Laserfiche WebLink
<br />I <br /> <br />I <br /> <br />I <br /> <br />Sponsored by: Janke <br /> <br />CITY OF SEWARD, ALASKA <br />RESOLUTION 2000-092 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br />ALASKA, APPROVING A BALLOT PROPOSITION FOR THE SALE OF <br />THE ELECTRIC UTILITY AT mE NOVEMBER 7, 2000, SPECIAL CITY <br />ELECTION <br /> <br />WHEREAS, the City of Seward currently owns and operates an electric utility; and <br /> <br />WHEREAS, because of deregulation and industry changes affecting the operation and <br />economies of electric utilities throughout the United States and Alaska, it appears timely for the City <br />Council to consider the prospect of selling the City's electric utility; and <br /> <br />WHEREAS, the public interest is adequately protected under the provisions of Section 13.4 <br />of the City Charter which provides that "The council may sell, lease or otherwise dispose of a <br />municipal utility or of property and interest in property used or useful in the operation of a utility only <br />after a proposition to do so is approved by three-fifths of the electors of the city voting on the <br />proposition;" and <br /> <br />WHEREAS, it is in the public interest to provide for quality electric services and reasonable <br />rates and at the same time seek to manage City assets for the long term benefit of the citizens of the <br />City; and <br /> <br />WHEREAS, prior to or following the approval by the voters of a proposition to sell the <br />electric utility, the City Council would consider the enactment of an ordinance to establish a trust fund <br />for the receipt, investment, and use of proceeds from any such sale; to direct that revenues ofthe trust <br />fund, after inflation proofing, be used, for example, to (1) hold stable or reduce property taxes, (2) <br />reinvest in the trust fund, and (3) fund capital improvements; and to require any change in the use of <br />proceeds from the Electric Utility sale to be approved by the voters; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SEWARD, ALASKA, that: <br /> <br />Section 1. At the special municipal election to be held on November 7, 2000, the City shall <br />submit to the qualified voters of the City the question of approval of the concept to sell the Seward <br />Electric Utility. Pursuant to Section 13.4 of the City Charter, an affirmative vote by three-fifths of <br />the qualified electors voting on the proposition is required to approve the sale of a municipal utility. <br /> <br />Section 2. The proposition shall be substantially in the following form: <br />