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A RESOLUTION AUTHORIZING THE PORTSMOUTH REDEVELOPMENT AND HOUSING AUTHORITY TO ADVERTISE AND HOLD PUBLIC HEARINGS RELATIVE TO THE ISSUANCE OF BONDS. 7 WHEREAS, recent changes in the statutory authority for the issuance of In~dstrial Development Bonds have impo~ed requirements that all such bonds issued after December 31, 1982, be approved after public hearings and after an affirmative vote of the elected legislative body of the City; and wu~c,~,~ ~ the enabling legislation of the Portsmouth Redevelopment ~-~ = ' ~_~ ~,~ous~n~ Authority authorizes it %0 issue such .~o~ds ,~ ........ he meanzng of the applicable Federal' . '- and ~ ~a~.~_ law; and WK~IREAS~ the ~ortsmouth Redevelopment and Housing Authority have requested that the City Council ests~lish a procedure designating it as an authorized agency to advertise and conduct the required public hearing relative to the issuance of such bonds; and ~,~E~?~AS~ it seems appropriate to~the City Council and consistent with the provisions and intent of the applicable Federal and Sta~e laws that the Portsmouth Redevelopment and Housing ~athority should hold the necessary public hearings on the bonds it proposes to mssue; and WHEREAS, the Portsmouth Redevelopment and Housing Authority would publish the required notice prior to the public hearing, conduct such public hearin%~ and for those financing arrangements approved, would forward resolutions recoT~r~ending approval to the City Council for their consideration; and WHEREAS~ in so doing, the Portsmouth Redevelopment and Housing Authority will provide certification by their legal counsel that all hearing requirements were conducted ac- cording to the applicable Federal and State law, indicate those co~±ssioners present for the meeting, and state the actual vote by the Authority on each request approved, and provide a certified copy of each resolution requiring action City Council; and . . ' WHEREAS ~-- Red~Tzelopment and- [- on~any--_