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-10- <br />10. General obligation bond anticipation notes are authorized for issuance and <br />sale by the City Manager in anticipation of the issuance of the general obligation bonds <br />authorized for issuance herein. Such notes shall mature and be payable within five years from <br />their date and shall be sold at competitive or negotiated sale at such price plus accrued interest <br />and on such other terms and conditions as are determined by the City Manager. If such notes <br />are offered for competitive dale, a Notice of Sale or a Summary Notice of Sale be prepared, <br />published and distributed in accordance with the requirements set forth in Paragraph 8. There <br />shall also be prepared and distributed a Preliminary and a Final Official Statement relating to <br />such notes in such form as shall be approved by the City Manager. The issuance and details of <br />such notes shall be governed by the provisions of Section 15.1-227.29 of the Code of Virginia, <br />1950, as amended. The provisions of Paragraphs 4 and 6 shall apply to such notes to the same <br />extent the same apply to the Bonds except, in the case of the provisions of Paragraph 4, only to <br />the extent such notes are not paid from the proceeds of the Bonds or from any other available <br />funds. The sale of such notes and the form and other details thereof shall be approved, ratified <br />and confirmed by resolution of this Council. Bonds in anticipation of which such bond <br />anticipation notes are issued pursuant to this Paragraph 10 may be issued and sold in accordance <br />with the provisions of this ordinance at any time within five years of the date of issuance of the <br />first notes issued in anticipation of such Bonds. <br />11. The City Attorney of the City is directed to file a copy of this ordinance, <br />certified by the Clerk of Council of the City to be a true and correct copy hereof, with the Circuit <br />Court of the City in accordance with Section 15.1-227.9 of the Code of Virginia, 1950, as <br />amended. <br />• 12. All ordinances and proceedings in conflict herewith are, to the extent of <br />such conflict, repealed. <br />13. This ordinance shall take effect upon its adoption. <br />Introduced: April 18, 1994 <br />Adopted: May 2, 1994 <br />Certified: �� -C—'L <br />Clerk of Council <br />