DENALI BOROUGH, ALASKA

ORDINANCE NO: 96-17

ALL VERSIONS FAILED

INTRODUCED BY: Mayor Gonzales

 

AN ORDINANCE AMENDING ORDINANCE NO. 96-01.

 

BE IT ENACTED by the Assembly of Denali Borough, Alaska that:

 

Section 1.  Classification.

 

This ordinance is of a general and permanent nature.

 

Section 2. Ordinance No. 96-01 Amended.

 

The assembly’s budgetary reserve shall be no less than $50,000. [shall be no less than 15% of the funds available for budgetary purposes for the following fiscal year as of January 1st of the calendar year.]

 

Section 3.  Remaining Funds.

 

[At the end of the fiscal year] Upon adoption of the budgetary ordinance all remaining funds that are in the Assembly Budgetary Reserve will be appropriated to the Permanent Investment Fund. [50% of the remaining funds that are in the Assembly contingency line item will revert back to the general fund.  The other 50% will be invested in the Permanent Investment Fund].

 

Section 4.  Expenditures.

 

Expenditures of the Assembly Budgetary Reserve shall be by separate ordinance  passed by a majority vote of the Assembly.

 

Section 5.  Effective Date.

 

This ordinance becomes effective upon adoption by the Denali Borough Assembly and signature of the Mayor.

 

DATE INTRODUCED:                                      

 

FIRST READING:                                               

 

PUBLIC HEARING:                                              

 

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this    Day

of                    , 19  .

 

____________

Mayor 

 

ATTEST:                    ____________

Borough Clerk