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219
<br />
<br />August 28, 1984
<br />
<br />Planned Purposes for $9,750,000 Referendum
<br />
<br />PrOj:ect
<br />
<br />Pinners Point Wastewater
<br /> Treatment Plant
<br />Secondary Treatment
<br />Red Barn Road Sewager Pump
<br /> Station
<br />Master Pum Station Alarm
<br /> System
<br />Repairs to Ground Water
<br />Storage Reservoirs
<br />Highland Biltmore Sanitary
<br />Sewer Improvements
<br />Miscellaneous Extensions,
<br /> Additions ¢ I~provements
<br />
<br />TOTAL
<br />
<br />This Referendum
<br />
<br />City Non-City
<br />
<br />$8,216 757
<br />
<br /> 345 200
<br />
<br /> 200 000
<br />
<br /> 450 000
<br />
<br /> 450 000
<br />
<br /> 88 043
<br />
<br />$29,133,243
<br />
<br />Total
<br />Project
<br />
<br />$37,350,000
<br /> 345,200
<br /> 200,000
<br /> 450,000
<br /> 450,000
<br /> 88.043
<br />
<br /> The que~%~on to be voted on by the proposed referendum in November deals primarily with
<br />the metho5 of financing to be used for the capital improvements necessary to maintain the publ
<br />utility system. The City has several other alternatives for funding the capital improvements
<br />of the public utility system which do not require voter approval, including revenue bonds,
<br />general obligation bonds, and others. However, the referendum approved double barrel bonds
<br />represent the financing means most favorable to the utility user. The Director of Finance
<br />recommends this method of financing for the public utility capital improvements, and I concur
<br />in his recommendation.
<br />
<br /> The proposed referendum you have before you should be sufficient to provide the necessary
<br />voter authorization for public utility capital projects for the next three years. It provides
<br />funding for all projects included in the prcposed 1985-89 Capital Improvements Program through
<br />the fiscal year ~987. After the mandated ~mprovements for secondary sewage treatment have
<br />been completed, it is my intention to concentrate on a more level and fiscally prudent rate
<br />of capit'a~ e~penditures. This plan, as will be reflected in ~he 5 year capital ~mprovemenr
<br />program I will be formally submitting to you in the near future, will show a steady commitmenl
<br />~owards maintaining and improving our water/sewer system.
<br />
<br /> It would not be fair, however, ~o attempt to say that the impact of going to the federall
<br />mandated ~e~or~ary treatment will not require water and sewer rare increases. It shall. The
<br />extent of the increases cannot be determined precisely in advance, but it is estimated that
<br />10~ to 20% ~ncreases will be necessary for up to 5 years. However, it ~s my intention to hold
<br />these increases to the minimum possible in order to effectively and with the utmost efficiency
<br />provide our customers and citizens with the finest water and sewer system at the most reason-
<br />able cost.
<br />
<br />I therefore request your endorsement of the $9,750,000 bond referendum."
<br />
<br /> On motion o~ Mrs. Webb and seconded by Mr. Beamer, the following ordinance was adopted
<br />on first and final reading, and by the following vote:
<br />
<br />"AN ORDINANCE TO AUTHORIZE THE ISSUANCE OF NINE MILLION, SEVEN HUNDRED FIFTY
<br />THOUSAND DOLLARS OF BONDS TO BE KNOWN AS PUBLIC UTILITY BONDS FOR THE PURPOSE
<br />OF MAKING CAPITAL IMPROVEMENTS, EXTENSIONS AND ADDITIONS TO THE CITY OF PORTSMOUTH'S
<br />REVENUE PRODUCING WATER AND SEWER SYSTEM, PURSUANT TO ARTICLE VII, SECTION 10~a)(2)
<br />OF THE 1970 CONSTITUTIDN OF VIRGINIA, AND CHAPTER 5 OF TITLE 1S.1 OF THE CODE OF
<br />VZRGINrA, AND AUEHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANUE AND SALE OF
<br />A LIKE PRINCIPAL AMOUNT OF PUBLIC UTILITY BOND ANTICIPATION NOTES IN ANTICIPATION
<br />OF THE ISSUANCE AND RE2EIPT OF THE PROCEEDS OF SALE OF SUCH BONDS.'
<br />
<br />Ayes: Beamer, Corprew, Gray, Lucas, Webb, Whitlow, Holley
<br />Nays: None
<br />
<br /> 84-305 Letter from the City Manager recomending adoptmon of an ordinance to amend
<br />Chapter 35, Article IV, Division I, Special Assessment for £pen Space Real Estate.
<br />
<br /> "rn 197- the City Council of Portsmouth adopted an Ordinance providing for special
<br />assessments for opgn space real estate in that it was felt that the preservation of real
<br />estate devoted to open space uses is in the public interest. Under this policy, real estate
<br />devoted to agricultural use, horticultural use, forest use, and open space use, including
<br />parks or recreational purposes, may upon approval of the City Assessor, have such use consid-
<br />ered in determining the appropriate tax to be charged.
<br />
<br /> The 1984 session of the General Assembly of Virginia has amended the applicable State law
<br />which allows for the roll~back.~r--reassessmenr of a portion of a parcel of land which no longe
<br />qualifies as open space whore formerly the entire parcel had to no longer qualify ~n order for
<br />an adjustment ro be made. In addition, the legislation adopted at the last session of the
<br />General Assembly establish a destinction between persons who violate the requirement of keepin
<br />the City informed as to the use of the property between ~hose who "fail to report properly"
<br />and those who "materially m~sstate the facts." The material misrepresentation constitutes in-
<br />
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