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A RESOLUTION TO AUTHORIZE THE ISSUANCE OF ONE MILLION SIX HUNDRED THOUSAND DOLL~.RS OF BONDS TO BE KNOWN AS WATER BONDS, FOR THE PURPOSE OF MAKING IMPROVEMENTS, EXTENSIONS AND ADDITIONS TO THE SYSTEM OF WATER WORKS OF THE CITY~ 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 QUAL- IFIED VOTERS-OF THE CITY OF PORTSMOUTH AT~ AN' ELECTION HELD ON THE SEVENTH DAY OF NOVEMBER, 1961, AND ['~ZgKING PROVISION FOR THE FORM OF .SAID BONDS AND FOR THE PAYMENT THEREOF. WHEREAS, the City of Portsmouth is authorized to estab- 'lish or. enlarge water works, and it is necessary and expedient to make certain improvements~ extensions and additions to the system of water works of the City of Portsmouth and to issue bonds of the City in the sum of One Million Six Hundred Thousand Dcllars for that purpose; and ~ ~HEREAS, 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, construct, reconstruct, improve, extend or enlarge any revenue producing undertaking, may in accor- dance with Section One Hundred and Twenty-seven, Clause Ih), of the Constitution of Virginia, issue so many bonds as may be n~cessary to acquire, construct, reconstruct, improve, extend or enlarge any revenue producing undertaking;, and WHEREAS, Section One Hmndred 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 quaiified 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 ad~pted by the Council of the City of Portsmouth on the seventeenth day of October, 1961, entitled: "AN ORDINANCE TO AUTHORIZE THE ISSUANCE OF FIVE MILLION SIX HUNDRED THOUSAND DOLLARS OF BONDS TO BE KNOWN AS WATER BONDS, FOR THE PURPOSE OF MAKING IMPROVEMENTS, EXTENSIONS AND ADDITIONS TO THE SYSTEM OF WATER WORKS OF THE CITY, PURSUANT TO SECTION ONE HUNDRED AND TWENTY-SEVEN, CLAUSE B, OF THE CONSTITUTION OF VIRGINIA, ~ND CHAPTER 19.1 OF TITLE 15 OF THE CODE OF VIRGINIA, 1950", the Court of Hustings for the City of Portsmouth, by an order entered on the eighteenth day of October, 1961, directed that there be sub- mitred to the qualified voters of the City of Portsmont~ at an elec- tion to be held on the seventh day of November, 1961, the question whether the bends in the amount of Five Million Six Hundred Thousand Dcllars authorized by the said ordinance should be issu-e~$~-~and