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71-15 - "_T submit the attached resolution ~Lnd reco~mm, end its adoption. 5his authorizes the issuance of
<br />C~neral Obligation Bonds in the a~mount of $353,964.
<br />
<br /> ?ne resolution covers appropriations requested tonight on the following c~tal projedts: the Olde Towne
<br />Conservation Project, Park View Conservation Project, storm sewers on Airline Boulevard, and the local costs in
<br />the federal grants on Urbsn Beautmficatlon, and the police conm~nications system.
<br />
<br /> It is not intended that the bond~ be issued at this time but this will allow ta~oorary financing for these
<br />projects."
<br />
<br />On motion of Mr. _qku~ner, the following resolution was adopted, and by the following vote:
<br />
<br />"A HESOLL~ION AUTHO~IZLNG ~qE ZSSUANCE OF $353,964.00 OF BO~S OF ~ CI~ OF PO~SMO~,
<br />~RGINIA, ~ BE ~G~ AS ~R~ ~GATION BO~, FOR ~ P~qE OF PRO~D~G ~S FOR
<br />~ CONS~CTIO~W OF STORM S~; FOR U~ BEATIFICATION; FOR ~T ~KF~; ~ND ~R ~
<br />P~ASE OF ~I0 EQ~_f~
<br />
<br /> }~2{REAS, it is necessary for the City of Portsmouth to provide funds for the construction of sto~ s~vers;
<br /> for urban beautification; for urban renewal; and for the p~mchase of radio equipment; and
<br />
<br /> l~Y~_~£, there are no funds in the treasury of the City of Portsmouth applicable to the patient ~f said
<br />expenses and the cost of said equipment, and it is accordingly necessary to issue bonds of the City in the sum
<br />of ..?nree Hundred Fifty-three Thousand Nine Hundred Sixty-fou~ and no/100 ($353,964.00) Dollars for that put-pose.
<br />
<br /> Ng~ ~ESEFOEE~ BE IT ~SOLVED BY T~ COUNCIL OF THE C~TTy OF PORTSMOUTH, \~NGINIA:
<br />
<br /> Section 1. For the purpose of providing funds for the construction of storm sewers; for ul~_n beautifi-
<br />cation; for urban renewal; and for the purchase of radio equipment, there shall be issued Three Hundred Fifty-
<br />three Thousand Nine Hundred and Sixty-four and no/100 ($~53,964.00) Dollars of bonds of the City of Portsmouth,
<br />to be kn~n as General Obligation Bonds, pursuant to the provisions of Chapter 5 of Title 15.1 of the Code of
<br />Virginia and other pro~_sions of law applicable thereto. The said bonds shall be serial bonds and shall be
<br />issued at one t~ or a prt thereof from time to time and shall be in such form and of such denomination as
<br />the Council shall direct. Each issue shall be payable not exceeding forty (4~) yes_~s fr~m its date, and said
<br />bonds shall bear interest a~ a rate or rates to be hereafter determined by the Council, upon the sale of said
<br />bonds, provided that the maximum.rate of interest shall not exceed the maximum rate of interest authorized by
<br />lawa~ tP~ time ~ the':sale ~f saidlboncIs.
<br />
<br />Section 2. This resolution shall take effect from its passage."
<br />
<br /> Ayes:
<br /> Nays:
<br />Abstaining:
<br />
<br />Holley, Johnson, King, Smith (R), TUrner, Barnes
<br />None
<br />Smith (Z)
<br />
<br /> 70-549 - The following ordinance, referred to conference at last meeting, was taken up snd read:
<br />
<br />~AN ORDINANCE TO A},~/~D SEOT!f~W 5-~0 OF ~ CODE OF T~ CITY OF PORTSMOUS~, 1961, RE~/ZSING THE
<br />SCHEDULE OF FAPES CHARGED PASSk~NGEP~q. ~{ !NT_~IURBA~ BUSES."
<br />
<br />On motion of ~. ~S~th (I) the ordinance was approved on first reading and by the foll~%ng ~ote:
<br />
<br /> Ayes: Johnson, King, Snf. th (I), Smith (R), Barnes
<br /> Nays: H~lley, Tu/~er
<br />
<br />~{otion of MP. Turner to amend the ordinance by deleting Section (a) (3) was lost and by the follo%~%ng vote:
<br />
<br /> Ayes: Holley, Turner
<br /> Nays: Johnson, King, Smith (I), Smith (R), Barnes
<br />
<br />70-552 - The following ordinance, approved on first reading at last meeting, was taken up and read:
<br />
<br />"AN ORDINANCE TO kPPROPRiA~E $1,515.00 FROM Tk~ ~2MERAL FU~D AS THE CITY'S SHARE OF TF~
<br />FUNDS FOR THE OPERATION OF THE I~V{BA~ 12 FOR SIX MCNTF~."
<br />
<br />On motion of MP. Smith (R) the ordinsnce ws~s adopted and by the follo~%ng vote:
<br />
<br /> Ayes: Holley, Johnson, ~ling, Smith ~]~, Smith (R), ~L~ner, Barnes
<br /> Nays: None
<br />
<br />70-553 - The following ordinance, approved on first raacling at last meeting., was taken up and read:
<br />
<br />"~N ORDINkNCE TO APPROPRIatE $3,356.64 FROM THE ~2k~ERAL FLeD AS ~ CITY'S SHAR~!0F ~
<br />FUNDS FOR TY~ COST OF THE CHILD-YOUTH SERVICES STIDY."
<br />
<br />On motion of M~. Turner, the ordinance was adopted an~ by the following vote:
<br />
<br /> Ayes: Holley, Johnson, ~ing, Smith (!), Smith (R), Turner, Barnes
<br /> Nays: None
<br />
<br />70-554 - The followiD~ ordinance~ approved on first reading at the last meeting, was taken up and read:
<br />
<br />"~ ORDINkWCE TO APPROPRIATE $38,662.00 FROM ~E SENIOR CITIZE~ FL~.~D FOR THE OPEPATIQM
<br />OF THE SE~OR CITIZenS FACILITY."
<br />
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