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A RESOLL~ION AUTHORIZ1-NG ~E ISSU~'~CE OF EIG~f M~LLION ($8,000,000.00)
<br />EO~r~RS OF BOR~S OF 1I..~i~ CITY OF PORTSMOUTH, VIRGINIA, TO BE ~0PfN AS
<br />G~ OBLIGATION BO~CDS, FOR THE PURPOSE OF PRO¥~H)iN~ FU~])S TO C0!~LY
<br />'WITH ~HE ORDF~R m~'±'~wjED i2~ I~ CIRCUIT COURT OF %~HE CITY OF CHUESAPEAY~
<br />VV_RGINIA, ON OCTO'f~,- 2~ 1967, A~R~ING C~RTAIN TEPi~TORY TO ~HE CITY OF
<br />PORTSMOO_m~H ~'~'~CTIVE J.~XYdA_RY 1, 1968; TO PAY %HE ~XP~SES INCUPYd~D AS A
<br />RESULT OF %~E REC~\~f AL.~'E~(ATION PROCF~INGS; A~ TO PO~CKgSE FiRE EQUIP-
<br />9~/~T, S0-HOOL BUSES B~ VOTinG MACHIneS POR USE IN ~HE SAID A~qNE~
<br />i~TORY~ AN~) ~.I&KIiqG PROVI~ION FOR ~ ~-lO~ 0P SAID BONDS A/~D FOR
<br /> PA ~:,~T THEREOF. /
<br /> W~E~S, by Ordi~mee! ~o.~ 1967-9~, adopted O~tober 10, 1967,
<br /> the City of Portsmouth was authorized ~o issue $7~00,000.00 off General
<br /> Obligation Bonds flor ~h~ p~ose of p~ovi~ ff~uds ~o co~l~ v~h
<br /> o~e~ enSe~ed in ~he C~¢~i~ Co~.~ff She.Ci~ off Chesa~e~e, Vi~gi~a,
<br /> on Oo$obe~ 2, !967,' ~uexi~ certain ~e~ito~ ~o She Ci~ o~ Por~smouSh
<br /> effffeo~ive J~ l~ 19~ and
<br />
<br /> WHEP~&S; by Ordi~
<br />City of Ports_mouth was-autk
<br />Obligation Bonds for the po
<br />incurred as a result of the
<br />fire equipment, school buse
<br />annexed territory; and
<br />
<br /> WH~REA. S, the bond
<br />not been issued or sold; ar
<br />
<br /> WHi~, it is ne
<br />of Eight Million ($8,000,0£
<br />
<br /> NOW, ~r~EP~RE,
<br />PORTS~©UI~H, VIRGINIA:
<br />
<br /> Section 1. Tha~
<br />with the order entered in t
<br />Virgimia, on October 2, 19~
<br />Portsmouth effective Janu~x
<br />result of the recent ammexs
<br />ment, school buses and vot~
<br />there s,hall be issued Eight
<br />knovmas General Obligatior
<br />
<br />mace No. 1968-20, adopted ~Lmrch 26, 1968, the
<br />prized to issue $600,000.00 of Gener~af[
<br />¢pose of providim~ funds to pay the expenses
<br />recent armexation proceedings and to purchase
<br />and votim~.macbines for use in ~ne said
<br />
<br />authorized by the aforesaid ordinances have
<br />
<br />3essa~y to issue bonds of the City in the sum
<br />3.00) Dollars for the aforesai~ purposes.
<br />
<br />IT R~OLVED BY T~ COU~CIL OF THE CITY OF
<br />
<br />sr the ptu~pose of providimg funds to co~ly
<br />ne Circuit Court of the City of Chesapeake,
<br />~, annexing~certain territory to the City of
<br />y 1~ 1968; ~o pay the expenses incurred as a
<br />tion p~o~d~r~s; ~nd to ' ~o~= ~ .... u~-
<br /> ...... pure .......... _ ~
<br />~qg machines for use in the said annexed territor~
<br /> M~ ilion Dollars of bonds of said City to be
<br /> Bonds~ consisting of one t~oussmd six h~n~red
<br />
<br />bonds of the denominatio, n o~ Five Tnousand Dollars each, n~m~bered 1 to
<br />1,600, both.inclusive, aate~ June 1, 1969, and bearing interest fro~ date
<br />payable semmarmually on Jtm~ 1~ and December I~ of each year at such rate
<br />or at such different or varyL~ rates, ,not to exceed six per centum per
<br />ann~um on any bond, as may b9 fixed by the City Council prior to theL~ .
<br />execution. Both principal ~nd interest of said bonds sbmll be payable mn
<br />tawl~u~ currency of the Ur_ired States of ~erica~ at ~ne Cb~se ~mr~aatt~n
<br />Bamk (National Association), New York, New York, and the said bonds sbmll
<br />rm~ture serially, in n'm~gericai order as folIovm:
<br />
<br />
<br />
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