Minutes 04/23/1996 - Laserfiche WebLink

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April 23, 1996 Motion by Mr. RObin~tt, and seconded by Mr. Martin, to approve the operatingibudget subject to an ~unendment of item "g" for an appropriation for the Endependence Center in the a~ount of $6,000. Appropriation for PARC Place in the amount of $40,600 and to reduce the stormwater management rate from the $3.50 per ERU to $2.80 per ERU with existing maximums and an amendment for funding the school maintenance budget that for the fiscal ending 1996 any monies returned to the City from the School Board which shall be unexpended will be applied to the City's fund balance in accordance with state and federal statue, the City will then reappropriate these monies to the 1996-97 CIP fund specifically designated for the funding of maintenance projects as outlined previously to the Council by the School Board. Any sanounts in excess of the $1.2 million returned to the City will be appropriated based on the recommendation of the School Board and approved by the City Council during the 1997 fiscal year. If an amount returned to the City is less than the previously requested $1.2 million amount for'the maintenance budget as requested by the School Board, the City will match dollar for dollar maintenance improvements with the School administration up to a maximum of $600,000 for the fiscal year ending 1997, and was adopted by the following vote: Ayes: Griffin,! Hawks, Martin, Pitts, Robinett, Webb NayS: None 96-161 Letter from the City Manager recommending adoption of the following resolutions approving the five year Capital Improvement Plan for 1996-2001, and a one year Capital Improvement Program for 1996-97, and the issuance of General Obligation Bonds to provide the necessary funds for the various improvement projects. a. Adoption of a resolution adopting the 1996-2001 Capital Improvement Plan and the 1996-97 Capital Improvement Program. b. Adoption of a resolution authorizing the issuance of $4,100,000 of General Obligation Bonds of the City of Portsmouth, Virginia for the purpose of providing funds to pay the cost of various improvement projects. "On March 26, 1996, the City Council held a joint public hearing with the Planning Commission on the proposed 1996-2001 Capital Improvement Plan. Since that time, the Planning Commission has endorsed the proposal. In addition, the Municipal Finance Commission has recommended that the $8 million annual funding limitation from issuance of General Obligation Bonds be continued. I concur with that recommendation. On April 23, the Council will hold a public hearing on the issuance of General Obligation Bonds to fund the proposed Capital Improvement Plan. On that sa~e evening the Council will be requested to adopt a resolution authorizing the issuance of $4.1 million of those bonds, ($3.9 million having already been issued for I. C. Norcom High School) and a resolution approving the proposed CIP. I recommend the adoption of these two resolutions." Motion by Mr. Pitts, and seconded by Mr. Griffin, to adopt the Capital Improvement Program plan. Amended motion by Mr. Martin, and seconded by Mr. Robinett, to provide funding for lighting at the recreation field at Woodrow Wilson High School in the amount of $45,000, and was adopted by unanimous vote.