Loading...
FY1965-1 Emergency Ordinance to Borrow FundsKODIAK ISLAND BOROUGH EMERGENCY ORDINANCE NUMBER 65 -1 AN EMERGENCY ORDINANCE OF THE KODIAK ISLAND BOROUGH, KODIAK, ALASKA, PROVIDING FOR THE BORROWING OF FUNDS TO MEET CURRENT EXPENSES BE IT ORDAINED RY THE BOROUGH ASSEMBLY OF THE KODIAK ISLAND BOROUGH AS FOLLOWS: WHEREAS, the Kodiak Island Borough assumed the responsibility for the levying, assessment and collection of taxes for the year 1965 and WHEREAS, much of the initial work in the levying assessment and assessment of taxes was done in the fiscal year 1964 during a period in which the Kodiak Island Borough received no income from tax sources other than the last quarter of the raw fish tax and WHEREAS, the Kodiak Island Borough will not receive any further income until approximately April of 1965 from raw fish tax and until approximately August from real and personal property taxes and WHEREAS, the Kodiak Island Borough has no funds with which to continue its operations. NOW, THEREFORE, be it ordained by the Borough Assembly of the Kodiak Island Borough that the Kodiak Island Bor- ough be and the same is hereby authorized to borrow a sum not to exceed FORT, THOUSAND AND No /100ths ($40,000.00) DOLLARS to be Page One, KODIAK ISLAND BOROUGE, EMERGENCY ORDINANCE NO. 65 -1 used for operating expenses of thOorough until such a time as the Borough receives its next payment of raw fish tax receipts from the State of Alaska, and that the Borough Chairman and presiding officer be authorized to sign any and all necessary documents in connection with said loan. It is hereby declared by the Kodiak Island Borough Assembly that an emergency exists which affects the welfare of the residents of the Kodiak Island Borough in that the Borough is unable to meet its current operating expenses without burrowing these funds, therefore, this ordinance shall become effective upon adoption by the affirmative vote of all assembly members present or the affirmative vote of three- fourths (J/4) of those elected. Adopted by the Kodiak Island Borough. Assembly of Kodiak, Alaska, on January 5, 1965. ATTEST: PRESIDING 0 •ICER ARLES A. POWELL Page two, KODIAK ISLAND BOROUGH, EMERGENCY ORDINANCE NO. 65 -1