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134
<br />
<br />July 27, 1982
<br />
<br /> WHEREAS, paragraph 4, of the July 14, 1981 Authorizing Resolution authorizes the
<br />issuance and sale of $5,281,814 aggregate principal amount of general obligation bond anti-
<br />cipation notes of the City (the "Notes") in anticipat%on of the issuance of general obligation
<br />bonds authorized to be issued under the July 14, 1981 Authorizing Resolution and the receipt
<br />of the proceeds thereof, provided the proceeds of the Notes are applied to the same pruposes
<br />and in the same respective amounts as are specified in paragraph 3 of the July 14, 1981
<br />Authorizing Resolutmon with respect to the application of the proceeds of such bonds; and
<br /> WHEREA~' in accordance with and under the authority of paragraph ~ of the July 14,
<br />1981 Authorizing Resolution, the Director of Finance has sold 52,300,000 principal amount
<br />of the Notes for the purpose of providing funds to pay the cost of the following projects
<br />described in Fara~raph 3 of the July 14, 1981 Authorizing Resolution, the amount of Notes
<br />sold for each project being set forth below:
<br />
<br />Princmpal Original Issuance
<br />
<br />&mount Purpose Date Interest
<br />
<br />$1,2007)00
<br />
<br />5500,000
<br />
<br />Community Services $504,305
<br />Parks and Recreation $ 42,106
<br />Public Safety 5422,489
<br />Drainage, Curbs, Gutters and
<br /> Street Improvements 586,100
<br />Urban Transportation $145,000
<br />
<br />Community Services 530,000
<br />Public Safety $34,C00
<br />Drainage, Curbs, Gutters and
<br /> Street Improvements 550,C00
<br />Urban Transportation 5196,000
<br />Urban Renewal 5132,334
<br />Crawford Harbor 557,666
<br />
<br />11-17-81 8.27%
<br />
<br />1-5-82 8.00%
<br />
<br />$300,000
<br />
<br />Education $100,000
<br />Crawford Harbor $200,000
<br />
<br />3-30-82 8.873%
<br />
<br />$300,000
<br />
<br />Crawford Harbor $300,000
<br />
<br />5-11-82 8.25%
<br />
<br /> WHEREAS, in accordance with Section 11-17 of the Code of the City, the City Manager
<br />and the Director of Finance executed and delivered the certificate required by such section
<br />to the City Treasurer, and the City Treasurer and the City Clerk, in accordance wmth the
<br />instructions set forth in such certificate, issued and delivered $2,300,000 aggregate
<br />principal amount of the Notes, a photocopy of the Notes in such principal amount being
<br />attached hereto in Exhibit A, and details of the Notes being shown in Exhibit B, attached
<br />hereto; and
<br /> WHEREAS, the Council of the City desires to approve, ratify and confirm the actions of
<br />the City Clerk, the City Manager, the City Treasurer, and the Director of Finance in issuing,
<br />selling, executing and delivering such Notes and the form and details thereof, all in
<br />accordance with paragraph 4 of the July 14, 1981 Authorizing Resolution.
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA:
<br /> 1.This Council hereby approves, ratifies and confirms the actions of the City Clerk,
<br />the City Manager, the City Treasurer, and the Director of Finance of the City mn issuing,
<br />selling, executing and delivering Ten Million ($t0,000,000) Dollars aggregate principal
<br />amount of the Notes at a purchase price of par plus interest accrued thereon from the date
<br />thereof to the date of delivery thereof and payment therefor. This Council further approves,
<br />ratifies and confirms the form of the Notes attached hereto as Exhibit A and the details of
<br />the Notes as shown in Exhibit B.
<br /> 2. This resolution shall take effect from the date of its adoption.
<br />
<br />_ Ayes: Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br /> Nays: None
<br />
<br /> 82-271 Consideration of a resolution endorsing Portsmouth, England as a sister city;
<br />designating the Mayor of Portsmouth, Virginia, as official representative.
<br />
<br /> Council, by this resolution, hereby officially endorses Portsmouth, England as a sister
<br />city for the purpose of creating greater mutual understanding; and, authorizes the Mayor
<br />of Portsmouth to act as the official representative of the City. lhe City Manager recommends
<br />
<br />adoption."
<br />
<br /> Motion of Mr. Whitlow and seconded by Mrs. Webb to adopt the resolution.
<br />
<br /> Ccuncil requested that Dunedin, New Zealand be inEormed of our adoptio~ of a second
<br />Sister City, and our relationship with Dunedin would continue as a Sister City.
<br />
<br /> On motion the £~tlowi~g resolution was adopted and by the following vote:
<br />
<br />
<br />
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