1980-32 Designating Use For "The Sale Of Land Funds."7 9 1
KODIAK ISLAND BOROUGH
RESOLUTION NO. 80 -32 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY DESIGNATING USE
FOR "THE SALE OF LAND FUNDS ".
WHEREAS, the Kodiak Island Borough has established an account within
the Borough annual operating budget identifying revenues derived from the sale
of Kodiak Island Borough owned lands. And;
WHEREAS, in the past there has been no specified use for expenditure',
of these revenues. And;
WHEREAS, former assemblies have utilized some funds from this
account to subsidize general government operational costs. And;
WHEREAS, it is the intent of the assembly to establish a policy
regulating future use of these funds. And;
WHEREAS, the assembly finds that funds from the sale of lands should
be limited to development of Borough lands for future sale and can only be
used for associated subdivision development purposes such as, land surveys,
plat preparation, road sewer, and water construction, etc. And;
WHEREAS, if it becomes necessary to utilize funds from this account
for other purposes, said expenditures should be in the form of a loan to be
paid back as directed by the Assembly as though the funds had been obtained
by a loan from a lending institution or bond sale.
NOW T7EREFORE BE IT RESOLVED by the Kodiak Island Borough Assembly
that the future use of funds from the sale of Kodiak Island Borough lands
shall be limited to those provisions contained in this resolution.
PASSED AND APPROVED this day of , 1980.
By
Borough Clerk
KODIAK ISLAND BOROUGH
By
Borough Mayor