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387
<br />
<br />November 10.. 1981
<br />
<br />Principal
<br />Amount
<br />
<br />$500 000
<br />$250 000
<br />$500 000
<br />$300 000
<br />$300 000
<br />$700 000
<br />
<br />Purpose
<br />
<br />Crawford Harbor
<br />Crawford Harbor
<br />Crawford Harbor
<br />Crawford Harbor
<br />Crawford Harbor
<br />Crawford Harbor
<br />
<br /> Original Issuance
<br /> Date Interest
<br />
<br />8-4-81 9.90%
<br />8-11-81 9.50%
<br />8-14-81 10.O0%
<br />8-25-81 10.50%
<br />8-25-81 10.40%
<br />11-3-81 8.63~
<br />
<br />Renewal Issuance
<br />
<br />Date Interest
<br />
<br />10-14-81 8.85%
<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 with the
<br />instructions set forth in such certificate, issued and delivered $5,950,000 aggregate principa
<br />amount of the Notes, ~ photocopy of the Notes in such principal amount being attached hereto
<br />as Exhibit A; and
<br />
<br /> WHEREAS, the Council of the City desires to approve, ~atify and confirm the action
<br />the City Clerk, the City Manager, the City treasurer, and the Director of Finance in
<br />issuing, selling, executing and delivering such Notes and ~he form and details thereof,
<br />all in accordance with paragraph 4 of the Authorizing Resolution.
<br />
<br />of
<br />
<br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA:
<br />
<br /> 1. This Council hereby approves, ratifies and confirms the action of the City
<br />Clerk, the City Manager, the City Treasurer, and the Director of Finance of the City in
<br />issuing, selling, executing and delivering $5,950,000 prin4ipal amount of the Notes at a
<br />purchase price of par plus interest accrued thereon from the date thereof to the date of
<br />delivery thereof and payment therefor. This Council further approves, ratifies and confirms
<br />the form of the Notes attached hereto as Exhibit A.
<br />
<br />2. This resolution shall take effect from the date of its adoption."
<br />
<br />Ayes: Barnes, Beamer, Gray, Oast, Webb, Whitlsw, Johansen
<br />Nays: None
<br />
<br /> 81-411 "Consideration of a motion to designate the following banks as authorized
<br />depositories for funds of the City: Bank of Virginia, Central Fidelity Bank, Chesapeake
<br />Bank and Trust, Citizens Trust Bank, Dominion National Bank, First and Merchants Bank,
<br />First Virglnza Bank of Nansemond, United Virginia Bank and Virginia National Bank.
<br />
<br /> Sections ll-7(a) and ll-9(b) of the Cit) Code require that City funds be deposited to
<br />the credit of the City in such banks as the City Council may designate from time to time.
<br />The last such designatzon was made effective July 1, 1977, and this motion would add Chesa-
<br />peake Bank and Trust to the previously designated list~of authorized depositories. The
<br />City Manager recommends adoption."
<br />
<br /> Motion of Mrs. Webb .and seconded by Mr. Gray, to designate said banks as authorized
<br />depositories, as recommended, and was adopted by 6-0-1(Abstaining-Whitlow) vote.
<br />
<br /> 81-412 '!Consideration of a motion to receive as information the Quarterly Financial
<br />Report for the period ended September 30, 1981.
<br />
<br /> This quarterly financial report is submitted in accordance with the City Code, Section
<br />11-43 (a) (S).
<br />
<br /> Motion of Mr.; G~ay and seconded by Mr. Barnes,
<br />period ended September 30, 1981, to be received as
<br />vote.
<br />
<br />the Quarterly Financial Report
<br />information, and was adopted by
<br />
<br />for the
<br />unanimous
<br />
<br /> 81-413 "Consideration of a motion to transfer $133,333 from the Grants Contingency
<br />Account to continue operation of the Integrated Criminal Apprehension Program (ICAP).
<br />
<br /> This motion will provide the funds necessary to continue operation of the ICAP by the
<br />Portsmouth Police Department for an additional twelve months. Funded by the Law Enforcement
<br />Assistance Administration, the project's goals are to'improve crime detection and apprehensio~
<br />through improved patrol management, crime analysis, provide technical assistance to other
<br />police departments and expansion of the role of patrol officers in executing preliminary
<br />investigations. Of the $133,333 total program amount, $120,000 is the Federal contribution
<br />and $13,333 is the required local cash match. The City Manager recommends adoption."
<br />
<br /> Motion of Mrs. Webb and seconded by Mr. Gray, that authorization be granted so transfer
<br />$153,333 from the Grants Contingency Account, as requested, and was adopted by unanimous vote.
<br />
<br />
<br />
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