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June I1~ 1968
<br />
<br />"AN ORDINANCE TO APPROPRIATE $20,000.00 FROM THE GENEP&L FDND FOR THE OPERATION OF THE
<br />YOUTH CORPS."
<br />
<br /> 68-192 - "I Submit the attached ordinance and recommend it be placed on first reading. This appropriates
<br />$86,045.45 for architectural fees due on the Merrifields school.
<br />
<br /> The School Board has advanced $48,835.60 of this amount previously. It is necessary to appropriate these
<br />funds to reimburse the School Board before the end of the fiscal year and pay the amount now due."
<br />
<br />vote:
<br />
<br />On motion of Mr. Leafy, the following ordinance was approved on first reading, without dissenting
<br />
<br />"AN ORDINANCE TO APPROPRIATE $86,045.45 FROM THE GENERAL CAPITAL IMPROVF2,IENT FUND FOR THE
<br />ARCHITECT'S FEE FOR THE MERRIFIELDS SCHOOL."
<br />
<br /> 68-193 - "I submit the attached ordinance and recommend it be placed on first reading. This appropriates
<br />$11,750 for the cost of conducting a City census in connection with the required School census.
<br />
<br /> T~his census is being conducted jointly by members of the Planning Department staff and the Schoel system.
<br />This School census being taken is required by the State Department of Eau~atlon and is important to the City
<br />as one oer cent of the sales tax revenue returned to the cities is based on school-age population."
<br />
<br /> On motion of Mr. King, the following ordinance was approved on first reading, without dissenting
<br />vote:
<br />
<br />"~4 DRDI,N~CB TD A}PR8~R~ATE $11,750.00 FROM THE GENERALFUND FOR THE SCHOOL CENSUS."
<br />
<br /> 68-194 - "I submit the attached ordinance and recommend it be placed on first reading. This mmends
<br />the City Code pertaining to the re, es charged for collection on
<br />
<br /> We have recently purchased equipment which will allow the collection of smaller sized dump~rhb~xes.
<br />In the past, we have only been able to collect on 6, 8 or 10 cubic yard boxes. With the new type of equipment,
<br />we can make collections on 2, $, 4, 6 and 8 cubic yard boxes. This proposed ordinance will establish rates
<br />for the smaller sized boxes and also provides a rate scale for extra collections. At the present time we have
<br />only one rate of $2.50 for extra collections."
<br />
<br /> On motion of Mr. Knight, the following ordinance was approved on first reading, without dissenting
<br />vote:
<br />
<br /> "~N ORDINANCE TO AMEND THE CODE OF ~{E CITY OF PORTSMOUTH, VIRGINIA~ 1961, BY AMENDING SECTIONS 13-18,
<br />13-20, 13-22, A~R 13-27 THERESF AND BY ADDING THERETO A NEW SECTION NUMBERED 13-21.1, ALL REAATING TO THE
<br />SERVICE CHARGES IMPOSED FOR THE COLLECTION AND DISPOSAL OF TRASH AND GARBAGE FROM BUSINESS AND INDUSTRIAL
<br />ESTABLISHMENTS."
<br />
<br /> 68-195 - "I submit the attached resolution and recommend its adoption. This authorizes the temporary
<br />borrowing of $8,000,000 in lieu of the bond issue on which bids were recently rejected.
<br />
<br /> Bids were received at 11:30 A.M. on Monday, June 10,.1968 for these temporary notes. The following
<br />are the low bids:
<br />
<br />First and Merchants Bank -
<br />
<br />$1,000,000 at 3.94%
<br />$1,000,000 at 3.89%
<br />$1,000,000 at 3.84%
<br />$1,000~000 at 3.79%
<br />
<br />Bank of Virginia
<br />
<br />$2,000,000 at 4.05% with a $6.00 premium.
<br />$ S00,000 at 4.10% with a $ .75 premium.
<br />
<br />American National Bank
<br />
<br />- $ 500,000 at 4.05% with a $11.00 premium.
<br /> $ 500,000 at 4.10% with a $11.00 premium.
<br />
<br />Citizens Trust Company - $ 500,000 at 3.98%
<br />
<br />These notes are to be issued for a period of one year.,'
<br />
<br />On motion of Mr. Leafy, the following resolution was adopted, without dissenting vote:
<br />
<br />"A RESOLUTION TO APPROVE ~E SALE OF EIGHT MILLION DOLLARS OF BOND ~TICIPATION NOTES PROVIDED
<br />IN A RESOLUTION ADOPTED BY THE CITY COUNCIL ON MAY 28, 1968 AND FIXING THE RATE OF INTEREST
<br />FOR SAID NOTES
<br />
<br /> WHEREAS, the City Manager of the City of Portsmouth has received proposals for the purchase of RI~H~
<br />Million Dollars of Bond Anticipation Notes authorized by a resolution adopted by the City Council on May 28,
<br />1968, and ;Jaerican National Bank, Citizens Trust C~mpany, First & Merchants National Bank and The Bank of
<br />Virginia, have submitted the best offers for purchase of said notes, and the City Manager has recommended that
<br />the said offers be aPProved.
<br />
<br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia:
<br />
<br />That the sale of Eight Million Dollars of Bond Anticipation Notes of the City of Portsmouth,
<br />Virginia, authorized by a resolution adopted by the Council of the City of Portsmouth, Virginia,
<br />on May 28~ 1968, be, .and the same hereby are approved, in accordance with the terms of the
<br />respective bids submitted, to the following purchasers:
<br />
<br />
<br />
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