Minutes 12/12/1967 - Laserfiche WebLink

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December 12, 1967 IN WITNESS WHEREOF, the Council of the City of Portsmouth has caused this note to be signed by the City Treasurer or Deputy City Treasurer of said City and its corporate seat to be affixed hereto and attested by the City Clerk or the Deputy City Cl~k, and this note to be dated December , 1967. Attest: ' t C'fty Treasurer, Ci y of Portmnouth, Virginia Ci'ty ~lerk, ~i~y"o~' f~rtsmouth, Virginia PROVISIONS FOR REGISTRATION This note may be registered as to principal and interest on books kept by the City Auditor of the City of Portsmouth, Virginia, as Bond Registrar, or by such other Bond Registrar as may be legally appointed by the Council of the City of Portsmouth, Virginia, upon presentation hereof to such Bond Registrar, who shall make notation of such registration in the registration blank below, and this note may thereafter he transferred only upon an assignment duly executed by the registered owner or his attorney or Iegal representative in such form as shall be satisfactory to the Bond Registrar, such transfer to be made on such books and endorsed hereon by the Bond Registrar. Such transfer may be to b~arer, and thereby transferability by delivery sh~lt~b~ restored, hut this note shall ~gain be subject to successive registrations and transfers as before. The principal of and interest on this note, if registered, unless registered to bearer, shall be payable only to or upon the order of the registered owner of his legal representative. DATE OF NA~E OF REGISTRATION .REGISTERED eiSNER SIGNATURE OF BOND REGISTRAR 5. The action of-the City Manager in soliciting tenders for such notes as hearer notes registrable as to principal and interest, is hereby ratified, confirmed and approved. Ail previous resolutibns of the City Council to the extent they are inconsistent herewith are hereby repealed. 4. That the said notes be issued to the aforesaid purchasers at the respective rates of interest and the City Manager is hereby authorized to complete sale of the haid notes and deliver the same to zhe respective purchasers upon the payment of the purchase pri~e therefor, being the principal amount of $7~000~000.00 plus a premium of ~12.00 on the notes sold to American National Bank and a premium of ~41,40 on the notes sold to The Bank of Virginia." 67-561 - "In order that we can submit charter changes to the next General Assembly, it is necessary that a public hearing be held on and changes the city proposes. I recommend that ~ public hearing be held on the charter changes at the next Council meeting on Tuesday, December 26, 1967." Motion of Mr. Johnson to concur in the recommendation of the City Manager was adopted, without dissenting vote. 67-362 - "I submit the attached resolution and recommend its adoption. This authorizes condemnation proceedings on property needed for the London-Glasgow Street Expressway. This is necessary due to title deficiencies," On motion of Mr. King, the following resolution was adopted, without dissenting vote: "A RESOLUTION TO PROVIDE FOR THE ACOUISITION OF CERTAIN PROPERTY BY THE CITY OF PORTSMOUTH UNDER EA{INENT DOMAIN PROCEEDINGS PURSUANT TO CHA?rER 229 OF THE ACTS OF ASSEMBLY OF 1966, SAID PROPERTY BEING NECESSARY FOR THE CONSTRUCTION, WIDENING AND J3lPROVFAIENT OF STATE HIGHWAY ROUTE S8 FROM THE INTERSECTION OF AIRLINE BOULEVARD AND HIGH STREET TO THE INTERSECTION OF LONDON AND EFFINGHAH STREETS. WHEREAS, in coooeration with the Federal and State governments, State Highway Route 58 is being constructed, widened and improved from theintersection ~f London and Effingham Streets in the City of Portsmouth, Virginia; and WHEREAS, one of the obligations of the City of Portsmouth with respect to said project is the provision of the ~fmd necessary for the construction; and WHEREAS, THE CITY of Portsmouth has ~ound it to be necessary to acquire the interest hereinafter specified in and to the hereinafter ~escrlbed parcels of land situate in the City of Portsmouth~ Virginia, for the purpose of constructing, widening and improving the aforesaid State Highway Route 58; and WHEREAS, the City of Portsmouth has not been able to purchase the property described herein, necessary to the project, because the owners thereof and the City have not been able to agree upon the price to be paid therefor, or the City has not been able to locate certain of the owners or because of the status of the title of certain parcels of the property; and