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<br />
<br />ORDINANCE:
<br />AUTHORIZING ISSUANCE
<br />OF $9,500,000
<br />GENERAL OBLIGATION
<br />BONDS AND
<br />$9,S00,000 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,S00,000
<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 />
<br /> Mr. Hendrix stated that it is proposed for the City to issue
<br />$9,S00,000 in Bond A~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 />
<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 />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 />Authority.
<br />
<br /> Dr. Gunter moved the Appr!opriation of $9,500,000 to the
<br /> Charlottesville Redevelopment iand Housing Ahthority, 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,S00,000~00 to be received from the
<br /> sale of a like amount of General Obligation Bond AKticipation
<br /> Notes is hereby appropriated tO expenditure account 01-92500 for
<br /> use by the Charlottesville Redevelopment and Housing Authority
<br /> gncompletion 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 />
<br /> The meeting was recessed nntil T ursday,~2? at 8:30 p.m.
<br />
<br />Cler~ President ----~>
<br /> NOTICE OF SPECIAL MEETING
<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,S00,000 GENERAL BOND ANTICIPATION
<br /> NOTES OF THE CITY OF CHARLOTTESVILLE (2nd reading)
<br />
<br />2. Resolution awarding thle $9,S00,000 General Obligation Bond
<br /> Anticipation Notes of the City of Charlottesville
<br />
<br />3. Appropriation of $9,S00,000 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
<br />
<br />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 />
<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 />
<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. Gun,er, Dr. Hall. Noes: None.
<br />
<br /> The ordinance entitled "AN ORDINANCE AUTHORIZING THE ISSUANCE OF
<br />$9,S00,000 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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