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'"'~' - Se ~he.~offer of Hornet, Barksdale & Co. and Ehrlich-Bober & Co..,~ Inc. (the "Underwriters") to purchase the Notes~from the City for a purchase price of $3,168~0~0.0~ .~ and accrued interest from the date of the Notes to the date of' delivery thereof and payment therefor, in accordance with'theterms and conditions of the Note Purchase Agresment~dated as of June 22, 1982 between the City _ a~d.t~he ~nderwrite~s~(the"Note Purchase Agreement") submitted to and~iled withlthe~minutes of the meeting at which this Resolutio~ isbeing.adopted, is accepted. This Council approves the formand~content of the Note Purchase Agreement .... and authorizes an~;~di~ects the City Manager to execute and.:deliver, the~ot~ Purchase Agreement to the Underwriters :.:%~ in such form. 'The proceeds of sale of the Notes shall be - : deposited, in acc0~d~ce with the pr~y~sions of Section 10. Council approves the form of _~' Official~Statement r~lating to the Notes submitted to and 'filed' the minutes-of the meeting at which this is.being.adopted and authorizes the City Manager i~..~.. .Finance toexecute the 0fficia~ Statement '- ...~:-. in ~ to use the Official with the sale of the Notes. p~olceeds~f sale of the Notes in the Note Repayment Account hereinafter -~"~.' the amount necessary to pay the ~1-.. 'from their date unti~ their stated interesb~ Account hereinafter created and established, ~the balance of such proceeds. . ~ f (b) There shall be established ~ trust account to be.designated as the"City of Portsmouth, Virginia, Grant Anticipation-Notes, Series of 1982, Construction Account" (the. "COnstruction Account"), to be.held in trust and administered by theCity under this. Resolution~ There shall be deposited in'the Construction Account the amount provided in Section lO(a) (ii) i In addition~ there shall he deposited in the Construction Account any other moneys made available to the City by federal or other grants when accompanied by appropriate instructions from the City to make such deposits, and in such event, investments of such moneys may be restricted in accordance with the instructions then received from the City.