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October 10, 1989 <br /> <br /> ~H~REAS, this Council has found said 1990 Communit <br />Development Program's Proposed Statement of Objectives <br />Funds a~d Uniform Displacement Policy appropriate to me <br />needs--ofl the City. and, therefore, accep%able. ~ <br /> N~H, THEREFORE, B~ IT RESOLVED by the Co'~n¢il of t <br />Portsm ~th, Virginia that the 1990 Community Dev~elopmer <br />Propos ~ Statement of Objectives and Use of Funds, and <br />Displa :~ment Policy having been reviewed and considered <br />hereby ~re, approved in all respects and the~Ci~y Manac <br />hereby ~thorlzed to file the Final Statement-of Ob3ect <br />Use of ~nds and any additional information as ~ay be ~ <br />with Department ,of Housing and Urban Development ir <br />obtai ~nding for the Program. <br /> <br /> B ~IT FURTHER RESOLVED that the City Manager is d~ <br />the ce ~ifying officer and authorized representative of <br />of shall p,rovide assurances as required <br />locali by the Act for tne approval of the Pro~ram." <br /> <br />Barnes, Corprew, Gray, Hawks, Lucas, Simpso~ <br />None <br /> <br /> of Mr. Simpson and seconded by Mr. Barn~ <br />resolution was adopted, and by the following <br /> <br /> )N AUTHORIZING THE ISSUANCE OF S12,950, <br />ERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUT5 <br /> THE PURPOSE OF PROVIDING FUNDS TO PAY ~HE COS~ <br />ROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING <br />WITH RESPECT TO THE ISSUANCE AND~iSALE, O~ <br />AMOUNT OF GENERAL OBLIGATION BoND ANTIC] <br />ES IN ANTICIPATION OF THE ISSUANCE AND RECEIPT <br />~EEDS OF SALE OF SUCH BONDS. <br /> <br /> WHEREAS, it is necessary for the City of P~rtsmout <br />(the-- ."C~ty") to provide funds for the public improvemer <br />as hereinafter set forth; and <br /> <br /> ~H~REAS, there are no fun,ds in the treasury of th~ <br />applicable to the payment of the costs of such ~rojects <br />accor~i ~ly, it is <br /> <br />aggre~a <br />to pa~ <br /> <br />provid <br />antici <br /> <br />adopti <br />in acc <br />amende <br /> <br /> 1 <br />V±rgin <br />of the <br />of pu~ <br />paragr <br />twelve <br />aggreg <br /> <br />necessary to authorize the issuance <br />nine hundred fifty thousand dollars ($~2,950,( <br />~ principal amount of general obligatio~ bonds <br />uch costs and in anticipation thereof t~ autho~ <br />for the issuance and sale of general obligatior <br />tion notes; and <br /> <br />REAS, a public hearing has been held with resp~ <br />of this Resolution on October 10, 1989!as req~ <br />~ance with ~15.1-171.1 of the Code of V~rginia, <br /> <br /> THEREFORE, BE IT RESOLVED by the Council of <br />th~ Virginia: <br /> <br />Pursuant to Chapter 5 of Title 15.1 of the Cod <br /> <br />~nd Use of <br />et the <br /> <br />he City of <br />t Program'~ <br />Uniform <br />, be and <br />er is <br />ives and <br />equired <br />order to <br /> <br />signated a~ <br /> the City <br />of the <br /> <br />, Webb <br /> <br />s, the <br />vote: <br /> <br />000 OF <br />, VIRGINIA <br />OF VARIOU <br />AND <br />A LIKE <br />PATION <br />OF THE <br /> <br />t proj <br /> <br />City <br />and, <br />of twelve <br />00) <br />of the Cit <br />· ze and <br /> bond <br /> <br />ct to the <br />ired by an <br /> 1950, as <br /> <br />he City of <br />of <br /> <br />· the same being the Public Finance Act~ and t~e Charter <br />ity, for the purpose of Droviding fundslto pay the costs <br /> improvement projects of the City as set fort in <br /> 3, there are hereby ~uthorlzed to be ~ssued ~nd sol~ <br />illion, nine hundred fifty thousand dollars ($~2,950,~00) <br />~ principal amount of general obligation bonds of the C~t <br /> <br /> <br />