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Sponsored by: ii••• CITY OF SEWARD, ALASKA <br /> RESOLUTION 2012 -097 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AMENDING THE 2012 GENERAL FUND BUDGET FOR RAW <br /> FISH TAX PROCEEDS, AND APPROPRIATING FUNDS <br /> WHEREAS, the Seward City Council authorized transfer of 100% of the raw fish tax <br /> proceeds from the General Fund to the Harbor Enterprise Fund in 2010 ($302,261.97) and 2011 <br /> ($599,451.41), for the purpose of developing a revenue source to assist the harbor with <br /> replacement of critical capital infrastructure which was nearing the end of its useful life; and <br /> WHEREAS, the 2012 budget anticipated receiving $320,000 in raw fish tax proceeds <br /> and transferring that amount from the General Fund to the Harbor Enterprise Fund, with actual <br /> fish tax proceeds in 2012 amounting to $519,688.98 for a surplus of $199,688.98; and <br /> WHEREAS, the Harbor Enterprise Fund implemented a new Capital Repair and <br /> Replacement Fee in 2011, intended solely to fund major maintenance and repair of harbor <br /> infrastructure, recognizing however that this revenue source alone is not sufficient to address the <br /> Harbor's infrastructure needs; and <br /> WHEREAS, the administration recommends allocating the $199,688.98 excess raw fish <br /> tax proceeds in 2012 for two purposes; first, 10% of the overall raw fish tax proceeds for 2012 be <br /> available for the purpose of salmon enhancement in Resurrection Bay to improve future fish <br /> runs, in the amount of $51,000, with the remaining $144,688.98 available to fund general <br /> government infrastructure, since the General Fund lacks a source of revenue to pay for a growing <br /> list of capital repair and replacement needs. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF SEWARD, ALASKA that: <br /> Section 1. General Fund raw fish tax budgeted revenues are hereby increased to <br /> account 101- 0000 - 4350 -0130 by $199,688.98; transfers -out from the General Fund (101 -0000- <br /> 3071 -0103) to the Capital Acquisition Fund (103- 0000 - 3070 -0101) are hereby increased by <br /> $144,688.98; and contributions to salmon enhancement in Resurrection Bay are hereby <br /> appropriated in the amount of $51,000 to account 101 - 1191 -5790. <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 <br /> 10 day of December 2012. <br /> t <br /> L <br />