MEMORANDUM

TO:                 Ron Long, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU:           John J. Williams, Mayor

FROM:          Craig Chapman, Finance Director

DATE:           May 23, 2006

SUBJECT:    Ordinance 2006-19-54, Appropriating $2,500,000 in Central Emergency Service Area General Obligation Bond proceeds to pay the cost of planning, designing, constructing, equipping, and financing a fire station in Kasilof, acquiring and renovating the fire station in the Funny River area, and related capital improvements in the Central Emergency service area

The attached ordinance appropriates $2,500,000 in Central Emergency Service Area (“CES”) general obligation bonds to the service area’s capital project fund for costs associated with capital improvements related to CES.

Shortened hearing is requested on this ordinance. Shortened hearing will allow the construction of the Kasilof station to start in June.

This appropriation is conditioned upon the borough’s receipt of bond proceeds, which are expected to be available on June 21, 2006.