It is the general purpose of this chapter, among other things, to provide a means whereby the economy of the city can be diversified by providing a port of Ketchikan to provide an Alaskan ferry winter maintenance base, to expand the cruise ship industry, and a container transshipment center, and to expand the trading and transportation access to the downtown area by commercial fishing and industrial vessels.
(Ord. 834 § 1, 1975)
The port of Ketchikan, owned and operated by the city, shall be operated from a fund or funds separate from the general fund. An accounting system for each such fund shall be established within the department of finance and shall be set up and maintained so as to reflect the financial condition of the enterprise, its income and expense. A balance sheet and statement of income and expense shall be made for each such fund annually and as often as the city council may require.
(Ord. 834 § 5, 1975)
None of the income money or property of the port of Ketchikan enterprise shall be placed in the general fund or be used for the benefit of anything outside of the fund to which it belongs without due compensation or due value received and returned; provided, that this shall not prohibit payment into the general fund of the city by the port of Ketchikan enterprise of an amount in lieu of taxes reasonably estimated to be the amount which the enterprise would pay in taxes if it were privately owned.
(Ord. 834 § 6, 1975)