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about the plan. <br />project. <br /> <br /> Thursday, January 07, 1999 <br /> <br />All Councilmembers commended the School Board and Superintendent for their work in the <br /> <br />Vice-Mayor Teague outlined anticipated revenues and expenditures on the project. Of the $9,100,000, <br />$7,500,000 will be borrowed from the State Literary Fund; $453,000 in interest; $175,000 from the City's <br />1999/2000 Meals Tax Fund; $175,000 from the City's 2000/2001 Meals Tax Fund; $279,000 from the <br />State's 1998/1999 allocation for school construction funds; and $277,000 from the State's 1999/2000 <br />allocation for school construction funds. The grand total for revenues is $8,859,000. This leaves the City <br />with a shortfall of $241,000. <br /> <br />There being no further business, upon motion duly seconded, by unanimous vote, Vice-Mayor Teague <br />declared Couneil's meeting adjourned, and School Board Chairman William Shackleford adjourned the <br />School Board's meeting. <br /> <br />Clarence C. Monday, Assistant Clerk of Council M. Gene Teague, Vice-Mayor <br /> <br /> <br />