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January 26, 1982
<br />
<br />Principal
<br />Amount Purpose
<br />
<br />Original Issuance
<br />
<br />Date Interest
<br />
<br />Renewal Issuance
<br />
<br />Date Interest
<br />
<br />$400,000
<br />$550,000
<br />
<br />Community Services
<br />$248,157
<br />
<br />Community Services
<br />$400,000
<br />
<br />Community Services
<br />$188,543
<br />
<br />3-24-81 -.80%
<br />
<br />4-21-81 8.00%
<br />
<br />--22-81 8.37%
<br />10-14-81 9.04%
<br />
<br />1C-14-81 8.27%
<br />
<br />Urban Renewal
<br />$361,457
<br />
<br />$500 OOO Crawford Harbor 8-4-81 9.90%
<br />
<br />10-14-81 8.85%
<br />
<br />$250.000
<br />$500.000
<br />$300 000
<br />$300 000
<br />$700 000
<br />
<br />Crawford Harbor 8-11-81 9.502
<br />Crawford Harbor 8-14-81 10.002
<br />Crawford Harbor 8-25-81 10.50%
<br />Crawford Harbor 8-25-81 10.$0%
<br />Crawford Harbor 11-3-81 8.63%
<br />
<br /> WHEREAS, in accordance with Section 11-17 of the Code of the City, the City Manager and
<br />the Director of Finance executed and delivered the certificate required by such section to the
<br />City Treasurer, and the City Treasurer and the City Clerk, in accordance with the instructions
<br />set forth in such certificate, issued and delivered $5,950,000 aggregate principal amount of
<br />the Notes, a photocopy of the Notes in such principal amount being attached hereto as Exhibit
<br />A; and
<br />
<br /> WHEREAS, the Council of the City desires to approve,
<br />City Clerk, the City Manager, the City Treasurer, and the
<br />selling, executing and delivering such Notes and the form
<br />with paragraph 4 of the Authorizing Resolution; and
<br />
<br />ratify and confirm the action of the
<br />Director of Finance in issuing,
<br />and details thereof, all in accordan
<br />
<br /> WHEREAS, the Council of the City of Portsmouth, Virginia (the "City"), on July 14, 1981
<br />adopt~a ~6t~ion 6nti~I~d~UA~TRBSOLUTION AUTHCRIZING THE ISSUANCE OF $5,281,814 OF GENERAL
<br />OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO
<br />PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND PROVIDING WITH
<br />RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICI-
<br />PATION NOTES IN ANTICIPATION OF THE ISSUANCE AND RECEIPT OF THE PROCEEDS OF SALE OF SUCH BOND~'
<br /> ithe "July 14, 1981 Authorizing Resolution"); and
<br />
<br /> WHEREAS, pursuant to and in accordance with paragraph 5 of the July 14, 1981 Authorizing
<br />Resolution, the City Attorney filed a copy of the Authorizing Resolution, certified by the Cit
<br />Clerk to be a true copy thereof, with the Circuit Court of the City, and such City Clerk
<br />published within ten (10) days of the date of such filing a notice with respect thereto in The
<br />Virginian Pilot iq~s~hstantial~y~thD fbrm set forth in paragraFh S of the July 14, 1981 Author~
<br />zing Resolution; and
<br />
<br /> WHEREAS, paragraph 4 of the July 14, 1981 Authorizing Resolution authorizes the issuance
<br />and sale of $S,281,814 aggregate principal amount of general obligation bond anticipation note~
<br />of the City (the "Notes") in anticipation of the issuance of general obligation bonds authori-
<br />zed to be issued under the July 14, 1982 Authorizing Resolution and the receipt of the proceed~
<br />thereof, provided the proceeds of the Notes are applied to the same purposes and in the same
<br />respective amounts as are specified in paragraph 3 of the July 14, 1981 Authorizing Resolution
<br />with respect to the application of the proceeds of such bonds; and
<br />
<br /> WHEREAS, in accorda~nce with and under the authority of paragraph ~ of the July 14, 1981
<br />Authorizing Resolution, the Director of Finance has sold $1,700,000 principal amount of the
<br />Notes for the purpose of Froviding funds to pay the cost of the following projects described
<br />paragraph 3 of the July 14, 1981 Authorizing Resolution, the amount of Notes sold for each
<br />project being set forth below:
<br />
<br />Principal Origina'l Issuance Renewal Issuance
<br />AmoUnt ~urpose Date Inter'est Date ~Interest
<br />
<br />$1,2OO,O00 Community Services
<br /> $504,305
<br />
<br />11-17-81 8.27%
<br />
<br />Parks and Recreation
<br />$ 42,106
<br />
<br />Public Safety
<br />$422,489
<br />
<br />Drainage, Curbs
<br /> Gutters
<br /> $ 86,1OO
<br />
<br />Urban Transyortation
<br />$145,OO0
<br />
<br />
<br />
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