Legislation # 14-0406 Enactment Number none
Type Resolution Effective Date none
Introduction Date 10/8/2014
Title Resolution Authorizing an Advance of $1,260,000 from the City's General Fund Unassigned Fund Balance to Match State Grand Funds Funding the LAFB Clear Zone Project.
 
Legislation History 14-0406
DateNotice Of ActionDescription
1/28/2015 Approved items 1 through 12 on the consent agenda
9/30/2014 Received By Clerk's Office
 
View Attachments 14-0406
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Legislation Text 14-0406

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 14-0406

 

Enactment Number: -

 

Resolution Authorizing an Advance of $1,260,000 from the City's General Fund Unassigned Fund Balance to Match State Grand Funds Funding the LAFB Clear Zone Project.

 

RESOLUTION

Whereas, the Hampton City Council appropriated via the FY2015 Capital Budget funds for the Langley Air Force Base Clear Zone Project which is to be funded from the proceeds of a City General Obligation Bond Issue in FY 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, begin preliminary work and to work during the most opportune time; and

 

Whereas, the City Manager recommends an advance appropriation of $1,260,000 from the General Fund Unassigned Fund Balance to the Capital Projects Fund for the Langley Air Force Base Clear Zone 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 City Council of Hampton, Virginia, that the sum of $1,260,000 is hereby appropriated from the General Fund Unassigned Fund Balance to the Langley Air Force Base Clear Zone Project and that this amount be returned to the General Fund Unassigned Fund Balance as soon as practicable from the proceeds of the anticipated FY 2015 General Obligation Bond Issue.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on October 8, 2014.

 

 

 

Signed by ____________________________ Date _________________

George E. Wallace, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass, CMC

Clerk of the Council