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<br />
<br />ORDINANCE:
<br />AMENDING NOISE
<br />ORDINANCE
<br />(2nd reading)
<br />
<br />ORDINANCE:
<br />REZONING PROPERTY
<br />ON EAST SIDE OF
<br />NASSAU ST. FROM
<br />R-2 RESIDENTIAL
<br />TO R-MOBILE HOME
<br />PARK
<br />
<br />RESOLUTION:
<br />
<br />BENEFIT PROVISIONS OF THE SUPPLEMENTAL RETIREMENT OR PENSION PLAN
<br />FOR CITY EMPLOYEES AND TO REPEAL SEC%ION 20-26 OF SAID CODE, REGARDING
<br />TRANSFERS OF EMPLOYMENT" was adopted by the following vote. Ayes:
<br />Mr. Conover, Mrs. Gteason, Dr. Gunter, Dr. Hall. Noes: Mr. Buck.
<br /> The ordinance entitled ,AN ORDINANCE TO AMEND AND REORDAIN CHAPTER
<br />16~1, AS AMENDED, OF'THE CODE OF THE CITY'OF CHARLOTTESVILLE, 1976,
<br />RELATING TO NOISE CONTROL''~w~ich was offered at the meeting of
<br />Janumry 3, 1984, was adopted by the following vote. Ayes: Mr. Buck,
<br />Mr. Conover, Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br /> This item was withdrawn by the applicant.
<br />
<br />Mr. Wiley recommended that the general obligation general imorove-
<br />
<br />GENERAL OBLIGATION
<br />GENERAL IMPROVEMENT ment bond anticipation notes in the amount of $3 million for public
<br />BOND ANTICIPATION
<br />NOTE PROPOSAL schoot~.improvements scheduled to mature in April, be refinanced on a
<br /> short-term basis for anotheryear duo'to the current favorable short-
<br /> term interest rates. Mr. Wiley stated that informal quotations had
<br /> been obtained from the local banks, and United Virginia Bank was found
<br /> to be the most favorable for the City, with an interest rate ~of S.94%
<br /> per annum. Mr. Wiley added that it was not necessary to amend the
<br /> original bond ordinance to issue the new notes, but only to adopt the
<br />
<br />following resolution.
<br />
<br /> The Resolution entitled 'A Resolution making certain findings
<br />concerning a proposal submitted for the purpose of a general obligation
<br />general improvement bond~ant%cipation note of the City of Charlottesville,
<br />Virginia, in the principal amount of three million'!dollars, accepting the
<br />proposal to purchase such note; fixing the rate of interest to be borne
<br />by such note; and approving the form of such note" was moved by Mrs.
<br />Gleason, seconded by Dr. Gunter, and approved by the following vote.
<br />Ayes: Mr. Buck, Mr. Conover, Mrs. Gleason, Dr. Gunter, Dr~. Hall. Noes:
<br />
<br />None.
<br />
<br /> BE IT RESOLVED BY THE COUNCIL ©F THE CITY OF CHARLOTTESVILLE,
<br />VIRGINIA:
<br /> 1. The Council of the City.of Charlottesville, Virginia (the
<br />"Council") hereby finds and determines the proposal (the "Pr'oposal".)
<br />of United Virginia Bank (the "Purchaser") to purchase from the City
<br />of Charlottesville, Virginia (the "City") its City of Charlottesville,
<br />Virginia, General Improvement Bond Anticipation Note, dated as of
<br />February 1, 1984, in the principal amount of three million dollars
<br />($3,000,000) (the "Note"), authorized to be issued by an ordinance
<br />adopted by the Council on March 15, 1982, entitled "AN ORDINANCE
<br />AUTHORIZING THE ISSUANCE OF THREE MILLION DOLLARS ($3,000,000)
<br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION GENERAL IMPROVEMENT BONDS OF
<br />THE CITY OF CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING
<br />FUNDS TO PAY THE COST OF PUBLIC SCHOOL IMPROVEMENTS OF AND FOR SUCH
<br />CITY; FIXING THE FORM, DENOMINATION AND CERTAIN OTHER FEATURES OF
<br />SUCH BONDS; PROVIDING FOR THE SALE OF SUCH BONDS AND PRESCRIBING THE
<br />FORM OF A NOTICE OF SALE THEREFOR; AND AUTHORIZING AND PROVIDING WITH
<br />RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND
<br />SALE OF SUCH BONDS" (the "Bond Ordinance"), offers to purchase the Note
<br />on a fair and reasonable basis and the acceptance of the proposal is in
<br />the best interest of the City.
<br /> 2. The Proposal of the Purchaser to purchase the Note for a
<br /> purchase price equal to three million dollars ($3,000,000) and accrued
<br /> interest from the date of the Note to the date of the payment in full
<br /> of the purchase price thereof is accepted. In accordance with the terms
<br /> of the Proposal the Note shall bear interest at the rate per annum as
<br /> set forth in paragraph 4.
<br /> 3. All action taken to date by the officials of the City with
<br /> respect to the sale of the Note, including negotiating the sale of
<br />
<br />
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