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24§
<br />
<br />January 28, 1986
<br />
<br /> WHEREAS, a copy
<br />terms and conditions
<br />has been provided ro
<br />
<br />of PPIC's~ resolution approving the issuanse of the Bonds,
<br />contained therein, and the appropriate certifications and
<br />City Councillfor their consideration.
<br />
<br />subject to the
<br />d~cumentations
<br />
<br /> WHEREAS, the Council of the City of Portsmoutk, Virginia acknowledges that the City of
<br />Portsmouth has not received its 1956 local Industrial Development Revenue Bond allocation
<br />pursuant to the Deficit Reduction Act of 1985 and that, therefore, the adoption of this
<br />resolution does not constitute an allocation of the City's local Bond allocation or any portion
<br />thereof.
<br />
<br /> NOW, THEREFORE, BE
<br />the Council approves the
<br />benefit of the "Company"
<br />the "Project".
<br />
<br />IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />issuance of Industrial Development Revenue Bonds by the PPIC for the
<br />to assist in financing the acquisition, construction and equipping of
<br />
<br /> BK IT FURTHER RESOLVED that the approval of the issuance of the Bonds as required by the
<br />applicable federal and state laws does not constitute an endorsement of the Bonds, financial
<br />viability of the facility or the credit worthiness of the Company, but, as required by
<br />Section 15.1-1380 of the Code of Virginia, 1950, as amended, the Bonds shall provide that
<br />neither the Commonwealth of Virginia, the City of Portsmouth, nor PPIC shall be obligated to
<br />pay the bonds or the interest thereon or other costs incident thereto except from the revenues
<br />and monies pledged therefor, and neither the faith or credit of the taxing power of the
<br />Commonwealth, the City, nor the PPIC shall be pledged thereto.
<br />
<br />This resolution shall take effect immediately upon its adoption."
<br />
<br />Ayes: Beamer, CorFrew, Gray, Lucas, Webb, Whitlow, Holley
<br />Nays: None
<br />
<br /> 86-38 Letter from the City Manager recommending adoption of a resolution authorizing the
<br />City Manager to sign an easement agreement with the Department of the Navy for installation of
<br />utility lines.
<br />
<br /> "The Navy has requested an easement for the purpose of installing a waterline across
<br />Elm Avenue from its existing deep water well to the Navy Yard property. The Nave has agreed
<br />pay all costs in connection with the installation of this waterline including repairs to Elm
<br />Avenue and realignment of the waterline in the event of future alterations to Elm Avenue.
<br />
<br />te
<br />
<br /> The City's Public Utilities Director supports this request and the City Attorney has pre-
<br />pared the attached resolution; therefore, I recommend your approval."
<br />
<br /> On motion af~Mr. Beamer, and seconded by Mrs. Lucas, the following resolution was adopted
<br />and by the f¢llowing vote:
<br />
<br />"A RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN AN EASEMENT AGREEMENT WITH THE
<br />DEPARTMENT OF THE NAVY FOR INSTALLATION OF UTILITY LINES.
<br />
<br /> WHEREAS, the Department of the Navy has requested authorization to install utility lines
<br />within the right-of-way of Elm Avenue; and
<br />
<br /> WHEREAS, the Department of the Navy has agreed to pay all costs in connection with the
<br />installation of said utility line including the cost of relocating said utility line in the
<br />event that the City makes any future alterations to Elm Avenue.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />the City Manager be, and hereby ks, authorized to s~gn an Easement Agreement with the DeF
<br />of the Navy for installation of utility iines on the following described property, to-wit:
<br />
<br />the City of Portsmouth, Virginia, containing approximately 484.65 square feet or
<br />0.011 of an acre of land, more or less, and being more particularly described as
<br />follows:
<br />
<br /> BEGINNING at a point located on the southerly side of Elm Avenue (60' right-of-
<br />way) and that the northeast corner of U.S. Navy property: thence, leaving said point
<br />and running N86o 50' 28" W, 2.23 feet to a point, said point bein~ the TRUE POINT OF
<br />BgGINNING; thence, leaving said point and runnin~ along the following two (2) courses
<br />and distances: N86° 80' 28" W, 10.01 feet to a point; thence, N06° 17' 23" E, 49.52
<br />fee~ to a point; thence, on a curve to the left, having a radius o~ 156.07 feet and
<br />an arc length of 10.11 feet to a point, said point being situate NO6o 17' 23" E, 47.52
<br />[eet from the TRUE POINT OF BEGINNING: thence, leaving said point and running S06° 17,
<br />23" W, 47.52 feet to the TRUE POINT OF BEGINNING, containing approximately 484.65
<br />square feet or 0.011 of an acre of land, more or less, and bein~ as shown mn yellow
<br />on the drawing entitled "PLAT SHOWING 10' UTILITY EASE~ENT FOR WATER MAIN INSTALLATION
<br />& MAINTENANC~ - GRANT OF EASEMENT TO THE UNITED STATES NAVY BY THE CITY OF PORTSMOUTH,
<br />VIRGINIA", dated 25 September 1985, and attached hereto and made a part hereof Exhibit
<br />
<br />Ayes: Beamer, Corprew, Gray, Lucas, Webb, Whitlow, Holley
<br />Nays: None
<br />
<br />
<br />
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