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<br />I <br /> <br />I <br /> <br />I <br /> <br />Sponsored by: Janke <br /> <br />CITY OF SEWARD, ALASKA <br />RESOLUTION 2002-023 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br />ALASKA, SUPPORTING A LONG-RANGE FISCAL PLAN THIS YEAR <br />THAT ENSURES A STABLE FUTURE FOR ALL ALASKANS BY <br />PROMOTING AFFORDABLE STATE AND LOCAL TAX LEVELS AND <br />ADEQUATE STATE AND LOCAL SERVICES <br /> <br />WHEREAS, one dollar out of three spent this year in the State General Fund budget ($865 <br />million out of $2.4 billion) is projected to come from Alaska's savings; and <br /> <br />WHEREAS, according to the Alaska Department of Revenue, by mid-year 2004, the "fiscal <br />gap" is projected to be over $1 billion and Alaska's savings account (Constitutional Budget Reserve) <br />will be fully depleted if action is not taken this year; and <br /> <br />WHEREAS, the state should continue to implement efficiencies and reasonable service <br />reductions, but also recognize that reductions alone cannot solve the magnitude of the projected <br />fiscal gap. In addition, certain services, such as deferred maintenance of state facilities, including <br />schools and roads, will require additional funding; and <br /> <br />WHEREAS, a long-range fiscal plan should have the following guiding principles: the plan <br />provides financial stability; the plan is sustainable; the plan advances financial investment policies <br />that maximize returns of the state assets; and the plan is fair; and <br /> <br />WHEREAS, if action is taken this year, Alaska can avoid depleting the Constitutional <br />Budget Reserve, and use this last saving account to act as a cushion for Alaska to avoid harsher cuts, <br />higher taxes, and/or greater use of Permanent Fund earnings to solve the fiscal gap. <br /> <br />NOW, THEREFORE, BE IT RESOL VED BY THE CITY COUNCIL OF THE CITY <br />OF SEWARD, ALASKA, that: <br /> <br />Section 1. City of Seward citizens are encouraged to contact Governor Knowles, Senator <br />Torgerson, and Representative Lancaster and urge them to take action this legislative session to <br />adopt a fiscal plan that avoids a fiscal crisis in 2004. <br /> <br />Section 2. This resolution shall take effect immediately upon its adoption. <br /> <br />PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 11 th <br />day of March, 2002. <br />