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$7,949,755, or the amount of revenue actually received by such fund, whichever is the greater amount. Such appropriation shall be effective July 1, 2007. XV. UTLITIES FUNDS DEBT SERVICE APPROPRIATION BE IT RESOLVED by the Council of the City of Charlottesville, that there is hereby appropriated from the Utilities Funds (Gas, Water and Wastewater) for the payment of principal and interest of bonds, notes and other evidences of indebtedness and the cost of issuance thereof issued by the City pursuant to its charter and/or the Virginia Public Finance Act., during the fiscal year beginning July 1, 2007 and ending June 30, 2008, the following sums in each fund or the amount of revenue actually received by such fund, whichever is the greater amount. Such appropriation shall be effective July 1, 2007. However, such appropriation shall not be deemed to expire at the end of the fiscal year, but shall continue in effect unless altered by further action of this Council. A. There is hereby appropriated from the Gas Debt Service Fund, the sum of $940,000 as revenue (transfer from Gas Fund) and $1,193,886 in principal and interest payments. B. There is hereby appropriated from the Wastewater Debt Service Fund the sum of $430,000 in revenue (transfer from the Wastewater Fund) and $517,490 in principal and interest payments. C. There is hereby appropriated from the Water Debt Service Fund the sum of $875,000 in revenue (transfer from the Water Fund) and $647,541 in principle and interest payments. XVI. PAY PLAN APPROVAL BE IT RESOLVED by the Council of the City of Charlottesville that the Employee Classification and Pay Plan for the City of Charlottesville dated July 1, 2007 and effective on that same date, which assigns salary ranges to each class or position in the City service is hereby approved pursuant to Section 19-3 and 19-4 of the City Code, 1990, as amended and a copy of the same shall be kept on file with the records of the meeting at which this resolution is approved. XVII. PAY ADJUSTMENT FOR RETIREES BE IT RESOLVED by the Council of the City of Charlottesville, that the Retirement Plan Commission is authorized and directed to provide for the payment from the Retirement Fund of a post-retirement supplement of 2% of the current retirement pay of each presently retired employee effective July 1, 2007. XVIII. GOLF FUND BE IT RESOLVED by the Council of the City of Charlottesville, that there is hereby appropriated from the Golf Fund, for the operation of the golf courses during the fiscal year beginning July 1, 2007 and ending June 30, 2008, the sum of $1,383,990, or the amount of revenue actually received by such fund, whichever is the greater amount. Such appropriation shall be effective July 1, 2007. The meeting was adjourned. _____________________________ _____________________________ President Clerk