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¸t7 ~ .-- A RE~f~US~ON CONTRACTING TO Gt~qA~i~ FUNDS UP ~TO $326~0~O_-. 'TO'THE z ~ SOU~'n~AS'±'~<N PUBLIC SERVICE AUT~ORIT~ OF ~RG~A ON u~ CONDITION; AUtHORiZING ~ ISSUANCE OF $326,0OJ. OF ~CkNDS TO BE KNO~%~ AS G~ERAL OS~IGATION B(kNDS FOR ~ pURPOSE OF CO~q3NITY SERVICES. WHEREAS, tb~ ci~ies of Chesapeake, Franklin, Norfolk_, Portsmouth, Suffolk and Virginia Beach and the counties of Isle of Wight and South- ampton have heretofore c~eated the Southeastern Public Service Authority of Virginia (the "Authority") pursu~n% to the provisions of ~he Virginia Water and Sewer Authorities Act, being Chapter 28, Title 15.1, Code of Virginia, 1950, as amended, for the purpose'of providing for %he ac- q~isition~ financing construction, operation and maintenance of a water system ~nda garbage and refuse collection and disposal system, ~nich will b~ publicly owned and controlled reqionat projects ~itbin the ~g of Article VII, Section lO(a) (4) of the Cc~sti~u~ion of Virginia; an~ ~2~%EAS, the Southeastern Virginia Planning District Cc~mission ~nd He~ningson~ ~drh~m & Richardson have made preli~ investigations and studies and ha%~ prepared and filed with the Authority their M~rch 1977 report entitled: '~Resource Recovery /~pi~entation Plan"; and ~FAS, the Authority has determined to provide for ~ issuar~ce at this ti~e of its notes in the aggregate principal amount of One Million, N~ne Hundred Thirty-one ($1,931¥000.) Dollars for ~he purpose of providing ~unds for paying a part of the cost of plan~ ~nd design of a garbage and refuse collection and disposal system; and WHEREAS, the councils of the cities of Franklin, Norfolk, Suffolk and VirgiDia Beach have determined that in order %o enhance marketability of said notes to be issued by the Authority on account of suc~ garbage and refuse collection ~nd disposal system~ ss~d councils ~ould require ~he power to contract obligations to p~ovide p~ymen%s o%~r a period or periods of ~ore ~han one year to the Authority ~o guarantee would be an excluded indebtedness within the meaning of an~ for the purposes of Article VII, Section lO(a) (4) of the Constitution of Virginia;. ' '~ . WHEREAS, the Genera~ ~Ass~e~..lY.O~ V..'.~F~'~a by..~, pt.~e~ ~ - ~ :~:~;' 0b~i~ati0ns to ~rovid~ p~ts over a perlo~ or perlcos o~ ~ ~,~ - e~ ~ of-all o~ ar~- ~ o~ the "~-~ ~;ear to the Authority tO ..... c~uaran~ pa~ ~--~ -." '~ ...... ~ ~ ~ ~n~r~q~ n 'r~D~es i$SU6~ f~CER ~ ~O~ ~3/~ by the Authority on account of ~ts garbage and refuse coilect~on ar~