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Sponsored by: Hunt <br /> .. CITY OF SEWARD, ALASKA <br /> RESOLUTION 2012 -013 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA, AMENDING THE 2011 BUDGET AND APPROPRIATING <br /> $24,953 IN SALES TAX REVENUE TO THE HOSPITAL DEBT SERVICE <br /> FUND <br /> WHEREAS, the 2011 Operating Budget anticipated that one cent of every four cents in <br /> sales tax collected by the City of Seward would be transferred to the Hospital Debt Service Fund <br /> to be used to pay healthcare related costs, including the debt service costs related to construction <br /> of the hospital; the hospital Public Employees Retirement System (PERS) liability; debt service <br /> costs related to construction of Seward Mountain Haven (if necessary); and to finance major <br /> repair and replacement costs associated with healthcare; and <br /> WHEREAS, the 2011 Operating Budget included an estimated amount of $981,632 in <br /> sales tax revenues to be transferred from the General Fund to the Hospital Debt Service Fund, <br /> based on estimated total sales tax cash receipts of $3,926,526; and <br /> WHEREAS, the actual sales tax receipts from the Kenai Peninsula Borough during 2011 <br /> are expected to exceed budgeted estimates by approximately $99,810, requiring an additional <br /> transfer of $24,953 to the Hospital Debt Service Fund, for a total annual transfer from the <br /> General Fund to the Hospital Debt Service Fund of $1,006,584. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF SEWARD, ALASKA, that: <br /> Section 1. The 2011 Operating Budget shall be amended as follows: 1) increase sales <br /> tax revenue account 101- 0000 - 4120 -0100 by $99,810; and 2) appropriate an additional $24,953 <br /> from the General Fund Transfers -Out account no. 101- 0000 - 3071 -0801 to the Hospital Debt <br /> Service Fund Transfers -In account no. 801- 0000 - 3070 -0101. <br /> Section 2. The 2011 Operating Budget amendment shall be effective retroactive to <br /> December 31, 2011. <br /> Section 3. This resolution shall be effective upon passage and posting. <br /> PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this <br /> 13th day of February, 2012. <br />