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324
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<br />M~ch 9% lqTfi
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<br /> 76-119 - "Consideration of an ordinance amending the City Code pertaining to sewer line
<br />connections.
<br /> This amendment is necessary to delete reference to the old Southern Builddng Code and
<br />incorporate a section of the BOCA Code which has been recently adopted by the City pursuant
<br />State mandate pertainin'g to sewer connections. The City Manager.recommends adoption."
<br /> On motion of Mr. Barnes and seconded by Mr. Oast, the following ordinance was adopted on
<br />first and final reading, and by the following vote:
<br />
<br />"AN ORDINANCE TO A~END THE CODE
<br />AMENDING SECTION 38-82 THEREOF,
<br />
<br />Ayes: Barnes, Early,
<br />Nays: None
<br />
<br />OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973, BY
<br />PERTAINING TO SEWER LINE CONNECTION FEES."
<br />
<br />Elliott, Holley, Oast, Wentz, Davis
<br />
<br /> 76-120 "Consideration of
<br />Obligation Bonds.
<br />
<br />tO
<br />
<br />a resolution authorizing the issuance of $1,128,243 in General
<br />
<br /> This resolution authorizes the issuance of bonds for projects which have previously been
<br />appropriated and includes West Norfolk Bridge, Churchland Primary, repairs of Harry Hunt Junio
<br />High, and £hurchland Park. Previously authorized and unissued bonds total $6,092,438. This
<br />authorization will bring the total authorized and unissued General Obligation Bonds to $7,220,
<br />681. The total amount allocated for the 2-year period of 1974-76 is $10.5 million. The City
<br />
<br />Manager recommends adoption."
<br />
<br /> On motion of Mr. Early and seconded by Mr. Wentz, the
<br />and by the following vote:
<br />
<br /> "A RESOLUTION AUTHORIZING THE ISSUANCE OF $1,128,243.
<br />
<br />following resolution was adopted,
<br />OF BONDS OF THE CITY
<br />
<br />OF PORTSMOUTH, VIRGINIA, TO BE KNOWN~ AS GENERAL OBLIGATION BONDS FOR THE
<br />PURPOSE OF EDUCATION~ PARKS AND RECREATION, STREETS AND HIGHWAYS AND DRAINAGE
<br />IMPROVEMENTS.
<br />
<br /> WHEREAS, it is necessary for the City of Portsmouth to provide funds for the projects
<br />hereinafter set forth; and
<br />
<br /> WHEREAS, there are no funds in the Treasury of the City of Portsmouth applicable
<br />to the payment of said expenses and the cost of said projects and it is, accordingly,
<br />necessary to issue bonds of the City of Portsmouth in the sum of One Million, One Hundred
<br />Twenty-eight Thousand, Two Hundred Forty-three and 00/100 ($1,128,243.) Dollars for those
<br />purposes.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia:
<br />
<br /> 1. For the purpose of education, parks and recreation, streets and highways and drainage
<br />improvements, there shall be issued One Million, One Hundred Twenty-eight Thousand, Two Hund-
<br />red Forty-three and 00/100 ($1,128,243.) Dollars of bonds of the City of Portsmouth to be
<br />known as General Obligation Bonds pursuant to the provisions of Chapter S of Title 15.1 of
<br />the Code of Virginia, 19S0, as amended, and provisions of law applicable thereto. The said
<br />bonds~shall be Serial Bonds and shall be issued at one time and shall be in such form and
<br />of such denomination as the Council shall direct. Each issue shall be payable not exceeding
<br />Forty (40) years from its date, and said bonds shall bear interest at a rate or rates to be
<br />hereinafter determined by the Council upon the sale of said bonds, providing that the maximum
<br />rate of interest shall not exceed the maximum rate of interest authorized by law at the time
<br />of the sale of said bonds.
<br />
<br />2. This resolution shall take effect from the date of its passage."
<br />
<br />Ayes: Barnes, Early, Elliott, Holley, Oast, Wentz, Davis
<br />Nays: None
<br />
<br /> 76-121 "Consideration of a resolulion authorizing the City Manager to advertise and
<br />receive bids for City-owned property situated at Hyman Street and Industrial Access Road.
<br />
<br /> This advertisement is necessary in order to exchange property to relocate Hyman Street
<br />and acquire the necessary right-of-way for the continuationoof the Industrial Access Road.
<br />The City Manager recommends adoption."
<br />
<br /> On motion of Mr. Barnes and seconded by Mr. Oast, the following mesolution was adopted,
<br />and by the following vote:
<br />
<br />side
<br />
<br />"A RESOLUTION AUTHORIZING THE CITY ~,~NAGER TO ADVERTISE AND RECEIVE BIDS FOR
<br />CERTAIN CITY~WNED PROPERTY (RESIDUAL PARCEL OF HYMAN STREET AND INDUSTRIAL
<br />ACCESS ROAD).
<br />
<br />WHEREAS, the City of Portsmouth currently owns a parcel of land located on the north
<br />of Industrial Access Road and Interstate 264; and
<br />
<br /> WHEREAS, the parcel is a residual parcel of land which will not be utilized in the construcL
<br />tion of Industrial Access Road or the improvements for Hyman Street; and
<br />
<br /> ~EREAS, the City of Portsmouth has no further need for said parcel and it is, therefore,
<br />surplus property; and
<br />
<br />WHEREAS, the parcel of property is more fully described as follows:
<br />
<br />
<br />
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