City Hall’s reserve fund is nearly empty, city officials acknowledged Monday as they prepare to work closely with City Council to erase the deficit. Mayor Gabriel J. Campana has proposed a tax increase and council had to up it further in light of the city financial picture. Residents with a house assessed at $100,000 will pay $1,547 a year if the 0.75-mills tax increase proposed by council passes on final adoption. But the reserve, or bank savings is at $12,000, and there are not many places to get out the scissors and cut, according to William E. Nichols Jr., city finance ...