Minutes 12/10/1991 - Laserfiche WebLink

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1-98 D~cember~10,,'.1991v WHEREAS; ~the ~)wn~r-'has provided~'evid~nder'sati~fact°ry*~O the Director of F'ih~nce;~0f the Ci[ty--of?the ownership o.f SUCh WHEREAS; ~t~ b(~nd~'~tO which'so~h?inter~st' cOupons~ ........ appert~in-~a~e..~.t%n~.;(l~)~ City of, PorqsmoUZh[~*~Virgin~ia~*P~r% ~: Impro~m~n~<~B~,~Series of~ 1975'?'suCh bon~s be.in~ d~te~ October~t5~;,~19.7$,~m~*t~r~g 'and be~om~i~g~ due~and pay~l~n~ ~ November~,~000,~be~r~g inte~es~~*at~ ,the~ra~e~ of seveh~a~d sixty- f i~e h~h~re~t~hs''' Pe~r cen%um~ (7.% 65-~~) ~ pe~r annU~ n~e~ed ~,E.~EA~S, S%*~io~[ 15.1=2'27,~~3, C6~ ~ Vi~gi~n~ia*~ t9505*~ provides f~o~he'~iss~a~%~e of~ a snbs't~it~t~iom bond four th%~ replacement of lost or stolen bonds and the interest coupons, if an~ ~app%*~'i*nin'g~ t-her~to'~ and~ *thm~aymemt' of ~uck~ bon'd*s~ and interest coupons then due upon compliance with the pro~sions * of such section; NOW, THERE'FO~E% :~E~ YT RESOLVE*D ~Y~ t'he~ou~cfl o~%~ C*i'ty~ of Portsmouth, Virginia, that the Director of Finance of the City is hereby authorized to pay to thC Owner $1,912.50, being the amount of the interest on the above-described bonds represented by the above-described interest coupons, pursuant to the provisions of Section 15.1-227.23, Code of Virginia, ~es: 'C~f~s / 'C~'*,=,S~e~s°h, King;" '~'sXk:s~' ~cas, Xebb g'l=~*~2 =~-Le.~e~r;~-fr6m the city ~fiag'~r: 're*commending~ '' adoption ~f"a ~ot~io~ transferring $87,709 *from the Grants Conting~'e~y A:cd,o~nt'~fO~ ~the c0nt~nued'~fund~ng of the Ports~bRt:~=~or~ol~k Multi~J~riSdi~cti.on- GrSnd Jury .(MJGJ,)-~ ~ "The Portsmouth-Norfolk Multi-Jurisdiction Grand Jury (MJGJ) ~ef~h'g ou~'~f'~he office -of our ~ommonwealthls ~* Attorney';' ha~ been awarded a grant"~o~ continued fund-ing of ~he preseht p~ogram from the Department of Criminal Justice ServLce~. ~Thi'~''gra'~:t award is four $87~709/:'and requires *~o city The program has just comple'ted ~it~ first start-up~o~gani~ zational year. The MJGJ is organized to prosecute higher level interdity~*~a.rcoticS"traffic by coordinating police,'proseeutor, and co6r~' re'soUrces,'' The progra~ gOals, for 1991-92 include the impan~ri*ng '6f a~'i~erci'ty grand*~j'ury~tO investigate and.ind~i~% higher-level drug dealers, I hereby recommend the approval of t~is grant award and the tr~h~fe~of"$87,70g from the:,Grahts COntingency Account to suppor~ ~hls operation. ~J[{o~f M~.~ King~and se~°nd~d~bi Mr; Hawks, to authorize to' tran~'~7,7~ f~ the Gr~h~ C~n%Ih~ney ACcoumt~ ~o~ the continued funding of the MJGJ;~ e~q~tedy' and was adopted by the fol~owigg vote: Ayes: Clemons,~C~r~reW~ Epperson~ King, Hawks, Lucas,* Webb Nays: None 9-i=4~3~ -'~Lett~r~f~m the City~ Manage*r,~eco~endi~g adopt-ioh~ ~' ~ m~%ion' %u'bmitting 'th~e Comp~rene'nsive Annual Financial Report for the fiscal yea~r end*i~ng June 30, 199-t- and the Quarterly Reports for the periods ended June 30, 1991 and September 30, 1991.