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August 287 1984
<br />
<br /> 84-308 - Letter from the City Manager recommending adcption of a resolution To sign a
<br />deed releasing a 10-foot easement on~,property located at 313 Beacon Road.
<br />
<br /> "When the Highland Biltmore Subdivision was first platted in Norfolk County, certain
<br />properties were set aside for easements for utility purposes. The property at 313 Beacon Road
<br />contains a certain 10' sewer easement which is no longer rec_uired for public purposes. The
<br />owner of the property has requested that the original easement be released in order that he
<br />convey the property without exception being taken to the title. The Public Works Department
<br />has confirmed that the original easement ~s no ionger required, and the attached resolution
<br />prepared by the City Attorney will authorize the release of the originaI easement.
<br />
<br /> I, therefore, recommend the adoption of the resolution authorizing the execution of a dee,
<br />releasing the 10' easement.'
<br />
<br /> Oh mo~ian%6f.~Mr..Gray, and seconded by Mrs. Webb, the following resolution was adopted,
<br />and by the following vote:
<br />
<br />"A RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN A DEED RELEASING A 10 FOOT
<br />EASEMENT ON PROPERTY AT 313 BEACON ROAD.
<br />
<br /> WHEREAS, by plat of the subdivision of Highland Biltmore, Plat 9, recorded in the Clerk's
<br />Office of the Circuit Court of the City of Chesapeake, Virginia, in Map Book 32, page 48, a
<br />certain 10 foot sewer easement was established on Lot 257 thereof; and
<br />
<br /> WHEREAS, since the establishment of said easement, the sewer line has been relocated to
<br />another easement; and
<br />
<br /> WHEREAS, said original 10 foot easement is no longer required for public purposes and is,
<br />hereby, declared to be excess property.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />the City Manager be, and he hereby is, authorized to execute a deed of release for a 10 foot
<br />easement located at 313 Beacon Road, more particularly described as follows:
<br />
<br /> All that certain piece or parcel of land situate, lying, and being in the
<br />City of Portsmouth, Virginia, designated as "Platted 10 Foot Easement" on that
<br />certain plat entitled "Physical Survey of Lot 257, Highland Biltmore, Plat 9,
<br />Portsmouth, Virginia, for Janet W. Blackburn", dated July 31, 1984, and prepared
<br />by Earnest C. Hawkins, Jr. & Associates, attached hereto and made a part hereof."
<br />
<br />Ayes: Beamer, Corprew, Gray, Lucas, Webb, Whitlow, Holley
<br />Nays: None
<br />
<br /> 84-309 Letter from the City Manaeer recommending adoption of a resolution to authorize
<br />the issuance..of $2,995,000 of General Obligation Bonds of the City of Portsmouth for the pur-
<br />pose 6f providing funds to pay the cost of Greenwood Drive project and for the Priority Action
<br />Program.
<br />
<br /> "In my August 9, 1984 letter to you concerning the appropriation for the sCdree~s~,~a~mDe im-
<br />provements in the Priority Action Program area, I indicated that I would be proposing at the
<br />August 28th Council Meeting a General Obligation Bond Resolution which would authorize the
<br />funding for two 1984-85 CIP Projects.
<br />
<br /> The attached resolution would authorize the issuance of $2,995,000 in General Obligation
<br />Bonds to fund the Priority Action Program streetscape improvements ($1,450,000) as well as
<br />$1,545,000 for the Greenwood Drive project. These two projects are included in the recommende
<br />1984-85 Capital Improvement Program; however, the timetable for implementation has been es-
<br />calated. In order to avoid delays in these two top priority projects it is necessary to appro'
<br />the bond resolution at this time. The balance of the 1984-85 CIP Projects will be included in
<br />an additional resolution after the adoption of th~ CIP by City CounCil.
<br />
<br />I recommend approval of the bond resolution. '
<br />
<br /> On motion of Mr. Beamer and seconded by Mrs. Lucas, the following resolution was adopted
<br />and by the following vote:
<br />
<br />"A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,995,000 OF GENERAL OBLIGATION BONDS
<br />O~ THE~CITY OF PORTSMOUTH, VIRGINIA FOR THE PURPOSE OF PROVIDING FUNDS TO PAY
<br />THE COST OF VARIOUS [MPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND PRO-
<br />VIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF
<br />GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE [SSUANCE AND
<br />RECEIPT OF THE PROCEEDS OF SALE OF SUCH BONDS.
<br />
<br /> WHEREAS, it is necessary for the City of Portsmouth, Virginia (the "City") to provide
<br />funds for the public improvement projects as hereinafter set forth; and
<br />
<br /> WHEREAS, there are no funds in the Treasury of the City applicable to the payment of the
<br />costs of such projects and, accordingly, it is necessary to authorize the ~ssuance of two
<br />million, nine hundred ninety-five thousand dollars ($2,995,000) aggregate principal amount of
<br />general obligation bonds of the City to pay such costs and in anticipation thereof to autho~
<br />rize and provide for the issuance and sale of general obligation bond anticipation notes;
<br />
<br />
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