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APPROPRIATION:
<br />SEMINOLE SQUARE
<br />
<br />RESOLUTION:
<br />AUTHORIZING INDUS-
<br />TRIAL DEVELOPMENT
<br />AUTHORITY TO HOLD
<br />PUBLIC HEARINGS
<br />
<br />185'
<br />
<br />to the School Construction Fund and likewise to transfer
<br />any expenditure charges heretofore made against it to the
<br />appropriate expenditure accounts hereinafter set forth.
<br />
<br />$4,593,957.00 to be received by the City on or about June 12,
<br />1983 from the sale of capital assets to the Rivanna Water
<br />and Sewer Authority.
<br />
<br />$2,000.00.00 to be~r.eceived by the City as a loan from the
<br />Virginia Literary Fund~
<br />
<br />A sum estimated at $450,000.00 to be earned from investment
<br />of the foregoing revenues during construction of the projects
<br />to be constructed hereunder.
<br />
<br />C. APPROPRIATION FOR EXPENDITURES
<br />
<br /> The following sums are hereby appropriated from the designated
<br />revenues of the School Construction Fund, to ihe expenditure accounts
<br />hereinafter set forth:
<br />
<br />$1,500,000.00 to account 23-30010 for the outdoor athletic
<br />facilities and related parking.
<br />
<br />$4,168.00 to account 23-10010 and 23-20010 for the auditorium
<br />and auxiliary gymnasium.
<br />
<br />$418,000..00 to account 23-40010 for the roof repairs to
<br />Charlottesville High School.
<br />
<br />$550,000.00 to account 23-80'010 for interest on the bond
<br />anticipation notes.
<br />
<br />$3,000,000.00 to account 23-80010 for retirement of the bond
<br />anticipation notes.
<br />
<br />D. SUMMARY OF ANTICIPATED REVENUES AND EXPENDITURES
<br />
<br />ReVenues
<br />
<br />Expenditures
<br />
<br />Bond Anticipation Notes ~ 3,000,000
<br />Sale of Assets to RWSA 4,593,957
<br />Literary Fund Loan 2,000,000
<br />Interest Income 450,000
<br />
<br />Outdoor Athletic Facilities
<br />Auditorium & Gym
<br />Roof Repairs
<br />Interest Expense
<br />Retirement of Bonds
<br />
<br />$1,500,000
<br />4,168,000
<br />418,000
<br />550,000
<br />3,000,000
<br />
<br />Total $10,043,957 Total
<br />
<br />$9,636,000
<br />
<br />On motion by Dr. Hall, seconded by Dr. Gunter, the following appropriation
<br />
<br />was offered and carried over to the next meeting for consideration:
<br />
<br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia,
<br />that the following sums are hereby appropriated and authorized to be
<br />expended for the City's required share of public improvements in the Seminole
<br />Square subdivision, as set forth in the City subdivision ordinance:
<br />
<br />(a)
<br />
<br />Street Paving· The sum of $384,376.68 is hereby appropriated
<br />from the unappropriated balance of the Capital Projects Fund to
<br />expenditure account 05-01230 for asphalt paving of the streets in
<br />Seminole Square. This appropriation shall be offset by revenues
<br />to the Capital Projects Fund of $118,865.07 to be received from
<br />a Virginia Department of Highways and Transportation Industrial
<br />Access Grant for Project #999-104-206, C 501, and $212,058.16 to
<br />be received pursuant to a contract with the developers of Seminole
<br />Square, making the City's net share of such paving ~53,452.45. The
<br />City Manager is authorized to expend a larger amount in the event
<br />changes in the subdivision plat are approved by the Planning
<br />Commission resulting in an increase ~n the area to be paved, or in
<br />the event the developers pay a larger amount pursuant to their
<br />contract.
<br />
<br />(b)
<br />
<br />Street Lighting. The sum of $30,000.00 is hereby appropriated
<br />from the unappropriated balance of the Capital Projects Fund
<br />to expendi%ure ancount 05~10£40 ~or the installati0n~o£ street
<br />lighting in the subdivision.
<br />
<br />(c)
<br />
<br />Water Lines. The sum of $59,735.00 previously appropriated to
<br />expenditure account 02-10011 in the Water Fund for line extensions
<br />and replacements, is authorized to be expended as the City's
<br />fifty percent share of the cost of water mains to be installed in
<br />the subdivision.
<br />
<br />(d)
<br />
<br />Sewer Lines. The sum of ~21,735.00, previously appropriated to
<br />expenditure account 03-30090 in the Wastewater Fund for line
<br />extensions and replacements, is hereby authorized to be expended
<br />as the City's fifty percent share of the cost of sewer mains to
<br />be installed in the subdivision.
<br />
<br />On motion by Mrs. Gleason, seconded by Dr. Hall, the following resolution
<br />
<br />was unanimously adopted by Council:
<br />
<br />
<br />
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