Minutes 10/29/2002 - Laserfiche WebLink

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October 29, 2002 2. Form of Note. The Amended Note shall be in substantially the form attached to this Resolution as Exhibit A, with such appropriate variations, omissions and insertions as are permitted or required by this Resolution. There may be endorsed on the Amended Note such legend or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. 3. Execution of Note. The Mayor and the City Manager, or either of them, are authorized and directed to execute and deliver an appropriate Amended Note or Notes and the Clerk is authorized to affix the seal of the City thereto and to attest the same. The manner of execution and affixation of the seal may be by facsimile, provided, however, that if all of the signatures are by facsimile, the Amended Note shall not be valid until signed at the foot thereof by the manual signature of the Note Registrar. 4. 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 Amended Note and all actions taken by such officers and agents in connection with the Amended Note are ratified and confirmed. 5. Reaffirmation of 2001 Note Resolution. The 2001 Note Resolution is reaffirmed, as modified by this Resolution, and shall govern all matters covered thereby to the extent not inconsistent with this Resolution. All matters covered in the 2001 Note Resolution relating to the Note shall also govern the Amended Note to the extent not inconsistent with this Resolution. 6. Effective Date: Applicable Law. This Resolution shall take effect on the date of its adoption. The City Council elected pursuant to the 2001 Note Resolution 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 (the "Act"), in accordance with Section 15.2-2601 of such Act. The Act shall also govern the Amended Note." Ayes: Benn, Griffin, Moody, Pitts, Randall Nays: None 02 - 327 - Adoption of a resolution endorsing the construction and capital improvement projects for institutions of higher learning in the Commonwealth of Virginia including Norfolk State University, Old Dominion University, the College of William and Mary, and Tidewater Community College as proposed in the November 5 statewide referendum. These capital projects, including $25 million for the relocation of the TCC campus located in Suffolk to Portsmouth, will be considered as part of the statewide referendum on November 5, 2002 for the issuance of general obligation bonds of the Commonwealth of Virginia to fund the construction of educational facilities. Recommendation: · Adoption of a resolution endorsing the construction and capital improvement projects for institutions of higher learning in the Commonwealth of Virginia and including Norfolk State University, Old Dominion University, the College of William and Mary, and Tidewater Community College as proposed in the November 5 statewide referendum. Purpose and Need: · The General Assembly has approved legislation authorizing a referendum question concerning the issuance of general obligation bonds of the Commonwealth of Virginia for educational facilities. Every community college and public four-year university in every region of the Commonwealth will benefit from the passage of the educational facilities bond referendum. If approved, the amount of these general obligations bonds is $900,488,645. · The educational facilities to be improved in Hampton Roads would include Norfolk State University, Old Dominion University, the College of William and Mary, and the Tidewater Community College (TCC) system.