Laserfiche WebLink
A RESOLUTION AUTHORIZING THE ISSUANCE OF TEN MILLION DOLLARS <br />($10,OO0,000.) GENERAL OBLIGATION BONDS OF THE CITY OF PORTS- <br />MOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS FOR URBAN <br />RENEWAL PURPOSES; FOR THE ACQUISITION OF LAND; FOR THE CON- <br />STRUCTION, IMPROVEMENTS, AND REPAIRS OF PUBLIC BUILDINGS AND <br />FACILITIES; FOR THE CONSTRUCTION OF CURBS~ GUTTERS AND DRAINAGE <br />FACILITIES, STP~ET, HIGHWAY AND BRIDGE IMPROVEMENTS; FOR THE <br />CONSTRUCTION AND EQUIPPING OF CERTAIN PARKS AND RECREATION <br />FACILITIES; FOR THE PURCHASE AND INSTALLATION OF EQUIPMENT FOR <br />TRAFFIC CONTROL SYSTEMS; FOR THE CONSTRUCTION AND IMPROVEMENT <br />OF SCHOOL BUILDINGS; FOR THE PURCHASE OF CAPITAL EQUIPMENT AND <br />FACILITIES FOR PUBLIC TRANSPORTATION SYSTEM; FOR THE PURCHASE <br />OF FIRE PROTECTION EQUIPMENT; AND FOR DREDGING AND REPAIRS TO <br />BULKHEADS; AND MAKING PROVISION FOR THE FORM OF SAID BONDS AND <br />FOR THE PAYMENT THEREOF~ <br /> <br /> WHEREASw it is necessary to provide funds for urban <br />renewal purposes; for the acquisition of land; for the con- <br />struction~ improvements and repairs of public buildings and <br />facilities; for the construction of curbs, gutters and drainage <br />facilities, street, highway and bridge improvements; for the <br />construction and equipping of certain parks and recreation fac- <br />ilities; for the purchase and installation of equipment for traffic <br />control systems; for the construction and improvement of <br />school buildings; for the purchase of capital equipment and <br />facilities for public transportation system; fox the purchase <br />of fire protection equipment~ and for dredging and repairs <br />to bulkheads; at an estimated cost of Ten Million Dollars <br />($10,000,OO0o); and <br /> <br /> WHEREAS~ there are no funds in the treasury of the <br />City of Portsmouth applicable to the payment of the cost of <br />said improvementsr and it is accordingly necessary to issue <br />bonds of the City in the sum of Ten Million Dollars ($10,0OO,000.) <br />for the aforesaid purposes to provide for the form of said bonds <br />and for the payment thereof. <br /> <br /> NOWt THEREFORE~ BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia: <br /> <br />Section 1o For the purpose of providing funds for urban renewal <br />purposes; for the acquisition of land; for the constru.ction, <br />improvements, and repairs of public buildings and facilities; <br />for the construction of curbs, gutters and drainage facilities, <br />street, highway and bridge improvements; for the construction <br />and equipping of certain parks and recreation facilities; for <br />the purchase and installation of equipment for traffic control <br />systems; for the construction and improvement of school buildings; <br />for the purchase of capital equipment and facilities for public <br /> <br /> <br />