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<br />Public Utilities Capital Improvement Fund: <br /> <br />Sewer <br />Water <br /> <br />$ 11,157,100 <br />23,100,000 <br /> <br />$34.257.100 <br /> <br />Total Public Utilities Capital Improvement Fund <br /> <br />3. That it is the intent of the City to make certain expenditures in connection with <br />the planning, design, acquisition, construction and equipping of the projects herein approved <br />which the City reasonably expects to be reimbursed as permitted by Section 1.150-2 of the <br />regulations pursuant to the Internal Revenue Code of 1986, as amended, from the proceeds of <br />one or more issues of bonds issued to fund the projects. As of the date of this ordinance, the <br />maximum projected amount of general obligation bonds and notes to be issued is not expected to <br />exceed $25,000,000. <br /> <br />4. That the City Manager is hereby authorized and directed to do all things necessary <br />to implement the FY 2014-2018 Capital Improvement Program. <br /> <br />5. That this ordinance shall take effect on July 1,2013. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />May 14,2013. <br /> <br />Teste: <br /> <br />City Clerk <br />