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• RESOLUTION <br />WHEREAS, the Council has adopted two successive resolutions <br />of even date herewith which approve two separate applications for <br />loans of $175,000 each from the State Literary Loan Fund; and <br />WHEREAS, the Council recognizes that the School Board may <br />receive only a portion or all of the loans sought; and <br />WHEREAS, both loans, if obtained in full, will aggregate <br />$350,000; and <br />WHEREAS, this Council in its capital improvements budget has <br />appropriated the sum of $300,000 for the projects to be funded by <br />these loans; and <br />WHEREAS, the foregoing differential between loans sought and <br />money appropriated creates a potential budgeting shortfall; now, <br />therefore <br />BE IT RESOLVED that the Council of the City of <br />Charlottesville, Virginia requests that the School Board be aware <br />of this potential problem and refrain from accepting more loans <br />• from the Literary Loan Fund than the $300,000 which is budgeted <br />without first returning to Council and obtaining formal approval <br />for such acceptance. <br />Approved by Council <br />June 14, 1989 <br />erk of Council <br />U <br />