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<br />OROb'Wa ~O_2006-56 <br /> <br />AN ORDINANCE TO AMEND THE CITY'S FY 2005-2006 RISK <br />MANAGEMENT FUND OPERATING BUDGET TO INCREASE THE <br />ESTIMATED REVENUES AND EXPENDITURES BY THE SUM OF $1,200,000 <br />TO PROVIDE FOR GENERAL LIABILITY CLAIMS. <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 Risk Management 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 Risk Management Fund Operating Budget be <br />amended by appropriating an additional $1,200,000 therein to be used for additional <br />expenditures related general liability claims. <br /> <br />2. That the sources of said appropriation are proceeds from internal service <br />charge-out revenue from the General Fund. <br /> <br />3. That estimated revenues in the FY 2005-2006 Risk Management Fund <br />Operating Budget are increased by $1,200,000. <br /> <br />4. 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 27, 2006. <br /> <br />Teste: <br /> <br />City Clerk <br />