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229
<br />
<br /> January 28, 1992
<br />
<br /> At a Special Called Meeting of the City Council heild on
<br />Tuesday, January 28, 1992, at 1:00 p.m. there were present:
<br />
<br /> Mayor Gloria O. Webb, Vice Mayor E. G. Corprew, Jrl.,
<br /> Johnny M. Clemons, John H. Epperson, James, C. Hawks,
<br /> Lee E. King, V. Wayne Orton, City Manager, Stuart E. Katz,
<br /> City Attorney i
<br />
<br /> Absent: Junius Williams
<br />
<br /> The invocation was given by Vice Mayor E. G. Corpr~w, Jr.
<br /> 92-38 - The following call for the meeting was reap:
<br />
<br /> "Please attend a Called Meeting of the City Counci~ to be
<br />held in the City Council Conference Room, 6th floor of ~ity Hall,
<br />801 Crawford Street, Tuesday, January 28, 1992 at 1:00 p.m., for
<br />the purpose of Considering bids for the sale of $23,035!,000 in
<br />General Obligation Bonds and $7,615,000 in General Obligation Publ
<br />Utility Bonds.
<br />
<br /> In addition you may cohsider a motion to go into
<br />Session.
<br />
<br />By order of the Mayor~'~
<br />
<br />Mr. Orton, provided the information necessary to comple
<br />resolution and his concurrence with the recommendation
<br />Municipal Finance Commission, to award the bid to First
<br />Corporation.
<br />
<br />92-38 -
<br />
<br />A Resolution of the Council of the City of Por
<br />Virginia accepting a proposal to purchase twen
<br />million thirty-five thousand dollars ($23,035,~
<br />principal amount of General Obligation Public
<br />ment Bonds, Series 1992, and seven million six
<br />
<br />aD Executiw
<br />
<br />~e the
<br />Df the
<br /> Boston
<br />
<br />~mouth,
<br />y-three
<br />
<br />~prove-
<br />~undred
<br />
<br /> fifteen thousand dollars ($7,615,000) principal amount
<br /> of General Obligation Public Utility Bonds, Series 1992,
<br /> of the City of Portsmouth, Virginia; fixing the rates
<br /> of interest to be borne by such bonds; approving and
<br /> authorizing the distribution of an official sta':ement
<br /> relating to such bonds; authorizing the executi?n of
<br /> certificates relating to such official statemen ; and
<br /> ratifying certain acts in connection with the sale of
<br /> such bonds.
<br />
<br /> "The attached draft resolution will be used to acc pt a
<br />proposal to purchase the twenty-three million thirty-fiTe thousan¢
<br />dollars ($23,035,000) principal amount of General Obligation
<br />Public Improvement Bonds, Series 1992, and seven millio six
<br />hundred fifteen thousand dollars ($7,615,000) principal amount of
<br />General Obligation Public Utility Bonds, Series 1992.
<br />
<br /> At the time of the opening of the bids for the sal.
<br />bonds, and after review of the proposals by the Municip
<br />Commission and the staff, a recommendation will be prov
<br />on the acceptance of one of the proposals. The require,
<br />information necessary to complete the resolution will be
<br />at your meeting.
<br />
<br /> Should you have any questions or desire additional
<br />information, please let me know."
<br />
<br /> of the
<br />Finance
<br />!ded to you
<br />
<br />provided
<br />
<br />
<br />
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