminski
Anderson, Keil
None
ATTEST:
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