Minutes 12/13/2005 - Laserfiche WebLink

Home Browse Search

December 13, 2005 WHEREAS, the Authority is an authority subject to the Local Approval Provision; WHEREAS, on November 14, 2005, the Authority held a public hearing (the "Hearing") regarding the reissuance of the Tax-Exempt Bonds pursuant to a notice of public hearing published twice on October 31, 2005 and November 7, 2005, the last such date being not less than six days after the second publication of such notice; and WHEREAS, the Authority has provided to the City Council the following: (i) a reasonably detailed summary of the comments, if any, expressed at the Hearing; (ii) a fiscal impact statement concerning the Tax-Exempt Bonds in the form specified in Section 15.2-4907 of the Code of Virginia; and (iii) the Authority's request and recommendation that the City Council approve the reissuance of the Tax-Exempt Bonds; and WHEREAS, the City Council has determined to approve the reissuance of the Tax-Exempt Bonds. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Portsmouth as follows: 1. The City Council hereby approves the reissuance by the Authority of the Tax-Exempt Bonds. 2. This Resolution shall take effect on the date of its adoption.” Ayes: Heretick, Moody, Psimas, Randall, Smith, Whitehurst, Holley Nays: None 05 - 580 - Adoption of a resolution authorizing the City of Portsmouth’s 2006 Legislative Package be submitted for consideration to the Virginia General Assembly. Vision Principles: Bold New Directions, World Class Maritime Center, Neighborhood and Community Transformation, A Robust and Prospering Economy, Lifelong Learning Community, and Pride of Past Promise of Future. Background: ? The 2006 Legislative Package was presented to City Council, the Portsmouth School Board, and members of the Portsmouth General Assembly Delegation at the November 21, 2005 City Council Public Work Session. Council recommended adding one funding request to the Package for the construction of a sound barrier wall on State Rt. 164E around the Maersk construction site. This item was added and is included in the attached final version of the document. Discussion: ? The following funding requests are included in the City’s 2006 Legislative Package, which if appropriated, would have significant financial impact not only on the City, but on the entire region and State as well: $14 million for the Pinner’s Point Transportation Project; ? $6.3 million to fund the formula adopted by the General Assembly in 2000 ? through legislation that provides impact aid for cities hosting State Port facilities; $4.5 million in match funds to construct a Human Services Integration ? Center; $1 million for assistance in expanding exhibits and programs of the ? Children’s Museum of Virginia; $1.5 million to construct a sound barrier wall on State Route 164 East; and ? $750,000 for a Hoffler Creek Wildlife Preserve Nature Center. ? ? In addition, two Council adopted Resolutions are included for funding of the Western Freeway Rail Relocation project and the “Four For Life” funding for EMS.