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<br />
<br />IMPROVEMENT BONDS, SERIES 1987, DATED MAY 1, 1987 AND MATURING
<br />JULY 15, 2.000 TO 2002, BOTH INCLUSIVE, THE CITYtS ~1,750,000
<br />OUTSTANDING PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC
<br />IMPROVEMENT BONDS, SERIES 1989, DATED JANUARY 15, 1989 AND
<br />MATURING ON JULY 15, 2003 TO 2009, BOTH INCLUSIVE, AND THE
<br />CITY'S $1,950,000 OUTSTANDING PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 1990, DATED
<br />FEBRUARY 15,1990 AND MATURING ON AUGUST 15, 2005 TO 2010,
<br />BOTH INCLUSIVE; FIXING THE FORM, DENOMINATION AND CERTAIN
<br />OTHER FEATURES OF SUCH BONDS; PROVIDING FOR THE SALE OF SUCH
<br />BONDS; AND OTHERWISE PROVIDING FOR THE ISSUANCE OF SUCH
<br />BONDS" was approved by the following vote. Ayes: Ms.
<br />Daugherty, Ms. Slaughter, Mr. Toscano, Mr. Vandever. Noes:
<br />None. Absent: Rev. Edwards.
<br />
<br />RESOLUTION: ACCEPTING BID FOR PURCHASE OF GENERAL OBLIGATION
<br />PUBLIC IMPROVEMENT AND REFUNDING BONDS
<br />
<br /> On motion by Mr. Toscano, seconded by Ms.~ Daugherty, the
<br />resolution entitled "A RESOLUTION MAKING CERTAIN FINDINGS
<br />CONCERNING THE BIDS SUBMITTED FOR THE PURCHASE OF GENERAL
<br />OBLIGATION PUBLIC IMPROVEMENT AND REFUNDING BONDS, SERIES
<br />1993, OF THE CITY OF CHARLOTTESVILLE, VIRGINIA; ACCEPTING A
<br />PROPOSAL TO PURCHASE SUCH BONDS AND APPROVING THE DETAILS OF
<br />SUCH BONDS, INCLUDING THE MATURITY DATES, INTEREST PAYMENT
<br />DATES, INTEREST RATES AND REDEMPTION PROVISIONS THEREOF;
<br />DESIGNATING SUCH BONDS AS "QUALIFIED TAX-EXEMPT OBLIGATIONS"
<br />FOR PURPOSES OF SECTION 265 OF THE INTERNAL REVENUE CODE OF
<br />1986; APPOINTING A REGISTRAR AND~PAYING AGENT FOR SUCH BONDS;
<br />APPROVING THE FORM OF AN ESCROW DEPOSIT AGREEMENT RELATING TO
<br />THE REFUNDED BONDS AND APPOINTING AN ESCROW AGENT;
<br />DESIGNATING THE REFUNDED BONDS FOR REDEMPTION; AND OTHERWISE
<br />PROVIDING FOR THE ISSUANCE OF SUCH BONDS AND THE REFUNDING
<br />AND REDEMPTION OF THE REFUNDED BONDS" was approved by the
<br />following vote. Ayes: Ms. Daugherty, Ms. Slaughter, Mr.
<br />Toscano, Mr. Vandever. Noes: None. Absent: Rev. Edwards.
<br />
<br /> WHEREAS, pursuant to an ordinance., entitled "AN
<br />ORDINANCE AuTt{oRIZING THE ISSUANCE OF FOUR MILLION DOLLARS
<br />$4,000,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC
<br />IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA,
<br />FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF 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
<br />of the City of Charlottesville, Virginia (the "City") on
<br />April 19, 1993, there were authorized to be issued $4,000,000
<br />principal amount of general obligation bonds of the City.
<br />
<br /> WHEREAS, pursuant to an ordinance, entitled "AN
<br />ORDINANCE AUTHORIZING THE ISSUANCE OF NOT TO EXCEED SIX
<br />MILLION DOLLARS (~6,000,000) PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION PUBLIC IMPROVEMENT REFUNDING BONDS OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS
<br />TO REFUND IN ADVANCE OF THEIR STATED MATURITIES ALL OR A
<br />PORTION THE CITY'S $750,000 OUTSTANDING PRINCIPAL AMOUNT OF
<br />GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 1987,
<br />DATED MAY 1, 1987 AND MATURING JULY 15, 2000 TO 2002, BOTH
<br />INCLUSIVE, THE CITY'S $1,750,000 OUTSTANDING PRINCIPAL AMOUNT
<br />OF GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 1989,
<br />DATED JANUARY 15, 1989 AND MATURING ON JULY 15, 2003 TO 2009,
<br />BOTH INCLUSIVE, AND THE CITY'S ~1,950,000 OUTSTANDING
<br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC IMPROVEMENT
<br />BONDS, SERIES 1990, DATED FEBRUARY 15, 1990 AND MATURING ON
<br />AUGUST 15, 2005 TO 2010, BOTH INCLUSIVE; FIXING THE FORM,
<br />DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS;
<br />PROVIDING FOR THE SALE OF SUCH BONDS; AND OTHERWISE PROVIDING
<br />FOR THE ISSUANCE OF SUCH BONDS," adopted by the Council of
<br />the City on April 28, 1993 (collectively, with the ordinance
<br />referred to in the first "WHEREAS" clause hereof, the "Bond
<br />Ordinances"), there were authorized to be issued not to
<br />exceed $'6,000,000 principal amount of general obligation
<br />refunding bonds of the City;
<br />
<br />
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