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1995 Resolutions
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1995 Resolutions
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2/6/2009 3:36:33 PM
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6/11/2001 5:01:48 PM
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Ord/Resolutions
Year
1995
Ord/Resolutions - Type
Resolutions
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interest accrued thereon from the date thereof to the date of <br />the delivery thereof and payment therefor and on such other <br />terms and conditions as are determined by the Deputy City <br />Manager for Finance of the City. The City may sell all or part <br />of the Notes alone or contemporaneously with any other general <br />obligation notes or with any general obligation bonds of the <br />City. There may be prepared and distributed a preliminary and <br />a final Official Statement relating to any Notes in such form <br />as shall be approved by the Deputy City Manager for Finance of <br />the City. The issuance and details of such Notes shall be <br />governed by the provisions of Section 15.1-227.29 of Title <br />15.1, Chapter 5.1, Article 2 of the Code of Virginia, 1950, and <br />Article I of Chapter 12 of the Code of the City. Each Note <br />issued hereunder shall be accompanied by a certificate of the <br />City Manager and the Deputy City Manager for Finance of the <br />City in the form prescribed in Section 12-16 of the Code of the <br />City. The provisions of Paragraph 2 hereof shall apply to the <br />Notes to the extent that same are not paid from the proceeds of <br />the Bonds or from any other available funds. The sale of the <br />Notes and the form and other details thereof shall be approved, <br />ratified and confirmed by resolution of the Council. Bonds in <br />anticipation of which the Notes are issued must be issued and <br />sold in accordance with this resolution not later than five <br />years from the date of the original issue of the first Notes. <br /> <br /> 5. The Bonds authorized hereby are in lieu of and in <br />substitution for the authorized and unissued general obligation <br />public improvement bonds heretofore authorized in resolutions <br />adopted by the Council (a) on November 10, 1992 authorizing <br />$10,000,000 principal amount of General Obligation Public <br />Improvement Bonds of the City, (b) on November 9, 1993 <br />authorizing $11,200,000 principal amount of General Obligation <br />Public Improvement Bonds of the City, (c) on February 28, 1995 <br />authorizing $7,375,000 principal amount of General Obligation <br />Public Improvement Bonds of the City, and (d) on August 22, <br />1995 authorizing $23,750,000 principal amount of General <br />Obligation Public Improvement Bonds of the City, and the <br />authorizations provided in such resolutions shall not be or be <br />deemed to be in addition to the Bonds authorized hereby, and <br />such resolutions are hereby rescinded and repealed; provided <br />that no provision of such resolutions adopted by the Council on <br />November 10, 1992 and November 9, 1993 shall be rescinded or <br />repealed to the extent such rescission or repeal would impair <br />the authorization and security for the City's $7,000,000 <br />principal amount of City of Portsmouth, Virginia, General <br />Obligation Public Improvement Bond anticipation Notes, dated <br />March 3, t995 and maturing January 15, 1996, or the City's <br />$5,000,000 principal amount of City of Portsmouth, Virginia, <br />General Obligation Public Improvement Bond Anticipation Notes, <br />dated June 28, 1995 and maturing January 15, 1996. <br /> <br /> <br />
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