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1981-20 Revising the KIB Municipal Code Title 3q 1 '7 1 z 1 1 7 KODIAK ISLAND BOROUGH ORDINANCE NUMBER 81 -20 -0 AN ORDINANCE OF THE KODIAK ISLAND BOROUGH ASSEMBLY REVISING THE KODIAK ISLAND BOROUGH MUNICIPAL CODE TITLE 3. The Kodiak Island Borough Assembly ordains: Chapter 3.04, Section 3.04.040 Basis of Accounting is amended to read: Accounting of the budget will be prepared on a modified accrual basis, which is described as: revenues being recognized when cash is received, !;including the school district, state and federal grants, which shall be ;recognized whether received or not, and expenditures being recognized as soon li as they result in li a)ilities for benefits received. Chapter 3.16 Contract, Purchase and Sale Procedure: in all sections reference to "Mayor" is amended to read "Manager ". Section 3.16.020 Limitations on Manager's Authority is amended to read: The manager may not make an acquisition, sale, transfer or contract authorized by Section 3.16.010 of this chapter if the value of the property, service or contract exceeds five thousand dollars, without first obtaining assembly approval. Section 3.16.030 Open Market Procedures A is amended to read: 1 , Purchases, sales or contracts authorized by Section 3.16.010 having an estimated value in excess of five thousand dollars but less than ten thousand dollars shall be made in the open market without newspaper advertisement. Section 3.16.040 Advertising for Bids A is amended to read: 1 Purchases, sales or contracts authorized by Section 3.16.010 having an estimated value of more than ten thousand dollars may be made only after a Hnotice calling for bids is printed in a newspaper of general circulation published within the borough once a week for not less than three consecutive weeks prior to the date for the bid award. The notice shall contain a general description of the property, work or service; state where the bid forms and specifications may be obtained; specify the place for submission of bids and the time by which they must be received. PASSED AND APPROVED this 4th day of June , 1981. KODIAK ISLAND BOROUGH ATTEST: •ugh C1 -,` B Y to Borough Moor N By Bo First Reading and Approval Date: May 7, 1981