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289 WHEREAS, the City's Director of Finance solicited and received bids for the financing, and recommends accepting the bid proposal from Central Fidelity Bank; now, therefore, BE IT RESOLVED by the Council of the City of Charlottesville, Virginia, that: 1. The~lease-purchase financingagreement between Central Fidelity Bank and the City of Charlottesville, and the terms, conditions and provisions thereof are hereby approved, and the City Manager, or his express designee, is hereby authorized and directed to execute and deliver the lease-purchase agreement and related documents in form approved by the City Attorney. Such agreement shall be for a term not to exceed seven (7) years and to finance equipment in an aggregate principal amount not to exceed $422,500 at a "true"~ interest cost to the City not to exceed 7.75%. 2. A sum not to exceed $78,392o16 is hereby authorized to be expended from the Equipment Replacement funds appropriated for such lease purchase to allow annual payment of the City's obligations during the first year of such financing arrangement. 3. In the event that funds are not appropriated in any additional fiscal year during the term of the financing agreement, the agreement shall terminate on the last day of the fiscal period for which appropriations were received, and the leased property shall be surrendered to the financing institution. BE IT FURTHER RESOLVED, that the Council hereby amends the FY 1989-90 Capital Projects Fund by increasing the funds available for this transaction from $390,000 to $422,000 which increaSed amount, together with an additional $35,000 already appropriated, will be used to finance and purchase the subject fire truck for an aggregate purchase price of $457,500. APPROPRIATION: YEAR-END APPROPRIATIONS (2nd reading) The Year-End Appropriations which were offered at the June 4th meeting were approved by the following vote. Ayes: Mr. Buck, Rev. Edwards, Mr. Towe, Mr. Vandever, Ms. Waters. Noes: None. BE IT RESOLVED by the Council of the City of Charlottesville, Virginia, that the following amounts are hereby appropriated from the unappropriated balance of the General Fund to the respective accounts listed below: Amount Program ~cc0unt Code $115,000 $112,000 Charlottesville Downtown Foundation (Subject to the "match provision" of the existing agreement between the parties). Curbside Recycling Program 05-020-091024 05-185-052012 $ 90,000 Water Street Extension 26-181-051132 $317,000 BE IT FURTHER RESOLVED that the sum of $200,000 is hereby appropriated from the unappropriated balance of the Capital Improvements Fund to account code 26-170-121050 for the McIntire Road Access Road project. APPROPRIATION: $42,300 - COMMUNITY SERVICE OFFICER PROGRAM (2nd reading) The $42,300 appropriation for the Community Service Officer Program which was offered at the June 4th meeting was