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<br />UKUb~t RD. 2006-57 <br /> <br />AN ORDINANCE TO AMEND THE CITY'S FY 2005-2006 GENERAL FUND <br />OPERATING BUDGET TO INCREASE THE ESTIMATED REVENUES AND <br />EXPENDITURES BY THE SUM OF $1,302,500 TO PROVIDE FOR <br />ADDITIONAL RISK MANAGEMENT CHARGES AND THE PAYMENT OF <br />LEGAL FEES. <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 127,2006 on a proposed <br />amendment to increase the City's FY 2005-2006 General Fund Operating Budget. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />I. That the FY 2005-2006 General Fund Operating Budget be amended by <br />appropriating an additional $1,302,500 therein to be used for additional expenditures for <br />risk management charges and various legal fees. <br /> <br />2. <br />settlement <br /> <br />That the source of said appropriation is proceeds from the nTelos legal <br /> <br />3. That estimated revenues in the FY 2005-2006 General Fund Operating <br />Budget are increased by $1,302,500. <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 />