Minutes 05/24/1988 - Laserfiche WebLink

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May 24, 1988 I, therefore, concur and recommend appropriation of the necessary funds and award of the contract to the low bidder." 'On motion of Mr. Williams and seconded by Mrs. Lucas, the following ordinance was approved on first reading, and the contract be awarded to Utility Builders,!Ine., the low bidder, by unanimous Vote: ~ "AN ORDINANCE TO APPROPRIATE $542,547 FOR THE CONSTRUCTION OF DRAINAGE AND~STREET IMPROVEMENTS IN THE DOUGLAS PARK AND CHOATE STREET AREA AND AWARD OF CONTRACT TO RESPONSIBLE LOW BIDDER." 88-206 - Letter from the City'Manager're~ommending'adoption of an ordinance to close a ~ortion Of Avondale ROad~ ~ "Calvar~ Evangelical Baptist Ch6rch has made application to close a portion of Avondale Road. The viewers previously appointed by Council have recommended approval of the application. The Planning Commission concurs in this recommendation. I recommend Avondale Road as utility easement adoption of the ordinance closing a portion requested by the applicant and requesting a for the City~;'' of On motion of Mr. Corprew and seconded by Mr. Williams, the following ordinance was adopted on first and final reading, and by the following vote: "AN ORDINANCE TO CLOSE A PORTION OF AVONDALE ROAD." Ayes: Barnes, Corprew, Gray. Lucas, Simpson, Williams, Webb Nays: None 88-207 - Letter from the City Manager recommendin§ adoption of a resolution authorizing PRHA-Proposed refunding bond Independent Square Associates. "Independence Square Associates has requested the Portsmouth Redevelopment and Housing Authority to issue its'bonds in an amount not to exceed $4,085,000 in order to refinance the Independence Square pro~ect. The purpose of the re-financing is to achieve a lower interest rate. When the bonds were originally issued by PRHA there was a provision that if the interest rate went up the bonds could be re-financed. In order for the Portsmouth Redevelopment and Housing Authority to issue bonds for this re-financing the approval of the City Council is necessary. The Authority has conducted a public hearing in accordance with the applicable legal requirements. In accordance with the request of the Executive Director of the Portsmouth Redevelopment and Housing authority, I recommend that the City Council adopt the attached resolution authorizing the Authority to issue its bonds."