1982 Resolutions - Laserfiche WebLink

Home Browse Search

· Any moneys held by a paying age~ ~or the Notes for the payment of the principal and interest on any Notes for three years after the date of maturity of such Notes shall, upon the w~itten request of the City, be paid to the City. ~ .... tf any Note shall not be presented for payment when tke principal thereof~shall become due, and-if moneys or Goverr~ental Obligations shall at'such.due date be held -,by a.paying ~agent~for the Notes in trust for that purpose -sufficient and ~va~lable to pay .the principal of such ~ote, ~together with allli~terest' due ~hereo~-~o the due date~ thereof, ali liabflity ~f the City for~such pa.yment shall ~0rthwi~h cease, dete~mine'and be comPletely discharged,'/ and thereupon it shall be the duty of such paying agent to hold such~oneys O~ Governmental Obligations in tr~st~for . the benefit of the hotder of such Note provided that ~f moneys or Governmental Obligations<have been deposited or set aside ".with a paying agent for the Notes pursuant to this Section !O(h) for the payment of the Notes.but such'Notes shall~nct have in fact been act~ly paid in full, no amendment to the provisions of this ~ on lO(h) shall he'made without the h'oonsent of theholder ~ach Note affected thereby. . Ths'icity Attorney of the City..is-directed to file a copy of this Resolution, cert~fle by the City Clerk of the City to be a true copy hereof, with the Circuit Court of the'City and'such City Clerk is directe~ to publish once within ten (10) days of the date of such filing a.noticeiin The-Virginian Pilot, a newspape=.of general circulat~o~in~theC--~y,~in accor~-a-~-6~.with Section 15.1-199. -of the ~C09~ 6flVirginia, 1950, as amended. ~Such notice~ shall be ~n substanti&li~ the following form~ "LEGAL N'0TICE Notice is hereby given pursuant to Secti0~ 15.1-199 and 15.1-222 of the Code of.Virginia, 1950; as amended, that the Council of the City of'Portsmouth, Virginia,. - adopted on June.22, 1982, a resolution authorizing the issuance of $3,200,000 principal amount of general obligation Grant Anticipation Notes, Series of 1982, of. such City and .caused a certified copy~of such resolution to be filed in the Circuit Court of the City of Portsmouth on , 1982. The proceeds of sale of the Grant Anticipation Notes, Series of 1982, shall be applied to the pay~/ent of a portion of the costs of wastewater treatment works of and for the City ~n anticipation of the receipt by the City of the proceeds of a grant from the United States of America, acting by and through the Environ- mental Protection Agency. City Clerk"