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<br />,~nOlNANCE NO <br />un~Q9~-15 <br /> <br />. <br /> <br />AN ORDINANCE INCREASING THE FY 2005-2006 OPERATING BUDGET BY <br />A TOT AL AMOUNT OF $1,250,000 AND APPROPRIATING THE SAME <br />AMOUNT IN THE FY 2005-2006 GENERAL, GOLF, PARKING AND PUBLIC <br />UTILITIES FUNDS TO PROVIDE CASH FUNDING FOR BOND ISSUANCE <br />COSTS FOR CAPITAL IMPROVEMENT PROJECTS AND DEBT <br />RESTRUCTURING. <br /> <br />BE IT ORDAINED by the Council ofthe City of Portsmouth, Virginia: <br /> <br />1. That a Public Hearing concerning increasing the FY 2005-2006 Operating <br />Budget by $1,250,000 was held on February 14,2006, as required by state law; and <br /> <br />2. That the funding source for the increase in the FY 2005-2006 Operating <br />Budget is the proceeds from the sale of City of Portsmouth General Obligation bonds in <br />October 2005; and. <br /> <br />3. That the sum of $1,250,000 is hereby appropriated in the FY 2005-2006 <br />Operating Budget as follows: <br /> <br />. <br /> <br />General Fund <br />Golf Fund <br />Parking Fund <br />Public Utilities Fund <br /> <br />$ 659,175 <br />72,525 <br />2,075 <br />516,225 <br /> <br />$1,250,000 <br /> <br />Total <br /> <br />4. That estimated revenue in the FY 2005-2006 General, Golf, Parking, and <br />Public Utilities Funds is increased by the above amounts totaling $1,250,000. <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 February 14,2006. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br />. <br /> <br />