FY1967-10 Transfer of $36K to School DistrictWHEREAS, the Kodiak Island Borough School Board has advised the
Borough Assembly that Federal Funds due and owing the Kodiak Island
Borough have not been paid by the Federal Government and it is expected that
said funds will not be available for sixty (60) days;
WHEREAS, the Kodiak Island Borough School Board is greatly in need
of the sum of $36,000.00 to meet current payroll obligations;
WHEREAS, the failure to timely pay said payroll would embarrass
and have a detrimental effect on the financial and professional reputation
of the Community;
WHEREAS, it is hereby found to be in the best interest of the
Borough to loan the sum of $36,000.00 to the Kodiak Island Borough School
Board account for the current fiscal year, to be repaid within sixty (60)
days;
NOW, THEREFORE, BE IT ORDAINED by the Borough Assembly of the
Kodiak Island Borough as follows:
Section 1. Declaration of Emergency. An emergency is hereby
declared to exist affecting the life, health,
welfare and property of the Borough.
PASSED by the Borough Assembly of the Kodiak Island Borough, Alaska,
and approved by its Borough Chairman this 1st day of June, 1967.
AN ORDINANCE OF THE KODIAK ISLAND BOROUGH AUTHORIZING THE
TRANSFER OF $36,000 FROM THE GENERAL FUND TO THE SCHOOL
BOARD ACCOUNT TO BE REPAID WITHIN 60 DAYS; AND DECLARING
AN EMERGENCY
Section 2. Loan Authorization. The Chairman and Clerk of the
Kodiak Island Borough are hereby authorized and
empowered to transfer the sum of $36,000 from the
General Fund to the account of the Kodiak Island
Borough School Board, to be returned to the General
Fund within sixty (60) days hereof.
Section 3. Publication. Publication of this ordinance shall be
made by publishing a summary thereof in a newspaper
of general circulation in the Borough and copies of
the ordinance shall be mailed to all newspapers of
general circulation in the Borough. A copy of the
ordinance shall be posted in a public place at the
Borough seat.
KODIAK ISLAND BOROUGH
EMERGENCY ORDINANCE NO. 67 -10 -EO
KODIAK ISLAND BOROUGH, ALASKA
BY IF,
Presiding Officer
BY ,1.1 � i.,�TG(�
Borough Chairman