Minutes 11/25/2003 - Laserfiche WebLink

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November 25, 2003 4. REVOCATION OF PERMIT: Violation of any of the above conditions may serve as grounds for revocation of the use permit by the City Council." Ayes: Benn, Griffin, Moody, Pitts, Holley Nays: Randall, Whitehurst Mayor Holley granted a recess of 2 minutes. - City Manager's Report - 03 - 423 - Adoption of an ordinance to appropriate $223,147 in excess funds received from the Virginia Department of Transportation (VDOT) for maintenance of City streets. Recommendation: · Adoption of an ordinance to appropriate $223,147 in excess funds received from the Virginia Department of Transportation (VDOT) for maintenance of City streets. Purpose and Need: · In accordance with Section 33.1-41.1 of the Code of Virginia, the City of Portsmouth annually receives a specified amount of funding per-lane mile of City streets for maintenance of the streets. · The new rate for each year is not calculated until the Fall of each year. The $223,147 represents the increase over the amount anticipated for the 2003-2004 fiscal year. Financial Impact: · The additional funds will go towards the City's paving program, and with these additional funds, the total paving budget is $1,517,205. Motion by Mr. Whitehurst, and seconded by Ms. Randall, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE TO APPROPRIATE $223,147 IN THE GENERAL FUND FOR STREET MAINTENANCE." Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None 03 - 424 - Adoption of a resolution of the City of Portsmouth with respect to the issuance and sale of general obligation refunding bonds and the extension of the City's general obligation parking note. Recommendation: · Adoption of a resolution authorizing the issuance and sale of General Obligation Refunding Bonds and the extension of the City's General Obligation Parking Note. Purpose and Need: · Council adopted resolutions on August 12, 2003 and on September 9, 2003 authorizing the issuance of certain general obligation refunding bonds to refund certain outstanding bonds and a General Obligation Parking Note of the City. · This action will authorize certain additional provisions with respect to the refunding bonds and will authorize the extension of the City's $7,500,000 General Obligation Parking Note. · This bond sale is currently scheduled for the week of December 11. 2003.