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87 <br /> <br />PUBLIC HEARING: AUTHORIZING ISSUANCE OF $9.5 MILLION GENERAL <br />ORDINANCE: OBLIGATION BONDS <br /> <br /> Ms. Rita Scott, Director of Public Works, explained that the bonds will be used for two <br />projects: $4.5 million to continue the gas system replacement work, to be repaid by the gas <br />system and its customers, and $5 million for capital project needs, the majority of which will <br />go for school renovations (Greenbrier School renovation; completion of Burnley-Moran <br />School renovations; park renovation; ongoing street, sidewalk and bridge projects; and city <br />drainage improvements). The bonds wilt be repaid over 20 years. Ms Scott noted that the <br />total City debt will be $34.4 million, and noted that the City has a legal debt limit of $185 <br />million. <br /> <br /> The public hearing was opened, but as there were no speakers, the public hearing was <br />closed. <br /> <br /> On motion by Ms. Daugherty, seconded by Rev. Edwards, the "AN ORDINANCE <br />AUTHORIZING THE ISSUANCE OF NINE MILLION FIVE HUNDRED THOUSAND <br />DOLLARS ($9, 500,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC <br />IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, FOR <br />THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF VARIOUS PUBLIC <br />IMPROVEMENT PROJECT OF AND FOR THE CITY; FIXING THE FORM, <br />DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS; AND <br />PROVIDING FOR THE SALE OF SUCH BONDS" was offered and carded over to the <br />next meeting for consideration. <br /> <br /> Responding to a question from Ms. Slaughter, Ms. Scott said that Albemarle County <br />pays for their water lines through the Albemarle County Service Authority. <br /> <br /> Responding to a question from Mr. Toscano, Ms. Scott said that reducing the bond by <br />$500,000 would not have an appreciable affect on the bond payment. <br /> <br />PUBLIC HEARING: FAIR HOUSING PLAN <br /> <br /> Mr. Huja explained that as part of the CDBG and HOME funding, the City is required <br />to prepare a Fair Housing Plan and to hold a public heating prior to its preparation. Mr. Huja <br />said that a proposed Fair Housing Plan will be presented to Council in August. <br /> <br /> The public hearing was opened, but as there were no speakers, the public hearing was <br />closed. <br /> <br /> Responding to a question from Ms. Daugherty, Mr. Huja said that the plan will analyze <br />impediments to fair housing and will look at existing housing policies in the city. <br /> <br /> Ms. Daugherty expressed concern that the public is not aware what the Fair Housing <br />Plan is and requested that the Plan be described prior to the next public hearing on the issue. <br /> <br />Ms. Slaughter said she would be interested in knowing about current housing policies. <br /> <br />Mr. Toscano suggested that staff discuss fair housing issues with the Legal Aid Society. <br /> <br />STAFF REPORT: UTILITY RATES FOR 1996/97 <br /> <br /> Ms. Scott explained that the utility system is designed to be self-supporting over time, <br />and the cost of utilities is determined by service purchased, operations and maintenance, and <br />capital improvements. Ms. Scott said water rates are proposed to increase by 3.5 %, which <br />includes a major study for water line assessment and an educational effort on water <br />consumption reduction; sewer rates are proposed to increase by 18%, which includes <br />increased costs from Rivanna equipment purchase, and line replacement/reconstruction; and <br />gas rates are propose to increase 1%, which includes the first phase ora new feeder line from <br /> <br /> <br />