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Tuesday, <br /> M~yl <br /> L <br /> S <br /> <br /> A] <br /> Ti <br /> <br />held ii <br />801 Cr~ <br />purpos~ <br />Genera <br /> <br />Sessio! <br /> <br /> B~ <br /> <br />to <br /> <br />report <br />meetin~ i <br />Commis~i, <br />informai <br />concur~] <br />C°mmisl : <br /> 91,1 <br />Virginia <br />do!lar~ <br />Public/Il <br />($10;0~0 <br />Utilit~ <br /> <br />$35,00i},i <br />$10,00~),1 <br />This r( .~si <br />of our <br /> <br /> A' <br />bonds, <br />Commis:~i~ <br />you on <br />inform~ <br />at <br /> <br /> Sl <br />inform~ <br /> <br /> M( <br />resolu <br />followl <br /> <br />475 <br /> <br /> January 8, 1991 <br />special Called Meeting of the City Council !hel[d on <br />January 8, 1991~ at noon, there were present: <br /> <br />,r Gloria O. Webb, Vice Mayor E. G. Corprew, Jr <br /> H. Epperson, James C. Hawks, Lee E. King, <br />0ouise Lucas, V. Wayne Orton, City Manager, <br /> <br />irt E. Katz, City Attorney <br /> <br />~nt: Johnny M. Clemons ~ <br />invocation was given by Vice Mayor E. G. Co'pr <br /> <br />~ase attend a Called Meeting of the CiSy Cou~ci <br />;he City Council Conference Room, 6th floor Of <br />!ord Street, Tuesday, January 8, 1991~ at 12 !no <br />~f considering bids for the sale of $45 milliion <br />)bliuation Bonds. <br /> <br />tddition you may consider a motion to go int~ a <br /> <br />~rder of the Mayor." <br /> <br />Orton gave a brief statement concerning the !pr <br />[se the bonds. <br /> <br /> w, Jr. <br /> <br />[ to be <br />]ity Hall, <br />Dn, for the <br /> dollars of <br /> <br />)posal <br /> <br />;t Morgan, Chairman of the Municipal Finance !Co amission <br />that the Commission had reviewed the proposals at its <br />~f January 8, 1991 and the recommendation of <br />~n for the ~ ~a!e i of the Bonds. Mr. Orton~pir~vided the <br />.on necesary to complete the Resolution and ~i~ <br />ice with the recommendation of the Municipal~F!ilance <br /> <br />!0 - Resolution of the Council of the uity of~ Portsmouth, <br /> accepting a proposal to purchase thirty-fi~e million <br />$35,000,000) principal amount of General Oblliggtion <br />tprovement Bonds, Series 1991, and Ten MilliOn Dollars <br />000) principal amount of General Obligation iPuDlic <br />~onds, Series 1991.' <br /> <br />attached resolution accepts a proposal to ~ur~hase the <br />)0 Of General Obligation Public Improvement iBo%ds and <br />~00 of General Obligation Public Utility Bonds. <br />~lution is the last part of tne process for ~he issuance <br /> <br />;he n~me of the opening of the bids for the sial~ of tne <br />~d afner review of the proposals by the Munidipll Finance <br />~n and the staff, a recommendation will be p~ovlded to <br />te acceptance of one of the proposals. The ~e¢ ]ired <br />.on necessary to complete the resolution willI provided <br /> <br />tld you have any questions or desire addition <br />.on, please let me know." <br /> <br />.on of Mr. Hawks and seconded by Mrs. Lucas, <br />~n was adopted on first and final reading, ar <br /> vote: <br /> <br />the <br /> <br /> <br />