Minutes 08/23/2016 - Laserfiche WebLink

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August 23, 2016 15. That the City Manager, Chief Financial Officer, and such other officers and agents of the City as the City Manager or Chief Financial Officer may designate, are authorized and directed to take further action as they deem necessary or appropriate regarding the issuance, credit enhancement and sale of the Bonds, including the preparation, execution and delivery of instruments, agreements and documents related to the issuance and sale of any series of the Bonds, the purchase of municipal bond insurance or other credit enhancement for any series of the Bonds if market or other conditions so warrant, the establishment, funding and investment of any construction, project or sinking funds to be established with respect to any series of the Bonds, and the acquisition of forward purchase or supply arrangements relating the investment of the proceeds of any series of the Bonds. All actions taken by officers and agents of the City in connection with the issuance and sale of the Bonds are hereby ratified and confirmed. The authorizations granted in this ordinance to the City Manager and Chief Financial Officer may be carried out by any Deputy or Assistant City Manager, as appropriate, in the absence of the primary officers. 16. That the City Attorney of the City is authorized and directed to file a certified copy of this resolution with the Circuit Court of the City pursuant to Sections 15.2-2607 and 15.2-2627 of the Virginia Code. 17. That the Council hereby elects pursuant to Section 15.2-2601 of the Virginia Code to issue the Bonds under the Public Finance Act of 1991, Chapter 26, Title 15.2 of the Virginia Code without regard to the requirements, restrictions or other provisions contained in the Charter of the City. BE IT FURTHER RESOLVED by the Council of the City of Portsmouth, Virginia that this resolution shall take effect immediately upon the date of its adoption.” Ayes: Cherry, Edmonds, Moody, Psimas, Whitaker, Wright Nays: None - New Business - 16 - 272 - Boards and Commissions There were no appointments 16 - 273 - Items Submitted by Council Members Mayor Wright spoke on the following:   Congratulated all the Olympians that competed in the Olympics in Rio De Janeiro, Brazil.  He also congratulated LaShawn Merritt, Woodrow Wilson High School graduate, on winning a gold medal in the 4x400 meter relay and a bronze medal in the 400 meter race. He informed citizens and City Council of an upcoming celebration for Mr. Merritt.  Welcomed 130 new school teachers to Portsmouth.  Congratulated Fire Department academy graduates.  Portsmouth schools convocation, Thursday, August 25 at Willett Hall.  Top Cop Mothers Against Drunk Drivers dinner at the Founders Inn. Motion by Ms. Psimas, and seconded by Mr. Moody, to add an item to the agenda regarding the Rules of Order and Procedure for the Portsmouth City Council, and was denied by the following vote: Ayes: Cherry, Whitaker, Wright Nays: Edmonds, Moody, Psimas Motion by Mr. Moody, and seconded by Ms. Psimas, to add an item to the agenda to eliminate Section XXIII paragraph b, pertaining to the fining of $1500 by a majority vote of City Council, and was denied by the following vote: