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124 <br /> <br />A RESOLUTION APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT <br />REVENUE BONDS BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE <br />CITY OF PORTSMOUTH, VIRGINIA, FOR GOLDmaN AND GOLDMAN, T/A <br />CAMPAIGN, INC. IN AN A~OUNT NOT TO EXCEED $600,000 FOR A <br />FACILITY AT 1140 SOUTH STREET IN PORTSMOUTH, VIRGINIA. <br /> <br /> WHEREAS, the IndustYial Development Authority of the City <br />of Portsmouth, Virginia (IDA) has been authorized by the Council <br />of the City of Portsmouth, Virginia, to advertise and hold <br />publichearlngs' relative to the issuance of Industrial Develop- <br />ment Revenue Bonds; and <br /> <br /> W~F~REAS, the IDA has considered the appli~tion of <br />Goldman and Goldman, T/A C~mDaiqn, Inc., for the issuance of <br />IDA Industrial Develop~ent R~ve~ue Bonds in an amount not to <br />exceed $600~,000 to assist in financing the acquisition, <br />renovation and equipping of a facility to be located at 1140 <br />South Street in the City of'Portsmouth, Virginia, and has <br />held a p~iic hearing thereon on December 12, 1983; and <br /> <br /> ~ER~AS~ the IDA has requested City Council to approve <br />the issuance of 5he bonds to comply with the applicable federal <br />and state law~ and <br /> <br /> WS~P~AS, a copy of the IDA's resolution approving the <br />issuance of the bonds, subject to the terms and conditions <br />contained therein, and the appropriate certifications and <br />docu/~enta~ien ~ ~ <br />consideration=n=~e been provided to the City Council for their <br /> <br /> N=W. ThrEe,FORE, BE IT RESOLVED by the Council of the City <br />of Portsmouth, Virginia, that the Council approves the i~suance <br />of Industrial Development Revenue Bonds by the Portsmouth Indust- <br />rial DevelopmentAuthority' for the benefit of Goldman and Goldman, <br />T/A Campaign, Inc. for the acquisition, renovation and equipping <br />of a facility at 1140 South Street in Portsmouth, Virginia. <br /> <br /> BE IT FURTHER RESOLVED that the approval of the issuance <br />of the bonds as required by the applicable federal and state <br />laws does not constitute an endorsement of the bonds, financial <br />viability of the facility, or the credit worthiness of the <br />company, but, as required by ~15.1-1380 of the Code of Virginia, <br />1950, as amended, the bonds shall provide that neither the <br /> <br /> <br />