Minutes 09/23/2003 - Laserfiche WebLink

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September 23, 2003 4. 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. 5. Execution of Note. The City Manager and the Clerk of the City are authorized and directed to execute an appropriate negotiable Note and to affix the seal of the City thereto and to deliver the Note to the purchaser thereof upon payment of the purchase price. The manner of execution and affixation of the seal may be by facsimile, provided, however, that if the signatures of the City Manager and the Clerk are both by facsimile, the Note shall not be valid until signed at the foot thereof by the manual signature of the Note Registrar. 6. Non-Arbitraqe Certificate and Tax Covenants. The City Manager and the Chief Financial Officer, or either of them, 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 Code, including the provisions of Section 148 of the Code and applicable regulations relating to "arbitrage bonds." The City Council covenants on behalf of the City that all of such proceeds will be invested and expended as set forth in the City's Non-Arbitrage Certificate and Tax Covenants and that the City will comply with the other covenants and representations contained therein. 7. 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 and to execute and deliver such additional agreements, documents and certificates as they deem necessary regarding the Financing and all actions taken by such officers and agents in connection with the Financing are ratified and confirmed. g. Effective Date; Applicable Law. In accordance with Section 15.2-2601 of the Public Finance Act of 1991, Chapter 26, Title 15.2, 1950 Code of Virginia, as amended, (the "Act"), the City Council elects to issue the Note (or any Support Agreement) pursuant to the provisions of the Act. This Resolution shall take effect on the date of its adoption." Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None 03 - 348 - Adoption of a resolution authorizing the City Manager to execute an easement to Dominion Virginia Power for underground and overhead electric service on the property of Brighton School within a strip of land not to exceed 30 feet in width, for the construction of improvements to the school property. Recommendation: · Adoption of a resolution authorizing the City Manager to execute an easement to Dominion Virginia Power for underground and overhead electric service on the property of Brighton School within a strip of land not to exceed 30 feet in width. Purpose and Need: · This easement is requested because the improvements that will be constructed on the Brighton School property necessitate the construction of new underground and overhead electric lines over the Brighton School property. Financial Impact: · Dominion Virginia Power expects the easement to be provided without compensation to the City. Motion by Ms. Randall, and seconded by Mr. Whitehurst, to adopt the following resolution, and was adopted by the following vote: