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3. That the sums of $33,460,984 in the FY 2016 - 2017 Capital Improvement Fund, <br />$2,100,000 in the FY 2016 - 2017 Parking Authority Capital Improvement Fund and $1,000,000 <br />in the FY 2016 - 2017 Public Utilities Capital Improvement Fund, be, and the same hereby are, <br />appropriated for expenditure in the following categories and amounts to implement the FY 2017 <br />- 2021 Capital Improvement Program: <br />Capital Improvement Fund <br />Drainage and Street Improvements <br />Education <br />Industrial and Economic Development <br />Municipal Facilities <br />Fleet Management <br />Total Capital Improvement Fund <br />Total Parking Authority Capital Improvement Fund <br />Public Utilities Capital Improvement Fund: <br />Water <br />Sewer <br />Total Public Utilities Capital Improvement Fund <br />$ 17,016,213 <br />4,576,000 <br />350,000 <br />7,828,000 <br />3,690,771 <br />$ 33,460,984 <br />$ 2,100,000 <br />$ 500,000 <br />500,000 <br />$ 1,000,000 <br />4. 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, notes and other debt instruments to be <br />issued is not expected to exceed $ 16,374,941. <br />5. That the City Manager is hereby authorized and directed to do all things necessary <br />to implement the FY 2017 - 2021 Capital Improvement Program. <br />6. That this ordinance shall take effect on July 1, 2016. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />May 10, 2016. <br />Teste: <br />City Clerk <br />