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A ~SOLUTION ALTTBORIZIi-~G T~ ISSUANCE OF FOUR MILLION FIVE iuTJ~DR~ THOUSAND DOLI~ARS ($4,500,000) GENEP~AL OBLIGATION .BONDS OF Ti~ CITY OF' PORTSMOUTH, VIRGINiA~ FOR Tb~ PURPOSE OF PROVIDING FUNDS FOR URBAN RENEWAL PURPOSES; FOR THE ACQUISITION OF STRUCTION OF PUBLIC BUILDINGS THEF~EOI~; FOR T-~ CONSTRUCTION OF CURBS, GUTTERS A/~D DRAINAGE FACILITIES, STREET AND HIGI~[AY I2-~- PROVe. LENTS; FOR TPnE CONStRUCTiON AND EQUIPPING OF CERTAIN PARKS ~%~D RECREATIOI~ FACILITIES; FOR TP,~. PURCP-ASE AND INSTALLATION OF EQUIP~[T FOR TPJLEFIC CONTROL SYSTEi4S; FOR THE REPAIR OF %~STE DISPOSAL FACILITIES; AND FOR THE PURC~LASuE OF SCBQOL BUSES', MOBILE CLASSROOi4S At~~D THE CONSTRUCTION OF SCHOOL BUILDII~S; A~,~D PROVISION FOR T~LE FO~ OF SAID BO~DS AND. FOR TbiE PAY~ENT WHEREAS, Lt is necessary'to provide funds for urban tenets! puposes~; for the acquisition-or-land and %he construction of public buildings thereon; for the construction of curbs, gutters a~d drainage facilities, street and highway. L~prover~ents; for the construction and equipping of certain parks and recreation facili- ties; for the purchase and insta!lation of equipment for traffic control systems; for the repair of waste disposal facilities; and for the purchase of school buses, mobile classrooms and the con- struction of school buildings; and making provision for the for~ - of said bonds am~ for the palrr~ent thereof at an estimated cos~ of Four Million Five Hundred Thousand Dollars ($~,500,000); and ~fHEREAS there are no funds in the treasur~ of the City of Portsmouth applicable to the paym...ent oz tt.e cost of ~am~ im- provements, aha it is accordingly necessary to mssue b~nam City in the s~ of Four Million Five Hundred Thousand Dollars ($4,500~000) for the aforesaid purposes. :.. - _z 5CIT~ OF PORTS~I3TH, VIRGi~iA: ........... ~ection ;i~; Rorthe ,purpose mf'pro~idi~g~funds fomt3arban rene=~ai~;~:' purposes; for theacquisition of iand~and the construction of public buildings thereon; for the construction of curbs, gutters and drain- age facilities, street and highway improvements; for the construction and equipping of certain parks and recreation facilities; for the purchase and installation of equipment for traffic control systems; for the repair of waste disposal facilities; and for the purchase of school buses, mobile classrooms and the construction of school buildings; there shall be issued Four Million Five Hundred Thou- sand Dollars of bonds of said City to be ~nown as G~nera! Obli- gation Bonds, consisting of nine hundred bonds of the denomi- nation of Five Thousand Dollars each, numbere~ i to 900, both in- c!usive, dated December i, !973, and bearing interest from date