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APPROPRIAT'IO'N:
<br />~i3,000'
<br />CABLE CONSULTANT
<br />(2nd reading)
<br />
<br />RESOLUTION:
<br />AUTHORIZING
<br />EXTENSION OF
<br />GENERAL IMPROVE-
<br />MENT BOND
<br />ANTICIPATION
<br />NOTE ($3 MILLION
<br />SCHOOL IMPROVE-
<br />MENTS)
<br />
<br />ORDINANCE:
<br />CORRECTION OF
<br />ERROR IN B-1
<br />ZONING
<br />ORDINANCE
<br />(2nd reading)
<br />
<br />4'6 9'
<br />
<br />a subcontract with Outreach Counseling Services, Inc. This appropriation
<br />shall be subje~ct to receipt of a like amount in revenue from the'Virginia
<br />Department of Social Services.
<br />
<br /> 'The $13,000 appropriation for a Cable Consultant which was offered
<br />at the meeting of January 7th was approved by the following vote. Ayes:
<br />Mr. Barnes, Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br />
<br /> WHEREAS, the City of Charlottesville's franchise agreement with
<br />Multi-Channel TV Cable Company is due to eXPire in March, 1985; and
<br />
<br /> WHEREAS, the City desires to obtain the assistance of a cable
<br />consultant in evaluating the performance of the cable operator and
<br />negotiating a new franchise agreement;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
<br />Charlottesville that the sum of $13,000 is hereby appropriated from the
<br />unappropriated balance of the General Fund.to expenditure account 01-13030
<br />for this purpose.
<br />
<br /> Mr. Hendrix stated that the resolution would extend the bond anticipation
<br />notes used for the Charlottesville High School project for six months at which
<br />time they would be converted to permanent-bonds.
<br />
<br /> On motion by Dr. Gunter, seconded by Dr. Hall, the resolution authorizing
<br />extension of general improvement bond anticipation note was unanimously
<br />approved by Council.
<br />
<br /> WHEREAS, the Council of the City of Charlot'tesville, Virginia (the
<br />"City") on March IS, 1982 adopted an ordinance entitled "AN ORDINANCE
<br />AUTHORIZING THE ISSUANCE OF THREE MILLION DOLLARS ($3,000,000) PRINCIPAL
<br />AMOUNT OF GENERAL OBLIGATION GENERAL IMPROVEMENT BONDS OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE
<br />COST OF PUBLIC SCHOOL IMPROVEMENTS OF AND FOR SUCH CITY; FIXING THE FORM,
<br />DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS; PROVIDING FOR THE
<br />SALE OF SUCH BONDS AND PRESCRIBING THE FORM OF A NOTICE OF SALE THEREFOR;
<br />AND AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A
<br />LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN
<br />ANTICIPATION OF THE ISSUANCE AND SALE OF SUCH BONDS" (the "Bond Ordinance"),
<br />authorizing the issuance of $3,000,000 principal amount of General Obligation
<br />General Improvement Bonds of the City (the."BOnds") for the purpose of
<br />providing funds to pay the cost of public school improvements and further
<br />authorizing the issuance of general obligation bond anticipation notes in
<br />anticipation of the issuance of the Bonds;
<br />
<br /> WHEREAS, pursuant to the Bond Ordinanc.e, the City on April 21, 1982
<br />issued $3,000,000 principal amount of General Improvement Bond Anticipation
<br />Notes, dated Ap.ril 21, 1982 and maturing April 17, 1984 (the "1982 Notes");
<br />
<br /> WHEREAS, in order to provide for the payment of the 198.2 Notes at the
<br />maturity, the City on February 1, 1.984 issued a $3,.000,.000 principal amount
<br />General Improvement Bond Anticipation Note, dated February 1, 198.4 and
<br />maturing February 1, 1985 (the "1984 Note"), which note was purchased by,
<br />issued to and registered in the name of the United Virginia Bank (the
<br />"Noteholder"); and
<br />
<br /> WHEREAS, the City is willing to agree to extend the maturity of the
<br />1984 Note to August 1, 1985 at the same rate of interest and with all
<br />other terms, conditions and provisions of the 1984 Note to remain the
<br />same, and the Noteholder is willing to agree to the extension of the
<br />maturity of the 1984 Note on such terms;
<br />
<br /> NOW, THEREFORE, BE~ IT RESOLVED BY THE COUNCIL OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA:
<br />
<br /> 1. Extension of Maturity of 1'984' Note.. Subject to the written
<br />consent of the United Virginia Bank as ~stered owner of the City's
<br />$3,000,000 aggregate principal amount General Improvement Bond Anticipation
<br />Note, dated February 1, 1984 and maturing February 1, 1985 (the "1984 Note"),
<br />the maturity of the 1984 Note is hereby extended from February 1, 1985 to
<br />August 1, 198S and the 1984 Note shall mature andbecome due and payable
<br />on August 1, 198S. Nortwithstanding the extension of the maturity of the
<br />1984 Note in accordance with the immediately preceding sentence, the rate
<br />of interest and all other terms, conditions and provisions set forth in
<br />the 1984 Note as issued shall remain in full force and effect.
<br />
<br /> 2. This Resolution shall take effect upon'its passage.
<br />
<br /> The ordinance entitled "AN ORDINANCE TO AMEND AND REORDAIN SECTION
<br />31-78, .AS AMENDED, OF THE CODE'OF THE CITY OF CHARLOTTESVILLE, 1976, RELATING
<br />TO PERMITTED usES IN B-1 DISTRICTS" which was offered at the meeting of
<br />January 7th, was approved by the following vote. Ayes: Mr. Barnes, Mr. Buck,
<br />Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br />
<br />
<br />
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