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255
<br />
<br />within the meaning of Section 148(f)(4)(iii) of the Code,
<br />have not issued more than $5,000,000 of tax-exempt
<br />obligations in 1988 (not including "private activity bonds"
<br />as defined in Section 141 of the Internal Revenue Code of
<br />1986, as amended), including $2,364,000 of the Bonds;
<br />
<br /> (b) Barring circumstances unforeseen as of the date
<br />hereof, the City will not issue tax-exempt obligations itself
<br />or approve the issuance of tax-exempt obligations of any of
<br />such subordinate entities if the issuance of such tax-exempt
<br />obligations would, when aggregated with all other tax-exempt
<br />obligations theretofore issued in 1988 by the City and such
<br />subordinate entities, result in the City and such subordinate
<br />entities having issued a total of more than $5,000,000 of
<br />tax-exempt obligations in 1988 (not including private
<br />activity bonds), including $2,364,000 of the Bonds; and
<br />
<br /> (c) The City has no reason to believe that the City
<br />and such subordinate entities will issue tax-exempt
<br />obligations in 1988 in an aggregate amount that will exceed
<br />such $5,000,000 limit including ~2,364,000 of the Bonds~
<br />provided, however, that if the City receives an opinion of
<br />nationally recognized bond counsel that compliance with any
<br />restriction set forth in (b) or (c) above will not prevent
<br />the Authority from having to rebate to the United States any
<br />part of the earnings derived from the investment of the gross
<br />proceeds of the Bonds, the City need not comply with such
<br />restriction.
<br />
<br /> 5. This resolution shall take effect immediately.
<br />ORDINANCE: ~4ENDING ZONING ORDINANCE (2nd reading)
<br />
<br /> Mr. Gouldman stated that the ordinance, as written,
<br />covered renovation but the intent had been to only include
<br />totally new construction.
<br />
<br /> It was the consensus of Council that the City Attorney
<br />redraft the zoning ordinance amendments and consider the
<br />matter on second reading at the next meeting.
<br />
<br />ORDINANCE: 1989 LICENSE TAX ROLL-BACK (2nd reading)
<br />
<br /> The ordinance entitled "AN ORDINANCE TO AMEND AND
<br /> REORDAIN SECTION 15-111, 15-112 AND 15-114 OF THE CODE OF THE
<br /> CITY OF CHARLOTTESVILLE, 1976, AS AMENDED, IN ORDER TO REDUCE
<br /> THE RATE OF TAXATION ON CERTAIN CLASSIFICATIONS OF BUSINESS,
<br /> PROFESSIONAL AND OCCUPATIONAL LICENSES," which was offered at
<br /> the November 21st meeting, was approved by the following
<br /> vote. Ayes: Mr.' Buck, Rev. Edwards, Mr. Towe, Mr. Vandever,
<br /> 'Ms. Waters. Noes: None.
<br />
<br />ORDINANCE: EROSION AND SEDIMENT CONTROL
<br />
<br /> Mr. Hendrix stated that changes are recommended in order
<br />to bring the City Code in compliance with state law.
<br />that the City's ordinance
<br />
<br /> Mr. Towe questioned whether the changes would create
<br />major problems for builders.
<br />
<br /> Mr. Satyendra Huja, Director of Community Development,
<br />stated that most builders presently draw up soil erosion
<br />plans themselves, but it will increase the cost if an
<br />engineer draws the plans.
<br />
<br /> On motion by Mr. Towe, seconded by Mr. Vandever, the
<br />ordinance entitled "AN ORDINANCE TO AMEND AND REORDAIN
<br />SECTIONS 9-1, 9-2, 9-3, 9~4, 9-6, 9-8, 9-9, 9-10, 9'11, 9-12,
<br />9-13, 9,14, AND TO REPEAL SECTIONS 9,5 AND 9'15 OF CHAPTER 9
<br />OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 19'76, AS AMENDED,
<br />RELATING TO STATE-5~NDATED CHANGES IN EROSION AND SEDIMENT
<br />CONTROL AND TO INCLUDE DUPLEX CONSTRUCTION WITHIN THE
<br />
<br />
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