MEMORANDUM

TO: Timothy Navarre, Assembly President

Members, Kenai Peninsula Borough Assembly

FROM: Timothy Navarre, Assembly President

DATE: July 25, 2002

SUBJECT: Ordinance 2002-32, appropriating $300,000 in interest income for firefighting equipment and construction

This ordinance appropriates $300,000 in interest income remaining from the spruce bark beetle congressional grants received by the borough to be spent for firefighting equipment and construction. The remaining balance of interest earnings from congressional grants is approximately $380,000. In my opinion, spending the money in this manner is entirely consistent with congressional purposes in appropriating the grant funds and will help provide a tangible long-term benefit for the borough residents. Your support of this ordinance would be appreciated.