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<br />
<br />NOTICE OF SPECLA~L MEETING
<br />
<br />A SPECIAL MEETING OF THE COUNCIL WILL BE HELD ON Wednesday, June 19,
<br />1996 AT 12:00 noon at the Fry's Spring Beach Club.
<br />
<br />THE PROPOSED AGENDA IS AS FOLLOWS:
<br />
<br />RESOLUTION: Review and approval of bond bids
<br />
<br />APPROPRIATION: $60,000 - Advance to Monticello Area Community Action
<br />Agency Board
<br />
<br />BY ORDER OF THE MAYOR
<br />
<br />BY Jeanne Cox (signed)
<br />
<br />FRY'S SPRING BEACH CLUB - June 19, 1996
<br />
<br /> Council met in special session on this date with the following members present: Ms.
<br />Daugherty, Ms. Slaughter, Mr. Toscano Absent: Rev. Edwards and Mr. Vandever.
<br />
<br />RESOLUTION: APPROVING BOND BIDS
<br />
<br /> On motion by Ms. Daugherty, seconded by Ms. Slaughter, the resolution entitled "A
<br />RESOLUTION MAKING CERTAIN FINDINGS CONCERNING THE BIDS
<br />SUBMITTED FOR THE PURCHASE OF NINE MILLION FIVE HUNDRED
<br />THOUSAND DOLLARS $9,500,000) PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 1996, OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA; ACCEPTING A PROPOSAL TO PURCHASE SUCH
<br />BONDS; DESIGNATING SUCH BONDS AS "QUALIFIED TAX-EXEMPT
<br />OBLIGATIONS" FOR PURPOSES OF SECTION 265 OF THE INTERNAL REVENUE
<br />CODE OF 1986; FIXING THE RATES OF INTEREST TO BE BORNE BY AND
<br />CERTAIN OTHER DETAILS OF SUCH BONDS; ANT) APPOINTING A REGISTRAR
<br />AND PAYING AGENT FOR SUCH BONDS" was approved by the following vote. Ayes:
<br />Ms. Daugherty, Ms. Slaughter, Mr. Toscano. Noes: None. Absent: Rev. Edwards and Mr.
<br />Vandever.
<br />
<br /> WHEREAS, pursuant to an ordinance, entitled "AN ORDINANCE AUTHORIZING
<br />THE ISSUANCE OF NINE MILLION FIVE HUNDRED THOUSAND DOLLARS
<br />($9,500,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC
<br />IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, FOR
<br />THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF VARIOUS PUBLIC
<br />IMPROVEMENT PROJECTS OF AND FOR THE CITY; FIXING THE FORM,
<br />DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS; AND
<br />PROVIDING FOR THE SALE OF SUCH BONDS," adopted by the Council of the City of
<br />Charlottesville, Virginia (the "City") on June 3, 1996, there were authorized to be issued
<br />$9,500,000 principal amount of general obligation bonds of the City (the "Bond Ordinance");
<br />
<br /> WHEREAS, in the judgment of the Council of the City, it is necessary and expedient
<br />to approve the sale of $9,500,000 principal amount of"City of Charlottesville, Virginia,
<br />General Obligation Public Improvement Bonds, Series t996, dated June 1, 1996" (the
<br />"Bonds"), pursuant to the Bond Ordinance.
<br />
<br /> WHEREAS, the City Manager has caused a Summary Notice of Sale of the Bonds
<br />(the "Summary Notice of Sale") to be published on June 10, 1996, in The BondBuyer and
<br />has caused a Detailed Notice of Sale of the Bonds, dated June 1, 1996 (the "Detailed Notice
<br />of Sale") to be prepared and distributed to prospective purchasers of the Bonds, such
<br />Summary Notice of Sale and Detailed Notice of Sale each providing that sealed proposals for
<br />the purchase of the BondS (the "Proposals") would be publicly opened at 10:00 a.m., E.D.T.,
<br />on June 19, 1996;
<br />
<br />
<br />
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