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<br />
<br />E. Main Street was unanimously approved by Council.
<br />
<br /> BE IT RESOLVED by the Council of the City of
<br />Charlottesville that the Mayor is hereby authorized to
<br />execute on behalf of the City the following document, in form
<br />approved by the City Attorney:
<br />
<br /> Deed of Easement from the City to Ronald D.
<br />Wiley, Jr., Trustee for the 524 East Main Street
<br />Land Trust, and to William H. Boozer and Tracey S.
<br />Boozer, owners of 520 East Main Street, granting
<br />permission for certain encroachments within a
<br />certain non-exclusive private easement near.524
<br />East Main Street
<br />
<br /> A copy of such document shall be kePt on file with the
<br /> minutes of the Council meeting at which this resolution was
<br /> adopted.
<br />
<br />RESOLUTION: AUTHORIZING ISSUANCE OF ~10 MILLION REVENUE BOND BY
<br />AIRPORT AUTHORITY
<br />
<br /> Mr. Hendrix stated that the Charlottesville-Albemarle
<br />Airport Authority proposes to issue bonds to partially fund
<br />the following projects: terminal, hanger and office complex,
<br />outstanding debt for hanger previously bought, note for
<br />parking lot, and to cover short-term loans. Mr. Hendrix
<br />stated that the remainder of funding would come from the
<br />following sources: Virginia Department of Aviation, Federal
<br />Department of Aviation, rents and fees. Mr. Hendrix stated
<br />that the actual amount of the bond is expected to be $8.6
<br />million, but the resolution would authorize up to $10
<br />million.
<br />
<br /> On motion by Rev. Edwards, seconded by Mr. Towe, the
<br />resolution authorizing the issuance of $10 million revenue
<br />bond by the Airport Authority was unanimously approved by
<br />Council.
<br />
<br /> WHEREAS, the Charlottesville-Albemarle Airport Authority
<br />("Authority"), has undertaken the issuance of the Authority's
<br />revenue bonds in an amount not to exceed ~10,000,000
<br />("Bonds") (i) to finance the acquisition, construction and
<br />equipping of a new terminal building consisting of
<br />approximately 59,541 square feet and related facilities,
<br />including approximately 150 additional public parking spaces,
<br />to be located at the Charlottesville-Albemarle Airport, in
<br />Albemarle County, Virginia ("Airport"), (II) to finance the
<br />acquisition, construction and equipping of a general aviation
<br />hangar with attached office space consisting of approximately
<br />21,600 square feet to be located at the Airport; (iii) to
<br />refund the outstanding principal balance of the Authority's
<br />$1,800,000 Parking Revenue Bond Anticipation Note, issued
<br />September 9, 1985~ (iv) to refund the outstanding principal
<br />balance of the Industrial Development Authority of Albemarle
<br />County, Virginia, $575,000 Industrial Development Revenue
<br />Bond (JBC Limited Partnership)., issued May 16, 1984; ~(v) to
<br />make a deposit into a reserve fund established for the Bonds;
<br />and (vi) to pay the costs of issuance of the Bonds
<br />(collectively, the "Projects"), and has held a public hearing
<br />thereon onNovember 10, 1988~
<br />
<br /> WHEREAS, Section 147(f) of the Internal Revenue Code of
<br />1986, as amended ("Code"), provides that the governmental
<br />unit having jurisdiction over the issuer of private activity
<br />bonds and over the area in which any facility financed with
<br />the proceeds of private activity bonds is located must
<br />approve the issuance of the bonds~
<br />
<br /> WHEREASj the Authority issues its bonds on behalf of the
<br />City of Charlottesville, Virginia ("City"), and Albemarle
<br />County, Virginia, and the Council of the City of
<br />Charlottesville, Virginia ("Council"), constitutes the
<br />
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