Minutes 08/11/1987 - Laserfiche WebLink

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..4!8 Augus~ 11, 1987 (g) DOWNTOWN NEIGHBORHOOD: Request for Chris Davies for a parking variance at 464 Dinwidd] Street in the Downtown D-1 District. The applicant wishes to reduce the number of space required for a one (1) unit residential struc- ture from one (1) space to no spaces. Motion of Mrs. Lucas and seconded by Mr. Gray, to concur in the recommendation of the Planning Commission, request for parking variance at 464 Dinwiddie Street in the Downtown D-1 District, was approved on first reading, and was adopted by 5-2 (Nay-Simpson, Web vote. UNFINISHED BUSINESS - 87-299(a) Letter from the City Manager recommending adoption of a resolution authorizing the issuance of $15,000 of General Obligation Bonds of the City of Portsmouth, Virginia for the purpos of providing funds to pay the cost of varicus improvement projects of such City and authorizmng and providing with respect to the issuance and sale of a like principal amount of General Obligation Bond anticipated no~es in anticipation of the issuance and receipt of the proceeds of sale of such bonds. "Submitted herewith for items pertaining ~o Phase II Pines Road project: your consideration are the following of the Western Freeway/Town Point Twin a) A bond resolution authorizing the ~ssuance of $415,000 in general obligation bonds, and b) Final consideration of an appropriation ordinance ~n the amount of 5415,000 to provide funds for the local share of the cost of the project. Enclcsed are copies of letters that I furnished to you pre- viously pertaining to this project. I recommend the bond resolutic and appropriation ordinance for your approval so that this project may proceed." On motion of Mrs. Lucas and seconded by Mr. Gray, the followin resolution was adopted, and by the following vote: "A RESOLUTION AUTHORIZING THE ISSUANCE OF $415,000 OF GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS OF SALE OF SUCH BONDS. WHEREAS, it is necessary for the City of (the "City") to provide funds for the public as hereinafter set forth; and Portsmouth, Virginia improvement pro3ects WHEREAS, there are no funds in the treasury of the City appli- cable to the payment of the costs of such projects and, accordingly it is necessary to authorize the issuance of four hundred fifteen thousand dollars ($415,000) aggregate principal amount of general obligation bonds of the City to pay such costs and in anticipation thereof to authorize and provide for the issuance and sale of general obligation bond anticipation notes; and WHEREAS, a public hearing has been held with respect to the adoption of this Resclution on August 11, 1987 as required by and in accordance with 515.1-171.1 of the Code of Virginia, 1950, as amended.