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180 <br /> <br />ORDINANCE: AUTHORIZING ISSUANCE OF $7 MILLION BOND <br /> <br /> On motion by Rev. Edwards, seconded by Mr. Buck, the <br /> ordinance entitled "AN ORDINANCE AUTHORIZING THE ISSUANCE OF <br /> SEVEN MILLION DOLLARS ($7,000,000) PRINCIPAL AMOUNT OF <br /> GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE CITY OF <br /> CHARLOTTESVILLE, VIRGINIA,..FOR THE PURPOSE OF PROVIDING FUNDS <br /> TO PAY THE COST OF PUBLIC IMPROVEMENT PROJECTS-OF AND FOR THE <br /> CITY; FIXING THE FORM, DENOMINATION AND CERTAIN OTHER <br /> FEATURES OF SUCH BONDS; PRESCRIBING THE FORM OF A-NOTICE OF <br /> SALE FOR SUCH'BONDS; PROVIDING FOR THE-SALE OF SUCH BONDS; <br /> AND AUTHORIZING AND PROVIDING WITH RESpEcT TO THE ISSUANCE <br /> AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION <br /> BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND <br /> SALE OF SUCH~BONDS" was offered and carried over to.the <br /> special meeting on February 21St. <br /> <br />RESOLUTION: AUTHORIZING NoTIcE~OF SALE OF $615-MILLION BONDS <br /> <br /> ~ On motion by Rev. ~Ed~ards, Seconded bY Mr. TOwe, the <br />resolution entitled ,RESOLUTION OF THE COUNCIL OF'-THE CITY OF <br />CHARLOTTESViLLE, ViRGiNiA~:AUTHORiZiNG'AND~DIRECTING THE~CITy <br />MANAGER TO CAUSE TO BE PUBLISHED A SUMMARY NOTICE OF SALE oF <br />$6,500,000 PRINCIPAL AMOUNT OF PUBLIC IMPROVEMENT BONDS, <br />SERIES 1990, AND TO CAUSE T0 BE PREPARED A PRELIMINARY <br />OFFICIAL STATEMENT, A DETAILED NOTICE OF SALE AND A BID FORM <br />RELATING TO SUCH BONDS" was UnanimOUslY approved by CounCil. <br /> <br /> WHEREAS,. this council wishes to authorize and direct the <br />City Manager to cause to be pUblished a summary NotiCe of <br />Sale of $6,500,000 aggregate principal amoUnt of Public <br />Improvement Bonds, Series~!990 (the "Bonds,'), of the city of <br />CharlotteSVille, virginia (the "City"),~f0r the purpose§ of <br />paying the costs of the various caPital'improVement projects <br />of the City and to cause~t0 be p~epared~a PreliminarY <br />Official Statement, a Detailed Notice of Sale and a Bid Form <br />relating to the Bonds; <br /> <br /> NOW, THEREFORE, BE-IT RESOLVED BY'THE COUNCIL OF~THE <br />CITY OF~CHARLOTTESVILLE, .VIRGINIA: <br /> <br /> sEcTION 1, iauthorization and DireCtion to'PubliSh <br />summary Notice of Sale. Of $'6,500',000 PrinciPal Amount of <br />Public Obligation Bonds. ~The CitY'Manager of the City is <br />authorized and directed, to cause to be'Published in The BOnd <br />Buyer, a financial journal published in'the~City of New York, <br />New York, a Summary Notice of Sale of $6,500,000 aggregate <br />principal amount of PubliC. Improvement Bonds, Series 1990, of <br />the City (hereinbefore'defined as the "BOnds"), sUch <br />publication to be made at least ten (10) days prior to the <br />date proposals for the purchaSe of the Bonds are to be <br />received by this Council. Such Summary NOtice of Sale shall <br />be in substantially the form presented to and filed with the <br />minutes of the meeting at whiCh this reSOlUtion is being <br />adopted, with such changes as the City.Manager shall approve <br />upon~.~the advice of the financial ~advisors and legal counsel <br />to the City in order to reflect the details of the B°nds, <br />such details to be subject 'in all respectS to the <br />ratification, approval and confirmation by this Council prior <br />to or at the time such proPosals are reCeived by this <br />Council. <br /> <br /> SECTION 2. Authorization and Direction to Prepare <br />Preliminary Official Statement, Detailed ~otice of Sale and <br /> <br />Bid Form.i The CitY Manager of the Cit~y iis hereby 'authOrized <br />and directed to cause 'to_be prepared a~preliminary~Officiai <br />Statement, a Detailed NOtice of sale'and a Bid Form relating <br />to the Bonds ~and to cause~the Same to be distribUted~t° ~ <br />prospeCtive purchasers'of the BOnds. ~ <br /> <br />PRESENTATION: HEART ASSOCIATION <br /> <br /> <br />