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001" W 2019 .97 <br />AN ORDINANCE APPROPRIATING THE SUM OF $475,000 IN INTEREST <br />SAVINGS FROM THE DEBT SERVICE FUND BALANCE TO THE FY 2020 <br />DEBT SERVICE FUND AND TRANSFERRING SAID AMOUNT TO THE <br />RENTAL OF LAND, POLICE FACILITIES LINE ITEM OF THE FY 2020 <br />GENERAL FUND BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates the sum of 5475,000 from the Debt Service Fund <br />Balance to the FY 2020 Debt Service Fund. <br />2. That it transfers the said $475,000 from the FY 2020 Debt Service Fund to <br />the Rental of Land, Police Facilities line item of the FY 2020 General Fund Budget. <br />3. That the source of the Debt Service Fund Balance amount appropriated <br />and transferred is savings from lower interest expenses than anticipated. <br />4. That the Debt Service Fund Balance is reduced by $475,000. <br />5. That revenues and expenditures in the FY 2020 Debt Service Fund budget <br />are increased as shown in the below chart: <br />Debt Service Fund <br />Budget <br />Revenue Expenditure <br />Budgetary Fund <br />Balance $ 475,000 <br />Transfer to General <br />Fund $ 475,000 <br />6. That revenues and expenditures in the FY 2020 General Fund budget are <br />increased as shown in the below chart: <br />General Fund Budget <br />Revenue Expenditure <br />Transfer from Debt <br />Service Fund $ 475,000 <br />Rental of Land, <br />Police Facilities $ 475,000 <br />7. That the City Manager is authorized to execute and deliver such leases or <br />agreements as are necessary or advisable to cause the relocation of all police and <br />magistrate facilities currently located in the Civic Center Complex. <br />S. That this ordinance shall take effect on the date of its adoption. <br />