Minutes 11/13/2001 - Laserfiche WebLink

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November 13, 2001 Any Notes presented for transfer or exchange shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and substance reasonably satisfactory to the City and the Note Registrar, duly executed by the registered owner or by his or her duly authorized attorney-in-fact or legal representative. No Note may be registered to bearer. 8. Charges for Exchanqe or Transfer. No charge shall be made for any exchange or transfer of the Note, but the City may require payment by the registered owner of the Note of a sum sufficient to cover any tax or other governmental charge which may be imposed with respect to the transfer or exchange of such Note. 9. Non-Arbitraqe Certificate and Tax Covenants. The Chief Financial Officer and such officers and agents of the City as she may designate are authorized and directed to execute a Non-Arbitrage Certificate and Tax Covenants setting forth the expected use and investment of the proceeds of the Note and containing such covenants as may be necessary in order to comply with the provisions of the Internal Revenue Code of 1986, as amended ("Code"), including the provisions of Section 148 of the Code and applicable regulations relating to "arbitrage bonds." The City Council covenants on behalf of the City that the proceeds from the issuance and sale of the Note will be invested and expended as set forth in the City's Non-Arbitrage Certificate and Tax Covenants, to be delivered simultaneously with the issuance and delivery of the Note and that the City shall comply with the other covenants and representations contained therein. 10. Further Actions. The City Manager and the Chief Financial Officer and such officers and agents of the City as either of them may designate are authorized and directed to take such further action as they deem necessary regarding the issuance and sale of the Note and all actions taken by such officers and agents in connection with the issuance and sale of the Note are ratified and confirmed. 11. Effective Date: Applicable Law. This Resolution shall take effect immediately. The City Council elects to issue the Note pursuant to the provisions of the Public Finance Act of 1991, Chapter 26, Title 15.2, Code of Virginia of 1950, as amended, in accordance with Section 15.2-2601 of such Act." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 01 - 314 - Adoption of a resolution authorizing the City Manager to convey to the Portsmouth School Board a parcel of land on which the former Fire Station #6 is located, to be included as part of the new Brighton School Property. Recommendation: · Adoption of a resolution authorizing the City Manager to convey to the Portsmouth School Board a parcel of land on which the former Fire Station #6 is located. Purpose and Need: · Fire Station #6 located at 1120 Portsmouth Boulevard is now closed and responsibilities and duties of this station have been transferred to the new Fire Headquarters located at 1601 Effingham Street. · The ownership of this property will be conveyed to the Portsmouth School Board and then included as part of the new Brighton School Property. · The Fire Station will be demolished by the School Board and the costs of demolition are included in the School Board's budget for the new school. Financial Impact: · There is no negative financial impact with this conveyance. The conveyance will be accomplished at no cost to either the City or the School Board. 1. Joan Whitted, 4016 Middleburg Lane, spoke in support of this resolution. Motion by Mr. Benn, and seconded by Mr. Whitehurst, to adopt the following resolution, and was adopted by the following vote: