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A RESOLUTION AD~qO?~fZI2'~G ~n]E BORP~O~vfZNG OF ST,O00,000.00 - ~O~RY LO~ N~ OF the City of Po~smouth was authorized to issue 87,400~000.00 of General Obl~ation Bonds for the p~pose of provi~ ~nds c~p~ W_th tlne order e~e~ in the C~cuit Cou~ of the City of Onesape~e on Octobe~ 2, t9~7~ mmnexi~ ce~ te~ito~y to the City of Portsmouth effective J~y 1, 1968~ ~, the bo~s authorized by the ~oresaid o~d~ce ~ve ~ot been issued or sold; ~[~_a~, it is necessar~y to borrow, pendirg the issuance and sale of SUCh bonds~ tn~ money necessary to ~ ~ m~e~ the City's obligations in cormection with the purpose for which ~' ~ ' bonds were authorized. ~n~ sa~d NOW THEREFOi~E, BE ~ 'RESOL~fED by the Cotuncil of the City of Portsmouth, Virgir~ia: S~Ci70~,~ 1. Penamng the issusnce e~nd sale of the bonds authorized by Ordir~nce No. 1967-95, adopted October 10, 1967, full power ~nd authority is hereby given the City ~nager of the City of Port~aouth to prepare sand issue ~amDorary_ loan notes im the fozm hereinafter prescribed and for the smm of $7,000,000.00 i~ the sggregave. ~ne said City .~mger is authorized to cause to se printed on the back of each of said notes a copy of the c~nplete final legal opinion with respect to said notes , with the n~me of the attorney or attorneys renderi~ same, together with a cereifi- cation of tlne City Clerk, evidenced by the facsimile signature of t[~t officer~ to the effect that the copy is a r~ae an~ co?rect copy of the legal opinion ~n was dated as of the date of delivery and payment of the notes. Full power and authority is hereby given - the said City Manager to make sale of the said notes arid in such manner, a~ such t~me anm place, as ~ne sam~ Cm~y ~.~nager may d~erm~e; p_rovided however, that the same sb~il not be sold upon a basis which will cost the City of Portsmout~ interest at the rate of more than six per cent~, per amm'~n, mhd that no sale sh~ll be made without the approval of the City Cotuncit.