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1996-04-15
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1996-04-15
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City Council
Meeting Date
4/15/1996
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Minutes
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74 <br /> <br /> There is hereby appropriated from the Equipment Replacement Fund other sums <br />received by such fund as payment from other City funds, for the lease, financing or purchase <br />of motor vehicles and related equipment and for accumulation of a reserve for future <br />equipment purchases during the fiscal year beginning July 1, 1996 and ending June 30, 1997. <br />Such appropriation shall be effective July 1, 1996; provided that such appropriations shall not <br />be deemed to expire at the end of such fiscal year, but shall continue in effect unless altered <br />by further action of City Council. Of the sums received by the Equipment Replacement <br />Fund, a sum sufficient to service the debt on any pieces of general governmental equipment <br />obtained under a master lease, credit line, or an installment purchase agreement shall be <br />transferred to the Debt Service Fund. <br /> <br />VII. FACILITIES REPAIR FUND APPROPRIATION <br /> <br />BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> The sum of $355,000 transferred to the Facilities Repair Fund under Part II of this <br />resolution, and such other sums as may be transferred to this fund from other funds during <br />the fiscal year beginning July 1, 1996 are appropriated for carrying out the purposes of this <br />fund during that fiscal year. However, such appropriation shall not be deemed to expire at <br />the end of the fiscal year, but shall continue in effect unless altered by further action of this <br />Council. <br /> <br />VIII 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 Finance <br />Act <br /> <br /> B. The sum of $3,959,128 transferred to such fund by Part II of this resolution, or as <br />much thereof as may be necessary, is hereby appropriated to pay such debt service expenses <br />during the fiscal year beginning July 1, 1996 and ending June 30, 1997. <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 />with the issuance of those obligations in future years. However, this reserve fund has been <br />voluntarily created by City Council and is not required by state statute or by the provisions of <br />any existing bond ordinance, covenant or indenture. Accordingly, appropriations thereto and <br />balances therein may be reduced by future action of this council. <br /> <br />IX. SPECIAL REVENUE FUND APPROPRIATIONS <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, that the following <br />appropriations are hereby approved for agency expenditures accounted for as separate funds <br />on the books of the City, for their respective programs during the fiscal year beginning July 1, <br />1996 and ending June 30, 1997; the City contribution to each such fund having hereinabove <br />been appropriated from the General Fund: <br /> <br /> A. There is hereby appropriated from the Charlottesville/Albemarle Convention and <br />Visitors Bureau Fund, for the operation of the Charlottesville/Albemarle Convention and <br />Visitors Bureau during such fiscal year, the sum of $255,369, or the amount of revenue <br />actually received by such fund, whichever shall be the lesser amount. <br /> <br /> B. There is hereby appropriated from the School Pupil Transportation Fund, for the <br />operation of public school pupil transportation during such fiscal year, the sum of <br />$1,243,163, or the amount of revenue actually received by such fund, whichever shall be the <br />lesser amount. From the last mentioned amount, the sum of $190,500 shall be allocated as <br /> <br /> <br />
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