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KODIAK ISLAND BOROUGH SPECIAL ASSEMBLY
SEPTEMBER 12, 1974
1 CALL TO ORDER
The meeting was called to order by Presiding Officer, Mr. Charles Powell,
at 1:45 p.m. In the Meeting Room of the Kodiak Island Borough Office Building.
II ROLL CALL
PRESENT ABSENT
Mr. C. Ross Wood, Mayor
Mr. Charles Powell
Mr. Fred Brechan
Mrs. Betty Wallin
Mr. Howard Anderson (excused)
Also present were Mr. Leonard Matz and Mr. Phil Abel of EF Hutton Company
and Mr. Urban Schreiner of the Bond Council and the Borough Attorney,
Mr. Warren Collier
III NEW BUSINESS
Mr:leartl Mat ezplarta the slttutemeOwer ve present they
have a $250,000 Toss selling the bonds and would like to submit a new
refunding schedule which will hopefully underwite the present loss and
at the same time save the Kodiak Borough 870,000 that the Borough has to
pay out for its debt. Mr. Abel explained the proposal to the Assembly. He
noted that as of October 1, 1974, Kodiak Island Borough will have out-
standing $3,920,000 GO Refunding Bonds dated April 1. 1974. A portion
of these bonds outstanding may be refunded by the Borough. EF Hutton
Company proposed to buy the $1,900,000 Refunding bonds dated August 1, 1974
maturing August 1, 1986 through August 1. 1992 at a 7.25$ coupon rate
plus accrued Interest. Outstanding bonded Indebtedness of the Borough will
be reduced by $150.000. There will be no out -of- pocket expenses to the
Borough In this transaction. The total amount of the debt service payment
will be reduced by $69.838.33. Mr. Schreiner gave a brief explanation on
the bonding counsel's concern with this transaction and Its legality. Mr. Brechan
felt that the whole Assembly should be present before any action would be
taken. Mr.Powell noted that the first reading of the ordinance could be on
the regular meeting of the 19th and second reading and public hearing on the
26th of September. In this case It would be completed before the October
issue date. Mr. Brechan noted he will not be here for the meeting of the 12th
but would be present for the public hearing on the 26th of September.
Instructions were given to have an ordinance drawn authorizing this
refunding as set forth in EF Hutton proposal.
B. Passage of Emergency Ordinance No. 74 -40 -EO - Waiving Publication
Requirements for Bids for Capital Projects (Completion of Ouzlnkie School
Sewer 5 Water Unes) - Mr. Brechan moved for adoption of Ordinance 74- 40 -EO.
Seconded by Mrs. Wallin. Motion passed by unanimous roll call vote.
IV ADJOURNMENT
The meeting was adjourned at 2:45 p.m.
APPROVED: ATTEST:
i
Norma L. Holt, Borough Clerk C. Ross Wood, Borough Mayor
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KODIAK ISLAND BOROUGH ASSEMBLY MEETING
SEPTEMBER 20, 1974
CALL TO ORDER
The meeting was called to order by Mr. Charles Powell, Presiding Officer,
at 6:05 p.m. in the Borough Meeting Room, Borough Building, Kodiak,
Alaska. For the record it was noted that this was a continuation of the
meeting scheduled for September 19th, which was cancelled due to lack of
a quorum.
11 ROLL CALL
III NEW BUSINESS
Present Absent
Mr. Wood, Borough Mayor Mr. Fred Brechan (excused)
Mr. Charles Powell, Presiding Officer
Mrs. Betty Wallin
Mr. Howard Anderson
A. First Reading of Ordinance 74 -41 -0 Rescheduled Refunding of 1974 GO
Bonds read by title only. Mrs. Wallin moved for adoption of Ordinarce
No. 74 -41 -0 in the first reading, seconded by Mr. Anderson. Mr. Wood
stated that the bonding counsel has been checking into this and would advise
if there are any problems. The question was called and the motion passed by
unanimous roll call vote. It was noted that a public hearing and second reading
wil; be held on the proposed ordinance on September 26th, 1974, at 6. 30 D. M.
just prior to the City Council meeting.
B. Resolution 74 -43 -R Approving the Final Plat on the Vacation and Res at
of Lots 9 E 10, Block 8, Leite Addition, (Bill Bardot) . Mr. Andersor
for approval of Resolution 74 -43 -R, seconded by Mrs. Wallin. It was -
that this replat was being done to obtain better building sites. Quest r
and motion passed by unanimous roll call vote.
C. Resolution 74 -44 -R approving the Final Plat on the Island Vista 5..:..:, . - r,
Monashka Bay Area, Block 1, 2, 3 6 4 (Island Resources) . Mrs. Wa. .. ..
for approval of Resolution 74 -44 -R, seconded by Mr. Anderson. vc:. r -�
by unanimous roll call vote.
D. Resolution 74 -45 -'R Approving the Final Plat on the Subdivision of _
Survey 1396, Russell Estates, Block I, 2 6 3, northern side of Lily LaKe _ e
Russell). Mr. Anderson moved for approval of Resolution No. 74 -46 -4
seconded by Mrs. Wallin. Question called for, motion passed by unan,_. .>
roll call vote.
E. Ratification of Administrative Action Regarding Village Liquor Stor•t
in McDonald's Meat Market. Mr. Wood explained that a letter had been . •
from the ABC Board asking if the Borough had any objection to the iss.-.,.
this retail license and since the Board would be meeting within two da. •
receipt of the letter, the Borough Administration contacted the Assemc. , .. .
telephone for course of action. A letter of non - objection was sent and • ^e
Assembly was requested to ratify this action. Mrs. Wallin moved for r.,: • r
of letter of non - objection to locating a liquor store in McDonald's M ®t :'dr -.
seconded by Mr. Anderson. Motion passed by unanimous roll call vote
F. First Reading Ordinance No. 74 -42 -0 Modifying the Minimum Lot
Requirements for Unclassified Zones, read by title only. Mr. Anderson .
for approval of Ordinance No. 74 -42 -0 in the first reading, seconded by s
Wallin. Motion passed by unanimous roll call vote. Noted that the pubis.
hearing will be set for October 3rd, 1974.
IV ADJOURNMENT
There being no further business before the Assembly, the meeting was
adjourned at 6:25 p:m.
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BOROUGH ASSEMBLY MEETING - SEPTEMBER 20, 1974 Page 2
ATTEST:
Atie A te
Borough Clerk
APPROVED:
q 15
Borough Mayor