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3.1_,3
<br />
<br />July 14, 1981
<br />
<br /> 5o The City Attorney of the City shall be and hereby is directed to file a copy of
<br />this ~e. solut~on, certified by the City Clerk of the City to be a true copy thereof, with
<br />the Circuit Court of the City of Portsmouth, Virginia, and such City Clerk shall be and
<br />hereby is directed to publish once within ten (10) days of the date of filing of such
<br />resolution a notice with respec~ thereto in The Virginian Pilot, a newspaper of general
<br />circulation in the City, in accordance with Section 15.1-199 of the Code of Virginia,
<br />1950, as 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 />ambnded, that the Council of the City of Portsmouth, Virginia, adopted on January 13, 1981,
<br />resolution authorizing the issuance, as a whole at one time or zn part fro~ time to time,
<br />~10,754,837. aggregate principal amount of general obligation bonds and further authorizing
<br />and providing for the issuance and sale of general obligation bond anticipation notes in
<br />.anti~ipation of the issuance of such bonds and caused a certified copy of such resolution
<br />to be filed ~ith the Circuit Court of the City of Portsmouth on , 19
<br />
<br /> The proceeds of sale of such~bonds and notes shall be applied to the payment of the
<br />costs of the public improvement projects described below in substantially the amounts set
<br />forth oppositd the descriptions of the respective projects:
<br />
<br />Projects Amount
<br />
<br />Community Services
<br />Parks and Recreation
<br />Public Safety
<br />Drainage, Curbs, Gutters,
<br /> Street Improvements
<br />Urban Transportation
<br />Urban Renewal
<br />Crawford Harbor-Waterfront
<br />
<br />and
<br />
<br />708,171
<br /> 80,000
<br />429,000
<br />
<br /> 146,100
<br /> 795,000
<br /> 450,000
<br />2,673,543
<br />
<br />Fotal $
<br />
<br />provided, that if an)- such project shall require less than
<br />forth above, the difference may be applied to pay the cost
<br />
<br /> 5,281,814
<br />
<br />the entire respective amount
<br />of any other project so set
<br />
<br />set
<br />forth
<br />
<br />o
<br />
<br />This resolution shall take effect from
<br />
<br /> Ayes: Barnes, Beamer Gray, Oast,
<br /> Nays: None
<br />
<br /> City Clerk
<br /> City of Portsmouth,
<br />
<br />the date of its adoption."
<br />Webb, Whitlow, Johansen
<br />
<br />Virginia"
<br />
<br /> 81-246 "Consideration of a resolution approving, ratifying and confirming the issuance
<br />and sale of $3,400,000 prmncipal amount of General Obligation Bond Anticipation Notes for
<br />the purpose of paying the cost of various public Improvement projects.
<br />
<br /> The bond authorization resolution requires the City Council to ratify the issuance
<br />and renewal of bond anticipation notes. $3,400,000 in Bond Anticipation Notes have been
<br />issued and are outstanding. This amount reflects $1,350,000 in new issues since the last
<br />ratification January 13, 1'981. Details of each note with respect to the principal amount,
<br />purpose, original issue and renewal dates and the respective interest rates are included
<br />mn the resolution. The City Manager recommends adoption."
<br />
<br /> On motion of Mr. Whitlow and seconded by Mr. Gray, 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,
<br />RATIFYING AND CONFIRMING THE ISSUANCE AND SALE OF $3,4OO,OOO PRINCIPAL AMOUNT
<br />OF GENERAL OBLIGATION BOND ANTICIPATION NOTES OF SUCH CITY FOR THE PURPOSE
<br />OF PAYING THE COST OF VARIOUS PUBLIC IMPROVEMENT PROJECTS IN ANTICIPATION
<br />OF THE ISSUANCE AND RECEIP% OF THE PROCEEDS OF SALE OF GENERAL OBLIGATION
<br />BONDS OF SUCH CITY FOR SUCH PURPOSES AND APPROVING, RATIFYING AND CONFIRMING
<br />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 TiE ISSUANCE OF $10,754,837
<br />OF GENERAL OBLIGATION BONDS OF THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF ~ROVIDING
<br />FUNDS TO PAY THE COST OF VARIOUS IMPROVEMENT PROJECTS OF SUCH CITY AND AUTHORIZING AND
<br />PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A LIK~ PRINCIPAl AMOUNT OF GENERA~
<br />OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND RECEIPT OF TH~
<br />PROCEED~ OF SALE OF SUCH BONDS AND APPROVING, RATIFYING AND CONFIRMING THE ISSUANCE ~F
<br />$2,050,000 PRINCIPAL ~OUNT OF SUCH GENERAl OBLIGATION BOND ANTICIPATION NOTES" (the
<br />'~Authg~iz~ng Resolution"); and
<br />
<br />
<br />
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