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April 25, 2000 <br /> <br />1. Raleigh Harsley, 2124 Peach Street, requested funding for potholes and 8-inch <br /> pipeline in center of street in the area and for sidewalks. <br /> <br /> Motion by Mr. Whitehurst, and seconded by Mr. Pitts, to adopt the following <br />resolutions and ordinance, and was adopted by the following vote: <br /> <br />00-95(A): <br /> <br />"A RESOLUTION APPROVING THE FIVE YEAR CAPITAL IMPROVEMENT PLAN <br />FOR 2000-01 THROUGH 2004-05, AND THE ONE YEAR CAPITAL IMPROVEMENT <br />PROGRAM FOR 2000-01. <br /> <br /> WHEREAS, the City Manager has submitted to the City Council the Capital <br />Improvement Plan for 2000-01 through 2004-05, and the one year Capital Improvement <br />Program for 2000-01; and <br /> <br /> WHEREAS, the Planning Commission has reviewed and commented on the Plan <br />and the Program; and <br /> <br /> WHEREAS, a public hearing has been held to receive public comments on the <br />five-year Capital Improvement Plan and on the one-year Capital Improvement Program; <br />and <br /> <br /> WHEREAS, the Council has considered the five-year Capital Improvement Plan <br />and the one-year Capital Improvement Program and finds them to be in the proper form <br />and expressive of Council policies in regard to necessary capital improvements. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia that the aforesaid Capital Improvement Plan for the years 2000-01 <br />through 2004-05 and the one-year Capital Improvement Program for 2000-01 are <br />approved." <br /> <br />00-95(B): <br /> <br />"A RESOLUTION AUTHORIZING THE ISSUANCE OF $5,640,000.00 GENERAL <br />OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE CITY OF PORTSMOUTH, <br />VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF <br />VARIOUS PUBLIC IMPROVEMENT PROJECTS FOR THE CITY; AND <br />AUTHORIZING AND PROVIDING FOR THE ISSUANCE AND SALE OF A LIKE <br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES <br />IN ANTICIPATION OF THE ISSUANCE AND SALE OF SUCH BONDS. <br /> <br /> WHEREAS, in the judgment of the Council (the "Council") of the City of <br />Portsmouth, Virginia (the "City"), it is desirable to authorize the issuance of five million <br />six hundred forty thousand dollars ($5,640,000.00) aggregate principal amount of <br />general obligation public improvement bonds of the City to provide funds to pay the <br />costs of various public improvement projects for the City and, in anticipation of the <br />issuance of such bonds, to authorize and provide for the issuance and sale of general <br />obligation public improvement bond anticipation notes; and <br /> <br /> WHEREAS, a public hearing has been held with respect to the adoption of this <br />resolution on April 25, 2000, as required by and in accordance with Section 15.2-2606.A <br />of the Code of Virginia, 1950; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia, that: <br /> <br /> 1. Pursuant to Chapter 26 of Title 15.2 of the Code of Virginia, 1950 (the <br />same being the Public Finance Act of 1991), for the purpose of providing funds to pay <br />the costs of various public improvement projects for the City, there are hereby <br />authorized to be issued and sold five million six hundred forty thousand dollars <br />($5,640,000.00) aggregate principal amount of general obligation public improvement <br />bonds of the City (the "Bonds"). <br /> <br /> <br />