Legislation # 13-0297 Enactment Number none
Type Resolution Effective Date none
Introduction Date 8/14/2013
Title Resolution authorizing an advance of $5,500,000 from the City’s General Fund Unassigned Fund Balance to fund: $3,0000,000 for the Langley Air Force Base Clear Zone Project; $2,000,000 for Parks and Recreation Maintenance Projects; and $500,000 for the Breakwater at Buckroe Beach Project to be returned to that fund from General Obligation Bond proceeds when issued.
 
Legislation History 13-0297
DateNotice Of ActionDescription
8/14/2013 Approved on consent agenda.
8/2/2013 Received By Clerk's Office
 
View Attachments 13-0297
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Legislation Text 13-0297

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 13-0297

 

Enactment Number: -

 

Resolution authorizing an advance of $5,500,000 from the Citys General Fund Unassigned Fund Balance to fund: $3,0000,000 for the Langley Air Force Base Clear Zone Project; $2,000,000 for Parks and Recreation Maintenance Projects; and $500,000 for the Breakwater at Buckroe Beach Project to be returned to that fund from General Obligation Bond proceeds when issued.

 

RESOLUTION

WHEREAS, the Hampton City Council appropriated, via the fiscal year 2014 Capital Budget, funds for the Langley Air Force Base Clear Zone Project, Parks and Recreation Maintenance Projects; and the Breakwater at Buckroe Beach Project, which are to be funded from the proceeds of a City General Obligation Bond Issue planned for fiscal year 2015; and

 

WHEREAS, Council acknowledges that proceeds from a 2015 bond issue will not be available to permit the City to procure and perform necessary work in a timely manner to meet deadlines and begin preliminary work; and

 

WHEREAS, the City Manager recommends an advance appropriation of $5,500,000 from the General Fund Unassigned Fund Balance to the Capital Projects Fund for the Langley Air Force Base Clear Zone Project, Parks and Recreation Maintenance Project and Breakwater at Buckroe Beach Project to provide funding on a temporary basis until the 2015 General Obligation Bonds are issued, at which time the advanced funds will be returned to the General Fund Unassigned Fund Balance.

 

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA: that the sum of $5,500,000 (Five Million, Five Hundred Thousand Dollars and Zero Cents) is hereby appropriated from the General Fund Unassigned Fund Balance to fund: $3,000,000 (Three Million Dollars and Zero Cents) for the Langley Air Force Base Clear Zone Project; $2,000,000 (Two Million Dollars and Zero Cents) for the Parks and Recreation Maintenance Project; and $500,000 (Five Hundred Thousand Dollars and Zero Cents) for the Breakwater at Buckroe Beach Project, and that this amount is to be returned to the General Fund Unassigned Fund Balance as soon as practicable from the proceeds of the anticipated fiscal year 2015 General Obligation Bond Issue.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on August 14, 2013.

 

 

 

Signed by ____________________________ Date _________________

Molly Joseph Ward, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass, CMC

Clerk of the Council