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THE REISSUANCE AND MODIFICATION OF REVENUE BONDS BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA, ~OR~AIRLINE BOULEVARD ASSOCIATES IN AN A~OUNT NOT TO EXCEED 000 FOR REFUNDING OF AN EXISTING BOND ISSUE WHICH WAS THE COST OF ACQUISITION, CONSTRUCTION AND EQUIPPINGOF-A"MINI-WAREHOUSE PACILITY AT 2604 AIRLINE ~IN~THE CITY OF PORTSMOUTH, VIRGINIA. 127 Industrial Development Authority of the Virginia, (IDA) has been authorized by City of Portsmouth, Virginia, to advertise relative to the issuance of Industrial ~ue Bonds; and February 1, 1981, the IDA issued, sold, and Thousand ($700~000) Dollars principal Bonds (Airline Boulevard Associates ~f%er called (%he "1981 Bonds") %o enable Associates, a Virginia Limited Partnership, of acquisition, construction, and equipping ?a~minl-wareho~se facility at 2604 Airline Boulevard in · Virginia (the "~acility"); and ~WHEREAS, IDA has considered the applicatio~ of Airline a Virginia Limited Partnership, with its ~f business at 2604 Airline Boulevard, Ports- for the reissuance and modification by the Bonds" in the amount of Seven Hundred Dollars for the purpose of refunding the held a public hearing thereon on November IDA has requested that the City Council reis~uance and modification of the bonds for with the applicable federal and state , ~ Copy of IDA's resolution approving the reissuance ~ification of the bonds, subject to the terms and ions contained therein, and the appropriate certificatmons ~nd%~'d~cumenta~i0ns have been provided to the City Council ; and ~he purpose of,,reissuing and modmfv~ng'. . these be~to refund the 1981 Bonds" without ~ncreasin a~ount o~i~he term thereof and, as such, does not requmre llocation~of any portion of the City's limit imposed )urs~ant %0 Executive Order No. 50 (84) providing for a for ~llocating the State Ceiling for the Commonwealth pursuant to ~103 (n) of the Internal Of 1954, as amended.