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1985 Resolutions
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1985 Resolutions
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2/6/2009 3:38:22 PM
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Ord/Resolutions
Year
1985
Ord/Resolutions - Type
Resolutions
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($20,000,000) without further aDproval of the Henrico <br />Authority to finaQce the Maryview Project, which Bonds <br />may be part of one or more series of Bonds for other <br />purposes; and <br /> <br /> WHEREAS, Section 15.1-1378 of the Code of Virginia, <br />1950, as amended, states that an Industrial Development <br />Authority may not finance facilities in another <br />jurisdiction that has an Industrial Development <br />Authority "unless the governing body of such county, <br />city or town in which the facilities are located, or <br />proposed to be located, concurs with the Inducement <br />Resolution adopted by the Authority, and shows such <br />concurrence in a duly adopted resolution"; and <br /> <br /> WHEREAS, Bon Secours and Maryview Hospital-have <br />asked the City Council of the City of Portsmouth, <br />Virginia, to express its concurrence with the <br />"Resolution" so that the Henrico Authority may issue its <br />Bonds on behalf of Bon Secours and Maryview Hospital as <br />described above. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of <br />the City of Portsmouth, Virginia that the Council hereby <br />expresses its concurrence w~th the "Resolution" adopted <br />by the Henrico Authority for the benefit of Bon Secours <br />and Maryview to the extent required by Section 15.1-1378 <br />to allow the Henrico Authority to use the proceeds of <br />one or more series of bonds issued by it (a) to refund <br />the Maryview 1979 Bonds, and (b) to finance the <br />acquisition and installation of the Maryview Project. <br /> <br /> BE IT FURTHER RESOLVED that the. City Clerk be, and <br />she hereby is, instructed to forward a copy of this <br />Resolution to the Industrial Development Authority of <br />the County of Henrico, Virginia, and to Maryview <br />Hospital. <br /> <br /> This Resolution shall take effect immediately upon <br />its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held October 1, 1985. <br /> <br />Te ste: <br /> <br />City Clerk <br /> <br /> <br />
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