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NO,2019-11 <br />ORDINANM <br />AN ORDINANCE MODIFYING THE SOURCE OF FUNDING IN THE CAPITAL <br />IMPROVEMENT FUND BUDGET FOR THE CONSTRUCTION OF A NEW <br />WASTE MANAGEMENT BUILDING. <br />WHEREAS, in the FY 2018 Capital Improvement Fund Budget adopted by City <br />Council Ordinance 2017 -28 on May 9, 2017, a project was established for the construction <br />of a new waste management building; and <br />WHEREAS, the FY 2018 Capital Improvement Fund Budget included an <br />appropriation of $1,300,000 in bond proceeds for the project; and <br />WHEREAS, the source of funding for the said $1,300,000 is intended to be Waste <br />Management Fund fund balance transferred into the Capital Improvement Fund, and not <br />bond proceeds; <br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of <br />Portsmouth, Virginia: <br />1. That the source of funding for the $1,300,000 appropriated in the FY 2018 <br />Capital Improvement Fund budget for the construction of a new waste management <br />building is hereby amended from bond revenues to Waste Management Fund — Fund <br />Balance. <br />2. That $1,300,000 is hereby appropriated and transferred from the fund <br />balance of the Waste Management Fund to the Capital Improvement Fund for the said <br />purpose. <br />3. That the "Bond Proceeds" revenue source in the adopted FY 2018 Capital <br />Improvement Fund budget is reduced by $1,300,000. <br />4. That the "Operating Transfers In" revenue source in the adopted FY 2018 <br />Capital Improvement Fund budget is increased by $1,300,000. <br />5. That this ordinance shall take effect on the date of its adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on February 26, 2019. <br />Teste: <br />City Clerk <br />