1969-17 Authorizing the Loan of $15K from NBAAN ORDINANCE OF THE KODIAK ISLAND BOROtJQj AUTHORIZING THE LOAN
OF $15,000.00 FROM THE NATIONAL RANK OF A KA Tp THE KODIAK IS ?iD BOROUGH
ORAL ACCOUNT Ta BE REPAID WITHIN ONE YEAR.
WfEPEAS, The Kodiak Island Borough has been advised by the School
Board that the Regional High School Vocational Department has drafted a
house - building project, and
WHEREAS, the amount of money necessary to finance the said project
is estimated to be $15,000.00, and
WHEREAS, the Vocational School Administration recarmerr.s that a
separate loan be negotiated to underwrite the cost of the house- building
project, and
WHEREAS, the finish r project will be sold at public auction, thus
recovering the amount of the loan.
WHEREAS, it is hereby found to be in the best interest of the
Borough to AUTHORIZE THE LOAN OF TAE SUM OF Fijr THOUSAND ($15,000)
DOLIARS AND No /100ths to the Kodiak ISLAND BORO General Account to be
repaid within one (1) year:
NOW, THEREFORE, BE IT 01�AIDED by the Borough Assembly of the
Kodiak Island Borough as follows:
Section 1. 1�C1AN AUTHORIZATION. The Chairman and Clerk of the
Kodiak Island Borough are hereby authorized and anpowered to
effect the loan of $15,000.00 fran the National Bank of Alaska
to the General Account of the Kodiak Island Borough, to be repaid
within ore (1) year.
Section 2. PUBLICATION. Publication os 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 newspaper of general circulation in the Borough.
A copy of the ordinance shall be posted in a public place at the
Borough seat.
PASSED by the Borough Assembly of the Kodiak Island Boro
Kodiak, Alaska, and approved by the Borough Chairman this day
of Juihy, 1969 .
KODIAK ISLAND BOROUGH
O fl ANC NUMBER 69 -17-0
KODIAK ISLAND BOROUGH
U Borough Clerk
First Reading: June 19th, 1969
Seoand Reading, Public Hearing and Passage date: July 3rd, 1969
Effective Date: August 3rd, 1969