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329
<br />
<br />~lne ~
<br /> z~ ~I983
<br />
<br /> At a regular meeting of the City Council held on Tuesday, June 28, 1983, there were
<br />present:
<br />
<br />J. E. Johansen, Jack P. Barnes, Ben A. Beamer, Sr., J. Robert Gray, James W.
<br />Holley, Ill, Morton V. Whitlow, George L. Hanbury, City Manager, Steven Lieberman
<br />City Attorney. ,
<br />
<br />Absenn: Gloria O. Webb
<br />
<br /> Rev. Emory E. Byrum, Pastor of Cradock Baptist Church, opened the meeting with
<br />followed by the Pledge of Allegiance to the Flag.
<br />
<br /> Mayor Johansen welcomed all visitors in attendance.
<br />
<br />prayer,
<br />
<br /> Motion of Mr. Gray and seaonded by Mr. Be~mer, the minutes of the special called meeting
<br />of June 13, 1983; m~nutes of the called meeting of June 14, 1983; and minutes of the regular
<br />meeting of June 14, 1983, to be approved as received.
<br />
<br /> Motion no amend by Mr. Holley and seconded by Mr. Whitlow, the minutes of the regular
<br />meeting of June 14, 1983, ~o be corrected that the "Aye" votes on Items 83-235 and 83-241 to
<br />read Beamer instead of Johansen.
<br />
<br /> On motion the minutes approved as amended, and was adopted by unanimous vote.
<br />
<br /> 83-[46 Mayor Johansen presented to Miss Janice Diane Davis, "Miss Portsmouth Seawall
<br />1983, with the "Key to the City".
<br />
<br /> 83-247 - Mayor Johansen presented to Adm. Jamie Adair, President of T~le=Fr{ehd~2o~ tlfe
<br />Naval Shipyard Museum, a resoluticn recognizing and commending the members of The Friends of
<br />the Portsmouth Naval Shipyard Museu~ for their valuable servzce to the Museum.
<br />
<br /> Motion of Mr. Whitlow and seconded by Mr. Beamer that Item 83-25- be taken out of order
<br />and acted on at this time, and was adopted by unanimous vote.
<br />
<br /> 83-257 - Letter from the City Manager recommending adoption of a resolution approving
<br />the
<br /> issuance of Industrial Revenue Bonds by the Industrial Development Authority for Lebarnold[
<br />Inc., in the amount of $600,000 for acquisition and improvements at 2655 Elmhursz Lane.
<br />
<br /> "As · '
<br /> I advised you in my letter of June 23, 1983, the Industrial ~evelopment Authority
<br />held a special public hearing on Monday, June 27, 1983 at 5:00 p.m. to consider the issuance
<br />of Industrial Revenue Bonds for Lebarnold, Inc. The IDA conducted that meeting as planned
<br />and approved the issuance of said bonds in an amount not to exceed $600,000 for the acquisi-
<br />tion and Improvements to a truck terminal facility to be located at 2655 Elmhurst Lane.
<br />
<br /> This resolution approves the issuance of such bonds in accordance with the a~plicable
<br />federal and state law, and I recommend its approval." ~
<br />
<br /> On motion of Mr. Whitlow and seconded by Mr. Barnes, the following resolution was adopted
<br />and by the following vote:
<br />
<br />"A RESOLUTION APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS BY THE
<br />INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA, FOR LEBARNOLD,
<br />INC. IN AN AMOUNT NOT TO EXCEED $600,000. FOR A TRUCK TERMINAL FACILITY AT 2655
<br />ELMHURST LANE IN PORTSMOUTH, VIRGINIA.
<br />
<br /> WHEREAS, the Industrial Development
<br />(IDA) has been authorized by the Council
<br />and hold public hearings relative to the
<br />and
<br />
<br />Authority of the City of Portsmouth, Virginia
<br />of the City of Portsmouth, Virginia, to advertise
<br />issuance of Industrial Development Revenue Bonds;
<br />
<br /> WHEREAS, the IDA has considered the application of Lebarnold, Inc. for the issuance
<br />of IDA Industrial Development Revenue Bonds in an amount not to exceed Six Hundred Thousand
<br />[$600,0OO.) Dollars to assist in the financing of the acquisition and improvement of a
<br />truck terminal facility located at 2655 Elmhurst Lane in Portsmouth, Virginia, and has
<br />held a public hearing thereon on June 27, 1983; and
<br />
<br /> WHEREAS, the IDA has requested City Council to approve the issuance of the bonds to
<br />comply with the applicable federal and state law; and
<br />
<br /> WHEREAS, a copy of the IDA's resolution approving the issuance of the bonds, subject
<br />to the terms and conditions contained therein, and the appropriate certification by their
<br />legal counsel have been provideJ to the City Council 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 Industrial Development Authority for the benefit of Lebarnold, Inc. for the
<br />acquisition and improvement of a truck terminal facility at 2655 Elmhurst Lane in Portsmouth,
<br />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 the company, but, as
<br />required by ~15.1-1380 of the Code of Virginia, 1950, as amended, the bonds shall provide
<br />
<br />
<br />
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