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KililD11111,7A-i AN ORDINANCE APPROVING THE FY 2023 -2027 CAPITAL IMPROVEMENT PROGRAM AND APPROPRIATING $71,730,000 IN THE FY 2023 CAPITAL IMPROVEMENT FUND, SUBJECT TO RECEIPT OF THE MEANS OF FINANCING DESIGNATED HEREIN. WHEREAS, the City Manager has submitted to the City Council the Capital Improvement Program for FY 2023 through 2027 and the funding for Year One of the Capital Improvement Program, subject to receipt of the means of financing designated herein; and WHEREAS, a public hearing has been held to receive public comments on the five -year Capital Improvement Program and on funding for Year One of the Capital Improvement Program. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That the estimated means of financing for the Capital Improvement Program for the City of Portsmouth, Virginia, for the period beginning July 1, 2022 and ending June 30, 2023, is as follows: State Categorical Aid $69,500 Charges for Services 35,000 Operating Transfers In 17,420,500 General Obligation Bonds 24,455,000 Revenue Bonds 29,750,000 Total Capital Improvement Program $71,730,000 2. That the five -year FY 2023 -2027 Capital Improvement Program is hereby approved with fiscal years 2024 through 2027 being non- appropriated subsequent planning years. 3. That the sum of $71,730,000 in the FY 2023 Capital Improvement Fund be, and the same hereby is, appropriated for expenditure in the following categories and amounts to implement the FY 2023 Capital Improvement Program: Sewer Water Drainage and Street Improvements Education Leisure Services Industrial and Economic Development Municipal Facilities Parking Authority Fleet Management Capital Improvement Fund Total $23,450,000 10,300,000 7,360,000 18,700,000 1,050,000 250,000 8,520,000 100,000 2,000,000 $71,730,000