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A RESOLUTION TO AUTHORIZE THE ISSUANCE OF ONE ~rTLTON SIX }fJSDRSD THOUSAND
<br />DOLLARS OF BONDS TO BE KNOWN ~£ WAT~ BONOS, FOR THE PURPOSE OF MAKING
<br />IMP~S, E~I'~SIONS AND ADDITIONS TO THE SYST~! OF WATEH WORKS OF THE
<br />CITY, PURSUANT TO SECTION 127, CLAUSE (B), OF Ti~'E CON~'±'±TOTION OF VIRGI$UiA
<br />AND CHAP±'~i~. 5 OF TITLE 15.1 OF THE CODE OF VIRGINIA, 1950, AND UNDER AIYTHORITY
<br />OF THE VOTE OF THE QUALLS'~,;t) 5YY±'~dS OF THE CITY OF FORTSMOUTH AND AN FLECTION
<br />HELD ON THE SEVENTH DAY OF NOVI~ER, 1961, AND M3IKING PROVISION FOR THE FOt~ri
<br />OF.SA]ID BONDS AND FOR THE PAYM~iNT THEREOF.
<br />
<br /> WHEREAS, the City of Portsmouth is authorized to establish or
<br />enlarge water works, and under and by virtue of Chapter 5 of Title t5.1 of
<br />the Code of Virginia, 1950, the Council of any city in this State which is
<br />authorized to acquire, construct, recor~struct, improve, extend or enlsa~ge
<br />any revenue producing umderts_king, my, in.accordance with Section One.
<br />Hundred and Twenty-seven, Clause (b), of the Constitution of Virgihia,
<br />issue so many bonds as may ~ necessary to acquire, construct, reconstruct,
<br />improve, extend or enlarge any revenue producing undertaking; and
<br />
<br /> W}{EFF_~S, it is necessary and expedie~, t to m~ke certain in~rove-
<br />ments, extensions and additions to the system of water works of the City
<br />of Ports_mouth and to issue bonds of the City in the sum of One Million
<br />Six Hundred ThOusand Dollars for that purpose; and
<br />
<br /> WHEREAS, Section One Hundred and Twenty-seven~ Clause (b), of the
<br />Constitution of Virginia, requires the ordinance authorizing the issuance of
<br />such bonds to be a_~oroved by the affirmative vote of the majority of the
<br />qualified voters of the City voting upon the question of their issuance; at
<br />the general election next succeeding the enactment of the ordinance, or at
<br />a special election held for that purpose; and
<br />
<br /> WHEREAS, by virtue of an ordin~unce adopted by the Council of the
<br />Ci~t~. of Portsmouth ?n the seventeenth day of October, 1961, entitled, "An.
<br />Ordinance to Authormze the Issuance of Five 5~tlion Six Hundred Thousand
<br />Dollars of Bonds to be Known as Water Bonds, for the Ptu~pose of Fhn/cing
<br />Improvements, Extensions and Additions tothe System of Water Works of the
<br />City, Pumsuant to Section One Hundred and ~enty-seven, Clause B, of the
<br />Constitution of Virginia, and ~napter 19.1 of Title 15 of tho Cede of
<br />Virgirla, 1950", the Court of Hustings for the City of Portsmouth, by an
<br />order entered on the eio~hteenth day of October, !961,~ directed that there
<br />be submitted to the qualified voters of the City of Portsmouth at ~
<br />election to be held on the seventh day of November, 1961, the question
<br />whether the bonds authorized by the said ordinance should be issued; and
<br />
<br /> WHEREAS, by another order entered by the said Court on the twenty-
<br />seventh day of November, 1961, it was entered of record as a result of said
<br />election t_hat a mz~jority of the vot es were dast for The bond issue, and that
<br />the Council of the City of PortsmDuth be fully authorized and en~.owered to
<br />prepame and issue ~nd to sell or to negotiate said bor~s upon the Faith
<br />czL=dit and property of said mtmicipa!ity in ~ne mmoum~ so authorized; and
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