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..!'_..A REsoLuTION AuTHORIzING THE ISSUANCE OF THREE MILLION TWO ~ ~HUNDRED~,.~HOUSAND DOLLARS ( $ 3,200, OO0) PRINCIPAL ~OUNT OF GRANT ANTICIPATION NOTES, SERIES OF 1982, OF THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING MONEYS ~TO ~PAY A PORT~ON OF THE COSTS OF ACQUISITION, CONSTRUCTION ~: .~'AND INS~L~J.kT~ON OF WASTEWATER TREATMENT WORKS OF AND FOR · ~ i. SUCH CIT~/ IN kNTICIPATTON OF THE RECEIPT OF THE PROCEEDS · .OF A.GP~RIT .DU~ TO SUCH CITY FROM. THE UNITED STATES OF ' AMERICA;, ACTING BY.AND THROUGH THE ENVIRONSiENTAL PROTECTION '~JAGENCY~ ~iXIN~ THE FOP~ OF SUCH NOTES;AND PROVIDING FOR THE - ~':SALE OF S~CH ~ ~ then current -=s and ' WHEREAS $4 ~404,O20 oi ~30, 1983;' an of America, acting by Environmental Protection Agency (the "EPA"), ,~Virginia (the "City"), $10,8'72,370 (the "Grant") for the on of the costs'of the acquisition, .lation of wastewater treatment works ject"); and s em~ r Section 15.1-222 "' ' 1950, as amended, to borrow meeting appropriations made. for the ~n anticipation of the collection of the fiscal year and within the and . ~ $4,404,020 during the ?June 30, 1983- in anticipation o revenues of the Grant; and is d~e to receive'~approximately the.Grant during the fiscal year ending June ., 'WHEREAS in'.~hei~dgment of ~he~Con~cil of the City, - ~. i it is necess, ry~and expedient to zssue and s~ll general - Obligation G~ant'Antlcipation Notes 0f the City in the principal amount of Three Million Two Hundred Thousand Dollars ($3,200,000! pursuant to such Section 15.1-222 for the purpose of providing moneys to pay a portion of the costs of the acquisition, construction and installation of the P~oject ~n anticipation of the receipt of revenues consisting of the proceeds of the Grant; and WHEREAS, the borrowing authorized to be made hereby a~ the time the same is made will be for the then current fiscal year, i.e., the fiscal year ending June 30, 1983.