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<br />
<br />ORDINANCE:
<br />AUTHORIZING ISSUANCE
<br />OF $9,500,000
<br />GENERAL OBLIGATION
<br />BONDS AND
<br />$9,500,000 GENERAL
<br />OBLIGATION ,BOND
<br />ANTICIPATION NOTES
<br />
<br />APPROPRIATION:
<br />$9,500,000 TO
<br />CHARLOTTESVILLE
<br />REDEVELOPMENT AND
<br />HOUSING AUTHORITY
<br />
<br />ORDINANCE:
<br />AUTHORIZING
<br />ISSUANCE OF
<br />$9,S00,000 GENERAL
<br />OBLIGATION BONDS
<br />AND $9,500,000
<br />GENERAL OBLIGATION
<br />BOND ANTICIPATION
<br />NOTES
<br /> (2nd reading)
<br />
<br />this for many years. He added his support of the project.
<br /> Mr. Hendrix stated that it is proposed for the City to issue
<br />$9,.500,000 in Bond An. ticipation Notes for one year to raise the
<br />money to be appropriated to the Authority. The notes will be
<br />converted to 20 year bonds at a later date.
<br /> Dr. Hall moved the ordinance entitled "AN ORDINANCE AUTHORIZING
<br />THE ISSUANCE OF $9~500,000 GENERAL OBLIGATION BONDS AND $9,500,000
<br />GENERAL OBLIGATION BOND ANTICIPATION NOTES OF THE CITY OF
<br />CHARLOTTESVILLE," Dr. Gunter ~seconded the motion and it was carried
<br />
<br />over to the next meeting.
<br />
<br /> Mr. Buck stated that the appropriation would enable the transfer
<br />of the $9,500,000 to the Charlottesville Redevelopment and Housing
<br />
<br />Authority.
<br />
<br /> Dr. Gunter moved the Appropriation of $9,500,000 to the
<br />Charlottesville Redevelopment and Housing Authority, Dr. Hall
<br />seconded the motion and it was carried over to the next meeting.
<br />
<br /> Be it.resolved by the Council of the City of Charlottesville,
<br />Virginia that the sum of $9,500,000~00 to be received from the
<br />sale of a like amount of General Obligation Bond A~ticipation
<br />Notes .is hereby appropriated to expenditure account 01-92500 for
<br />use by the Charlottesville Redevelopment and Housing Authority
<br />gn-completion of the Vinegar Hill Redevelopment Project (Urban
<br />Renewal Project No. VA-R~12), in accordance with the terms of a
<br />cooperation agreement between the City and the Authority approved
<br />on the date of the adoption of this resolution.
<br /> The meeting was recessed until T~ursday, October 27 at
<br />
<br /> Cie President
<br /> NOTICE OF SPECIAL MEETING
<br />
<br />8: 30 p .m.
<br />
<br />A SPECIAL MEETING OF THE COUNCIL WILL BE HELD ON Thursday, October 27,
<br />1983 AT 8:30 p..m. IN THE Council Chambers.
<br />
<br />THE PROPOSED AGENDA IS AS FOLLOWS:
<br />
<br /> 1. ORDINANCE AUTHORIZING THE ISSUANCE OF $9,500,000 GENERAL
<br /> OBLIGATION BONDS AND $9,500,000 GENERAL BOND ANTICIPATION
<br /> NOTES OF THE CITY OF CHARLOTTESVILLE (2nd reading)
<br />
<br /> 2. Resolution awarding the $9,500,000 General Obligation Bond
<br /> Anticipation Notes of the City of Charlottesville
<br />
<br /> 3. Appropriation of $9,'500,000 to the Charlottesville
<br /> Redevelopment and Housing Authority (2nd reading)
<br />
<br /> 4. Resolution authorizing Mayor to enter into a coooeration
<br /> agreement with Charlottesville Redevelopment and Housing
<br /> Authority for the Vinegar Hill Hotel Conference Center
<br /> Project
<br />
<br />BY ORDER OF THE MAYOR BY Jeanne Cox (signed)
<br /> Clerk
<br />
<br />COUNCIL CHAMBERS October 27, 1983
<br />
<br /> Council met in special session this date with the Charlottesville
<br />Redevelopment and Housing Authority with the following members present:
<br />Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. Absent: Mr. Conover.
<br /> Mr. Wiley asked that the bond ordinance offered on first reading
<br />on October 24 be amended to read that interest on the bond anticipation
<br />notes would be paid semi-annually rather than annually.
<br /> Dr. Gunter moved to amend the ordinance, Dr. Hall seconded the
<br />motion, and Council voted to amend the ordinance by the following vote.
<br />Ayes: Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br /> The ordinance entitled "AN ORDINANCE AUTHORIZING THE ISSUANCE OF
<br /> $9,500,000 GENERAL OBLIGATION BONDS AND $9,500,000 GENERAL OBLIGATION
<br /> BOND ANTICIPATION NOTES OF THE CITY OF CHARLOTTESVILLE" was approved
<br />
<br />
<br />
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