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<br />OR'DIYA", ,11ft 2010-50 <br />IV\nIaI. w.J. .. Af An~~~- <br /> <br />AN ORDINANCE APPROPRIATING $850,000 IN THE FY 2009-2010 GENERAL <br />FUND IN FUNDS RECEIVED IN A SETTLEMENT WITH THE <br />SOUTHEASTERN PUBLIC SERVICE AUTHORITY FOR UNP AID PAYMENTS <br />IN LIEU OF TAXES. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />1. That it hereby appropriates the sum of $850,000 in the FY 2009-2010 <br />General Fund. <br /> <br />2. That the source of said funds is a settlement paid to the City of Portsmouth <br />by the Southeastern Public Service Authority for all past and possible future Payments In <br />Lieu Of Taxes (PILOT) owed on the Authority's tax exempt property in the City. <br /> <br />3. That estimated revenues in the FY 2009-2010 General Fund are increased <br />by $850,000. <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 8,2010. <br /> <br />Teste: <br /> <br />City Clerk <br />