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62 <br /> <br />A RESOLUTION OF THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA, <br />APPROVING, RATIFYING AND CONFiP~4ING THE ISSUANCE AND SALE OF <br />$10,00©,O00 PRINCIPAL ~A~.OUNT OF GENERAL OBLIGATION BOND-ANTI- <br />CIPATION NOTES OF SUCH CITY FOR THE PURPOSE OF PAYING THE COST <br />OF VARIOUS PUBLIC IFiPR0VEMENT°PROJECTS I~ ANTiCIPATI~LOF THE <br />ISSUANCE~ND RECEIPT OF THE PROCEEDS OF SALE OF GENE <br />OBLIGATION BONDS OF SUCH CITY FOR SUCH PURPOSES AND APPROVING, <br />RATIFYiN~ AND CONFIIA~z-~N~ THE F0~M AND OTHER DETAILS OF SUCH <br />NOTES. <br /> <br /> %~_E~E~S, the COuncil of the City of Portsmouth, Virginia <br />(the "City"), on January 13, 1981 adopted a resolution en- <br />titled~"~ RESOLUTION AUTHORIZING THE ISSUANCE OF $10,754,837 <br />OF GENEP~L-OHLIGAT!O~ BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, <br />FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF VARIOUS <br />IMPROVF2~NT PROJECTS OF SUCH CITY AND AUTHORIZING A-ND PROVIDING <br />WITH RESPECT'TO THE ISSUANCE A~ND SALE OF A LI~E PRINCIPAL <br />AMOUNT~QF GENERAL OBLIGATION BOND ANTICiPATIONNOTES IN <br />ANTiCIP~IONOF THE-iSSUANCE AND RECEIPT OF THE PROCEEDS - <br />OF SALE O~ SUCH BONHDS ~D APPROVING, RATIFYING ANDCONFIRMING <br />THE iSSU~NCE OF $2,050~O00 PRINCIPAL A~MOUNT OF SUCH GENERAL <br />OBLIGATION BONDANTiCiP~TION NOTES" (the "Authorizing Reso- <br />lution"}; and~ ~ <br /> <br /> WHEREAS, pursuant% to and in accordance with paragraph <br /> 5 of the Authori~i~ Resolutmon~ the Cmt~ Attorney zmled <br /> copy of the AuthOriZing\Resolution, certmfied by the city <br /> Clerk to be a %rue copy thereof, with the Circuit Court <br /> of the City, and Such C~ty Clerk published wit/n_in ten [10) <br /> days of the dare'of suc~ filing a notice wit~ respect thereto <br /> in The VSrginian ~iio~ 'in substantially the form set forth <br /> in maragra~h 5 or,the Authorizing Resolution; and <br /> <br /> WHEREAS, paragraph4 of the Authorizing Resolu~mon <br /> authorizes the issuance and sale o~ $tO,754,837 aggregate <br /> principal ~mount of g. eneral obligation bond anticipation <br /> notes of the City (the "Notes") in anticipation of the <br /> issuance Of general obligation bonds authorized to be issued <br /> under the Authorizing Resolution and the receipt of the <br /> proceeds thereof, provided the proceeds of the Notes are <br /> applied to the same purposes and in the same respective. <br /> amounts as are specified in paragraph 3 of the Authorizing <br /> Resolution with respect to the appticatio~ of the proceeds <br /> of such bonds; and <br /> <br /> <br />