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APPROPRIATION <br />Corner Improvement Project <br />$1,100,000 <br />BE IT RESOLVED by the Council for the City of Charlottesville, <br />Virginia that the sum of $1,100,000 is hereby appropriated to <br />account 26-181-091151 in the Capital Projects Fund to fund <br />improvements in the University Corner area. Of the sum <br />appropriated, $350,00 is to be received from the amount designated <br />for this project in the FY 92-93 Capital Improvements budget, <br />$350,00 is to be received from the contingency budgeted in the FY <br />92-93 capital improvements budget, $400,000 is to be received as a <br />one-year loan from the General Fund balance. The loan from the <br />General Fund will be repaid, with interest, from the Capital Fund <br />on July 1, 1993. Interest on the loan shall accrue at the average <br />rate of interest earned by the City's General Fund investments <br />during the preceding year. <br />BE IT FURTHER RESOLVED that, of the total appropriation, <br />$438,414 shall be repaid to the Capital Fund from the proceeds from <br />the special tax district established for this project. <br />Approved by Council <br />• May 4, 1992 <br />CiftiA-ems <br />C erk of City Council <br />2-4-8 <br />