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LEGAL OPINION
<br />WOOD, KING~ DAWSON &
<br />LOGAN RE'. ~3, 000~ 000.
<br />CiTY OF CHARLOTTESVILLE
<br />VIRGINIA, WATER IMP.
<br />BONDS.
<br />
<br />REOUEST RE: PEOPLES
<br />BANK - STEPS ON
<br />LONG ST. BRANCH BANK
<br />
<br />RIGHT OF NAY WITH THE RIGHT OF INGRESS AND EGRESS TO SUCH LINES.
<br />
<br />BE IT FURTHER RESOLVED THAT THE CLERK OF THE COUNCIL BE AND HE
<br />
<br />IS HEREBY DIRECTED TO HAVE THIS STREET VACATION RECORDED IN THE CLERKIS
<br />
<br />OIrFICE OF THE CORPORATION COURT OF THE CITY OF CHARLOTTESVILLE.
<br />
<br />THE LEGAL OPINION OF WOOD, KING, DAWSON ANO LOGAN RE: ~3,000,000.00 CITY
<br />
<br />OF CHARLOTTESVILLE, VIRGINIA, WATER IMPROVEMENT BONDS - SERIES OF 1962 WAS
<br />
<br />PRESENTED AND ORDERED SPREAD IN THE MINUTES OF THIS MEETING:
<br />
<br />AUGUST 28, 1962
<br />
<br />PAUL D. SUMMERS, JR., ESQ.
<br />CITY ATTORNEY
<br />CHARLOTTESVILLE, VIRGINIA
<br />
<br />DEAR SIR:-
<br />
<br />CITY OF CHARLOTTESVILLE, VIRGINIA~ WATER IMPR0VEHENT
<br /> BONDS - SERIES OF 1962,
<br />
<br /> AT THE REQUEST OF THE COUNCIL OF THE CITY OF CHARLOTTESVILLE~
<br />VIRGINIA, WE HAVE EXAMINED INTO THE VALIDITY OF AN ISSUE OF ~3,000,000.
<br />WATER IMPROVEMENT BONDS - SERIES OF 1962 OF THE CiTY OF CHARLOTTESVILLE,
<br />VIRGINIA, DATED AUGUST 1,-1962, NUMBERED FROM 1 TO 600, INCLUSIVE, OF
<br />THE DENOMINATION OF ~5~000 EACH, PAYABLE SERIALLY IN NUMERICAL ORDER
<br />~150,000 BONOS OH AUGUST 1 IN EACH OF THE YEARS 1963 TO 1982, ENCLUS-
<br />IVE, WITHOUT OPTION OF PRIOR REDEMPTION, BONDS MATURING IN THE YEARS
<br />1963 TO 1970, INCLUSIVE, BEARING INTEREST AT THE RATE OF TWO AND ONE-
<br />HALF PER CENTUM PER ANNUM~r BONDS MATURING IN THE YEAR 1971 BEARING
<br />INTEREST AT THE RATE OF TWO AND SIXTY HUNDREDTHS PER CENTUM PER ANNUM~
<br />BONDS MATURING IN THE YEAR 1972 BEARING INTEREST AT THE RATE OF T~O
<br />AND THREE-QUARTERS PER CENTUM PER ANNUM AND BONDS MATURING IN THE
<br />YEARS 1973 TO 1982, INCLUSlVE~ BEARING INTEREST AT THE RATE OF THREE
<br />PER CENTUM PER ANNUM, PAYABLE SEMI-ANNUALLY FEBRUARY 1 AND AUGUST
<br />SAID BONDS RECITING THAT THEY ARE ISSUED FOR THE PURPOSE OF CONSTRUC-
<br />TION OF A WATER IMPOUNDMENT DAM) FILTER PLANT AND STORAGE TANK~ WITH
<br />APPURTENANCES, ABOUT FOUR MILES NORTH OF THE CiTY LIMITS, INCLUDING
<br />THE INSTALLATION OF SUPPLY LINES TO THE CITY'S DISTRIBUTION SYSTEM~
<br />UNDER AND BY VIRTUE OF, AND IN FULL CONFORMITY WITH AND PURSUANT TO
<br />AN ORDINANCE OF THE CiTY OF CHARLOTTESVILLE ADOPTED APRIL 25, 1962,
<br />AND SPREAD IN ORDINANCE BOOK 3, PAGES ~59-~0~ AND APPROVED BY THE
<br />VOTERS OF THE CITY AT AN ELECTION HELD FOR THAT PURPOSE ON dUNE 12,
<br />t96~, IN ACCORDANCE WITH THE CHARTER OF THE CITY OF CHARLOTTESVtLLE~
<br />AND THE CONSTITUTION AND LAWS OF THE STATE OF VIRGINIA~ INCLUDING
<br />CHAPTER 19.1 OF THE CODE OF VIRGINIA OF 1950 AS AMENDED. W£ HAVE
<br />EXAMINED THE CONSTITUTION AND STATUTES OF THE STATE OF VtRGINIA~
<br />INCLUDING THE CHARTER OF THE CITY OF CHARLOTTESVILLEz AND CERTIFIED
<br />COPIES OF PROCEEDINGS OF THE COUNC~IL OF SAID CITY, AUTHORIZING THE
<br />ISSUANCE OF SAID BONOS, ALSO AN EXECUTED BOND OF SAID ISSUE~ NO.
