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1987 Resolutions
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1987 Resolutions
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2/6/2009 3:37:51 PM
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Ord/Resolutions
Year
1987
Ord/Resolutions - Type
Resolutions
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of Title 15.1, Chapter 5, Article 7 of the Code of Virginia, <br />1950, as amended, and Article I of ChaDter 11 of the Code of <br />the City. Each Note issued hereunder shall be accompanied by <br />a certificate of the City Manager and the Director of Finance <br />of the City in the form prescribed in Section 11-17 of the <br />Code of the City. The provisions of paragraph 2 hereof shall <br />apply to the Notes to the extent that same are not paid from <br />the proceeds of the Bonds or from any other available funds. <br />The sale of the Notes and the form and other details thereof <br />shall be approved, ratified and confirmed bv the resolution <br />of this Council Bonds in anticipation of ~hi~h the Notes <br />are issued must be issued and sold in accordance with this <br />resolution not later than five years of the date of the <br />original issue of the first Notes. <br /> <br /> 5. The City Attorney of the City shall be and hereby <br />is directed to file a copy of this resolution, certified by <br />the City Clerk of the City to be a true copy thereof, with <br />the Circuit Court of the City of Portsmouth, Virginia, and <br />such City Clerk shall be and hereby is directed to publish <br />once within ten (10) days of the date of filing of such <br />resolution a notice with respect thereto in the Virainian <br />Pilot, a newspaper of general circulation in the City, in <br />accordance with Section 15.1-199 of the Code of Virginia, <br />1950, as amended. Such notice shall be in substantially the <br />following form: <br /> <br />"LEGAL NOTICE <br /> <br /> Notice is hereby given pursuant to Section 15.1-199 of <br />the Code of Virginia, 1950, as amended, that the Council of <br />the City of Portsmouth, Virginia, adopted on August 11, 1987, <br />a resolution authorizing the issuance, as a whole at one time <br />or in part from time to time, four hundred fifteen thousand <br />dollars ~($415,000) aggre~ake principal amount of general <br />obligation bonds and fu~the~ authorizing and providing for <br />the issuance and sale of general obligation bond anticipation <br />notes in anticipation of issuance of such bonds and caused a <br />certified copy of such resolution to be filed with the <br />Circuit Court of the City of Portsmouth on <br /> , 19 <br /> <br /> The proceeds of sale of such bonds and notes shall be <br />applied to the payment of the costs of the public improvement <br />projects described below in substantially the amounts set <br />forth opposite the descriptions of the respective projects: <br /> <br />PROJECTS AMOUNT <br /> <br />Drainage, Curb, Gutters and <br /> Street Improvements <br /> <br />$415,000 <br /> <br />provided, that if any such project shall require less than <br />the entire respective amount set forth above, the difference <br /> <br /> <br />
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