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April 23~ 1996 <br /> <br /> Amended motion by Mr. Robinett, and seconded by Mr. <br />Griffin, to show a line item of maintenance projects for <br />School Administration under educations and was adopted by <br />unanimous vote. <br /> <br /> The original motion to adopt the following resolution <br />including the amendments was adopted, and by the following <br />vote: <br /> <br /> "A RESOLUTION APPROVING THE FIVE YEAR CAPITAL <br />IMPROVEMENT PLAN FOR 1996-97 THROUGH 2000-01, AND A ONE YEAR <br />CAPITAL IMPROVEMENT PROGRAM FOR 1996-97. <br /> <br /> WHEREAS, the City Manager has submitted to the City <br />Council the Capital Improvement Plan for 1996-97 through <br />2000-01, and a one year Capital Improvement Prograph for <br />1996-97; and <br /> <br /> WHEREAS, the Planning Commission and the Municipal <br />Finance Commission have reviewed and commented on the plan <br />and program; and <br /> <br /> WHEREAS, a public hearing has been held to receive <br />publmc comments on the five year Capital improvement Plan and <br />on the one year Capital Improvement Program; and <br /> <br /> WHEREAS, the Council has considered and amended the <br />proposed five year Capital Improvement Plan and the proposed <br />one year Capital Improvement Program and finds them to be in <br />the proper form and expressive of Council policies in regard <br />to necessary capital improvements. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia that the aforesaid Capital <br />Improvement Plan for the years 1996-97 through 2000-01, and <br />the one year Capital Improvement Program for 1996-97 are <br />approved subject to later appropriation in the ordinary <br />course of business of the City." <br /> <br />Ayes: Griffin, Hawks, Martin, Pitts, Robinett, Webb <br />Nays: ~None <br /> <br /> Motion by Mr. Robinett, and seconded by Mr. Martin, to <br />adopt the following resolution, and was adopted by the <br />following vote: <br /> <br /> "A RESOLUTION AUTHORIZING THE ISSUANCE OF $4,100,000 OF <br />GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO <br />PAY THE COST OF VARIOUS PUBLIC IMPROVEMENT PROJECTS OF AND <br />FOR SUCH CITY; AND AUTHORIZING AND PROVIDING WITH RESPECT TO <br />THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL <br />OBLIGATION BOND ANTICIPATION NOTES IN A/~TICIPATION OF THE <br />ISSUANCE AND RECEIPT OF THE PROCEEDS OF SALE OF SUCH BONDS. <br /> <br /> WHEREAS, in the judgment of the Council (the "Council") <br />of the City of Portsmouth, Virginia (the "City"), it is <br />desirable to authorize the issuance of Four Million One <br />Hundred Thousand Dollars ($4,100,000) aggregate principal <br />sunount of general obligation public improvement bonds of the <br />City to provide funds to pay the costs of various Public <br />improvement projects of and for the City and, in anticipation <br />of the issuance of such bonds, to authorize and provide for <br />the issuance and sale of general obIigation public <br />improvement bond anticipation notes; and <br /> <br /> <br />