<br />
<br /> IN OUR OPINION SAID BONDS HAVE BEEN AUTHORIZED AND ISSUED
<br />IN ACCORDANCE WITH THE CONSTITUTION AND STATU~ES OF THE STATE OF
<br />VtRGINIA~ INCLUDING THE CHARTER OF THE CiTY OF CHARLOTTESVlLLE~ AND
<br />CONSTITUTE VALID AND LEGALLY BINDING OBLIGATIONS OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINtA~ AND SAID CiTY HAS POWER AND IS OBLIGATED
<br />TO LEVY AD VALOREM TAXES FOR THE PAYMENT OF SAID BONDS AND THE INTER-
<br />EST THEREON UPON ALL PROPERTY WITHIN SAID CITY, SUBdECT TO TAXATION
<br />BY SAID ClTY~ WITHOUT LIMITATION OF RATE OR AMOUNT.
<br />
<br /> IT IS ALSO OUR OPINION THAT THE INTEREST ON SAID BONDS iS
<br />EXEMPT FROM TAXATION BY THE UNITED STATES OF AMERICA UNDER THE CON-
<br />STITUTION OF THE UN1TED STATES AS NOW IN FORCE, UNLESS SUCH TAX IS
<br />CONSENTED TO BY THE STATE OF VIRGINIA) AND THAT SUCH INTEREST IS
<br />EXEMPT FROM SUCH TAXATION UNDER THE EXISTING ACTS OF CONGRESS.
<br />
<br />VERY TRULY YOURS,
<br />
<br />WOOD ~ KING~ DAWSON & LOGAN
<br />
<br />A COMMUNICATION WAS PRESENTED FROM THE PEOPLES NATIONAL BANK REQUESTING
<br />
<br />PERMISSION TO CONSTRUCT STEPS ON LONG STREET TO SERVE ITS BRANCH BANK. THE
<br />
<br />CITY MANAGER RECOMMENDED THAT THIS REQUEST BE GRANTED PROVIDED THE BANK FURNISHES
<br />
<br />THE PROPER BOND. ON MOTION BY MR. LEE~ SECONDED BY MR. PONTON~ THE FOLLOWING
<br />
<br />RESOLUTION ~AS ADOPTED BY THE FOLLOWING VOTE: AYES: MR. LEE, MR. MOUNT~ MR. PON'TON
<br />
<br />AND MR. SCRIBNER. (MR. HAGGERTY NOT VOTING). NOES: NONEI
<br />
<br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE
<br />
<br />THAT THE PEOPLES NATIONAL BANK OF CENTRAL VIRGINIA BE GRANTED AN
<br />
<br />EASEMENT TO CONSTRUCT STEPS ON CITY PROPERTY ON LONG STREET TO
<br />
<br />SERVE THE BRANCH BANK PROVIDED THE BANK FURNISHES PROPER BOND
<br />
<br />SAVING THE CiTY HARMLESS AND THE BANK AGREES TO MAINTAIN THE STEPS.
<br />
<br />THE CITY MANAGER ADVISED THE COUNCIL THAT HE HAD RECEIVED A FLOW THROUGH
<br />
<br />
<br />
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