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70 <br /> <br /> On motion by Rev. EdWards, seconded by Mr. Vandever, the <br />Five Year Capital Improvement Program was unanimously <br />approved. <br /> <br /> WHEREAS, on December 13, 1988, the City Manager proposed <br />to t~he City Council and the City Planning Commission a <br />proposed 5-year program of capital improvements to be carried <br />out in the years 1990 through 1994, including projects with <br />an estimated cost of approximately $22 million dollars; and <br /> <br /> WHEREAS, the Planning .Commission, .following the receipt <br />of public comment at a duly advertised public hearing, <br />recommended the adoption of such plan with certain <br />modifications; now, therefore, <br /> <br /> BE IT RESOLVED by .the Council of.the City of <br />Charlottesville that: <br /> <br /> 1. The document entitled "City of Charlottesville <br />Capital Improvements Program 1990-1994," as proposed by the <br />City Manager on June 15, 1989 is.hereby .adopted as the <br />official program of capital improvements to be undertaken by <br />the city during the fiscal year beginning July 1,1989 and <br />the next succeeding four fiscal years. <br /> <br /> 2. The projects described in the capital program as <br />attached are hereby approved in concept, .and the CitY's <br />administrative staff is authorized and directed to,begin <br />preliminary studies and other work as they may deem <br />appropriate to prepare for the implementation of those <br />projects. However, no contract shall be entered into for the <br />construction of any project until~an appropriation has been <br />made by City Council for such work. Annually prior to the <br />beginning of each fiscal year in the 5-year capital. <br />improvements program, City Council shall adopt an <br />appropriation resolution for the projects to be initiated <br />during the ensuing fiscal year. Concurrently with the <br />adoption of each appropriation resolution, the Council shall <br />also make revisions to the adopted plan .necessitated by revised <br />estimates of project costs ~or ~capital project fund revenues. <br /> <br /> 3. The budgeted revenues shown on the attached caPital <br />program are hereby designated as capital project fund~ <br />revenues, and the Director of Finance is authorized~to make <br />such ~fund transfers annually as may~be necessary to carry out <br />the intent expressed~in such budget. <br /> <br /> 4. The Director of Finance and the City Attorney are <br />further authorized to begin the-preparation of one or more <br />ordinances necessary to authoriZe the issuance of general <br />obligation bonded indebtedness of up to $7 million dollars as <br />contemplated by the aforesaid budget, provided that up to <br />$500,000 dollars of such indebtedness may be incurred in the <br />form of loans from the Literary Fund of the Commonwealth of <br />Virginia in the event the Director of Finance determines that <br />the school improvement projects included in the capital <br />improvements program are eligible for such loans. The <br />Director of Finance is authorized to retain bond counsel and <br />such other'assistance as is customarily required in <br />connection with the issuance of such~bonded indebtedness. <br />The Director of Finance shall propose to the Council a <br />schedule for the issuance of such indebtedness consistent <br />with applicable federal tax regulations and as dictated by <br />market conditions. <br /> <br /> 5. The funding of any project in the 5-year capital <br />improvements program indicated as being funded in part by <br />contributions fr~om other governmental entities shall be <br />expressly conditioned upon the availability of such funding. <br /> <br />RESOLUTION: REQUESTINC THE VIRGINIA DEPARTMENT OF TRANSPORTATION <br />TO REPLACE THE JEFFERSON PARK AVENUE BRIDGE OVER RAILROAD TRACKS <br /> <br /> <br />