Minutes 08/12/2003 - Laserfiche WebLink

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Au,qust 12, 2003 3. Form of Note. The 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 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. 4. Execution of Note. The City Manager of the City and the Chief Financial Officer of the City, or either of them, are authorized and directed to execute an appropriate negotiable Note and the Clerk is authorized and directed to affix the seal of the City thereto and to attest such seal and such officers are authorized and directed to deliver the Note to the purchaser thereof. The signature of any officer executing the Note, and the affixation of the City seal, may be by facsimile, provided that if all the signatures are by facsimile, the Note shall be authenticated by a paying agent to be appointed by the Chief Financial Officer, which paying agent may be an officer of the City. 5. Non-Arbitraqe Certificate and Tax Covenants. The Chief Financial Officer of the City and such officers and agents of the City as she may designate are authorized and directed to execute a Non-Arbitrage Certificate and Tax Covenants setting forth the expected use and investment of the proceeds of the Note and containing such covenants as may be necessary in order to comply with the provisions of the Internal Revenue Code of 1986, as amended ("Code"), including the provisions of Section 148 of the Code and applicable regulations relating to "arbitrage bonds." 6. Further Actions. The City Manager and the Chief Financial Officer of the City 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 issuance and sale of the Note and all actions taken by such officers and agents in connection with the issuance and sale of the Note are ratified and confirmed. 7. Effective Date; Applicable Law. This Resolution shall take effect on the date of its adoption. The City Council elects 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, in accordance with Section 15.2-2601 of such Act." Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None 03 - 276 - Adoption of a resolution authorizing the City Manager to convert the Urban Park and Recreation Recovery (UPARR) designation at the Hilanders (formerly Academy Park) Recreation Center site to the Joseph E. Parker Center. Recommendation: · Adoption of a resolution authorizing the City Manager to convert the UPARR designation at the Hilanders (formerly Academy Park) Recreation Center site to the Joseph E. Parker Center. Purpose and Need: · The conversion of the UPARR designation from Hilanders to Joseph E. Parker would free the site on which Hilanders was located for development in the area of the new Victory Commerce Park. Financial Impact: · The much larger Hilanders site would be available to go on tax rolls as a private site when developed. Motion by Mr. Whitehurst, and seconded by Mr. Moody, to adopt the following resolution, and was adopted by the following vote: