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Sponsored by: Hunt <br /> imp CITY OF SEWARD, ALASKA <br /> RESOLUTION 2012 -090 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, APPROPRIATING $25,000 IN ONE -TIME PROJECT <br /> MANAGEMENT FEES TO THE CAPITAL ACQUISITION FUND FOR <br /> CAPITAL BUDGET NEEDS <br /> WHEREAS, the City of Seward ( "City ") has significant capital infrastructure needs related <br /> to general government, including: streets and sidewalks; ADA accessibility; fire hall repairs; City <br /> Hall repairs; waterfront erosion, etc. without an identified revenue source to address those needs; and <br /> WHEREAS, the City has a budget policy to direct one -time revenues toward capital repairs <br /> and replacement rather than to build those revenues into the General Fund to fund routine <br /> expenditures; and <br /> WHEREAS, that budget policy mandates one -time revenues be allocated to the Capital <br /> Acquisition Fund when the General Fund's fund balance level has reached six months' of <br /> expenditures and transfers -out, but since the City has not been at that level of fund balance in more <br /> than ten years and must address capital needs, it is recommended that this revenue be allotted for <br /> capital purposes. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SEWARD, ALASKA that: <br /> Section 1. The General Fund project management fee account budget (101- 0000 -4410- <br /> 0410) is hereby increased from $0 to $25,000, and that amount is authorized to be transferred from <br /> the General Fund account no. 101 - 0000 - 3071 -0103 to the Capital Acquisition Fund account no. 103- <br /> 0000- 3070 -0101. <br /> Section 2. This resolution shall take effect immediately upon adoption. <br /> PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 26` day of <br /> November, 2012. <br /> THE CITY OF SEWARD, ALASKA <br /> David Seaward, a <br /> rr,. <br />