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<br />" <br /> <br />authorized to take such actions as may be necessary or convenient for the acquisition of the <br /> <br />Vehicles, including without limitation submission of requests for proposals, acceptance of such <br /> <br />proposals, and payment for the Vehicles. <br />3. That it is the intent of the City to make certain expenditures in connection with <br /> <br />the acquisition of the Vehicles which the City reasonably expects to be reimbursed as permitted <br /> <br />by Section 1.150-2 of the regulations promulgated pursuant to the Internal Revenue Code of <br /> <br /> <br />1986, as amended, from the proceeds of one or more obligations issued to finance the acquisition <br /> <br /> <br />of the Vehicles. As of the date of this Ordinance, the maximum principal amount of obligations <br /> <br /> <br />to be issued is not expected to exceed $6,300,000, and the proceeds of such obligations shall be <br /> <br /> <br />used, in part, to restore the amount appropriated from the fund balance of the fiscal year 2010- <br /> <br /> <br />2011 City Garage Fund pursuant to paragraph 1 of this Ordinance. <br /> <br /> <br />4. That this Ordinance shall take effect on the date of its adoption.. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on <br />August 24, 2010. <br /> <br />Teste: <br /> <br />City Clerk <br />