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252 <br /> <br />November 25_ 1997 <br /> <br />97-312 Adoption of a resolution canceling the regularly scheduled February <br /> 10, 1998 City Council meeting. <br /> <br />Recommendation: <br /> <br />· Adoption of a resolution canceling the regularly scheduled February 10, <br /> 1998 City Council meeting. <br /> <br />Pur~: <br /> <br />City Council is scheduled to conduct a retreat on February 8-10, 1998, which <br />necessitates canceling the regularly scheduled February 10, 1998 City <br />Council meeting. <br /> <br />Financial Im_oact: <br /> <br />· There is no financial impact. <br /> <br /> Motion by Mr. Benn, and seconded by Mr. Clemons, to adopt the <br />following resolution, and was adopted by the following vote: <br /> <br /> "A RESOLUTION CANCELING THE REGULARLY-SCHEDULED CITY <br />COUNCIL MEETING OF FEBRUARY 10, 1998. <br /> <br /> WHEREAS, the Portsmouth City Council will conduct a retreat from <br />February 8, 1998, through February 10, 1998; and <br /> <br /> WHEREAS, the City Council also has a regularly scheduled meeting on <br />February 10, 1998. <br /> <br /> NOW THEREFORE BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia, that the regularly-scheduled meeting for February 10, <br />1998, be, and hereby is, canceled." <br /> <br />Ayes: Benn, Clemons, Griffin, Martin, Pitts, Robinett, Holley <br />Nays: None <br /> <br />97 - 313 Adoption of a resolution authorizing the issuance of $22,045,000 in <br /> General Obligation Public Improvement Bonds that have been <br /> authorized during the past several years as part of the City's Capital <br /> Improvement Programs. <br /> <br />Recommendation: <br /> <br />Adoption of a resolution authorizing the issuance of $22,045,000 in General <br />Obligation Public Improvement Bonds which have been authorized during <br />the past several years as part of the Capital Improvement Program <br />adoptions. In addition, the resolution authorizes the refunding of up to <br />$13,600,000 of General Obligation Public Improvement Bonds 9,235,000 of <br />General Obligation Public Improvement Bonds and $4,500,000 of General <br />Obligation Public Utility Bonds that mature between 2003 and 2012; and up <br />to $11,900,000 of taxable bonds for the refunding of the obligation to the <br />Virgi nia Retirement System (VRS) incurred previously by the School Board. <br />The bonds that are to be refunded are a portion of the bonds issued by the <br />City on January 1, 1992. <br /> <br /> <br />