Minutes 11/11/1969 - Laserfiche WebLink

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November 11, 1969 Manager is further authorized to sell the Utility Bonds either together wi~ or separate from any other full faith and credit bonds of the City authorized for issuance. U,~ll nnwe~ and authority is hereby ~iven to ~he City Manager of the City of Portsmouth to prepare and issu~ the ~{i~"B~nd--s-i~ suyh f~rm and fo~ ~u~h sum as authorized by S?~ion~! ~ereof. Th% ~id Cit~ ~an~er_i~ authorized to cause to oe imprinted on the back of ead~ of said Utility ~onos a copy o~ the complete r~nal leg~ opinion with respect to said bonds, with name of the attorney or attorneys rendering same, together with a certification of the City Clerk, evidenced by a facsimile signature of that officer, to the effect that the copy is a true and correct copy of the legal opinion which was dated as of the date of delivery and p~,rment of the bondS. Section 4. The Utility Bonds shall not be subject to taxation by the City of PortSmouth, and the coupons pertaining to said bonds, shall after the maturity of said coupons, be received in payment of all dues, taxes, and assessments due to the City. Section 5, The Utility Bonds authorizad by this resolution shall not be included in determining the limitation upon the power of the City to incur indebtedness under the provisions of Section One Hundred Twenty- seven, Clause (b), of the Constitution of Virginia, but from and after Nover~er 5, 1973~ whenever and for so I¢ as the revenue producing undertaking constructed and improved out of proceeds of said bonds fails to produce sufficient revenue to pay the cost of operation and administration (includinginterest on bonds issued there- for, and the cost of insurance against loss or injuries to persons and property), and mi mnnual amount to be covered into a sinking fund sufficient to pay at or before maturity all bonds issued on account of said revenu~ ~Foducing undertaking, all such bonds outstmnding shall be included in determing the limitation upon the power of the City of Portsmouth to incur indebtedness. Section 6. The resolution entitled "A RESOLUTION TO AL~HORIZE THE ISSUAIqCE OF ONE MILLION DOLLARS OF BONDS TO BE KNOWN AS UTILITY BONDS FOR ~HE PURPOSE OF MAKING I[~ROI~NTS, EXTENSIONS kND ADDITIONS TO TIIE P~VENUE PRODUCING UNDERTAKING OF THE CITY 00NSISTING OF ITS WATER, SEWER, AND SEWAGE ISPOSAL SYSTEM, PURSU~N~ TO SECTION 127, CLAUSE (B), OF THE CONSTITUTION OF VIRGINIA, ~ND CHAPTER 5 OF TITLE 15.1 OF THE CODE OF VIRGINIA, 1950, ~qD b]qDER AUTHORITY OF THE VOTE OF THE QUALIFIED VOTERS OF THE CITY OF PORTSMOL~H AT ~q ELECTION HELD ON THE FIFTH DAY OF NOVE~-~ER, 1968, kND ~LRKING PROVISION FOR THE FO~-{ OF SAID BONDS kND FOR ~E PAY~.Z~NT THERE- FOR", adopted December 17, 1968 is hereby repealed. All other resolutions or orders, or parts thereof, in con- flict with the provisions of this resolution, are to the extent of such conflict hereby repealed. Section ?. This~ resolution shall take effect from its passage." Ayes: Ba~n~es, Eastes, Holtey, Johnson, King, Smith, Turner ~ays. None 69-358 - "I submit the attached resolution and recommend its adoption, This appoints viewers for the closing of an unnamed 20-ft. lane rtmning southward from Airline Boulevard. This is a paper lane of no value and the owner is requesting its closure in order that the property can be properly developed." On motion of Mr. Johnson, the following resolution was adopted, without dissenting vote: "RESOLUTION APPOINTING VIEWERS FOR THE CLOSING OF ~NY b~Nk~D L.~WE ON T~tEiEA~TERLY SIDE OF AIRLINE BOULEVARD ~FHBREAS, Sweet~-i~imr Develooment Corporation and the City of Portsmouth have made ~pplication to vacate and close the hereinafter described portion of a certain unnamed lane, twenty feet in width, located on the easterly side of Airline Boulevard and it anpearing that notice of the application and request for the appoint- ment of viewers was duly posted on October 27, 1969, on the bulletin board of the Court of~-~ for the City of Portsmouth, on the bulletin board of the Circuit Court of the City of Portsmouth, and on the bulletin board of the Muncioal Court of the City of Portsmouth. NOW, THEREFOP~, BE IT RESOLVED by the Com~cil of the City of Portsmouth, Virginia, that Frank N. Bilisoly, L. A. Clarke, Luther Tapp, Millard Norman mid Loyed W. Gardner, be appointed viewers to view the hereinafter described portion of said lane and report to this council in writing whether in their ooinion any, and if any, what inconvenience would result from vacating and closing the following portion of the specified street: Beginning at a point 280', more or less, East of the western line of Hodges ~nd Grice, where a lane twenty feet in width intersects the easterly side of Airline Boulevard (formerly known as Suffolk Road), said lane at such intersection being the southerly boundary of Lot #2 on the plat of Hodges and Grice and the northerly boundary of Lot #$ on said plat; and thence running along the a~dresaid lane in a southeasterly direction to its terminus as showm on the Ho~s and Gri~e plat." 6~-559 - "BidS were received on No~ember 3, 1969, for the sale of a triangular parcel of land at Mascott Street and Frederick Boulevard. This land was acquired at the time the City was purchasing the right-of-way for Frederick Boulevard and it is now of no value to the City. One bid was received for the ourchase of this property from George H. Colden and Edward A. Colden in the amount of $1,000. I recommend that the property be sold to Messrs. George H. and Edward A. Colden for the above amount." Motion of Mr. Smith to concur in the recommendation of the City Manager was adopted, without dissenting 69-360 - "I submit the attached resolution mud recomm~ld ~t$ adoption. This approves a plan for industrial development in the City of Portsmouth. This outlines the responsibilities of the various agencies involved in .f~kdustrial development for the City of Portsmouth. The purpose of this plan is to coordinate these agencies into a sound industrial development program for the City." On motion of Mr. King, the following resolution was adopted, without dissenting vote: