Minutes 10/09/2018 - Laserfiche WebLink

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October 9, 2018 13. That no charge shall be made for any exchange or transfer of Bonds, but the Bond Registrar may require payment by the person requesting the exchange or transfer of a sum sufficient to cover any tax or other governmental charge which may be imposed with respect to the exchange or transfer of such Bonds. 14. 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 to 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. 15. 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. 16. 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: Clark, Lucas-Burke, Moody, Psimas, Smith, Rowe Nays: None 18 - 389 - Adoption of a resolution authorizing the conveyance of a 0.204 acre portion of the Speights Run Reservoir to the City of Suffolk and related easements to the City of Suffolk, Dominion Energy Virginia and Verizon Virginia, LLC in furtherance of the widening and improvement of Route 58, and further authorizing the City Manager to execute a sales agreement and all deed(s) and other documents necessary to effectuate the intent of this resolution. Background:  The City of Suffolk is preparing to improve and widen Holland Road, Route 58.  The improvements require the acquisition of title to additional land along the north side of Route 58 as it is currently configured, and easements for construction, maintenance and utilities. Discussion:  The City of Suffolk has presented the City of Portsmouth a proposed Agreement of Sale which provides for the City of Portsmouth to convey to the City of Suffolk 0.204 acre, or 8,900 square feet, in fee simple and permanent easements for maintenance, a temporary easement for construction, and a joint easement to Dominion Energy Virginia and Verizon Virginia, LLC for utilities.  One permanent easement is for maintenance of drainage and covers an area 0.193 acre, or 8,411 square feet. The second permanent easement is for maintenance of a slope and covers an area of 0.075 acre, or 3,263 square feet.  A temporary easement is required for construction of the improvements until their completion and covers an area of 0.059 acre, or 2,585 square feet.