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<br />The proceeds from the sale of the General Obligation Notes <br /> <br /> <br />shall be used (i) to finance, in whole or in part, the costs of <br /> <br /> <br />various capital improvements, including but not limited to a <br /> <br />new courts complex, the existing courts building and the costs <br /> <br />related to the temporary relocation of the courts; and (ii) to pay <br /> <br />the costs of issuing such General Obligation Notes. <br /> <br />3. Amendment to Section 20 of the Authorizing Ordinance. Section 20 of <br /> <br />the Authorizing Ordinance is amended and restated to read as follows: <br /> <br />20. Effective Date; Applicable Law. In accordance with <br /> <br /> <br />Section 15.2-2601 of the Public Finance Act of 1991, Chapter <br /> <br /> <br />26, Title 15.2, 1950 Code of Virginia, as amended, (the "Act"), <br /> <br /> <br />the City Council elects to issue the Bonds and the Notes <br /> <br /> <br />pursuant to the provisions of the Act. This Ordinance shall <br /> <br />take effect immediately upon its adoption. <br /> <br />4. Filing of Ordinance. The appropriate officers or agents of the City are <br /> <br />authorized and directed to file or cause to be filed a certified copy of this Ordinance with <br /> <br />the Circuit Court of the City of Portsmouth pursuant to Sections 15.2-2607 and 15.2-2627 <br /> <br />ofthe Code of Virginia, as amended. <br /> <br />5. Ratification of Authorizing Ordinance. Except to the extent amended <br /> <br />herein, the Authorizing Ordinance is ratified and remains in full force and effect. <br />