Chapter 4.35
COMMERCIAL PASSENGER VESSEL TAX FUND

Sections:

4.35.010    Purpose.

4.35.020    Management responsibility.

4.35.030    Revenues.

4.35.040    Expenditures.

4.35.050    Accounting of earnings.

4.35.010 Purpose.

A special revenue fund of the borough is hereby established in order to manage and monitor borough funds received from the state of Alaska commercial passenger vessel tax and to ensure that expenditures of funds from that tax are only expended for authorized purposes. Authorized purposes include those purposes which are linked to the impacts of the commercial passenger vessels and the passengers who are subject to the tax. Additionally, expenditures must be solely to pay the cost of service to the vessel or watercraft; and to enhance the safety and efficiency of interstate and foreign commerce. [Ord. No. 1477, §8, 4-21-08. Code 1974 §40.14.005.]

4.35.020 Management responsibility.

Management of the borough commercial passenger vessel tax fund shall be the responsibility of the borough manager or other person designated by the borough manager. [Ord. No. 1477, §8, 4-21-08. Code 1974 §40.14.010.]

4.35.030 Revenues.

The borough commercial passenger vessel tax fund shall include: (a) all funds received in the form of direct grants or direct payments to the borough from the state of Alaska commercial passenger vessel tax as part of the payments to the first five ports of call; and (b) all revenues or receivables generated from property or investments of such funds. [Ord. No. 1477, §8, 4-21-08. Code 1974 §40.14.015.]

4.35.040 Expenditures.

All revenues and fund balances of the borough commercial passenger vessel tax fund shall remain in the fund subject to appropriation by the borough assembly. [Ord. No. 1582, §6, 1-17-11; Ord. No. 1477, §8, 4-21-08. Code 1974 §40.14.020.]

4.35.050 Accounting of earnings.

The net income of the borough commercial passenger vessel tax fund shall be computed in accordance with generally accepted accounting principles. [Ord. No. 1477, §8, 4-21-08. Code 1974 §40.14.025.]