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195
<br />
<br />November 9, 1982
<br />
<br /> It is anticipated that CUSIP identification numbers will be printed on the Bonds, but
<br />neither the failure to print any such number og any Bond nor any error or omission with respec~
<br />thereto shall constitute cause for failure or 9efusal by the successful bidder for the Bonds tc
<br />accept delivery of and pay for the Bonds in accordance with the temrs of its proposal. No
<br />CUSIP identification number shall constitute or be deemed to be a part of any Bond or a part of
<br />the contract evidenced thereby and no liabilit~ shall attach to the City or any of its officers
<br />or agents because of or on account of any number or any use made thereo~. All exoen~es in
<br />relation to the printing of CUSIP identification numbers on the Bonds shall be pa~d ~or by the
<br />City; pro~ided,.however, that the CUSIP Servic6 Bureau charge for the assignment of such numb.
<br />shall ~e responsibility of and shall be paid b~ the successful bidder for the Bonds.
<br />
<br /> The respective opinion of Wood & Dawson approving the validity of each issue of
<br /> be furnished the successful bidder for the Bonds. ~ach such opinion will state that
<br /> Bonds constitute valid and legally binding obligations of the city and the the City
<br /> and is obligated to levy ad valorem taxes for ~he payment of such Bonds and the inter
<br /> on upon all property within the City, subject to taxation by the City, without limita
<br /> rate or amount, it being understood that the r~ghts of the holders of such Bonds and
<br /> forceability thereof may be subject to judiciat discretion, to the valid exercise of
<br /> eign police powers of the Commonwealth of Virginia and of the constitutional Dowers o
<br />United States of America, and to valid ' ~
<br /> bankruptcy, ~nsolvency, reorganization, morato
<br />other laws affecting creditors' rights, and will also state that the interest on such Bonds is
<br />exempt from federal income taxation under existing law and regulations, and under the existing
<br />law of the Commonwealth of Virginia such interest is not includable
<br /> in computing the ~irginia
<br />income tax on individuals. A copy of the respective opinion will be printed on the rbspective
<br />Bonds.
<br />
<br /> Requests for proposal forms, for the official statement pertaining to the Bonds ~nd for
<br />further information should be addressed to Mr. Roy W. Cherry, Director of Finance, City of
<br />Portsmouth, P. O. Box 820, Portsmouth, Virginis 23705. Proposal forms and the official state-
<br />ment may also be obtained at the office of Wood ~ Dawson, 48 Wall Street, New York, New York
<br />10005.
<br />
<br /> George L.Hanbury
<br /> City Manager
<br /> Portsmouth, Virginia"
<br />
<br /> 11. The City Attorney of the City is hereb~ directed to file a copy of this resolution,
<br />certified by the City Clerk of the City to be a true copy hereof, with the Circuit CoUrt of
<br />City of Portsmouth, Virginia, and the City Clerk is hereby directed to publish once wkthin ten
<br />(10) days of the date of such filing a notice in The Virginian Pilot, a newspaper of ~eneral
<br />circulation in the City, in accordance with Section 15.1-199 of the Code of Virginia, 1950, as
<br />amended. Such notice shall be in substantially the following form:
<br />
<br /> "LEGAL NOTICE
<br />
<br /> Notice is hereby given pursuant to Section 15.1-199 of the Code of Virginia, 1950, as
<br />amended, that the Council of the City of Portsmouth, Virginia, adopted on November 9, 1982,
<br />resolutions authorizing the issuance of $22,000,000 principal amount of General Obligation
<br />
<br />Public Improvement Bonds and $8,000,000 principal amount of General Obligation Public
<br />Bonds of the City and caused certified copies of such resolutions to be filed in the
<br />Court of the City of Portsmouth Qn
<br />
<br /> The proceeds of the sale of the
<br />of the costs of the following public
<br />respective amounts:
<br />
<br />Bonds
<br />the respe(
<br />~s power
<br />est there-
<br />tion of
<br />the eh-
<br />the sover-
<br />f the
<br />~ium and
<br />
<br />Community Services
<br />Education
<br />Parks and Recreation
<br />Public Safety
<br />Urban Transportatkon
<br />Drainage, Curbs, Gutters and
<br /> Street Improvements
<br />Urban Renewal Construction
<br />Crawford Harbor Waterfront
<br /> Improvements:
<br />
<br />$2,1OO,O00
<br />1,200,OO0
<br />1,100,000
<br />1~OOO,OO0
<br />3.500,O00
<br />
<br />1,400,OOO
<br />1,600,O00
<br />
<br />Harbor Street Parking Garage 5,371,543
<br />Contribution for Urban Renewal
<br />Project
<br />Street Improvements
<br />Purchase of former Coast Guard
<br />Base
<br />Bulkhead Extension
<br />Other
<br />
<br />1,927,O00
<br />1,166,000
<br />
<br />690,~@
<br />500,O00
<br />445,457
<br />
<br />Total
<br />
<br />$22,000,000
<br />
<br />provided that if any project set forth shall require less than the entire respective
<br />forth above, the difference may be applied to any other project set forth above.
<br />
<br /> The proceeds of the sale of the Public Utility Bonds shall be applied to the paym
<br />the costs of capital improvements, extensions and additions to the City's revenue-prod
<br />water and sewerage system."
<br />
<br />mount se~
<br />
<br />ent of
<br />~cing
<br />
<br /> Utility
<br /> 'ircuit
<br />
<br />General Obligation Bonds shall be applied to the payment
<br />improvement projects in substantially the following
<br />
<br />
<br />
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