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A~I ORDINANCE TO AUTHORIZE THE ISSUANCE OF EIGHT MILLION TWO
<br />HUNDRED THOUSAND DOLLARS OF BONDS TO BE ~0~ AS PORT IMPROVE-
<br />MENT BONDS FOR THE PURPOSE OF ACQUIRING PORT IMPROVEMENTS AND
<br />CONSTRUCTING ADDITIONAL PORT I~PROVEMENTS, PURSUANT TO SECTION
<br />127 CLAUSE (B), OF THE CONSTITUTION OF VIRGINIA, AND CHAPTER
<br />5 OF TITLE 15.1 OF THE CODE OF VIRGINIA, 1950.
<br />
<br /> WHEREAS, the City is authorized
<br />reconstruct, improve, extend, enlarge and
<br />harbors and sea walls; and
<br />
<br />to acquire, construct,
<br />equip wharves, docks,
<br />
<br /> WHEREAS, such wharves,
<br />shall constitute an undertaking
<br />a revenue; and
<br />
<br />docks, harbors and sea walls
<br />from which the City may derive
<br />
<br /> WHEREAS, the City of Portsmouth is authorized
<br />quire, construct, reconstruct, improve, extend, enlarge
<br />such wharves, docks, harbors and sea walls; and
<br />
<br />to ac-
<br />and equip
<br />
<br /> ~*~EREAS, the City of Portsmouth is authorized under
<br />and by virtue of Section 127, Clause (b), of the Constitution
<br />of Virginia, and Chapter 5 of Title 15.1 of the Code of Vir-
<br />ginia, 1950, to issue so many bonds as may be necessary to
<br />acquire, construct, reconstruct, improve, extend, enlarge and
<br />equip such wharves, docks, harbors and sea walls; and
<br />
<br /> WHEREAS, it is necessary and expedient to acquire
<br />certain port improvements and to construct additional port im-
<br />provements to constitute a revenue producing undertaking and
<br />to borrow for that purpose the sum of Eight Million ~vo H~dred
<br />Thousand Dollars and to issue bonds therefor; ~nd
<br />
<br /> WHEREAS, Section 127, Clause (b), of the Constitution
<br />of Virginia, requires the ordinance authorizing the issuance of
<br />such bonds to be approved by the affirmative vote of the majority
<br />of the qualified voters of the City voting upon the question of
<br />their issuance at the general election next succeeding the en-
<br />actment of the ordinance, or at a special election held for that
<br />purpose;
<br />
<br /> NOW, THEREFORE, BE IT ORDAINED by the Council of the
<br />City of Portsmouth, Virginia, that:
<br />
<br /> Section 1. (a) Pursuant to Section ~27, Clause (b),
<br />of the Constitution of Virginia, and Chapter 5 of Title 15.1
<br />of the Code of Virginia, 1950, in order to acquire certain port
<br />improvements and %o construct certain additional port improve-
<br />ments, which shall constitute a revenue producing undertaking
<br />
<br />
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