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ENDORSEMENT RESOLUTION • WHEREAS, Virginia's continued economic growth and development is dependent upon the Commonwealth's ability to provide for the needs of its citizens both now and into the 21st century; WHEREAS, Virginia voters will have the opportunity to approve three bond referenda on November 3 that will provide funds to construct and renovate the facilities necessary to serve the state's growing population; WHEREAS, there have been no state -supported capital improvement programs for higher education since 1986, yet during that period enrollment in our colleges and universities has grown by 40,000 and by the year 2000 another 65,000 students will seek enrollment in Virginia's colleges and universities; WHEREAS, $472.4 million is earmarked for the capital needs of higher education, providing badly needed classroom, laboratory and other teaching space, correction of life -safety code deficiencies, repairs to libraries, additions to computer centers, and other needs; WHEREAS, providing for the needs of those citizens of the Commonwealth with mental disabilities is a responsibility of all Virginians; WHEREAS, $45.2 million is appropriated for the construction and renovation of seven • high-priority projects for current and projected patient needs, particularly for children and elderly Virginians, enabling Virginia to meet the legal mandates for patients in secure facilities and ensuring that state facilities will continue to receive Medicaid and Medicare reimbursements, reducing demands on the state budget; WHEREAS, tourism is Virginia's second-largest industry and its park system is a vital component of that industry, helping to pump $80 million annually into the state's economy; WHEREAS, $95.4 million is allocated to upgrade existing park facilities and purchase new land, enhancing Virginia's tourist potential and increasing the flow of out-of-state revenue to Virginia; WHEREAS, taxes will not have to be raised to pay for these bonds; WHEREAS, passage of these three referenda will create 3,600 new jobs and generate $22 million in new revenue; WHEREAS, passage of these three referenda will not jeopardize Virginia's AAA bond rating; NOW, THEREFORE, BE IT RESOLVED, that the City of Charlottesville endorses the passage of all three referenda on the November 3, 1992, ballot, authorizing the issuance of • general obligation bonds of the Commonwealth of Virginia. BE IT FURTHER RESOLVED that the City of Charlottesville encourages the voters of Virginia to vote "YES" on each Question of whether the referendum should take effect. Approved by Council October 5, 1992 Oyrk of City Counci