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not to exceed Three Million, Three Hundred Thousand Dollars ($3,300,000) to assist in the
<br />financing of the acquisition, renovation, and equipping of an office and warehouse facility
<br />Cthe "facility"), contining approximately 122,000 square feet of space and located at 1300
<br />Court Street, Portsmouth, Virginia, to be used by the Company in its business of importing
<br />and distributing goods, and has held a public hearing thereon on August 31, 1984; and
<br />
<br /> WHEREAS, the IDA has requested City Council to approve the
<br />comply with the applicable federal and state laws; and
<br />
<br />issuance of the bonds to
<br />
<br /> WHEREAS, a copy of IDA's resolution approving the issuance of the bonds, subject to
<br />the terms and conditions contained therein, and the appropriate certifications and documenta-
<br />tions have been provided to City Counail for their consideration.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia,
<br />that the Council approves the issuance of Industrial Development Revenue Bonds by the
<br />Portsmouth Development Authority for the benefit of Collins Company, Ltd. to assist in the
<br />financing of the acquisition, renovation, and equipping of the facility to be located at
<br />1300 Court Street, Portsmouth, Virginia.
<br />
<br /> BE IT FURTHER RESOLVED that the approval of the issuance of the bonds as required by
<br />the applicable federal and state laws does not constitute an endorsement of the bonds,
<br />financial viability of the facility, or the credit worthiness of Collins Company, Ltd.,
<br />but as required by ~15.1-1380 of the Code of Virginia, 1950, as amended, the bonds shall
<br />provide that neither the Commonwealth of Virginia, the City of Portsmouth, nor IDA shall
<br />be obligated to pay the bonds or the interest thereon, or other costs incident thereto,
<br />except from the revenues and monies pledged therefor, and neither the faith or credit of
<br />the taxing power of the Commonwealth, the City, nor the IDA shall be pledged thereto.
<br />
<br /> This resolution shall take effect immediately upon its adoption.'
<br />
<br /> Ayes: Beamer, Corprew, Gray, Lucas, Webb, Whitlpw, Holley
<br /> Nays: None
<br />
<br /> 84-335 Letter from the City Manager recommending adoption of a motion authorizing a
<br />refund of $1,162.37 to Churchland Psychiatric Associates for remaining portion of unused 1984
<br />City Business License Tax (relocated business to Chesaoeake on August 13, 1984).
<br />
<br /> "The Commissioner of the Revenue is requesting a refund of 1984 City Business License
<br />to Churchland Psychiatric Associates, 3800 Poplar Hill Road, Suite F, Chesapeake, VA 23321.
<br />
<br /> Drs. Lovko, Keitner and Chase trading as Churchland Psychiatric Associates moved to
<br />Chesapeake August 13, 1984. They paid $1,743.57 for their City Business License based on
<br />gross receipts of $25?,772.00, therefore, a refund of $1,162.37 (without penalty and interest)
<br />zs requested for the remaining portion of unused license tax.
<br />
<br />I recommend that Council adopt this motion, and a refund be granted."
<br />
<br /> Motion of Mrs. Wcbb and seconded by Mrs. Lucas, that authorization be granted to refund
<br />$1,162.37[~ithout interost[, to Churchland Psychiatric Associates, 3800 Poplar Hill Road, Suite
<br />F, Chesapeake, VA for remaining portion of unused license tax and was adopted by unanimous
<br />vote. '
<br />
<br /> 84-336 - Letter from the City Manager recommending adcption of a motion authorizing
<br />a refund of $703.52 to Paul R. Bauer, M.D., for remaining portion of unused 1984 City Busines:
<br />License Tax (relocated office to Chesapeake on June 25, 1984).
<br />
<br /> "The Commissioner of the Revenue is requesting a refund of 1984 City Business License
<br />to Paul R. Bauer, M.D., 4037 Taylor Road, Suite C, Chesapeake, Viryinia 23321.
<br />
<br /> Dr. Bauer moved to Chesapeake June 25, 1984. He paid S844.22 for his City Business
<br />License based on gross rec~mpts of $123,541.00. His ~ncome ~uring the period in Portsmouth
<br />was $24,077.50, therefore, a refund of $703.82 (without 6ena~ty'~nd interest ) is requested.
<br />
<br /> I recommend that Council adopt this~motion, and a refund be granted."
<br />
<br /> Motion of Mr. Beamer and seconded by Mrs. Webb, that authorization be granted to refund
<br />$~03.52 [without interest) to Paul R. Baner, M.D.4037 Taylor Road, Suite C, Chesapeake, VA
<br />for remaining portion of unused license tax, and was ~dopted by unanimous vote.
<br />
<br /> 84-337 Letter from the City Manager recommenJing. . adoption of a motion authorizing a
<br />refund of $516.11 to Louis M. Waters,'~.D., for remaining portion of unused 198~ City Business
<br />License Tax (relocated office to Chesspeake on July 31, 1984).
<br />
<br /> "The Commissioner of the Revenue is requesting a ?efund of 1984 City Business License
<br />to Louis M. Waters, M.D., 403? Taylor Road, Chesapeake, Virginia 23321.
<br />
<br /> Dr. Yaters moved to Chesapeake July 31, 1984. He paid $688.16 for his City Business
<br />License based on gross receipts of S100,248.00. His income during the period in Portsmouth
<br />was $21,806.00, therefore, a refund of $516.11 (without penalty and interest) is requested.
<br />
<br /> I recommend that Council adopt this motion, and a refund be granted.
<br />
<br />
<br />
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