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ORDINANCE NO. 2024-51 <br />AN ORDINANCE AMENDING THE FY 2024 CAPITAL IMPROVEMENT FUND <br />BUDGET BY: (1) INCREASING THE REVENUE SOURCE "GENERAL OBLIGATION <br />BONDS" IN THE AMOUNT OF $46,500,000; (2) INCREASING EXPENDITURES IN THE <br />CATEGORY "MUNICIPAL FACILITIES" BY THE SAME AMOUNT; AND (3) <br />APPROPRIATING $46,500,000 TO THE CITY JAIL (ELMHURST) PROJECT IN THE <br />MUNICIPAL FACILITIES CATEGORY OF SAID CAPITAL IMPROVEMENT FUND <br />BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />I. That it amends the FY 2024 Capital Improvement Fund Budget by increasing the <br />revenue source "General Obligation Bonds" in the amount of $46,500,000. <br />2. That it amends the FY 2024 Capital Improvement Fund Budget by increasing <br />expenditures in the "Municipal Facilities" category by $46,500,000. <br />3. That it appropriates $46,500,000 to the City Jail (Elmhurst) Project in the Municipal <br />Facilities Category of the FY 2024 Capital Improvement Fund Budget. <br />4. That estimated revenues and expenditures in the FY 2024 Capital Improvement <br />Fund Budget are increased by $46,500,000. <br />5. That this ordinance shall take effect on the date of adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on May <br />28, 2024. <br />Teste: <br />City Clerk <br />