Minutes 02/23/2010 - Laserfiche WebLink

Home Browse Search

February 23. 2010 Next Steps Following Council Action: . If the requested appropriation is approved, the Director of BHS will ensure the Shelter Plus Care and Supportive Housing Grant Programs will continue to provide housing services to homeless consumers they serve. Motion by Mr. Moody, and seconded by Ms. Randall, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE ACCEPTING A MCKINNEY-VENTO HOMELESS ASSISTANCE ACT SHELTER PLUS GRANT IN THE AMOUNT OF $401,413 AND A MCKINNEY-VENTO HOMELESS ASSITANCE ACT SUPPORTIVE HOUSING PROGRAM GRANT IN THE AMOUNT OF $69,013 FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AND APPROPRIATING SAID FUNDS TOTALING $470,425 IN THE FY 2009-2010 GRANTS FUND FOR THE SHELTER PLUS CARE AND SUPPORTIVE HOUSING PROGRAMS." Ayes: Heretick, Moody, Psi mas, Randall, Smith, Whitehurst, Holley Nays: None 10 - 85 - Adoption of an ordinance of the City Council of the City of Portsmouth, Virginia authorizing the issuance and sale of not to exceed $58,000,000 aggregate principal amount of General Obligation Public Improvement Bonds. Vision Principles: Thriving Neighborhoods and a Sense of Community; A Robust and Prospering Economy. Background: . The City is preparing to issue general obligation bonds and notes for these projects in the capital improvement program. City Council received a briefing on this proposed financing from Davenport & Company, the City's financial advisors, at the Public Work Session on February 9, 2010. Discussion: . This proposed bond issuance will be used to finance the costs of the planning, design, acquisition, construction, and equipping of various capital improvement projects of the City, including without limitation drainage and street facilities, educational facilities, industrial and economic development facilities, leisure services facilities, general municipal facilities, and parking facilities, and the costs of issuing the Bonds. The issuance of bonds to help fund these CIP projects was planned and appropriated, and passage of this ordinance is a continuation of this financial plan. Financial Impact: . The additional bond funds will expand the services being delivered. The issuance of these bonds is in compliance with City Council's adopted financial policies. Recommended Action: . Conduct the public hearing and receive comment. . At the conclusion of the public hearing, adopt the attached ordinance authorizing the issuance of General Obligation Bonds and Notes in an amount not to exceed $58,000,000. Vision Principles: Thriving Neighborhoods and a Sense of Community; A Robust and Prospering Economy. Next Steps Following Council Action: . The Chief Financial Officer will ensure the relevant reimbursements are made and all funds are appropriately disbursed. Motion by Ms. Psi mas, and seconded by Mr. Heretick, to adopt the following ordinance, and was adopted by the following vote: