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A RESOLUTION TO AUTHORIZE THE ISSUANCE OF ONE MILLION DOLLARS OF BONDS TO BE KNOWN AS UTILITY BONDS, FOR THE PURPOSE OF MAKING II~ROVEMENTS~ EXTENSIONS AND ADDITIONS TO. THE REVENUE PRODUCING UNDERTAKING-OF THE CITY CONSISTING OF ITS COMBINED WATER, SEWER, AND SEWAGE DISPOSAL SYSTEMS, PURSUANT TO SECTION 127, CLAUSE (B), OF THE CONSTITUTION OF VIRGINIA, AND CHAPTER 5 OF TITLE 15.1 OF THE CODE OF VIRGINIA, 1950, AND UNDER AUTHORITY OF THE VOTE OF THE QUALIFIED VOTERS OF THE CITY OF PORTSMOUTH AT AN ELECTION HELD ON THE FIFTH DAY OF NOVEMBER, 1968~ AND MAKING PROVISION FOR THE FORM OF SAID BONDS AND FOR THE PAYMENT THEREOF. WHEREAS, the City of Portsmouth is authorized to establish or enlarge its revenue producing undertaking consisting of its combined water~ sewer, and sewage disposal systems, and it is necessary and expedient to make certain improvements, extensions and additions to such revenue producing undertaking and to issue bonds of the City ~n the sum of One Million Dellars for that purpose~ and WHEREAS, under and by virtue of Chapter 5 of Title 15.1 of the Code of Virginia, 1950, the Council of any city in this State which is authorized to acquire, maintain or establish a revenue producing undertaking consistin~ of water, sewer and sewage disposal systems~ or other specific undertaking from which the City may derive a revenue, may, in accordance with Sectiom One Hundred and Twenty-seven, Clause (b)~ of the Constitution of Virginia, ismue so many bonds as may be necessary to acquire~ maintain or establish such revenue producing undertaking, or other specific undertaking; and ~EREAS, Section One Hundred and Twenty-seven~ Clause (b), of the Constitution of Virginia, requires the ordinance authorizing the issuance of such bonds to be°approved by the affirmative vote of the majority of the qualified voters of the City voting upon the question of their issuance at the general election next succeeding ~the enactment of the ordinance, or at-a special election held for that purpose~ and WHEREAS, by virtue of an ordinance adopted by the Council of the City of Portsmouth on the eighth day of Ootober, 1968~ entitled, "A~ ORDINANCE TO AUTHORIZE THE ISSUANCE OF TWO MILLION FIVE Hb~DRED THOUSAND DOLLARS OF BONDS TO BE KNOWN AS UTILITY BONDS~ FOR THE PUR- POSE OF ~KING IMPROVEMENTS, EXTENSIONS AND ADDITIONS TO THE RE~NUE PRODUCING UNDERTAKING OF THE CITY, CONSISTING OF ITS WATER, SEWER, AND SE~[AGE DISPOSAL S¥STEMS~ PURSUANT TO SECTION ONE HUNDRED AND TWENTY-SEVEN, CLAUSE (b) OF THE CONSTITUTION OF VIRGINIA, AND CHAPTER 5 OF TITLE t~.1 OF THE CODE OF VIRGINIA, 1950~ the Court of Hustings for the City of Portsmouth, by an order entered on the eleventh day of October, 1968, directed that there ~ submitted to the ~ualified voters of the City of Portsmouth at an election to be held-on the fifth day of'November~ 1968, the question whether the~-Two Million Five Hundred Thousand Dollars of bonds authorized by the said ordinance should be issued; and