1982-28 Authorizing Interfund Borrowing For Phase II Of The Capital Projects For School Facilities.KODIAK ISLAND BOROUGH
RESOLUTION NO. 82 -28 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING INTER -
EUND BORROWING FOR PHASE II OF THE CAPITAL PROJECTS FOR SCHOOL FACILITIES.
WHEREAS, the Kodiak Island Borough Assembly has caused the Mill Bay
School Complex Master Plan to be completed in order to aid
,regarding Phase II of the school construction in decisions
Program, and
WHEREAS, the Kodiak Island Borough School District has recommended
that the Borough proceed with remodeling the Junior High and designing the
auditorium complex, and
WHEREAS, funding for Phase II of the school facilities is not readily
available in that the 16.9 million dollars of bond authorization is unissued,
and
WHEREAS, it is expedient for the Assembly to proceed with the
engineering and design of the first portion of the Phase II project, and
WHEREAS, the Capital Projects Fund Phase I has accumulated revenues
through investment practices that are in excess of current known project
requirements and such funds are available in short -term investments.
NOW, THEREFORE, BE IT RESOLVED that the Borough Manager is authorized
and directed to use any amount necessary up to a maximum of seven hundred
sixty -eight thousand three hundred dollars ($768,300) to accomplish any and
all tasks relative to engineering and design of the first portion of Phase II.
These funds are made available without interest
of the s (since same are in effect part
ame fund) from Phase I, but upon funding of Phase II,
'restored to Phase I, such funds will be
if needed, to cover any cost overruns, contingencies or
any other legal expenditures relative to project completion.
PASSED AND APPROVED this L_
�+ day of , ��t,.�
I Borough Assembly, 7--=�' 1 982 by the
it
ibTTEST:
I BY �. nA
II Borough Cl°- -_�id*- 1.( !
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KODIAK ISLAND BOROU H