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88 <br /> <br />A RESOLUTION AUTHORIZING THE' ISSUAN~CE OF TWENTY-TWO MILLION <br />DOLLARS ( $22 ,O00,000 ) PRINCIPAL AMOUNT OF GENERAL OBLIGATION <br />PUBLIC IMI~ROVEMENT BONDS OF THE CITUf OF PORTSMOUTH, <br />VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE <br />COSTS OF ~ARIOUS PUBkIC IMPROVEMENT PROJECTS OF AND FOR-SUCH <br />CIT~C, F/_~IING THE FORM OF SUCH BONDS. PROVIDING FOR THE SALE <br />OF SUC~I-BONDS AND PROVIDING THE AUTHORIZATION OF SUCH BONDS <br />HEREIN IS-. IN PART, IN LIEU OF CERTAIN GENERAL OBLIGATION <br />PUBLIC I~[PROVEMENT BONDS HERETOFORE AUTHORIZED. <br /> <br /> WHEREA~, in the judgment of the Council'of the <br />CIt of o~tsmouth, Virginia (the Council ), it is <br />necessary and expedient to issue and sell General Obllga~_on <br />Public 'i~rovement Bonds of the~City of Portsmouth (the...- . <br />"City") i~ the principal amount of Twenty-Two Million <br />Dollars (~22,000,000) for the purpose of providing funds to <br />pay the costs of various public improvement projects of the <br />City; <br /> <br /> WHEREAS, 'oh January 13', 1981 the Council <br />resolution entitled "A RESOLUTION AUTHORIZING THE ISSUANCE <br />OF $10,754,837 !OF GENERAL OBLIGATION BONDS OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO <br />PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY <br />AND AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE <br />AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION <br />BOND .~NT!CIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND <br />RECEIPT OF THE PROCEEDS OF SALE OF SUCH BONDS AND APPROVING, <br />RATIFYING AU~ CONFIRMING'THE ISSUANCE OF $2,050,000. <br />PRINCIPAL AMOUNT OF SUCH GENERAL OBLIGATION BOND <br />ANTICIPATION NOTES" and no bonds have heretofore been issued <br />pursuant to such resolution; and <br /> <br /> WHEREAS/on J~ly 14, 1981 the council passed a <br />resolution entitled, "A RESOLUTION AUTHROIZING THE ISSUANCE <br />OF $5,281,814, OF GENERAL OBLIGATION BONDS OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO <br />PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY <br />~ND AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE <br />AND SALE OF A LIME PRINCIPAL AMOUNT OF GENERAL OBLIGATION <br />BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND <br />RECEIPT OF THE PROCEEDS OF SALE OF SUCH BONDS" and no bonds <br />have heretofore bee~ issued pursuant to such resolution7 and <br /> <br /> WHEREAS~ on Mar~h 9~ !98~ the Co~u~il passed a <br />resolution entitled, "A RESOLUTION AUTHORIZING THE ISSUANCE <br />OF $3,217,964 OF GENERAL OBLIGATION BONDS OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDNG FUNDS TO <br />PAY THE COST OF CERTAIN CAPITAL IMPROVEMENTS, EXTENSIONS AND <br />ADDITIONS TO THE WATER AND SEWER SYSTEM OF THE CITY AND <br />AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE AND <br /> <br /> <br />