|
4O8
<br />
<br />February 21~ i967
<br />
<br /> At a called meeting of the City Council, held on February 21, 1967, at 8:30 p.m., there were
<br />present:
<br />
<br /> R. Irvine Smith, Jack P. Barnes, George D. Eastes,~Burre~l R. Johnson, Isaac W. King,
<br /> L. L. Knight, A. P. Johnson', Jr., City Manager, M. A.'~ Korb, Jr., City Attorney, and
<br /> R. D. 0ttavio, City Auditor. Absent, W T Leafy.
<br />
<br />The meeting was opened by prayer by ~r. King.
<br />
<br /> The following call for the meeting %vas read:
<br /> "Please attend a called meeting of the City Council on Tuesday, February 21, 1967,
<br />at 8:30 p.m. to consider the following:
<br /> ~n ordinance on first reading authorizing the issuance of $8j500,000 of General Obligation
<br /> Bonds.
<br />
<br />By order of the President."
<br />
<br /> 67- 4~5-- The City Manager presented the following:
<br /> "t submit the attached ordinance and recommend that it be placed on first reading. This
<br />authorizes the issuance of $8,500,000 of General Obligation Bonds. They will be issued to finance
<br />projects that have been completed or are now under construction as lo,Iowa:
<br /> Marine Terminal $4,490,000
<br />
<br />Public Buildings 2,612,000
<br />Schools 433,400
<br />HighwaMs 270,000
<br />Urban Renewal 299,100
<br />Sewers 215~500
<br />Recreation 45,000
<br />Miscellaneous 135,000
<br />
<br /> It is planned that bids b~ received for these bonds on April 1!, 1967, and that the bonds
<br />be dated May 1, 1967.
<br /> The above issue has been approved by th~ Bond Commission."
<br />
<br />On motinn of Mr. Knight,' the following ordinance was approved on first reading, without dissenting
<br />
<br />vote:
<br />
<br /> "~N ORDINANCE ~ENDING ORDINANCE N0.1966-47 ENACTED Jb%~E 14, 1966, SO AS TO PROVIDE FOR THE
<br />ISSUANCE OF EIGHT ..~ILLION FIVE HUNDRED THOUSAND DOLLARS ~F BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA,
<br />TO BE KN0}~ AS GENERAL OBLIGATION BONDS, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE CITY'S SHARE OF THE
<br />COST OF CONSTRUCTION OF A MARINE TErmINAL AT PINNERS POINT, FOR THE CONSTRUCTION OF SCHOOLS, C~RTAIN
<br />OTHER PUBLIC BUILDINGS, RECREATIONAL FACILITIES, SEWERS AND STREETS, FOR THE?~RFMdASE OF PROPERTY FOR
<br />EDUCATIONAL ~ND PORT DEVELOPMENT PURPOSES, AND FOR URBan4 RENEWAL PURPOSES, AND MAKING PROVISION FOR
<br />THE FO~M OF SAID BONDS ~ND FOR THE PAYMENT THEREOF"
<br />
<br />On moiion adjourned.
<br />
<br />Approved -
<br />
<br />City Clerk
<br />
<br />
<br />
|