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AN ORDINANCE TO APPROPRIATE $823,965 IN THE CAPITAL <br />IMPROVEMENTS FUND TO FUND VARIOUS SCHOOL CAPITAL <br />IMPROVEMENTS. <br /> <br /> BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br /> l. That the sum of $823,965 be, and the same hereby ts, appropriated from <br />the Capital Improvements Fund for various School Board capital improvement costs <br />related to the air conditioning of schools in accordance with the plan presented to Council <br />by the School Board. <br /> <br /> 2. That the source of the appropriated funds shall be derived first fi:om <br />interest earnings on the proceeds from Qualified Zone Academy Bonds and state School <br />Construction and Lottery Funds and then from the City's General Fund balance. <br /> <br /> 3. That a transfer of $486,965 from the General Fund Contingency Account <br />to the Capital Improvements Fund is authorized to fully fund the appropriation. <br /> <br /> 4. That the expenditure of such funds shall be in accordance with applicable <br />federal and state expenditure requirements for such monies. <br /> <br /> 5. That this ordinance shall take effect on the date of its adoption. <br /> <br /> ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on June 12, 2001. <br /> <br /> Teste: <br /> <br />City Clerk <br /> <br /> <br />