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253
<br />
<br />April 14, 1987
<br />
<br /> (b) The City Attorney of the City is directed ~o
<br />file a.copy of this-resolution, certified by the City Clerk:
<br />of t~e Cfty ~o be a tr~ ~o~ hereof, with the Clerk of the
<br />Circuit Court of the City of Portsmouth, ~irginia, and such
<br />Cit~ Clerk is directed to publish once within ten (10) days
<br />of the date of filing of such resolution a notice with
<br />respect thereto in The Virginian Pilot, a newspaper of
<br />general circulation'in the City, in accordance with Section
<br />15.1-199 of the Code of Virginia, 1950, as amended. Such
<br />notice Shall be in substantially the following form:
<br />
<br />"LEGAL NOTICE
<br />
<br /> Notice is hereby given pursuant to Section
<br />15.1-199 of the Code of ~irginia, 1950, as amended, that the
<br />Council of the City of Portsmouth~ Virginia, adopted on
<br />April 14, 1987, a resolution authorizing the issuance, as a
<br />· whole at one time or in part from time to time, $7,135,000
<br />aggregate principal ~aoant of general obligation Public
<br />Improvement Bonds and caused a certified copy of such
<br />resolution ~to be filed with the Circuit Court of the City of
<br />Port~uouth on April __, 1987.
<br />
<br /> The proceeds of sale of such general obligation
<br />Public Improvement Bonds shall be applied eo the payment of
<br />the costs of the public improvemenu projects described below
<br />in substantially the ~aounus set forth opposite
<br />descriptions of the respective projects: the
<br />
<br /> PR__OqECTS
<br />
<br />Community Services
<br />Education
<br />Pa~ks and Recreation
<br />Drainage, Curbs, Gutters and
<br /> Street !mprovemenus
<br />Urban Renewal and Priority Action
<br /> Programs
<br />Industrial and Economic Development
<br />
<br /> ..AMOUNT
<br />
<br />$ 565,747
<br /> 246,000
<br /> $,639,400
<br />
<br />4,271,137
<br />
<br /> 300,000
<br /> $12,7%6
<br />$7,}35,000
<br />
<br />provided, that if any such project shall require less than
<br />the entire respective ~mounu se~ forth above, the difference
<br />may be applied ~o pay the cost of any other proj ccc so sez
<br />forth. _
<br />
<br /> City Clerk
<br /> City of Portsmouth, Virginia"
<br />
<br /> ]~. Ail ordinances, resolutions and proceedings in
<br />conflict with the provisions of this resolution (including,
<br />without limitation, any such provisions specifying the
<br />manner in which the Bonds are =o be sold or requiring the.
<br />ratification by the Council ~f the sale of the Bonds and the
<br />detailsrepealed, thereof) are, no the extent of such conflict, hereby
<br />
<br /> 14. This resolution shall supersede all previous
<br /> resolutions adopted by the Council authorizing the issuance
<br /> of general obligation bonds of the City with, and only with,
<br /> respect to provisions of suck resolutions relating to Bonds
<br /> authorized but nee heretofore issued. In particular, the
<br /> Bonds authorized hereby are in lieu of and ih substitution
<br /> for bonds heretofore authorized' by resolutions of the
<br /> Council adopted on October 1-4, ~986 and November 25, 1986
<br /> authorizing the issuance of general obligation bonds to
<br /> finance various public improvement projects of the City in
<br />- the princtpal amounts of ~5~470,000 and $1,665,000,
<br /> respectively. The bonds authorized
<br /> shall not he or deemed to be in addition, to the bon~s
<br /> authorized hereby. .
<br />
<br /> 5. Th~s resol~t,on shall take ~f~ect
<br /> date of its adoption " from the
<br />
<br /> .' ' . ,
<br /> Nays: lqone .t~ ~ ray, aucas, Slnpson,
<br />
<br />
<br />
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