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<br />CONSIDERATION:
<br />BE {T RESOLVED BY THE COUNCIL OF THE LIT'( OF CHARLOTTESVILLE
<br />RESOLUTION - APPROP. THAT ~i~,~6~.OC BE AND THE SAME IS HEREBY APPROPRIATED FCR THE
<br />CARRIED OVER RE:
<br />INTEREST ON SCH. IMP. BONDS SEMI-ANNUAL INTEREST ON SCHOOL IMPROVEMENT BONDS, SERIES OF 1957.
<br />THE LEGAL OPINION OF WOOD, KING ~ DAWSON REGARDING THE ~'i'.,200,000.00
<br />CITY OF CHARLOTTESVILLE SCHOOL IMPROVEMENT BOPJDS, tiJAS PRESENTED AND ORDERED
<br />SPREAD IN THE MINUTES OF THIS MEETING:
<br />FEBRUARY 13, 1958
<br />JOHN S. BATTLE, JP.., ESQ.,
<br />C1T1' ATTO'r:NE",
<br />COURT SQUARE BU{LDING,
<br />CHARLOTTESVILLE, VIPGINIA.
<br />DEAR SIR:-
<br />CITY OF CHARLOTTESVILLE, VIRGINIA, SCHOOL IMPROVE-
<br />MENT BONDS - SERIES OF 1957, X1,200,000.
<br /> AT THE REQUEST OF THE COUNCIL OF THE CITY OF CHARLOTTESVILLE,
<br /> VIRGINIA, ~•~E HAVE EXAMINED INTO THE VALIDITY GF AN ISSUE OF
<br /> 1,200,000 SCHOOL IMPROVEMENT BONDS - SERIES OF 1957 OF THE CITY
<br /> OF C}iARLOTTESVI'_LE~. ~'~IRGINIA, DATED OCTOBER 1, 1957, NUMBERED FROM
<br /> 1 TO 1200, INCLUSIVE, OF THE DENOMINATION 0~" X1,000 EACH, PAYABLE
<br />LEGAL OPINION- SERIALLY IN NUMERICAL ORDEP. 60,000 BONDS GN OCTOBER 1 IN EACH GF
<br />WOOD, KING Yx DAWSON THE YEARS 1958 TO 1977, INCLUSIVE, WITHOUT OPTION OF PRIOR fiEDEMP-
<br />RE: 1,200,000 TION~ BONDS MATURING iN THE YEARS 1958 TO 1960, INCLUSIVE, BEARING
<br />SCHOOL BONDS -?i957 INTEREST AT THE RATE OF FIVE PER CENTUM PER ANNUM AND BONDS MATUR-
<br /> ING IN THE YEARS 1961 TO 1977, iNCLU5IVE, BEARING INTEREST AT THE
<br /> RATE OF TWO AND FORTY ONE-HUNDREDTHS PER CENTUM PER ANNUM, PAYABLE
<br /> SEMI-ANNUALLY APRIL 1 AND OCTOBER 1; SAID BONDS RECITING THAT THEY
<br /> ARE ISSUED FOR THE PURPOSF_ OF TF;E CONSTRUCTION OF ADDITIONS AND
<br /> IMPROVEMENTS TO SCHOOL BUILDINGS BELONGING TO SAID CITY, UNDER AND BY
<br /> VIRTUE OF. AND IN FULL CONFORMITY WITH AND PURSUANT TO AN ORDINANCE
<br /> OF THE CITY OF CHARLOTTES\'ILLE ADOFTE:D MAY 27, 1957, AND SPREAD IN
<br /> ORDINANCE BOOK S, PAGES 271-272 AND APPROVED BY THE `JOTERS OF THE
<br /> Cll'Y AT A SPECIAL ELECTION HELD FOR THAT PURPOS~~ ON DULY 16, 1957, I<\
<br /> ACCORDANCE bJITFf THE CHARTER OF THE CI T`! OF CHARLOTTESVILLE AND THE
<br /> LA~•/~ OF THE STATE OF VIRGINIA. ~'.JE HAVE EXAMINED THE CONSTITUTION
<br /> AND STATUTES OF TFIE STATE OF VIRGINIA, INCLUDING THC CHART',=R GF
<br /> THE CITY OF I,HARLOTTESViLLE, AND CERTIFIED COPIES OF PROCEEDINGS
<br /> CF TiJE COUNCIL OF SAID CITY, AUTHGRIZING THE ISSUANCE OF SAID BONDS,
<br /> ALSO AN E'/.ELUTED BOND OF SAID ISSUE, N0. 1.
<br />IN OUR OPINION SAID BONDS HAVE BEEN AUTHORIZED AND ISSUED
<br />IN ACCORDANCE 1JITH THE CONSTITUTION AND STATUTES OF THE STATE OF
<br />VIRGINIA, ItJCLUDiNG THE CHARTER OF THE CITY OF CHARLOTTESVILLE,
<br />VIRGINIA, ANO CONST{TUTE `JALID AND LEGALLY BINDING OBLIGATIONS OF
<br />THE C I TY OF C`JARLOTTESV I LLE, ~.f I RG I N I A, AND SA I D C 1 7Y .~AS P041ER AND
<br />IS UBLIGATEC TO LE`.'Y AD VALOREM TAXES FOR THE PAYMENT OF SAID BONUS
<br />AND THE INTEREST THEREON UPON ALL PROPERTY WITHIN SAID CITY, SUBJECT
<br />TO TA~ATIvN B'f SAID CITY, WITHOUT lIMlTATION OF RATE OR AMOUNT.
<br />IT IS ALSO OUR OPINION THAT TriE INTEREST UN SAID BONDS
<br />IS EXF_MPT FROM TAXATION BY THE UNITED STATES OF AMERICA UNDER THE
<br />CONSTITUTION OF THE UNITED STATES AS NOW IN FORCE, UNLESS SUCH TAX
<br />AS CONSENTED TO BY THE STATE OF VIRGINIA, AND THAT SUCH INTEREST
<br />~S EXEMPT FROM SUCH TAXATION UNDER TFIE EXISTING ACTS OF CGNGRESS.
<br />VERY TRULY POURS,
<br />1,b100D, K I NG (~: DAWSON ~ S I GNcD
<br />ON MOTION THE MEETING ADJOURNED.
<br />~~:~-
<br />CLERK PRESIDENT
<br />COUr~C I L CHAi~1BER - r•1ARCH 1 0, 1958
<br />PURSUANT TO THE FOLLOWING CALL:
<br />MR. A. C. COLEMAN
<br />MR. R. r~~I. DAV l5
<br />MR . T ~. r~'11 CH I E
<br />r~1R. L. L. SCR I BNER
<br />r~R. S. B. ~+'/EINBERG
<br />TAKE rIOT I CE
<br />A SPECIAL MEETING OF THE COUNCIL WILL BE HELD THIS AFTERNOON
<br />TtiE 1OTH INST. AT 2:00 O}CLOCK.
<br />1. AIRPORT IMPROVEMENTS.
<br />THIS IS A JOINT h1EETING WITH ALBEMARLE COUNTY BOARD OF SUPEf2`JISORS~
<br />BY CRDER OF
<br />.~. S. RUJH, JR. ~SIGNEDj R. M. DAMS (,SIGNED}
<br />
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