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WHEREAS, in accordancewith Section 11-17 of the Code of <br />the City, the City Manager and the Director of Finance executed <br />and delivered the certificate required by such section to the <br />City Treasurer, and the City Treasurer and the City Clerk, in <br />accordance with the instructions set forth in such certificate, <br />issued and delivered $5,950,000 aggregate principal amount of <br />the Notes, a photocopy of the Notes in such principal amount <br />being attached hereto as Exhibit A; and <br /> <br /> WHEREAS, the Council of the City desires to approve, <br />ratify and confirm the action of the City Clerk, the City <br />Manager, the City Treasurer, and the Director of Finance in <br />issuing, selling, executing and delivering such Notes and <br />the form and details thereof, all in accordance with paragraph <br />4 of the Authorizing Resolution. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br />CITY OF PORTSMOUTH, VIRGINIA: <br /> <br /> 1. This Council hereby approves, ratifies and confirms <br />the action of the City Clerk, the City Manager, the City <br />Treasurer, and ~he Director of Finance of the City in issuing, <br />selling, executing and delivering $5,950,000 principal <br />amount of the Notes at a purchase price of par plus interest <br />accrued thereon from the date thereof ~o the date of delive~y <br />thereof and payment therefor. This Council further approves, <br />ratifies and confirms the form of the Notes attached hereto <br />as Exhibit A. <br /> <br /> 2. This resolution shall take effect from the date of <br />its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held November 10, 1981. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />