Laserfiche WebLink
<br />dRDINANCE 11-2006-54 <br /> <br />AN ORDINANCE TO AMEND THE CITY'S FY 2005-2006 CAPITAL <br />IMPROVEMENTS FUND BUDGET WITHIN THE CAPITAL IMPROVEMENT <br />PROGRAM TO INCREASE ESTIMATED REVENUES AND EXPENDITURES <br />BY $3,896,406 TO PROVIDE $3,500,000 FOR ENVIRONMENTAL <br />ABATEMENT/CLEAN-UP AND RELOCATION/BUILD-OUT OF THE <br />EXISTING COURTS COMPLEX AND $396,406 FOR A CAPITAL <br />CONTRIBUTION TO FIRST COLLEGE. <br /> <br />WHEREAS, pursuant to Section 15.2-2507 of the Code of Virginia (1950), as <br />amended, a public hearing was duly advertised and held on June 27, 2006 on a proposed <br />amendment to increase the City's FY 2005-2006 Capital Improvements Fund Operating <br />Budget. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />I. That the FY 2005-2006 Capital Improvements Fund Operating Budget be <br />amended by appropriating an additional $3,896,406 therein to be used for additional <br />expenditures totaling $3,500,000 for the existing Courts Complex environmental <br />abatement/clean-up and relocation/buildout (municipal facility) capital project and <br />$396,000 for the First College (educational) capital project. <br /> <br />2. That the sources of said appropriation are proceeds from General <br />Obligation notes totaling $2,500,000 and $1,396,406 in Capital Improvement Program <br />transfers from the FY 2005-2006 General Fund. <br /> <br />3. That estimated revenues in the FY 2005-2006 Capital Improvements Fund <br />Operating Budget are increased by $3,896,406. <br /> <br />4. That this ordinance shall take effect on the date of its adoption. <br /> <br />ADOPTED by the Council ofthe City of Portsmouth, Virginia at a meeting held <br />on June 27, 2006. <br /> <br />Teste: <br /> <br />City Clerk <br />