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1976 Resolutions
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1976 Resolutions
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7/17/2001 6:09:03 PM
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Ord/Resolutions
Year
1976
Ord/Resolutions - Type
Resolutions
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delivery of and pay for the bonds in accordance with the <br />terms of its proposal. No CUSIP identification number shall <br />constitute or be deemed to be a part of any bond or a part <br />of the contract evidence thereby and no liability shall <br />attach to the City or any of its officers or agents because <br />of or on account of any such number or any use made thereof. <br />All expenses in relation to the printing of CUSIP identification <br />numbers on the bonds shall be paid for by the City; provided, <br />however, that the CUSIP Service Bureau charge for the assignment <br />of said nurabers shall be the responsibility of and shall be <br />paid by the successful bidder for the bonds. <br /> <br /> The opinion of Messrs. Wood Dawson Love & Sabatine <br />approving the validity of the bonds will be furnished the <br />successful bidder for the bonds. Such opinion will state <br />that the bonds constitute valid and legally binding obligations <br />of the City and that the City has power and is obligated to <br />levy ad valorem taxes for the payment of the bonds and the <br />interest thereon upon all property within the City, subject <br />to taxation by the City, without limitation of rate or <br />amount, it being understood that the rights of the holders <br />of the bonds and the enforceability thereof may be subject <br />to judicial discretion and to valid bankruptcy, insolvency, <br />reorganization, moratorium and other laws for the relief of <br />debtors, and will also state that the interest on the bonds <br />is exempt from taxation by the United States of America <br />under existing law and under the existing law of the Con, on- <br />wealth of Virginia such interest is not includable in computing <br />the Virginia income tax. A copy of such opinion will be <br />printed on each bond. <br /> <br /> Requests for proposal forms, for the official <br /> statement pertaining to the Bonds and for further information <br /> should be addressed to Mr. Roy W. Cherry, Director of Finance, <br /> City of Portsmouth, Po O. Box 820, Portsmouth, Virginia 23705. <br /> Proposal forms and the official statement may also be obtained <br /> at the office of Messrs. Wood Dawson Love & Sabatine, 48 Wall <br /> Street, New York, New York 10005. <br /> <br />Robert T. Williams <br />City Manager <br />Portsmouth, Virginia" <br /> <br /> 10. The City Attorney of the City shall and is hereby <br />directed to file a copy of this resolution, certified~by <br />the City Clerk of the City to be a true copy hereof, with <br />the Circuit Court of the City of Portsmouth, Virginia, and <br />said City Clerk shall and is hereby directed to publish once <br />within ten (10) days of the date of such filing a notice in <br />The Virginian-Pilot , a newspaper of ~eneral circulation <br />in the City, in accordance with Section 15.1-199 of the Code <br /> <br />-12- <br /> <br /> <br />
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