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Improvements Program and the Program has been recommended by <br />the Planning Commission. <br /> <br /> On motion by Mr. Barnes, seconded by Dr. Hall, the <br />resolution adopting the Capital Improvements Program was <br />unanimously approved by Council. <br /> <br /> WHEREAS, on November 11, 1987 the City Manager proposed <br />to the City Council and the City Planning Commission a <br />proposed multi-year program of capital improvements to be <br />carried out in the years 1988 through 1994, including <br />projects with an estimated cost of approximately $27 million <br />dollars; and <br /> <br /> WHEREAS, the Planning Commission, following the receipt <br />of public comment at a duly advertised public hearing, <br />recommended the adoption of such plan with certain <br />modifications; and <br /> <br /> WHEREAS, the proposed capital improvements program was <br />the subject of an additional duly advertised public hearing <br />before City Council on May 11, 1988; now, therefore, <br /> <br /> BE IT RESOLVED by the Council of the City of <br />Charlottesville, Virginia, that: <br /> <br /> 1. The document entitled "City of Charlottesville <br />Capital Improvements Program 1988-1994," proposed by the City <br />Manager on November 11, 1987, is hereby adopted as the <br />official program of capital improvements to be undertaken by <br />the City during the fiscal year beginning JulY 1, 1988 and <br />the next succeeding five fiscal years. <br /> <br /> 2. The projects described on pages 10 through 24 of the <br />aforesaid document are hereby approved in concept, and the <br />City's administrative staff is authorized and directed to <br />begin such preliminary studies and other work as they may <br />deem appropriate to prepare for the implementation of those <br />projects. However, no contract shall be entered into for the <br />construction of any such project until an appropriation has <br />been made by City Council for such work. Annually prior to <br />the beginning of each fiscal year in the multi-year capital <br />improvements program~ City Council shall adopt an <br />appropriation resolution for the projects to be initiated <br />during the ensuing fiscal year. Concurrently with the <br />adoption of each such appropriation resolution, the Council <br />shall also make such revisions to the adopted plan as may be <br />necessitated by revised estimates of project costs or capital <br />projects fund revenues. <br /> <br /> 3. The budgeted revenues shown on page 25 of the <br />aforesaid document are hereby designated as capital projects <br />fund revenues, and the Director of Finance is authorized to <br />make such fund transfers annually as may be necessary to <br />carry out the intent expressed in such budget. <br /> <br /> 4. The Director of Finance, along with the City <br />Attorney, is authorized to retain bond counsel and such other <br />assistance as is customarily needed in connection with the <br />issuance of the bonded indebtedness required by the aforesaid <br />multi-year capital improvements program. The Director of <br />Finance shall proposed to the Council a schedule for the <br />issuance of such indebtedness consistent with applicable <br />federal tax regulations and as dictated by market conditions, <br />provided that no more than $5 million dollars of the <br />authorized total of bonded indebtedness shall be issued in <br />any one calendar year. <br /> <br /> 5. The funding of any project in the multi-year capital <br />improvements program indicated as being funded in part by <br />contributions from other governmental entities shall be <br />expressly conditioned upon the' availability of such funding. <br /> <br />141 <br /> <br /> <br />