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r 2023 -45 <br />AN ORDINANCE ACCEPTING CLASS ACTION SETTLEMENT FUNDS IN THE <br />AMOUNT OF $22,414.03 FROM THE CITY OF LONG BEACH, ET AL. V. <br />MONSANTO COMPANY, ET AL. CLASS ACTION PCB LITIGATION AND: (1) <br />APPROPRIATING SAID AMOUNT IN THE FY 2023 STORMWATER FUND <br />BUDGET; AND (2) TRANSFERRING SAID AMOUNT TO THE VSMP PERMIT <br />COMPLIANCE PROJECT IN THE FY 2023 CAPITAL IMPROVEMENT FUND <br />BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it hereby accepts class action settlement funds in the amount of <br />$22,414.03 from the City of Long Beach, et al. v. Monsanto Company, et al. class action <br />PCB litigation and appropriates said amount in the FY 2023 Stormwater Fund Budget. <br />2. That it transfers the said funds from the FY 2023 Stormwater Fund Budget <br />to the VSMP Permit Compliance Project in the FY 2023 Capital Improvement Fund <br />Budget. <br />3. That the funds shall be used by the Engineering Department for stormwater <br />improvement and compliance projects. <br />4. That no local match is required as a condition of the funding. <br />5. That estimated revenues in the FY 2023 Storrnwater Fund Budget are <br />increased by $22,414.03. <br />6. That the Transfers to CIP expenditure line item in the FY 2023 Stormwater <br />Fund Budget is increased by $22,414.03. <br />7. That estimated revenues and expenditures in the VSMP Permit Compliance <br />Project in the FY 2023 Capital Improvement Fund Budget are increased by $22,414.03. <br />8. 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 May 23, 2023. <br />Teste: <br />City Clerk <br />