1984-09-04 - Laserfiche WebLink

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RESOLUTION: APPOINTING VIEWERS TO CONSIDER CLOSING A PORTION OF McELROY DR. APPROPRIATION: AUTHORIZING REALLOCATION OF CAPITAL FUNDS TENNIS COURTS bonds is located must ......... ~: approve the ~m~.suance of the bonds; and WHEREAS, the Authority issues its bonds on behalf of the City of Charlottesville, Virgmn~a (the "City"); the Project is to be located in the City and the Council of the City of Charlottesville, Virginia (the "Council") constitutes ~the highest elected governmental unit of the City; and WHEREAS, the Ordinance adopted by the Council on July 19, 1976, as amended on February 4, 1980, which created the Authority (~the "Ordinance"), provides that the Authority shall not fin'ance any facility until the location and financing of such facility have been approved by the Council- and , WHEREAS, Section S of the Ordinance sets forth certain standards to be considered 'by the Authority and the Council in determining the nature and location of facilities to be financed by the Authority; and WHEREAS, the Authority has recommended that the Council approve the issuance of the Bonds; and WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, subject to the terms to be agreed upon,.a certificate of the public hearing, and a Fiscal Impact Statement ahve been filed with the Council; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTT. ESVILLE, VIRGINIA: 1. The Council approves the location and financing of the Project and the issuance of the Bonds by the Authority for the benefit of the Company, as required by Section 103(k) and Section 1S.1-1378.1 of the Virginia Code, to permit'the Authority to assist in the financing of the Project. 2. It is hereby found and determined that the Project meets the criteria set forth in Section S of the Ordinance'. 3. The approval of the issuance of the Bonds does not constitute an end~orsement to a prospective purchaser of the Bonds of the creditworthiness of the Project or the Company. 4. The bonds shall not be issued unless they shall have received an allocation of the State Ceiling (-as defined in Executive Order Number 50 of the Governor of the Commonwealth of Virginia, dated August 1, 1984), and nothing in this resolution shall be construed as any assurance that such allocation will be available or, if available, will be:_made. S. Pursuant to the limitations contained in Temporary Income Tax Regulations Section Sf.103-2(f)(1), this Resolution shall remain in effect for a period of one year from the date of its adoption. 6. This Resolution shall take effect immediately upon its ~doption. Dr. Hall moved the resolution appointing viewers to consider closing a portion, of McElroy Drive, Mr~ Barnes seconded the motion and it was unani- mously approved by Council. WHEREAS, this Council has.received a petition requesting vacation of a portion of McElro'y Drive situated between Lot 7 and Lot 27 on Tax Map 19' and ' WHEREAS, it appears to Council that the notice required by Section 15.1- 364 of the Code of Virginia (19S0), as amended, has been duly advertised; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Charlottesville that Ms, Mary Jane Haynes, Messrs. W. j. Copeland and H. P. Winn, Jr. report in writing to Council what inconvenience, if any, would result from sUch vacation. Mr. Hendrix recommended using funds from the capital improvement fund which had been earmarked for airport improvements but would not be used this year due to a hold up in matching funds, fOr improvements to the City tennis courts. Mrs. Gteason questioned resurfacing the Mclntire.Courts as they are scheduled to be moved'when Mclntire Road is extended. Mr. Hendrix stated that the resurfacing would last five years and it would be'that long before the new road would be constructed. Dr. Gunter stated that she felt this was an important project because of the heavy usage of the tennis courts. Ms. Natalie Moyle of 2224 Greenbrier Drive and representing the Tennis Patrons, stated her support of the appropriation. Dr. Hall moved'the appropriation, Mr. Barnes seconded the motion and it was carried over to the next meeting for consideration.