Minutes 11/25/1986 - Laserfiche WebLink

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!!7 November 25, 1986 "AN ORDINANCE TO APPROPRIATE $100,000 FROM THE CAPITAL IMPROVEMENT FUND FOR THE CIVIC ARTS PROGRAM." 86-432 Letter from the City Manager recommending adoption of ~n ordinance to apprcpriate $47,300 from the Capital Improvement Fund for the cost of the automatic flashing at the intersection of Coast Guard Boulevard and West Norfolk Road installed by the Norfolk & Southern Railroad. "In 1984, with the reconstruction and realignment of West Norfolk Road, two railroad crossings of West Norfolk Ro~d were eliminated ~nd a new crossing was constructed at Coast Guard Boule- vard. The agreement with the Norfolk Southern Railroad Company i(formerly Norfolk and Western) was for the Railroad Company to con- struct the new crossing at no cost to the City, but that the City would be responsible for the signalization of the crossing at a cos~ of $47,300. The railroad signalization was recently completed, and, there- fore, I recommend the appropriation of the $47,300 to reimburse the Norfolk Southern Railroad for the installation." On motion of Mrs. Webb and ordinance was approved on first Fore: seconded by Mr. Gray, the following reading, and was adopted by unanimous "AN ORDINANCE TO APPROPRIATE $47,500 FROM THE CAPITAL IMPROVEMENT FUND FOR INSTALLATION OF SIGNALIZATION AT THE INTERSECTION OF COAST GUARD BOULEVARDZWEST NORFOLK ROAD AND THE NORFOLK AND SOUTHERN RAILROAD TRACK.' 86-433 Letter from the City Manager recommending adcption of a resolution authorizing the issuance of $1,665,000 in General Obligation Bonds for the purpose of funding the apprcpriati0n for tl City's share of the Western Freeway. "The agreement with the Virginia State Department of Highways and Transportation for the construction of the first phase of the Western Freeway provides for an approximate 5% contribution by the City. This amount, based on figures from the State Highway Depart- ment's estimated costs, will be approximately $1,665,000. Total of Phase I is $33,181,000. However, it includes right-of-way acqui sition and preliminary engineering for the entire project in the City of Portsmouth. Future phases are not anti:ipated to be this costly. The attached ordinance will appropriate this amount thereb. ~ermitting the payment to the Highway Department when necessary. While the 1986-91 Capital Improvement Program contains $2,000, or our share of the Western Freeway, no authorization was anticipat until next year. With the execution of the agreement with the High- way Department not only does the appropriation need to be encumbered but the funding source needs to be identified. To accomplish this, have also placed on your agenda a resolution authorizing the issu- of $1,665,000 in general obligation bonds. This resolution will fully fund the appropriation needed for the agreement with the state. I do not anticipate making payments to the Highway Department in the near future; however, the Council's approval of the ordinance resolution will place in effect all the necessary financial ste to make these payments when they become due. I therefore recommend approval of the appropriations ordinance and bond:resolu- tion." On motion of Mr. Gray and seconded by Mrs. Lucas, the resolution was adopted, and by the following vote: fo l lowinJ!