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june 13,1995
<br />
<br />Carl Burden -
<br />Charles Bowens - Griffin, Hawks, Martin
<br />Richard Crawford - Griffin
<br />Mary Curran - Hawks, Martin, Pitts, Webb
<br />Evelyn Hyman - Clemons, Griffin
<br />Byron Kloeppel - Hawks, Martin, Pitts,
<br />Bobby L. McKenney - Robinett
<br />Brian Nance, Sr. - Pitts, Webb
<br />John Underwood, Sr. - Robinett
<br />Pricillia~ West - Clemons
<br />
<br />Bryon P. Kloeppel, to be appointed to
<br />ending June 30, 1998,
<br />
<br />Robinett, Webb
<br />
<br /> fill a three year
<br />replacing EVelyn Hyman.
<br />
<br />tern%
<br />
<br />Mary Curran, to be appointed to fill a three year term ending
<br />June 30, 1998, replacing Richard Crawford.
<br />
<br />Charles Bowens, to be reappointed to fill a three year term
<br />ending June 30, 1998.
<br />
<br /> Motion by Mr. Robinett, and seconded bY Mr. Pitts, to
<br />accept the nominations to fill the vacancies on the School
<br />Board, and was adopted by a vote of 6-1 (Griffin).
<br />
<br />95-293 - Items Submitted by Council Members.
<br />
<br />1.) J. Peter Teig, Director of Finance, provided information
<br />on the Bond Anticipation Loan.
<br />
<br /> Motion by Mr. Clemons, and seconded by Mr. Hawks, to adopt
<br />the following resolution, and was adopted by the following
<br />vote:
<br />
<br /> "A RESOLUTION AUTHORIZING THE EXTENSION OF THE MATURITY OF
<br />$5,000,000.00 PRINCIPAL AMOUNT OF THE CITY OF PORTSMOUTH,
<br />VIRGINIA, GENERAL OBLIGATION PUBLIC IMPROVEMENT BOND
<br />AITTICIPATION NOTES DATED NOVEMBER 23, 1994.
<br />
<br /> WHEREAS, the City of Portsmouth, Virginia (the "City"), on
<br />November 23, 1994, issued $5,000,000.00 principal amount of
<br />General Obligation Public Improvement Bond Anticipation Notes,
<br />dated November 23, 1994 (the "Notes"), bearing interest payable
<br />in advance at the rate of 4.42% per annum and with a stated
<br />maturity of June 23, 1995; and
<br />
<br /> WHEREAS, the City desires to extend the maturity of the
<br />Notes to June 28, 1995, and Crestar Bank, as registered owners
<br />of the Notes, is willing to agree to such extension of the
<br />maturity of the Notes with interest for the period of such
<br />extension at the rate of 4.42% per annum, such interest to be
<br />payable on June 28, 1995;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City
<br />of Portsmouth, virginia, that the extension of the maturity of
<br />the Notes from June 23, 1995, to June 28, 1995, is hereby
<br />approved, ratified and confirmed, with the Notes to bear
<br />interest for the period of such extension at the rate of 4.42%
<br />per annum, such interest to be payable on June 28, 1995."
<br />
<br />Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb
<br />Nays: None
<br />
<br />95-294 - Receipt of Other Communications
<br />
<br />2.) Councilman Pitts acknowledged that he was reappointed by
<br />VML to the Transportation Policy Steering Committee.
<br />
<br />3.) Councilman Martin requested information on the removal of
<br />trees at the Bide-A-Wee Golf Course.
<br />
<br />
<br />
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