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27 <br /> <br />A RESOLUTION AUTHORIZI,I[G T~[E ISSUA~[CE OF $1,349,173.00 OF <br />BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, TO BE KITO?? AS <br />GENEP~AL OBLIGATIOn[ BONDS FOR THE PURPOSE OF PROVIDING FU~[DS <br />FOR THE REPIJkCEMENT OF HEATING AND AIR CONDITION UNITS IN <br />THE PORTSMOUTH NAVAL MUSEUM; FOR EQUIPMENT A~D FURNISHII~GS <br />FOR SLEEPY HOLE PARK; FOR THE CONSTRUCTION OF DRAINAGE TO <br />TOWER ~ZALL~ FOR CARPET AND FOR CONT~RACT PAY~[ENTS FOR <br />HIGH SCHOOL; FOR THE WIDENING OF WILLETT DRIVE FROM HIGH <br />STREET TO WEST ROAD~ FOR FIliAL PAIq4ENTS DUE ON TIIE LONDON- <br />GLASGOW EXPRESSWAY (LONDON BOULEVARD); FOR T}IE CITY'S <br /> OF I~AND ACQUISITIOt] COSTS FOR THE PARKS AND CITIES FUDEPJIL <br /> GRANT: FOR REMODELING OF LA~%rREECE STADIUM, AND FOR CON- <br /> STRUCTION OF AN ADDITION TO TRUXTON SCHOOL. <br /> <br /> WHEREAS, it is necessary for the City of Portsmouth <br />to provide funds for the various projects as hereinafter set <br />forth; and <br /> <br /> ~'~EREAS, there are no funds in the Treasury of the <br />City of Portsmouth applicable to the payment of said expenses <br />and the costs of said projects and it is accordingly, neces- <br />sary to issue bonds of the City in the sum of One Million <br />Three Hundred Forty-nine Thousand One Hundred Seventy-three <br />and 00/100 ($1,349,I73.00) Dollars for that purpose. <br /> <br /> ~OW, THEREFORE, BE IT RESOLVED by the Council of <br />the City of Portsmouth, Virginma: <br /> <br />Section 1. For the purpose of providing funds for the re- <br />placement of heating and air condition units in the Ports- <br />mou~ Naval Museum; for equipment and furnishings for Sleepy <br />Hole Park; for the construction of drainage to Tower !4all; <br />for carpet and for contract payments for Manor High School; <br />for the widening of Willett Drive from High Street to West <br />Road; for final payments due on the London-Glasgow Express- <br />wa~ (London Boulevard)~ for the City's share of land acqui- <br />sition costs for the parks and cities Federal Grant; for re- <br />modeling of Lawrence Stadi~m, and for construction of an ad- <br />dition to Truxton school, there shall be issued One Million <br />Three Hundred Forty-nine Thousand One Hundred Seventy-three <br />and 00/100 ($1,349,173.00) Dollars of bonds of the City of <br />Portsmouth to be k~own as General Obligation Bonds ~ursuant <br />to the provisions of Chapter 5 of Title 15.1 of the Code of <br />Virginia, 1950, and other provisions of law applicable there- <br />to. The said bonds shall be serial bonds and shall be issued <br />at one tmme and shall be in such form and of such denomination <br />as the Council shall direct. Each issue shall ~e payable <br />not exceeding forty (40) years from its date and said bonds <br /> <br /> <br />