1972-04 Authorizing Loan for $7K to the Kodiak Community College2 2 7
c_ KODIAK ISLAND BOROUGH
ORDINANCE NUMBER 72 -4 -0
AN ORDINANCE OF THE KODIAK ISLAND BOROUGH ASSEMBLY
AUTHORIZING THE LOAN OF SEVEN THOUSAND AND NO /100THS ($7,000.00)
DOLLARS TO THE KODIAK COMMUNITY COLLEGE FOR THE PURPOSE OF
:ONSTRUCTING AN ACCESS ROAD INTO THE COMMUNITY COLLEGE BUILDING
SITE
WHEREAS, the construction of the Kodiak Community
College has been funded and the contract has been let by the
University of Alaska, but before construction can commence, it is
necessary that an access road into the College site be constructed
and due to the fact that the contract was let for the exact amount
of money needed for the building, the College no longer has funds
on hand for the road, sewer or water, and
WHEREAS, the City of Kodiak has reached an agreement
whereby it will place the sewer and water lines in for a monthly
charge of ONE HUNDRED and No /100ths ($100.00) DOLLARS, plus
water service charges, and there only remains the cost of
.constructing an access road to the site.
NOW, THEREFORE, BE IT ORDAINED by the Kodiak Island
Borough Assembly as follows:
Section 1. The sum of SEVEN THOUSAND and No /100ths
,.•:.
DOLLARS is hereby appropriated from Account No. 521,
Land Survey Reserve Account, to be loaned to the Kodiak Community
College for the express purpose of constructing an access road
to the Community College building site.
Section 2. The Kodiak Community College will repay
this sum to the Kodiak Island Borough out of its next budget,
in which capital funds are authorized.
Section 3. The Kodiak Island Borough Budget will be
amended to reflect the transfer of these funds from Account No.
Page One, ORDINANCE NO. 72 -4 -0
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21, L. .Survey Reserve Account, to the Kodiak Community College
.s a 1
KODIAK ISLAND BOROUGH
By l
Chairman
t
By .-Y\ C
Pres ing 0 f cer
ATTEST:
BorE�UgFi erk
FIRST READING AND APPROVAL DATE: March 2, 1972
SECOND READING AND PASSAGE DATE: April 6, 1972
EFFECTIVE DATE: May 6, 1972
Page Two, ORDINANCE NO. 72 -4 -0