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<br />portion of the costs of the City's new courts complex in anticipation of future long-term <br /> <br /> <br />financing by the City; and <br /> <br /> <br />WHEREAS, the City has determined it is advisable to amend the Authorizing <br /> <br /> <br />Ordinance to provide for the issuance of the Series 2006C Notes to finance, in whole or <br /> <br /> <br />in part, the costs of various capital improvements, including but not limited to a new <br /> <br />courts complex, the existing courts building, and the costs related to the temporary <br /> <br />relocation of the courts. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia, that: <br />I. Amendment to the Recitals of the Authorizing Ordinance. The seventh <br /> <br />WHEREAS clause of the Authorizing Ordinance is amended and restated to read as <br /> <br />follows <br /> <br />WHEREAS, the City has determined it is advisable to issue <br /> <br /> <br />and sell General Obligation Notes of the City (the "General <br /> <br /> <br />Obligation Notes" or the "Series 2006C Notes") for the purpose <br /> <br />of financing, in whole or in part, the costs of various capital <br /> <br />improvements, including but not limited to a new courts <br /> <br />complex, the existing courts building, and the costs related to <br /> <br />the temporary relocation of the courts; and to pay the costs of <br /> <br />issuing such General Obligation Notes; and <br /> <br />2. Amendment to Section I of the Authorizing Ordinance. The last sentence <br /> <br />of the first paragraph of Section I of the Authorizing Ordinance entitled "Authorization <br /> <br />of Bonds and Notes and Use of Proceeds" is amended and restated to read as follows: <br />