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Principal An~)unt Purpose Original Issuance Renewal Issuance Date Interest Date Interest $300,000 Education 3-30-82 8.873% $1OO,0OO Crawford Harbor $200,000 $300,000 Crawford Harbor $300,000 5-11-82 8.25% WHEREAS, in accordance with Section 11-17 of the Code of the City, the City Manager and the Director of Finance executed and delivered the certificate required by such section to the City Treasurer, and the City Treasurer and the City Clerk, in accordance with the instructions set forth in such certificate, issued and delivered $2,300,000 aggregate principal amount of the Notes, a photocopy of the Notes in such principal amount being attached hereto as Exhibit B; and WHEREAS, the Council of the City desires to approve, ratify and confirm the actions of the City Clerk, the City Manager, the City Treasurer, and the Director of Finance in issuing, selling, executing and delivering such Notes and the form and details thereof, all in accordance with paragraph 4 of the July 14~, 1981 Authorizing Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA: 1. This Council hereby approves, ratifies and confirms the actions of the City Clerk, the City Manager, the City Treasurer, and the Director of Finance of the City in issuing, selling, executing and delivering Ten Million ($10,O00,OOO) Dollars aggregate principal amount of the Notes at a purchase price of par plus interest accrued thereon from the date thereof to the date of delivery thereof and payment therefor. This Council further approves, ratifies and confirms the form of the Notes attached hereto as Exhibit A and Exhibit B. 2. This resolution shall take effect from the date of its adoption. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held May 25, 1982. Teste: City Clerk