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44 <br /> <br />A RESOLUTION AUTHORIZll~G THE ISSgANCE OF FIVE ~LLION DOLLARS ($5,000,000) <br />PRINCIPAL A~4OUNT OF G~L~AL OBLIGATIf~ PUBLIC UTILITY BONDS OF THE CIT~ <br />OF PORTSMOUTH, VTRGINTA, FOR THE PURPOSE OF ~Iaf</NG CAPITAL tMPRC~JEMENTS, <br />EXTENSIfkNS ~ND ADDITIONS TO THE W~±'~ Ak~ SE~,~AC~ SYSTEM OF SAID CITY, <br />PURSUANT TO ARTIfW,F, VII, SECTIfkN lO(a) (2), OF 5vile CONSTI~JTION OF VIRGINIA, <br />FIXING THE FORM OF SkID BONDS AR~ PROVIDING FOR THE, SAY,V. OF SAID <br /> <br /> WH~AS, %he City of .Portsmouth (the "City") is authorized to operate <br />a wa%~ utili~- syst~, ~clu~ wa~r p~u~ion, prep~a~on, dis~i- <br />bu~on ~d ~ssion syst~; <br /> <br /> ~, ~e City is au~orized to opiate a ~erage u~ sySt~, <br />~cluding s~we~ge ~ssion, ~ea~nt ~d ~sal syst~; <br /> <br /> ~S, ~e Ci~ is au~orized <br />sewerage syst~ as a s~gle ~li%y ~st~; smd <br /> <br /> ~, such co~%ed wate~ ~d s~erage syst~ ~ ~ ~de~ <br /> fr~ w~ch ~e Ci[y derives rev~; ~d <br /> <br /> ~, ~e ~%y~ of Po~u%h is au~ori~ed ~er ~d by ~ue <br /> of ~cle VII, Section 10(a) (2), of ~e ~nsti~tion of V~g~ia, Chapter <br /> 5 of Title 15.1 of ~e ~de of Virg~ia, 1950, ~ ~e C~er of ~e Ci~, <br /> to issue ~n~ as ~y <br /> ~d ad~tio~ <br /> <br /> ~, ~%icle ~I, ~ction lO(a) (2), of ~e Constitution of <br /> Virg~ia, r~res ~e or~ a~oriz~ ~e iss~ce of such ~ds <br /> %o ~ approved by ~e affi~tive vote o~ ~e ~jori~ of ~e ~ified <br /> ~ers of <br /> <br /> ~, by v~ue of ~ or~sr~ce ad~h~ by ~e ~ciI of ~e <br /> Au~orize ~ae Iss~ce of $8,~,~. Of ~nds ~ ~ ~owm ~ ~c <br /> ~ili%y ~n~ For ~e ~se Of ~g ~i%al ~v~nts, ~e~ions <br /> ~d Addi~io~ <br /> S~erage S~s%~nl, ~s~nt' ~ ~cle ~I, Se~ion 10(a) (2) Of ~e 1970 <br /> <br /> ~der en%~ on Au~ 1, 1975, ~re~ed ~at ~e ~ s~t%ed %o ~e <br /> ~alifi~ voters of ~e City at ~ ele~on ~ ~ held on N~r 4, <br /> 1975, ~e ~eshion %~he~er ~e Eight ~llion ~ll~s of ~nds a~r~ <br /> by ~e s~d ord~ce shoed <br /> <br /> <br />