Minutes 12/30/1918 - Laserfiche WebLink

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358 Dec~nber 30, 19t8 to the City, have t~ same recorded in the proper Clerks' Offices." On motion of M~. Claud, seconded by }~o W~ight, the resolution was adopted by the follow- Lug vote: Ayes-- Claud, Culpepper, Deans, Hanvey, Herbert, ~rzght, 6. On motion, adjourned to meet ~Thttrsday, Januar~y 2nd, 1919° January 2, 1919. At an adjourned special meeting of the City Council January 2nd there were present: Messrs-- MoLP. Claud, W. H. Culpepper, C. D. Deans, E~ H~ Herbert, E. H.- Wright, 5. Also t~ City Manager. W~reu~n, the followi~ ordinance in relation to the issue ~d sale of wate~ bonds, which ~d been laid over Decembe~ 30th ~til ~is meeti~ of the body~ was ts~en up ~d ~ead: AN 0P~N~ IN ~.TION T0 T~ ISS~ ~ SA~ 0F WA~ BOI~S P~,SUANT T0 T~ A~HO~i~ CO~ BY AN 0~I~N~ E!~I~: ~ 0~ii~NCE TO 'AUTHORI~ T~ZISS~ 0P ~O M%LLION ~ ~R~ ~O~A~ DOL~R~ 0F B0~S T0 BE ~N A~ 'WA~ B0!~S~ PD~SUANT T0 SECTION 12V, CLAUSE B, OF T~ CONSTITL~ION 0F V~GINL~, A~ AN ~CT OF T~ GEi~L AS~LY 0~ V~GIN~, AP- PR0-~ lf~CH 16, 19t8, ~TI~ ~AN ACT TO ~U~0RI~ T~ COUNCILS OF T~ S~ CiT~S 0R TOWNS OF'Ti~ S~ T0 ISSL~ BOI~S FOR A SUPP~ OF WAT~ ~OR 0T~R SPEC~IC ~TAEING FRO~[ ~HICH T~ CI~ 0R TOV~N ~T DERI~ A R~E~, P~SUA~ TO SECTION Ot~ TWEN~-~N B OF T~ COnSTITU- TION OF V~GIN~-~ ~" ~OP~ ~P~NBER lO, 1918, A~ APPROV~ ~ A t~JORI~ OF T~ QUALIF~ V0~RS 0F TP~ Ci~[ OF P~TSMOUTH, .VOTi~JG UPON ~ Q~STION AT ~ E~CTION ~ t~ER 5, 1918: ~NG PROVISION FOR T~ FOEM ~F $2, 01V, 500. OF ~ BOI~S, ~ ISS~ A~ ~ 0F SAID BOI~S AND T[~ PDff~NT ~. Wright moved that the last two p~a~ap~ of ~ction 5 of the ordin~ce be s~uck out, ~t is the sections readim~ as follows: "Each of said ~t G~p~ies is here~ auth?mi~d on be~lf of the City of Portsmouth not o~y ~ ~ke exc~es of bo~s ~me~ ~tho~zed but also atthe ~e~est off a~ hol~er of a bond constituting p~t of t~ bonded ~B~edness of the ~ater Co~ as above specified, and upon the p~esentZtion of his bond for t~t p~pose, to s~p thereon ~ be~ of the City of porbsmouth, the fotlowi~ legend: '~ Cil& of Portsmouth ~de~ ~ ord~ce, duly adopted, ~s lodged with the ~ustee ~de~ the mortgage~ sec~ t~s bo~, water bo~s of said City in ~u~o~~ eq~l to the ~ value of t~ bends outs~i~ ~ the ~nds of the public ~der t~ mom~gage sec~i~ this bond, ~d this bond is exc~eable at ~time pmio~ to Janu~ l, 1929, provided this bo~ be then ~at~eG, at the option of the ~Ide~ for am~at~ bo~ of the City of p~t~outh so t~ged with t~ ~s~e of a like p~- cipal ~o~t due ~dj~t~.ent of the interest re~esen~d by the f~st mat~im~ coup~cof said water bo~ ~te~ the da~ Off transfem to be made at t~ .date of transfer~ ~is lege~ is placed hereon ~ the Cit~ of Porte, out_at the requSst off the holder of ~s bo~.'" ~e motion was adopted, ~d then the ordi~nce was adopted, as ~ended, ~d by the follow- i~ vote: Ayes-- Claud, Culpeppe~, De~s, ~rbert, V~right, 5. The following resolution was presen~d and adopted: mittee be and it is ~e~ d~ected to ~ve ~ep~ed the e~raved bonds authorized ~ the omdi- ~oe adopted J~ 2~ 19!9.TM ~n the followi~ ~solution was presented and adopted: 0F ~ C~ OP PORTSEOU~ ~t the F~nce Dependent is h~eby authoriEed.to empt~4[C~s certain 1~ of ~e H~e'd and F~ty '~' ~u~ .~ - ~ ~ - ~ - ~ ~ ~d 5~ Go,oil on ~sd~, J~e. ~26th, 1918. ~ .o~oEerage rot suc~ se~v=ces T~t sa~ loan be isled for p~t pa~ent for p~c~se of Portsmouth, BSrkley and S~folk VJater Co. ~SOL~ F~R, ~t the ~eas~er a~ the Ci~ Clerk ~ Audito~ be authorized to execute said !ban on be~ ofthe Ci~ · And by tt~e following vote: Ayes-- Claud, Culpeppe~, Deans, On motion, ad joined. Herbert, Wrzoht, 5.