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Sponsored by: Oates <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2010 -016 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AMENDING THE 2009 BUDGET TO ACCOUNT FOR <br /> UNBUDGETED REVENUES FROM EXXON VALDEZ OIL SPILL <br /> SETTLEMENT PROCEEDS <br /> WHEREAS, the City of Seward received $1,622,052.36 as its share of the Exxon Valdez Oil <br /> Spill Qualified Settlement Fund punitive damages interest proceeds which were not anticipated in the <br /> 2009 annual operating budget; and <br /> WHEREAS, the City's total share of all recoveries to -date, net of 22.4% attorneys fees, is <br /> $2,980,405.01; and <br /> WHEREAS, it is necessary to modify the 2009 Budget retroactively in order to more <br /> accurately reflect estimated annual revenues. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SEWARD, ALASKA, that: <br /> Section 1. The amount of $1,622,052.36 is hereby accepted from the Exxon Qualified <br /> Settlement Fund to account 101- 0000 -4630, retroactive to December 31, 2009. <br /> Section 2. This resolution shall take effect immediately upon its adoption. <br /> PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 22nd <br /> day of February, 2010. <br /> THE CITY OF SEWARD ALASKA <br /> / 00 <br /> /1/ <br /> Willard E. Dunham, Mayor <br />