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A RESOLUTION ENDOESING THE STATE'S $81,000~,000.00 BOND ISSUE AND~URGING <br />-']X-{E VO'J.'EF, S OF PORTSMOUTH TO APPROVE THE ISSUANCE OF SAID BONDS. <br /> <br /> WHERF~S, the GeneralAssemblyof Virginiaat its 1968 session <br />authorized the issuance of $81,000,000.00 bonds by the Conmonwealth <br />of Virginia, subject to the approval of the electorate at a referend~n <br />to beheld on November 5, 1968; and <br /> <br /> WHEREAS, $13,770,000.00 of the proceeds from the sale of said <br />bonds will be used for the improvement and expansion of mental hospitals, <br />and the r~ $67.230.000.00 of the proceeds will be usedsim~l~rly <br />for institutions of higher learning; and <br /> <br /> ~WHEREAS, both purposes for which the bonds are to be issued are <br />~ortant to the continued growth and development of the economy of <br />Virginia; and <br /> <br /> WHerEAS, the availability of state funds for other vital projects, <br />such as port development, are contingent upon the issuance of saidbonds: <br /> .___N0!g,_THEHEFOHE, BE ITRESOLVED~by_the..Council of~he ~ity of <br />Portsmouth, Virginia, that it hereby endorses the State's $81,000,000.00 <br />bond issue and strongly urges all of the voters of Portsmouth to approve <br />~he issuance of these bonds by voting "yes" on November 5, 1968. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, at a <br />meeting held on October 22, 1968. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />