Minutes 03/10/1992 - Laserfiche WebLink

Home Browse Search

March 10, 1992 WHEREAS, the Council of the City of Portsmouth, Virginia, ha~ determined to seek the approval of the State Council on Local Debt {the "State Council") of the of the refunding bonds for the purpose of advance refunding the Refunded 1985 Public Improvement Bonds and the Refunded 1985 Public Utility Bonds, as required by Section 15.1-227,~6 of. the Code of ¥irginia, 1950; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Port~nouth¢ :Vir~nia, as :fOllows: - sECtIoN L Approval o[ Refunding o/Refunded 1985 Public Improvement Bonds, Refunded1985 Public Utility Bonds and Refunded 1975 Port Improvement Bonds. The Coutmil hereby authorizes the advance refunding of the Refunded 1985 Public Improvement Bonds and the Refunded 1985 Public Utilit~ Bonds and the current refunding of Refunded 1975 Po~ Impf0Vement Bonds. - SECTION 2. State Council on Local Debt Approvat The Direaor of Finance and other appropriate officials of the City are hereby authorized and directed to present a plan of refunding with respect to the advance refunding the Refunded 1985 Public Improvement ~Bonds and the Refunded 1985 Public Utility Bonds to the State Council and to seek the apprOVal of the State Council of the issuance of advance refunding bonds pursuant to Section 15.1-227.46 of the Code of Virginia, 1950, and the "Guidelines for Approval of. Refunding Bonds by the State Council on Local Debt" adopted by the State Council on Local Debt on November 20, 1991~ 'The City is hereby authorized to pay any fees and expenses of the State Council in connection, therewith. - SECTION 3. Effectiveness o[Resolution. This resolntlon shall take effect upon Ayes: Clemons, Corprew, Epperson, King, Hawks, Williams, Webb Nays: None 92-96 Letter from the City Manager recommending adoption of a motion to transfer $100,000 from the Grants Contingency Account for the Community Diversion Incentive Program. "I am pleased to inform you that the State Department 0f Corrections has approved a Community Diversion Incentive Program for the City of Portsmouth. This program, which has been funded for $100,000, is funded by the State and requires no local match. These funds are made available through the Community Diver Incentive Act and will provide resources to local governments to plan, develop and deliver community-based services. The program is directed only at non-violent offenders. Participants in the program will be required to provide commu- nity service under intensive supervision. One of the most unique features of the Act is the C- ommunity Corrections Resources Board, which consiSts of representatives from criminal justice agencies, the public and private sector, and private citizens. Citizens make up the largest representation on the Board because greater citizen participation is one of the major goals of the Act.