FY2009-14 Repealing Education FundIntroduced by: Manager Gifford
Drafted by: Mayor Selby
Requested by: Mayor Selby
Introduced: 01/22/2009
Public hearing: 02/19/2009
Adopted: 02/19/2009
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2 KODIAK ISLAND BOROUGH
3 ORDINANCE NO. FY2009 -14
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5 AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
6 AMENDING KODIAK ISLAND BOROUGH CODE OF ORDINANCES TITLE 3 REVENUE AND
7 FINANCE CHAPTER 3.10 PUBLIC FINANCE — MANAGEMENT AND ACCOUNTING BY
8 REPEALING SECTION 3.10.130 EDUCATION FUND.
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10 WHEREAS, Ordinance No. 96 -14 was adopted in 1996 when the Kodiak Island Borough's
11 portion of the Exxon Valdez oil spill settlement funds was anticipated to be approximately $20
12 million; and
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14 WHEREAS, the concept of a permanent fund to provide long term funding assistance for
15 educational objectives was a good concept for a permanent fund which would produce an
16 estimated $2 million per year; and
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18 WHEREAS, the actual settlement funds include no additional distribution for the Borough; will
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26 NOW, THEREFORE BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
27 BOROUGH THAT:
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29 Section 1: This ordinance is of a general and permanent nature and shall become a part of the
30 Kodiak Island Borough Code of Ordinances.
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32 Section 2: Section 3.10.030 of the Kodiak Island Borough Code is repealed as follows:
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34 Chapter 3.10
35 PUBLIC FINANCE — MANAGEMENT AND ACCOUNTING
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37 Sections:
38 3.10.010 General treasury management.
39 3.10.020 Authority.
40 3.10.030 Permissible investments.
41 3.10.040 Terms defined.
42 3.10.050 Repealed.
43 3.10.060 Collateral safekeeping.
44 3.10.070 Diversification of investments.
45 3.10.080 Investment records.
46 3.10.090 Deposit of school money.
. ... . gee
and
Kodiak Island Borough Ordinance No. FY2009 -14
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3.10.100 Basis of accounting.
3.10.110 Funds.
3.10.120 Facilities fund.
3.10.130 Education fund.
3.10.140 Fern Fuller fund.
3.10.150 Land sale fund.
3.10.160 Penalties.
3.10.170 General fixed assets.
3.10.180 Distribution of funds.
3.10 Review of service fees.
3.10.200 Post audit.
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91 ATTEST:
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94 ! A L♦
95 No a M Javier, CMC, -orough Clerk
time- by- erdinanse:
IcIand -- Borough-
{Ord. 96 14 §2, 1996. Formerly §3.04.052].
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS NINETEENTH DAY OF FEBRUARY, 2009
Kodiak Island Borough
KODIAK ISLAND BOROUGH
me M. Selby, Bor
Ordinance No. FY2009 -14
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