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185
<br />
<br />January 13, 1981
<br />
<br /> "A RESOLUTION EXPRESSING THE GRATITUDE OF THE CITY OF PORTSMOUTH TO MRS. JEAN
<br /> McLEAN DAVIS FOR HER CONTRIBUTION OF 29.6 ACRES LOCATED AT DEEP CREEK BOULEVARD
<br /> AND ELLIOTT AVENUE.
<br />
<br /> WHEREAS, Jean McLean Davis has donated 29.6 acres of valuable property to the City of
<br />Portsmouth; and
<br />
<br /> WHEREAS, this property will greatly enhance the City's economic development potential-
<br />and ,
<br />
<br /> WHEREAS, the donation of this proper~y reflects the spirit of community pride hereto-
<br />fore expressed by Jean McLean Davis.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED hy the Council of the City of Portsmouth, Virginia, that
<br />a copy of thSs resolution be spread upon the minutes of thSs Council and that a copy be
<br />presented to Mrs. Jean McLean Davis in recognition of the City and citizens of Portsmmuth."
<br />
<br />Ayes: Barnes, Beamer, Gray, Oast, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br /> 80-452 On motion of Mr. Gray and seconded by Mr. Beamer, the following resolution was
<br />adopted, and by the following vote:
<br />
<br />"A RESOLUTION COMMENDING THE CITY MANAGER, DIRECTOR OF FINANCE, DIRECTOR OF
<br />DATA PROCESSING AND THEIR STAFFS FOR THE DEVELOPMENT OF A LICENSING AGREEMENT
<br />WITH HONEYWELL INFORMATION SYSTEMS INC FOR THE MARKETING OF CERTAIN COMPUTER
<br />SOFTWEAR. '
<br />
<br /> WHEREAS, the City Manager, Director of Finance, Director of Data Processing and their
<br />staffs have developed certain computer softwear for a total financial reporting system for
<br />general ledger, accounts payable, personnel and capital improvements; and
<br />
<br /> WHEREAS, said softwear systems were developed in con2unction with Honeywell Information
<br />Systems, Inc. for implementation on the Honeywell computer equipment of the City; and
<br />
<br /> WHEREAS, Honeywell Information Systems, Inc. desires to market said softwear through a
<br />licensing agreement with the City and to pay a royalty to the City for the privilege of so
<br />marketing said systems, which rayalties will produce additional revenue for the City.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />the City Manager, Director of Finance, Director of Data Processing and their staffs be com-
<br />mended for the development of a licensing agreement with Honeywell Information Systems Inc.
<br />for the marketing of certain computer softwear. '
<br />
<br /> BE IT FURTHER RESOLVED that the City Clerk be, and she hereby is, instructed to forward
<br />copy of this resolution to the City Manager, Director of Finance and the Director of Data
<br />Processing and their staffs."
<br />
<br />Ayes: Barnes, Beamer, Gray, Oast, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br />The following reports from the City Manager were presented:
<br />
<br /> 81-5 "Consideration of an ordinance on.first
<br />Capital Improvements Fund for purchase of equipment
<br />Capital Improvements budget for 1980-81.
<br />
<br />reading to appropriate $350,000 from the
<br />previously authorized as part of the
<br />
<br /> Ihis appropriation will provide the balance of the funds authorized in the 1980-81
<br />Capital Improvements Budget for equipment funded b) Revenue Sharing. $596,000 of the total
<br />equipment budget was reallocated due to the uncertainty of Revenue Sharing at the time the
<br />budget was adopted. This appropriation, $380,000, has been delayed, as well as the authoriza-
<br />tion to acquire equipment pending the reenactment of Revenue Sharing. Since Congress has
<br />reauthorized Revenue Sharing at its current level for another 3 years, this appropriation
<br />provides the balance of funding for the equipment requested through Revenue Sharing for 1980-8
<br />The City Manager recommends adoption on first reading.
<br />
<br /> On motion of Mr. Oast and seconded by Mrs. Webb, the following ordinance was approved
<br />on first reading, and by unanimous~vote:
<br />
<br />"AN ORDINANCE TO APPROPR'IATE $350,000 FROM THE CAPITAL
<br />THE PURCHASE OF EQUIPMENT PREVIOUSLY AUTHORIZED AS PART
<br />IMPROVEMENT BUDGET FOR 1980-8E."
<br />
<br />IMPROVEMENT FUND
<br />OF THE CAPITAL
<br />
<br />FOR
<br />
<br /> 81-6 - "Consideration of an ordinance on first reading to appropriate $175,000 from the
<br />Debt Service fund for the payment of additional note interest on bond anticipation notes.
<br />
<br /> This additional appropriation is necessary in order to pay the interest on bond anti-
<br />cipation notes for funds appropriated and expended under the Capital Improvements Program,
<br />as well as an estimated amount of note interest to be required through June 30, 1981. The
<br />City currently has approximately $2.1 million in bond anticipation notes; however, there are
<br />$8 million in bonds authorized and unissued which were not part of She June 1980 bond issue.
<br />The City had anticipated selling bonds in late 1979 or early 1980; however, due to market rates
<br />ar that time the City cancelled the sale and then proceeded with the same proposed bond sale
<br />in June 1980. The accumulatien of authorized and unissued bonds has increased due to current
<br />rates; and, from a financial standpoint it is in the best interest of the City to continRe
<br />
<br />
<br />
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