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Stre t
<br />
<br />Priori y
<br />Indust~i~
<br />Public S~
<br />Municila]
<br />If any s%
<br />
<br />Public
<br />of capi
<br />
<br />Directo
<br />officer
<br />and dir
<br />instrumlr
<br />appropr'e
<br />Bonds a
<br />of this
<br />and for
<br />sale.
<br />
<br />this Co
<br />agencs
<br />authori
<br />ratifie
<br />
<br />this re
<br />reason, ·
<br />para,rani
<br />remalnin,
<br />
<br />conflict
<br />
<br /> January 7,
<br /> Pro~ acts
<br />
<br />Curbs, Gutters and
<br />mprovements
<br />
<br />ction Program
<br />and Bconomic Development
<br />Recreation
<br />ecy
<br />Facilities and Community
<br />
<br /> Total
<br />
<br />1991
<br />
<br /> Amount
<br />
<br /> $ 2,236,985
<br /> 12,817,000
<br /> 2,609,045
<br /> 876,077
<br /> 3,165,800
<br /> 305,435
<br />
<br /> 12,989.658
<br /> $35,000,000
<br />
<br />h project shall require less than the enclre respective
<br />forth above, the difference may be applied co pay the
<br />y of the other Drojects so set forth.
<br />
<br />The proceeds of the sale of the General Obligation
<br />lity Bonds shall be applied to the payment of the costs
<br />improvements, extensions and additions to the City's
<br />oducing water and sewerage system.
<br />
<br />City Clerk
<br />City of Portsmouth, Virginia,
<br />
<br />1. The Mayor, the City Clerk, the City Manager, the
<br />f Finance, the City Attorney and other appropriate
<br />employee and agents oflthe City are hereby authorized
<br />ed to take all such action and to execute such
<br />s as shall be deemed by them Co be necessary or
<br />e to effect the printing, execution and issuance of the
<br />the delivery of the Bonds in accordance with the terms
<br />solution upon receipt of the purchase price therefor,
<br /> proper application and use of the proceeds of such
<br />
<br />2. Ail actions and proceedings heretofore taken by
<br />il, the City Manager and the other officers, employees,
<br />attorneys of the City in connection with the
<br />ion, issuance and sale of the Bonds, are hereby
<br />2onfirmed and approved.
<br />
<br />3. If any section, paragraph, clause or provision o~
<br />Jtion shall be held invalid or unenforceable for ~ny
<br />a invalidity or unenforceability of such section,
<br />clause or provision shall not affect any of the
<br />oortions of this resolution.
<br />
<br />t. All ordinances, resolutions and proceedings in
<br />~rein, to the extent of such conflic=, hereby repealed.
<br />
<br />5. The Bonds authorized for issuance hereby are, in
<br />
<br />part, in leu of and in substitution for bo~ds heretofore
<br />author%z~ . by the resolutions of the Council referred to in the
<br />recitals o this resolution. The principal amount of bonds
<br />authoriz~ . in such resolutions, the principal amount of such
<br />bonds ~o] olidated with the Bonds authorized for issuance hereby
<br />and th~ r~maining authorizations under such resolutions are as
<br />folloW:
<br /> (a) Resolution adopt~ on August 11, 1987: ~
<br />
<br />Co)
<br />
<br />Resolution adopted on December 8. 1987:
<br />
<br /> .Amount of ~unoum
<br /> Otieinal Authorization Consolidated
<br />
<br />Authorization
<br />
<br />Totals $7.920.000 $7.920.000 $ 0
<br />
<br />(c)
<br />
<br />Resolution adopted on January 10. i989:
<br />
<br /> Amount of Amounl
<br /> Otiginal Authorization Consolidated
<br />
<br /> Remaining
<br />Authorization
<br />
<br /> $1.149.750 $ 985 $1,148,765
<br /> Education 5,450,000 5,450,000 0
<br /> and Priority
<br /> 1.550,000 0 1350.000
<br />
<br />~Muv. icipal ~ac ities and
<br />
<br />467
<br />
<br />
<br />
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