Minutes 05/22/2001 - Laserfiche WebLink

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May 22, 2001 13. Continuin,q Disclosure. The City Manager and the Chief Financial Officer, or either of them, are authorized and directed to enter into a Continuing Disclosure Agreement for the benefit of the owners of the Bonds to assist the Underwriter for the Bonds in complying with the provisions of Section (b)(5) of Securities and Exchange Commission Rule 15c2-12. 14. Escrow Aqreement. The City Manager and the Chief Financial Officer, or either of them, are authorized to enter into an escrow agreement with such escrow agent as the Chief Financial Officer shall select providing for the payment of the 2001 Note. 15. 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 and to execute and deliver such additional agreements, documents and certificates as they deem necessary regarding the Bonds and all actions taken by such officers and agents in connection with the Bonds are ratified and confirmed. 16. Effective Date; Applicable Law. In accordance with Section 15.2-2601 of the Public Finance Act of 1991, Chapter 26, Title 15.2, 1950 Code of Virginia, as amended, (the "Act"), the City Council elects to issue the Bonds pursuant to the provisions of the Act. This Resolution shall take effect immediately." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None Motion by Mr. Moody, and seconded by Mr. Whitehurst, to adopt the following ordinance, and was adopted by the following vote: 01-166(C): "AN ORDINANCE TO APPROPRIATE $7,075,365 IN THE CAPITAL IMPROVEMENT FUND AND $5,324,000 IN THE PUBLIC UTILITIES CAPITAL IMPROVEMENT FUND." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 01 - 167 - Adoption of the following ordinances recommending the proposed operating budget for fiscal year ending June 30, 2002. a. Adoption of ordinances proposing an increases in the taxation of real estate from $1.36 per $100 assessed value to $1.42 per $100 assessed value and re-enacting the currently established rates for tangible personal property, privately-owned pleasure boats, privately-owned camping trailer and motor homes, and machinery and tools. b. Adoption of an ordinance to amend Chapter 35 of the Code of the City of Portsmouth to increase the cigarette tax rate from $.30 per pack to $.35 per pack and the guest lodging tax rate from 6.50% to 8.00%. c. Adoption of an ordinance to amend Chapter 38 of the Code of the City of Portsmouth to increase the water service charges from $2.60 per 1,000 gallons to $2.70 per 1,000 gallons per month, and sewage disposal charges from $1.95 per 1,000 per gallons of water usage to $2.00 per 1,000 gallon of water usage. d. Adoption of an ordinance to amend Chapter 16 of the Code of the City of Portsmouth to increase refuse collection fees from the current $16 per month collection to $18 per month collection. e. Adoption of an ordinance establishing new rates for ambulance fees charged by the Department of Fire, Rescue and Emergency Services. f. Adoption of an ordinance adopting the 2001-2002 Classification and Pay Plan for employees of the city of Portsmouth. g. Adoption of an ordinance to approve the Annual Operating Budget and appropriate the funds necessary to implement the Annual Operating Budget for the fiscal year beginning July 1, 2001 and ending June 30, 2002.