1980 Resolutions - Laserfiche WebLink

Home Browse Search

19 A RESOLUTION POSTPC~JI~ THE SAI~ OF A~[ ACne, GATE $12,CO0,000. PRINCIPAL Ak~DUNT OF GEN_~TZAL OBLIGATION BON~S OF T~ CITY .C~ POZf~C~Yi~_~, VIRGI~JLA. ~;~HEREAS, the ~micipal Pond mar3met has deteriorated substantially since January 22, 1980; and ~KK~W3~AS, the Municipal Finance Conmlission has reviewed the M~mici~al Bond ~=~rket and recoma~nded the postponJm~g of the sc~h~uled sale of General Obligation Ponds; and I~S, the Council of the City of Porqs~outh no longer deems it advis~b~-e to sell Ge~nera! Obligation Ponds at this t~. ~J~ %~EFORE, BE IT RESOLVED by the Council of ~-he City_ of Ports- mu~h, Virg~_nia, ~at ~e sale of Sev~ ~llion ~ll~s ($7 ~. ) pr~cip~ ~t of C~eral Obligation ~lic ~rov~t ~n~ of ~e Ci~ of ~u~, Virg~a, ~nd Five ~llion ~1~ ($5~,~.) pr~c~pa! ~ of C~er~ Obligation ~lic U%ili~ ~n~ of ~he City of Po~u~, Virg~ia, au~orized to ~ issu~ ~ ~ld p~s~t ~o ~solntioD3 Nos. 198~!4 ~d 198~13 adopt~ by ~e ~cil of ~ Ci~ of Po~u~h, Virg~ia, on J~u~ 22, 1980 ~d ~tled, "A ~0~'1~!~ A~O~IZ~G ~ IS~ OF S~ ~T.TJON ~ ($7,~,~.) P~C~ ~ ~ ~ OB~C~ON P~LIC ~R~ ~S ~ ~ CI~ OF ~M~, V~, FOR ~ ~OSE OF PR~ F~S ~ ~ ~ C~ ~ ~0~ P~C ~R~ PR~ OF ~ CI~, V~G ~ FO~ OF S~ ~S ~ PR~ FOR ~ S~ ~ S~ ~S" ~ "A ~SO~ A~O~ZING ~ ISSU~CE OF F~ ~t~ ~ ($5,~,~.) PR~ ~7~ OF ~ OBlaTION P~C ~I~- ~S OF ~ CI~ OF PO~D~, %~G~A, FOR ~ P~SE OF ~ ~ ~R~, ~'~IO~TS ~ ALmDI~S ~ ~ ~ ~ S~ ~S~ OF S~ ~, P~ ~ ~f~'I~ ~I, ~I~ 10(a) (2), OF ~ ~I~N OF ~- G~, F~ T~ ~ OF S~ ~S ~ ~D~ ~ ~ S~ ~ ~ ~S" shall ~ ~st~n~ ~til such later date ~ ~ Co~cil sha~ au~orize. BE iT ~Z~%~ RESOLVED by the Council of the City of Po!~smout~h, VirgiD_~a, that. all o~b~r resolutions, ordinances or ordeals or parts thereof in confli~ w~._th '~he. provisions of this resolution ~re to fine extent of t~is conflict hereby repealed. This resolt~hion shall take effect from the date of its adoption. Adopted by the Co~acil of the City of Poztsmouth~ VirgLnia, at a meeting held F~aa~f 26, 1980. Teste: City Clerk