MEMORANDUM

TO: Timothy Navarre, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Jeff Sinz, Finance Director

DATE: June 7, 2001

SUBJECT: Ordinance 2001-19-01, appropriating funds for the K-B Subdivision Road Improvement Assessment District ("RIAD")

This ordinance is a companion ordinance to Resolution 2001-____ which authorizes the administration to proceed with forming the K-B Subdivision RIAD and proceeding with the proposed road improvements. The estimated cost for this RIAD is $348,156. This ordinance would appropriate that sum to the assessment fund from the general fund to pay for the improvements. If the district is established and the money spent, the assessment fund will be reimbursed with payments received from the affected property owners pursuant to the assessments. Hearing on shortened time is requested because of the short construction season and the necessary bid process preceding the construction.