Laserfiche WebLink
• VI. FACILITIES REPAIR FUND APPROPRIATION <br />BE IT RESOLVED by the Council of the City of Charlottes- <br />ville: <br />The sum of $400,894 transferred to the Facilities Repair <br />Fund under Part II of this resolution, and such other sums as <br />may be transferred to this fund from other funds during the <br />fiscal year beginning July 1, 1988 are appropriated for <br />carrying out the purposes of this fund during that fiscal <br />year. However, such appropriation shall not be deemed to <br />expire at the end of the fiscal year, but shall continue in <br />effect unless altered by further action of this Council. <br />VII. DEBT SERVICE FUND APPROPRIATION <br />BE IT RESOLVED by the Council of the City of <br />Charlottesville: <br />A. The Debt Service Fund shall serve as a permanent <br />reserve for the payment of principal and interest of bonds, <br />notes and other evidences of indebtedness and the cost of <br />issuance thereof issued by the City pursuant to its charter <br />and/or the Virginia Public Finance Act. <br />• <br />B. The sum of $1,992,124 transferred to such fund by <br />Part II of this resolution, or as much thereof as may be <br />necessary, is hereby appropriated to pay such debt service <br />expenses during the fiscal year beginning July 1, 1988 and <br />ending June 30, 1989. <br />C. Appropriations in the Debt Service Fund shall be <br />deemed continuing appropriations, and balances remaining in <br />such fund at the end of each fiscal year shall be carried <br />forward to pay principal and interest due on City obligations <br />and costs associated with the issuance of those obligations <br />in future years. However, this reserve fund has been <br />voluntarily created by City Council and is not required by <br />state statute or by the provisions of any existing bond <br />ordinance, covenant or indenture. Accordingly, <br />appropriations thereto and balances therein may be reduced by <br />future action of this council. <br />D. The sum of $220,000 is hereby transferred as a <br />contribution to the Charlottesville Redevelopment and Housing <br />Authority. <br />VIII. SPECIAL REVENUE FUND APPROPRIATIONS <br />• BE IT RESOLVED by the Council of the City of Charlottes- <br />ville, that the following appropriations are hereby approved <br />5 <br />