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58 <br /> <br />IV. TRANSIT FUND APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, that there is <br />hereby appropriated from the Transit Fund, for the operation of the transit bus system <br />during the fiscal year beginning July 1, 2000 and ending June 30, 2001, the sum of <br />$2,397,097 or the amount of revenue actually received by such fund, whichever is the <br />greater amount. Such appropriation shall be effective July 1, 2000. <br /> <br />V. RISK MANAGEMENT APPROPRIATION <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, that all sums <br />previously appropriated to the Risk Management Fund, and all sums received by such <br />fund as payment from other City funds, are hereby appropriated for the uses prescribed <br />for such fund, pursuant to the terms of, and subject to the limitations imposed by Article <br />V of Chapter 11 of the Code of the City of Charlottesville, 1990, as amended. <br /> <br />VI. EQUIPMENT REPLACEMENT FUND APPROPRIATION <br /> <br />BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> There is hereby appropriated from the Eqm'pment Replacement Fund other sums <br />received by such fund as payment from other City funds, for the lease, financing or <br />purchase of motor vehicles and related equipment and for accumulation of a reserve for <br />future equipment purchases during the fiscal year beginning July 1, 2000 and ending June <br />30, 2001. Such appropriation shall be effective July 1, 2000; provided that such <br />appropriations shall not be deemed to expire at the end of such fiscal year, but shall <br />continue in effect unless altered by further action of City Council. Of the sums received <br />by the Equipment Replacement Fund, a sum sufficient to service the debt on any pieces <br />of general governmemal equipment obtained under a master lease, credit line, or an <br />installment purchase agreement shall be transferred to the Debt Service Fund. <br /> <br />VII. FACILITIES REPAIR FUND APPROPRIATION <br /> <br />BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> The sum of $300,000 transferred to the Facilities Repair Fund under Part II of this <br />resolution, and such sums as may be transferred to the Facilities Repair Fund from other <br />funds during the fiscal year beginning July 1, 2000 are approp 'rmted for camying out the <br />purposes of this fund during that fiscal year. However, such appropriation shall not be <br />deemed to expire at the end of the fiscal year, but shall continue in effect unless altered <br />by further action of this Council. <br /> <br />VIII. DEBT SERVICE FUND APPROPRIATION <br /> <br />BE IT RESOLVED by the Council of the City of Charlottesville: <br /> <br /> A. The Debt Service Fund shall serve as a permanent reserve for the payment of <br />principal and interest of bonds, notes and other evidences of indebtedness and the cost of <br />issuance thereof issued by the City pursuant to its charter and/or the Virginia Public <br />Finance Act. <br /> <br /> B. The sum of $4,363,224 transferred to such fund by Part II ofthis resolution, or <br />as much thereof as may be necessary, is hereby appropriated to pay such debt service <br />expenses during the fiscal year beginning July 1, 2000 and ending June 30, 2001. <br /> <br /> C. Appropriations in the Debt Service Fund shall be deemed continuing <br />appropriations, and balances remaining in such fund at the end of each fiscal year shaIl be <br />carried forward to pay principal and interest due on City obligations and costs associated <br />with the issuance of those obligations in future years. However, this reserve fund has <br />been voluntarily created by City Council and is not required by state statute or by the <br />provisions of any existing bond ordinance, covenant or indenture. Accordingly, <br /> <br /> <br />