Minutes 01/27/2004 - Laserfiche WebLink

Home Browse Search

January 27, 2004 Such officers or their designees are authorized to execute and deliver on behalf of the City such instruments, documents or certificates, and to do and perform such things and acts, as they shall deem necessary or appropriate to carry out the transactions authorized by this Resolution or contemplated by the Lease; and all of the foregoing, previously done or performed by such officers or agents of the City, are in all respects approved, ratified and confirmed. 3. Nature of Obli,qations. The obligation of the City to make payments under the Lease is subject to appropriation each year by the City Council. Nothing in this Resolution or the Lease shall constitute a debt or a pledge of the faith and credit of the City. 4. Reimbursement. The City Council adopts this declaration of official intent under Treasury Regulations Section 1.150-2. The City Council reasonably expects to reimburse advances made or to be made by the City to pay the costs of the Equipment from the proceeds of its lease financing. The maximum amount of financing expected to be issued for the Equipment is $24,000,000. 5. Effective Date. This Resolution shall take effect on the date of its adoption." Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None - New Business - 04 - 36 - Boards and Commissions There were no appointments. 04 - 37 - Items Submitted by Council Members Motion by Ms. Randall, and seconded by Mr. Whitehurst, that the Portsmouth Industrial Development Authority be requested to transfer to the City the net proceeds from the sale of the old I. C. Norcom High School property. Substitute motion by Mr. Griffin, and seconded by Mr. Benn, to accept the substitute motion to postpone discussion until an appropriate opportunity to discuss at the next available public work session, and was adopted by the following vote: Ayes: Benn, Griffin, Pitts, Holley Nays: Moody, Randall, Whitehurst Substitute motion by Mr. Griffin, and seconded by Mr. Benn, to postpone consideration until an appropriate opportunity to discuss at the next available public work session, and was adopted by the following vote: Ayes: Benn, Griffin, Pitts, Holley Nays: Moody, Randall, Whitehurst 03 - 38 - Non-Agenda Speakers 1. J. Brewer Moore, 308 Bobby Jones Drive, spoke on inequality among cities and citizens. 2. Jessica Jones, 4301 Cedar Lane, spoke on Heftier Creek Wildlife Preserve. 3. Horace Cross, 4301, Cedar Lane, spoke on Heftier Creek Wildlife Preserve. 4. Mark Geduldig-Yatrefsky, 363 Middle Street, spoke on appropriate conduct of the City's business regarding the consideration of the I. C. Norcom site item. 5. Jim English, 408 Burleigh Avenue, Norfolk, spoke in support of Hoffler Creek Wildlife Preserve.