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April 2~, 1993 <br /> <br />0 67 <br /> <br /> ~ort~ou'thhas re-en%~r~d th~-competitive arena in; Hampton <br />Roads~ Systematically, Ye h~e' been more competitiv~ in leisure, <br />social and+'~donOmi¢ activities.~e hav~ demonstrated our ability <br />and Willingness %o ad'apt to unfolding :changes; In November 1992, <br /> <br />early as July 1990, the elected leadership of our City knew that <br />it was time:'for t~is type of fundamental ~nd common !~ense change <br />in Portsmouth, and. directed staff ~o st~rt~,re~po~ing quickly to <br />chang;ing conditions and citizen n~eds. ~O~ c-~itics canbelittle <br />our s~ccesses, but they :cannot deny our-results. <br /> <br /> JUst' ~ince January 1,' 1993, hhe co~t of local 'qoverr~men~ in <br />Portsmouth, :Virginia has beeh'reduced by $1,017,463 by efficiency <br />actzon~through:Qur Resource Alloeatlon:Prog~am agd bond. <br />refunding. I~ ~e coming year, our budgetary savings WiLl be' <br />$1,673,305 as ~::result of o~r bond refu.nding~action$. <br /> <br /> <br />