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106 <br /> <br />A RESOLUTION AUTHORIZING THE ISSUANCE OF TWENTY MILLION <br />ONE HUNDRED FIFTY THOUSAND DOLLARS ($20,150,000) <br />PRINCIPAL ~~MOUNT OF GENERAL OBLIGATION PUBLIC <br />IMPROVEMENT BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, <br />FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COSTS OF <br />VARIOUS PUBLIC IMPROVEMENT PROJECTS OF AND FOR SUCH <br />CITY, FIXING THE FO~ OF SUCH BONDS, PROVIDING FOR THE <br />SALE OF SUCH BONDS AND PROVIDING THE AUTHORIZATION OF <br />SUCH BONDS HEREIN IS, IN PART, IN LIEU OF CERTAIN <br />GENERAL OBLIGATION PUBLIC IMPROV~ENT BONDS HERETOFORE <br />AUTHORIZED <br /> <br /> WHEREAS, in the judgment of the Council (the <br />"Council") of the City of Portsmouth, Virginia (the <br />"City"), it is necessary and expedient to issue and sell <br />General Obligation Public Improvement Bonds of the City <br />in the principal amount of Twenty Million One Hundred <br />Fifty Thousand Dollars ($20,I50,000) for the purpose of <br />providing funds to pay the costs of various public <br />improvement pro3ects of the City; and <br /> <br /> WHEREAS, on November 8, 1983, the Council passed a <br />resolution, entitled "A RESOLUTION AUTHORIZING THE <br />ISSUANCE OF $1,824,876 OF GENERAL OBLIGATION BONDS OF <br />THE CITY OF PORTSMOUTH, VIRGINIA FOR THE PURPOSE OF <br />PROVIDING FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT <br />PROJECTS OF SUCH CITY AND AUTHORIZING AND PROVIDING WITH <br />RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL <br />AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN <br />ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS <br />OF SALE OF SUCH BONDS", and no bonds have heretofore <br />been issued pursuant to such resolution; and <br /> <br /> WHEREAS, on August 28, 1984, the Council passed a <br />~esolution, entitled "A RESOLUTION AUTHORIZING THE <br />ISSUANCE OF $2,995,000 OF GENERAL OBLIGATION BONDS OF <br />THE CITY OF PORTSMOUTH, VIRGINIA FOR THE PURPOSE OF <br />PROVIDING FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT <br />PROJECTS OF SUCH CITY AND AUTHORIZING AND PROVIDING WITH <br />RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL <br />AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN <br />ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS <br />OF SALE OF SUCH BONDS", and no bonds have heretofore <br />been issued pursuant to such ~esolution; and <br /> <br /> WHEREAS, on October 9, 1984, the Council passed a <br />~esolution, entitled "A RESOLUTION AUTHORIZING THE <br />ISSUANCE OF $5,305,000 OF GENERAL OBLIGATION BONDS OF <br />THE CITY OF PORTSMOUTH, VIRGINIA FOR THE PURPOSE OF <br />PROVIDING FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT <br />PROJECTS OF SUCH CITY AND AUTHORIZING AND PROVIDING WITH <br />RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL <br /> <br /> <br />