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8 <br />$6,159,617 or the amount of revenue actually received by such fund, whichever is the <br />greater amount. Such appropriation shall be effective July 1, 2008. <br /> <br /> BE IT FURTHER RESOLVED by the Council of the City of Charlottesville, that <br />there is hereby appropriated from the Transit Fund, for the replacement of transit buses <br />during the fiscal year beginning July 1, 2008 and ending June 30, 2009, the sum of <br />$389,977 or the amount of revenue actually received for such purpose. However, such <br />appropriation shall not be deemed to expire at the end of the fiscal year, but shall <br />continue in effect unless altered by further action of this Council. Such appropriation <br />shall be effective July 1, 2008. <br /> <br /> VI. RISK MANAGEMENT APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, that all sums <br />previously appropriated to the Risk Management Fund, and all sums received by such <br />fund as payment from other City funds, are hereby appropriated for the uses prescribed <br />for such fund, pursuant to the terms of, and subject to the limitations imposed by Article <br />V of Chapter 11 of the Code of the City of Charlottesville, 1990, as amended. <br /> <br /> VII. EQUIPMENT REPLACEMENT FUND APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> There is hereby appropriated from the Equipment Replacement Fund other sums <br />received by such fund as payment from the General Fund, for the lease, financing or <br />purchase of motor vehicles and related equipment and for accumulation of a reserve for <br />future equipment purchases during the fiscal year beginning July 1, 2008 and ending June <br />30, 2009. Such appropriation shall be effective July 1, 2008; provided that such <br />appropriations shall not be deemed to expire at the end of such fiscal year, but shall <br />continue in effect unless altered by further action of City Council. Of the sums received <br />by the Equipment Replacement Fund, a sum sufficient to service the debt on any pieces <br />of general governmental equipment obtained under a master lease, credit line, or an <br />installment purchase agreement shall be transferred to the Debt Service Fund. <br /> <br /> VIII. FACILITIES REPAIR FUND APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> The sum of $550,000 transferred to the Facilities Repair Fund from the General <br />Fund, and such sums as may be transferred to the Facilities Repair Fund from other funds <br />during the fiscal year beginning July 1, 2008 are appropriated for carrying out the <br />purposes of this fund during that fiscal year. However, such appropriation shall not be <br />deemed to expire at the end of the fiscal year, but shall continue in effect unless altered <br />by further action of this Council. <br /> <br /> IX. DEBT SERVICE FUND APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> A. The Debt Service Fund shall serve as a permanent reserve for the payment of <br />principal and interest of bonds, notes and other evidences of indebtedness and the cost of <br />issuance thereof issued by the City pursuant to its charter and/or the Virginia Public <br />Finance Act. <br /> <br /> B. The sum of $6,150,000 transferred to such fund by Part II of this resolution, as <br />well as the designated Meals Tax transfer (estimated at $1,756,250), or as much thereof <br />as may be necessary, is hereby appropriated to pay such debt service expenses during the <br />fiscal year beginning July 1, 2008 and ending June 30, 2009. <br /> <br /> C. Appropriations in the Debt Service Fund shall be deemed continuing <br />appropriations, and balances remaining in such fund at the end of each fiscal year shall be <br />carried forward to pay principal and interest due on City obligations and costs associated <br /> <br />