Subject: 9618/Appropriation/JIT Terminal TIIP/PEP Project
Date: Fri, 23 Aug 1991 09:02:00 -0500


                                ORDINANCE NO. 9618
                  
                  
                   AN ORDINANCE TO AMEND ORDINANCE NO. 9585,
                   THE BUDGET ORDINANCE, ENCAPTIONED AS
                   HEREINBELOW SET FORTH, SO AS TO APPROPRIATE
                   FUNDS IN THE AMOUNT OF TWENTY-FOUR THOUSAND
                   FIVE HUNDRED EIGHTY-TWO AND NO/100 DOLLARS
                   ($24,582.00) FROM THE CONTINGENCY FUND TO BE
                   PAID AS A MATCHING FUND FOR A TENNESSEE
                   INDUSTRIAL INFRASTRUCTURE PROGRAM (TIIP)
                   GRANT TO ASSIST JIT TERMINAL, INC. IN THE
                   FINANCING OF A THREE TRACK RAIL SPUR, MORE
                   FULLY DESCRIBED HEREINBELOW, OR, IN THE
                   ALTERNATIVE, TO BE USED, TOGETHER WITH FUNDS
                   PROVIDED BY THE COUNTY OF HAMILTON, FOR A
                   PUBLIC WORKS PROJECT FOR THE CONSTRUCTION OF
                   SAME.
                  
                  
                                                    
                  
                  
       	    	 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
       CHATTANOOGA, TENNESSEE:
       	    	 SECTION 1.  BE IT ORDAINED BY THE CITY COUNCIL OF THE
       CITY OF CHATTANOOGA, TENNESSEE, That Ordinance No. 9585, the
       Budget Ordinance, encaptioned, "AN ORDINANCE TO PROVIDE REVENUE
       FOR THE FISCAL YEAR BEGINNING JULY 1, 1991, AND ENDING JUNE 30,
       1992, AND APPROPRIATING SAME TO THE PAYMENT OF EXPENSES OF THE
       MUNICIPAL GOVERNMENT; FIXING THE RATE OF TAXATION ON ALL TAXABLE
       PROPERTY IN THE CITY, AND THE TIME TAXES AND PRIVILEGES ARE DUE,
       HOW THEY SHALL BE PAID, WHEN THEY SHALL BECOME DELINQUENT; AND
       PROVIDING FOR INTEREST AND PENALTY ON DELINQUENT TAXES AND
       PRIVILEGES." be and is hereby amended so as to appropriate funds
       in the amount of $24,582.00 from the Contingency Fund to be paid
       as a matching fund for a TIIP Grant to assist JIT Terminal, Inc.
       in the financing of a three track rail spur to service a new 
steel
       processing operation to be housed in one of the former Combustion 

       Engineering buildings on West Main Street, or, in the 
alternative,
       to be used together with funds provided by the County of 
Hamilton,
       for a Public Works project for the construction of same.
       	    	 SECTION 2.  That this Ordinance shall become effective
       two (2) weeks from and after its passage as provided by law.
      
       PASSED on Third and Final
       Reading Sept. 17, 1991.	     _/s/________________________________
       	    	      	   	     	         CHAIRPERSON
      
       	    	      	   	     APPROVED:_______ DISAPPROVED:_______
      
       	    	      	   	     DATE:_________________ ______, 1991.
      
      
       	    	      	   	     _/s/________________________________
       	    	      	   	     	             MAYOR
       WSPjr:jrm