DENALI BOROUGH, ALASKA

RESOLUTION NO. 93-11

A RESOLUTION TO AUTHORIZE PARTICIPATION IN THE DISTRIBUTION OF FUNDS KNOWN AS THE CIGARETTE TAX FUND.

WHEREAS, the Denali Borough as the appropriate governing body, is desirous of participating in the distribution of funds under the provision of AS 43.50.140, known as the Cigarette Tax Fund, and

WHEREAS, under the terms of this Statute, the funds are to be used for the exclusive purposes of major repair and rehabilitation, construction, insurance, and debt retirement.

THEREFORE BE IT RESOLVED:

1.) That the funds will be used in accordance to the terms set forth above, as designated by the Denali Borough School Board.

2.) That the money received and spent will be accounted for in a separate fund.

3.) That income derived from the investment of cigarette tax money will be credited to the fund and spent for the purposes describe above.

4.) That disbursements will be made only upon specific authorization of the local school board.

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this 12th day of September, 1993.

SIGNATURE ON FILE

Mayor

ATTEST: SIGNATURE ON FILE

Borough Clerk

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Acknowledgment by the School District Superintendent:

SIGNATURE ON FILE

Superintendent Date