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May 27, 1980
<br />
<br />'LEGAL NOTICE
<br />
<br /> Notice is hereby given pursuant to Section 15.1-199 of the Code of Virginia, 1950, as
<br />amended, that the Council of the City of Portsmouth, Virginia, a~opte& on May 27, 1980, reso-
<br />lutions authorizing the issuance of $7,O00,000 principal amcunt of General Obligation Public
<br />Improvement Bonds and $5,O00,000 principal amount of General Obligation Public Utility Bonds
<br />said City and caused certified copies of said resolutions to be filed in the Circuit Court
<br />of the City of Portsmouth on
<br />
<br /> The proceeds of sale of said General Obligation Bonds shall be applied to the payment of
<br />the costs of the following public improvement projects in substantially the following respec-
<br />tive amounts:
<br />
<br />Community Services
<br />Education
<br />Parks and Recreation
<br />Public Safety
<br />Urban Transportation
<br />Drainage, Curbs, Gutters and
<br /> Street Improvements
<br />Urban Renewal
<br />Crawford Harbor Improvements
<br /> Parking Garage Construction
<br /> City Hall Building Improvements
<br />
<br />270,000.
<br />1,409,137.
<br />28,000.
<br />70,275.
<br />923,680.
<br />
<br />562,481.
<br />414,427.
<br />
<br />2,470,000.
<br /> 852,000.
<br />
<br />Total $ ,000,000.
<br />
<br />provided That if any project set forth above shall require less than the entire respective
<br />amount set forth above, the difference may be applied to any other project set forth above.
<br />
<br /> The proceeds of sale of said Public Utility Bonds shall be
<br />costs of capital improvements, extensions and additions to said
<br />and sewerage system."
<br />
<br />applied to the payment of the
<br />City's revenue-producing wate:
<br />
<br /> 12. All other resolutions, ordinances or orders or parts thereof in conflict with the
<br />provisions of.this resolution are to the extent of such confl-ict hereby repealed.
<br />
<br />13. This resolution shall take effect from the date of its adoption."
<br />
<br />Ayes: Barnes, Beamer, Early, Gray, Holley, Oast, Davis
<br />Nays: None
<br />
<br /> 80-191 "Consideration of a resolution .authorizing the issuance of five million dollars
<br />($5,000,000) Principal Amount of.General Obligation Public Utility Bonds of the City of
<br />Portsmouth, Virginia, for the purpose of making c~pital improvements, extensions and additiom
<br />to the water and sewerage system of said City, pursuant to Article VII, Section 10(a)(2), of
<br />the Constitution of Virginia, fixing the form of said bonds and providing for the sale of
<br />said bonds.
<br />
<br /> This resolution is being adopted for the same reason that the previous resolution for
<br />$7,000,000 was presented. The $5,000,000 Public Utility Bonds were also withdrawn from the
<br />Notice of Sale and this will authorize a new Notice of Sale bringing the total bond sale for
<br />June 17, 1980, to $.12,000,000. The City Manager recommends adoption."
<br />
<br /> On motion of Mr. Gray and seconded by Mr. Early, the following resolution'was adopted,
<br />and by the~following vote:
<br />
<br />"A RESOLUTION AUTHORIZING THE ISSUANCE OF FIVE MILLION DOLLARS ($5,000,000)
<br />PRINCIPAL AMOUNT OB GENERAL OBLIGATION PUBLIC UTILITY BONDS OF THE CITY OF
<br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF MAKING CAPITAL IMPROVEMENTS,
<br />EXTENS~ON~_AND ADDITIONS TO THE WATER AND SEWERAGE SYSTEM OF SAID CITY,
<br />PURSUANT TO ARTICLE VII, SECTION lO(a)(2), OF THE CONSTITUTION OF VIRGINIA,
<br />FIXING THE FORM OF SAID BONDS AND PROVIDING FOR THE SALE OF SAID BONDS.
<br />
<br /> WHEREAS, the City of Portsmouth (the "City") is authorized to operate a water utility
<br />system, including water production, preparation, distribution and transmission systems; and
<br />
<br /> WHEREAS, the City .is authorized to operate a sewerage utility system, including sewerage
<br />transmission, treatment and disposal systems; and
<br />
<br /> WHEREAS, the City is authorized to, and does, overate its water and sewerage systems as
<br />a single utility system; and
<br />
<br /> WHEREAS, such combined water and sewerage system is an undertaking from which the City
<br />derives revenue; and
<br />
<br /> WHEREAS, the City of Pcrtsmouth is authorized under and by virtue of Article VII, Sectio
<br />,lO(a)(2), of the Constitution of Virginia, Chapter 5 of Title 15.1 of the Code of Virginia,
<br />1950, and .the Charter of the City, to issue bonds as may be necessary to make capital improve
<br />ments, extensions and additions to such water and sewerage system; and
<br />
<br /> WHEREAS, Arti.cle VII, Section lO(a)(2), o.f the Constitution of Virginia, requires the
<br />ordinance authorizing the issua~nce of such bonds to be approved by the affirmative vote of
<br />the majority of the qualified voters of the City voting upon the question of their issuance;
<br />and
<br />
<br />
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