1973-01 Appropriating $15K to Kodiak HospitalKODIAK ISLAND BOROUGH
ORDINANCE NUMBER 73 -1 -0
AN ORDINANCE OF THE BOROUGH ASSEMBLY OF THE KODIAK
�) ISLAND BOROUGH APPROPRIATING FIFTEEN THOUSAND AND NO /100ths
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TO THE KODIAK
DO WORKING
ISLAND HOSPITAL /THEGREYCNUNSAOFFTHE SACRED HEART I AS LESSEES TO MEET THE CURRENT FINANCIAL OBLIGATIONS AND DECLARING
AN EMERGENCY
I WHEREAS, the Kodiak Island Borough has entered into
a Lease Agreement with the Grey Nuns of the Sacred Heart to
operate the Kodiak Island Borough Hospital for a period of
fifty -five (55) years and
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i WHEREAS, pursuant to the terms of the Lease the Lessee
I is to apply any profits, first toward any previous years deficits
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before otherwise expending them, and the Kodiak Island Borough
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I agreed to make up any deficit incurred by the Lessee from the
operation of the Kodiak Island Hospital on a yearly basis, in an
amount not to exceed Seventy -five percent (7S %) of the previous
j year's uncollected accounts receivable and
WHEREAS, the Kodiak Island Borough on the Third (3rd)
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day of August, 1972, advanced to the Grey Nuns of the Sacred
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Heart for the operation of the Kodiak Island Hospital the sum
I of TWENTY -FIVE THOUSAND AND NO /100ths ($25,000.00) DOLLARS
without interest which sum was to be paid on or before October 1,
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1972 and
WHEREAS, the Grey Nuns of the Sacred Heart are unable to
repay said amount and desire an extension of the payment date
for a period of One (1) year and in addition desire to borrow an
additional FIFTEEN THOUSAND AND NO /100ths ($15,000.00) DOLLARS
to be paid at the rate of FIVE THOUSAND AND NO /100ths ($5,000.00)
DOLLARS each month for Three (3) months to assist the Hospital
in meeting its current financial obligations,
NOW, THEREFORE, BE IT ORDAINED by the Kodiak Island
Borough Assembly as follows:
Section 1. There is hereby appropriated the sum of
FIFTEEN THOUSAND AND NO /100ths ($15,000.00) DOLLARS from the
General Government Operating Account 143.35 Working Capital to
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be loaned—to the Grey Nuns of the Sacred Heart, specifically
for use in the operation of the Kodiak Island Hospital said
sum to be advanced FIVE THOUSAND AND NO /100ths ($5,000.00)
DOLLARS each month for a period of Three (3) months commencing
with the month of December, 1972.
Section 2. The sum above referred to together with
the TWENTY FIVE THOUSAND AND NO /100ths ($25,000.00) DOLLARS
loaned to the Grey Nuns of the Sacred Heart on August 3, 1972 to
be repaid on or before October 1, 1973 without interest.
Section 3. The Kodiak Island Borough Budget for the
fiscal year 1972 -1973 be and the same is hereby amended to
reflect this change.
Section 4. It is hereby declared that a Public
Emergency affecting the welfare and property of the Borough
exists and that it would be disasterous for the Borough if the
Hospital were to have to curtail its operations due to a shortage
of funds.
Section S. This Ordinance is to be come effective
thirty (30)-days afters is passage and approval by the affirmative .
vote of all members present or the affirmative vote of three- i
!j fourths (3/4) of the total membership of the Kodiak Island
Borough Assembly whichever is less. i
�I PASSED AND APPROVED THIS ! 44 ' DAY OF G"�fiA,lu �/ 1973.
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KODIAK ISLAND BOROUGH
By
i Borough a.1rman
r
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By
Press. ing icer
'I ATTEST:
Acting Borough Clerk
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First Reading and Approval Date: January 4th. 1972
Second Reading, Public Hearing and Passage Date: February 1, 1973
Effective Date: March 1, 1973
PAGE TWO ORDINANCE NO. 73 -1 -0
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