1973-04-02 - Laserfiche WebLink

Home Browse Search

STUDY REQUESTED RE: CITIZEN PARTICIPATION IN GOVERNMENT APPROP. - TRAFFIC IMPROVEMENTS - BARRACKS ROAD SHOP. CENTER ORDINANCE ADOPTED RE: SEc. 2-206 RETIREMENT PLAN ORDINANCE ADOPTED RE: SEC. 18-79.1 BEARING INTEREST AT THE RATES SET FORTH IN SECTION 2 HEREOF. SECTI:ON 2. THE BONDS MATURING IN THE YEARS SET FORTH BELOW SHALL, IN ACCORDANCE WITH THE Bid ACCEPTED IN SECTION 1 ABOVE~ BEAR INTEREST AT THE RESPECTIVE RATE PER ANNUM SET OPPOS~.TE THE RESPECTIVE YEAR, AS FOLLOWS: YEAR OF INTEREST YEAR OF INTEREST HATURITY RAT_ E MATURITY RATE 1974 5.00~ 1 984 4.50~ 1 975 5.00~ 1 985 4.60~ '1 976 5.00~ 1986 4.65~ 1977 5.00~ 1987 4.70~ t 978 5.00~ 1988 4.75~ 1979 4. t5~ 1989 4.80~ 1980 4.25~ 1990 4.85~ 1981 4.30~ 1991 4.85~ 1 982 4.35~ 1 992 4.90~ 1 983 4.40~ 1993 4.90~ SECTION 3. NO USE OF THE PROCEEDS OF SALE OF THE BONDS SHALL BE MADE WHICH, IF SUCH USE HAD BEEN REASONABLY EXPECTED ON THE DATE OF ISSUE OF THE BONDS~ WOULD HAVE CAUSED THE BONDS TO BE "ARBITRAGE BONDS~ AS DEFINED IN SUBSE'CTION (D) (2) OF SECTION 103 OF THE U. S. INTERNAL REVENUE CODE OF 1954, SUBJECT TO TREATMENT UNDER SUBSECTION (D) (1) OF SAID SECTION 103. THE CiTY SHALL COMPLY WITH THE REQUIREMENTS OF SUBSECTION (D) OF SECTION 10,3 OF SAID INTERNAL REVENUE CODE AND THE APPLICABLE REGULATIONS OF THE INTERNAL REVENUE SERVICE ADOPTER THEREUNDER, THROUGH- OUT THE TERM OF THE BONDS. THE PROVISIONS OF THIS SECTION SHALL BE A COVENANT WITH THE PURCHASERS OF THE BONDS. SECTION 4. THE BONDS SHALL, AS SOON AS PRACTICABLE, BE PREPARED, EXECUTED AND DELIVERED AT THE EXPENSE OF THE CITY OF CHARLOTTESVILLE, VIRGINIA~ TO THE AFORESAID PURCHASERS IN ACCORDANCE WITH THE PROVISIONS OF THE AFORESAID ORDINANCE AND THIS RESOLUTION AND UPON PAYMENT OF THE BALANCE OF THE PURCHASE PRICE THEREFOR. SECTION 5. THE CiTY CLERK IS HEREBY AUTHORIZED AND DIRECTED TO FILE A CERTIFIED COPY OF THIS RESOLUTION WITH THE CLERK OF THE CORPORATION COURT HAVING JURISDICTION OVER THE CiTY OF CHARLOTTESVILLE~ VIRGINIA. SECTION 6. THIS RESOLUTION SHALL TAKE EFFECT UPON ITS PASSAGE. ON NOTION BY MR. VAN YAHRES, SECONDED BY MRS. RINEHART THE CITY MANAGER'S OFFICE WAS REQUESTED TO STUDY POSSIBLE WAYS TO INCREASE CITIZEN~PARTICIPATION IN GOVERNMENT AND POSSIBLY THE ELECTION OF COUNCILMEN FROH NEIGHBORHOODS OR WARDS. THE RESOLUTION APPROPRIATING ~50,000 FOR TRAFFIC IMPROVEMENTS TO THE BARRACKS ROAD SHOPPING CENTER, WHICH WAS OFFERED AT THE MEETING OF THE COUNCIL ON MARCH 19, 1973, WAS ADOPTED BY THE FOLLOWING RECORDED VOTE~ AYES: MR. BARBOUR~ HR. FIFE, MR. GILLtAM~ MRS. RINEHART AND HR. VAN YAHRES. NOES: NONE. AN ORDINANCE ENTITLED "AN ORDINANCE TO AMEND AND REORDAIN SECTION 2-206 OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1965~ RELATING TO THE SUPPLEMENTAL RETIR£iVENT PLAN IN ORDER TO PROVIDE FULL RETIREMENT BENEFITS FOR PERSONS HAVING FORTY-FIVE YEARS CONTINUOUS FULL-TIME SERVICE REGARDLESS OF AGE", WHICH WAS OFFERED AT THE MEETING OF THE COUNCIL ON MARCH 19, 1973~ WAS ADOPTED BY THE FOLLOWING RECORDED VOTE: AYES: MR. BARBOUR, HR. FIFE, MR. GILLIAM~ MRS. RINEHART AND ~!~. VAN YAHRES. NOES: NONE. AN ORDINANCE ENTITLED "AN ORDINANCE TO AMEND AND REORDAIN SECTION 18-79.1 OF THE CODE OF THE CITY OF CHARLOTTESVILLE~ 1965, RELATING TO PARKING OF INOPERABLE VEHICLES ON STREETS AND THEIR REHOVAL'~ WHICH WAS OFFERED AT THE MEETING OF TNE COUNCIL ON MARCH 19, 1973~ WAS ADOPTED BY THE FOLLOWING RECORDED VOTE:AYES: MR. BARBOUR~ HR. FIFE~ MR. GILLIAN~ HRS. RINEHART AND HR. VAN YAHRES. NOES: NONE. ON MOTION BY ~RS. RINEHART~ SECONDED BY ~. GILLIAM~ THE COUNCIL VOTED TO GO INTO EXECUTIVE SESSION TO DISCUSS PERSONNEL MATTERS, BY THE FOLLOWING RECORDED VOTE: AYES: