|
148
<br />
<br />June 24, 1975
<br />
<br /> 75-256 "Consideration of a resolution authorizing the issuance of $576,794 of General
<br />Obligation Bonds for projects which have beenypreviously approved by the City Council.
<br />
<br /> This resolution authorizes the issuance of bonds for capital projects previously
<br />authorized in the categories of urban renewal, streets and highways, improvements and con-
<br />structionoof public buildings, and capital outlay in the area of public transportation.
<br />This authorization will be ~ombin~t wi~h -p~e~i,u~anthorization and issuance of the bonds will
<br />be accomplished during fiscal year 1975-76. The City Manager recommends adoption."
<br />
<br /> On motion of gr. Oast and seconded by Mr. Early, the following resolution was adopted,
<br />and by the following vote:
<br />
<br /> "A RESOLUTION AUTHORIZING THE ISSUANCE OF $576,794. OF BONDS OF THE CITY OF
<br /> PORTSMOUTH, VIRGINIA, TO BE KNOWN AS GENERAL OBLIGATION BONDS FOR THE PURPOSE
<br /> OF PROVIDING FUNDS FOR THE FOLLOWING PROJECTS; OLDE TOWNE CONSERVATION, INDUS-
<br /> TRIAL ACCESS ROAD, DEVELOPMENT OF CHURCHLAND PARK, CITY INCINERATOR ENGINEER-
<br /> ING STUDIES, CITY GARAGE OIL STORAGE BUILDING, PINNERS POINT LAND-USE STUDY,
<br /> PUBLIC BUILDINGS, URBAN TRANSPORTATION AND PUBLIC SAFETY, RENOVATION OF HARRY
<br /> HUNT JUNIOR HIGH, TDTC CAPITAL IMPROVEMENTS PROGRAM, AND VO~ING MACHINE STORAGE
<br /> BUILDING, ALL OF WHICH PROJECTS HAVE BEEN PREVIOUSLY APPROVED BY THE CITY COUNCIL.
<br /> · arlOU ro
<br /> WHEREAS, it is necessary for the City of Portsmouth to provide funds for the v ' s p
<br />jects hereinafter set forth which have been previously appyoved; and
<br />
<br /> h~BREAS, there are no funds in the treasury of the City of Portsmouth applicable to
<br />the payment of the said expenses and the cost ~f said projects and,it.is, accordingly, necessary
<br />to issue bonds of the City in the sum of Five Hundred Seventy~-six Thousand, Seven Hundred
<br />Ninety-four ($576,794.) Dollars for that purpose.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia:
<br />
<br /> 1. The Council of the City of Portsmouth, Virginia, authorizes-the issuance of Five
<br />Hundred Seventy-six Thousand, Seven Hundred Ninety-four ($S76,794.~ Dollars of bonds of the
<br />City of Portsmouth, Virginia, to be known as general obligation bonds pursuant to the provisio~ts
<br />of Chapter 5 of Title 15.1 of the Code of Virginia, 19SO, and other provisions of law appli-
<br />cable thereto. Such bonds shall be serial bonds and shall be issued at one time and shall
<br />be in such form and of such denomination as the Council shall direct. Each issue shall be
<br />payable not exceeding forty (40) years from its date and said bonds shall bear interest at
<br />a rate or rates to be hereafter determined by the Council upon the sale of said bonds, providi~tg
<br />that the maximum rate of interest shall not exceed the maximum rare of interest authorized
<br />by the law at the time of the sale of said bonds.
<br />
<br /> 2. Such bonds shall be issued for the purpose of providing funds for the following
<br /> projects: Olde Towne Conservation, Industrial Access Road, Development of Churchland Park,
<br /> City Incin~ra~t~Fmg&neering studies, City garage oil storage building, Pinners Point Land-
<br /> Use Study, public buildings, urban transportation and public safety, renovation of Harry
<br /> Hunt Junior High, TDTC Capital Improvements Program, and voting machine storage building,
<br /> all of which projects have been previously approved by the City Council.
<br />
<br /> $. This resolution shall take effect from its passage."
<br />
<br /> Ayes: Barnes, Early, Eltiott, Holley, Oast, Wentz, Davis
<br /> Nays: None
<br />
<br /> 75-257 - "Consideration of a resolution opposing the transfer of the administration of
<br />the "701 Program" from the HUD area office in Richmond, Virginia to the BUD regional office
<br />in Philadelphia, Pennsylvania.
<br />
<br /> This resolution outlines the Council's objection to an administrative decision by the
<br />Department of Housing and Urban Development to reallocate the responsibility for funding
<br />and administering the "701 Program" from the HUD area office in,Richmond to the regional
<br />office in Philadelphia. The City Manager recommends adop~idn."
<br />
<br /> On motion of Mr. Barnes and seconded by Mr. Early, the following resolution was adopted,
<br />and by the following ~ote:
<br />
<br /> "A RESOLUTION OPPOSING THE TRANSFER OF ADMINISTRATION OF THE "701 PROGRJhM" FROM THE
<br /> HUD AREA OFFICE IN RICHMOND, VIRGINIA, TO THE HUD REGIONAL OFFICE IN PHILADELPHIA,
<br /> PENNSYLVANIA.
<br />
<br /> WHEREAS, the City of Portsmouth and the HUD area office
<br />worked closely and effectively on a variety of matters; and
<br />
<br />in Richmond, Virginia, have
<br />
<br /> W}IEREAS, the transfer of the administration of the "701 Program" from the HUD area
<br />office in Richmond, Virginia, to the HUD regional office in Philadelphia, Pennsylvania, will
<br />cause unnecessary time delays as well as unnecessary communication and travel hardships result
<br />ing in a disrupted program administration.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia,
<br />that it opposes the transfer of administration of the "701 Program" from the HUD area office
<br />in Richmond, Virginia, to the HUD regional office in Philadelphia,, Pennsylvania.
<br />
<br /> BE IT FURTHER RESOLVED that the City Clerk is hereby authorized and directed to prepare
<br />certified copies of this resolution and to forward same to proper authorities."
<br />
<br />
<br />
|