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July 27, 1982
<br />
<br /> The following reports from the City Manager were presented:
<br />
<br /> 82-268 "Consideration of an ordinance to amend the Code of the City of Portsmouth,
<br />by amending Section 35-6 of Chapter 35 pertaining to bad check fees.
<br /> This ordinance increases the fee charged by the City for checks which have been returned
<br />£or non-sufficient funds from $10 to $20. Adoption of this ordinance will bring the City
<br />Code into compliance with the State Code. The City Manager recommends adoption."
<br />
<br /> On motion of Mr. Gray and seconded by Mrs. Webb the following ordinance was adopted
<br />on first and final reading, and by the following vote:
<br />
<br /> "AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973,
<br /> BY AMENDING SECTION 35-6 OF CHAPTER 35 PERTAINING TO BAD CHECK FEES."
<br />
<br />Ayes:
<br />Nays:
<br />
<br />Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />None
<br />
<br /> 82-269 "Consideration of an ordinance to amend the City Code by amending Sections 35-2
<br />and 35-3 pertaining to payment of administrative costs for the collection of delinquent real
<br />estate and personal property taxes.
<br />
<br /> This ordinance would allow the City to recover a portion of its expenses incurred in
<br />preparing motions for judgement or other appropriate court pleadings and for instituting
<br />litigation to collect delinquent taxes. The City Manager recommends adoption."
<br />
<br /> On motion of Mr. Whitlow and seconded by Mrs. Webb the following ordinance was adopted
<br />on first and final reading, and by the £oltowing vote:
<br />
<br />'~AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973,
<br />BY AMENDING SECTIONS 35-2 AND 35-3 PERTAINING TO PAYMENT OF ADMINISTRATIVE
<br />COSTS FOR THE COLLECTION OF DELINQUENT REAL ESTATE AND PERSONAl PROPERTY
<br />TAXES, RESPECTIVELY."
<br />
<br />Ayes: Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br /> 82-270 - "Consideration of a resolution ra~ifying and confirming the issuance and sale
<br />of $10,000,000 principal amount of General Obligation Bond Anticipation Notes for the purpose
<br />of paying the cost of various public imporvement projects in anticipation of the issuance
<br />and receipts of the proceeds of sale of General Obligation Bonds of the City £or such purposes
<br />and approving, ratifying and confirming the form and other detailes of such notes.
<br />
<br /> This resolution provides the required approval, ratification and confirmation by City
<br />Council for the action which has been taken to issue bond anticipation notes totaling
<br />$10,000,000. The City Attorney and the Director of Finance have reviewed and support the
<br />attached resolution. The City Manager recommends adoption."
<br />
<br /> On motion of Mrs. Webb and seconded by Mr. Beamer the following resolution was adopted
<br />and by the following vote:
<br />
<br />"A RESOLUTION OF THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA, APPROVING, RATIFYING
<br />AND CONFIRMING THE ISSUANCE AND SALE OF $10,O00,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATIO~
<br />BOND ANTICIPATION NOTES OF SUCH CITY FOR THE PURPOSE OF PAYING THE COST OF VARIOUS
<br />PUBLIC IMPROVEMENT PROJECTS IN ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS
<br />OF SALE OF GENERAL OBLIGATION BONDS OF SUCH CITY FOR SUCH PURPOSES AND APPROVING,
<br />RATIFYING AND CONFIRMING THE FORM AND OTHER DETAILS OF SUCH NOTES.
<br />
<br /> WHEREAS, the Council of the City of Portsmouth, Virginia (the "City"), on January 13,
<br />1981 adopted a resolution entitled "A RESOLUTION AUTHORIZING THE ISSUANCE OF $10,754,837 OF
<br />GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING
<br />FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND
<br />PROVIDING WITH RESPECT TO TH~ ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF G~NERAL
<br />OBLIGATION BOND ANTIEIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE
<br />PROCEEDS OF SALE OF SUCH BONDS AND APPROVING, RATIFYING AND CONFIRMING THE ISSUANCE OF
<br />$2,050,000 PRINCIPAL AMOUNT OF SUCH GENERAL OBLIGATION BOND ANTICIPATION NOTES" (the "Authoriz~
<br />Resolution"); and
<br />
<br /> WHEREAS, pursuant to and i~ accordance with paragraph 5 of the Authorizing Resolution,
<br />the City Attorney filed a copy of the Authorizing Resolution, certified by the City Clerk
<br />to be a true ccpy thereof, with the Circuit Court of the City, and such City Clerk published
<br />within ten (10) days of the date of such ~iling a notice with respect thereto in The Virginian
<br />in substantially t~e form set forth in paragraph 5 of the Authorizing Resolution; and
<br />
<br /> WHEREAS, paragraph 4 of the Authorizing Resolution authorizes the issuance and sale of
<br />$10:754,837 aggregate principal amount of general obligation bond anticipation no~es of the
<br />City (the "Notes") in anticipation of the issuance of general obligation bonds authorized
<br />to be issued under t~e Authorizing Resolution and the rece~Ft of the proceeds thereof,
<br />provided the proceeds of the Notes are applied to the same purposes and in the same respective
<br />amounts as are specified in paragraph 3 of the Authorizing Resolution wit~ respect to the
<br />application of the proceeds of such bonds; and
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