Minutes 12/14/1999 - Laserfiche WebLink

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December 14, 1999 WHEREAS, SPSA is unable to plan properly for the provision of those future services or to economically finance the costs of providing those future services and the costs of providing the services which it is already committed to provide, without the elimination of the limit upon its statutory life that now exists under the Act; and WHEREAS, Section 15.2-5112 of the Code of Virginia further provides that a member of an authority created under the Act may not withdraw from that authority if the authority has outstanding bonds unless (i) those bonds have been paid or advance refunded in full, or (ii) the holders of those bonds unanimously agree to the Iocality's withdrawal, and neither (i) nor (ii) is practicable for an authority's continued efficient management of its debts and obligations; and WHEREAS, Section 15.2-5112 would in practice prevent a member of SPSA from withdrawing from SPSA as long as SPSA has outstanding bonds, even if that locality has no outstanding contractual obligation for the use of SPSA's services or any obligation, contractual or otherwise, for the repayment of that outstanding debt; and WHEREAS, the City of Portsmouth believes it is important to SPSA and its members to support the amendment of certain provisions of the Act to eliminate the limitations and restrictions described above in order to ensure SPSA's efficient and economical operation and for continued provision of services to its members and the public, including such continued services to the City of Portsmouth as it may independently determine to contract for or receive in the future. NOW, THEREFORE, BE IT HEREBY RESOLVED by the Council of the City of Portsmouth, Virginia, that it hereby: 1. Endorses legislation which would amend the Code of Virginia to eliminate the above-cited limitations and restrictions on SPSA; 2. Urges approval of such legislation by the members of the Virginia General Assembly representing the citizens of this locality; and 3. Requests that the General Assembly and Governor of the Commonwealth of Virginia adopt and approve the proposed legislation in the form attached hereto." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 99 - 271 - Adoption of a resolution authorizing the City of Portsmouth's 2000 Legislative Proposals to be presented to the Portsmouth Delegation and the members of the Virginia General Assembly. Recommendation: · Adoption of a resolution authorizing the City of Portsmouth's 2000 Legislative Proposals to be presented to the Portsmouth Delegation and the members of the Virginia General Assembly. Purpose and Need: · The Legislative Proposals contain two "Charter Changes", seven "Revenue and Taxation Requests" and thirteen "Items to Monitor during the Session" which can significantly impact municipal operations. · A copy of the Virginia Municipal League's 2000 Legislative Program and the Virginia First Cities Coalition's 2000 Legislative Proposals is included in the addendum. Financial Impact: · The potential financial impact could be millions of dollars to the City for programs, facilities and services. · The total impact cannot be accurately assessed at this time. It will, however, be noted in the Final Legislative Report, which is prepared after the Veto Session of the General Assembly.