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103 matters as were identified in the motion convening the closed meeting were heard, discussed or considered by the Council. The meeting was adjourned. PreSideq NOTICE OF SPECIAL MEETING A SPECIAL MEETING OF THE CHARLOTTESVILLE CITY COUNCIL WILL BE HELD ON Tuesday, June 6, 2000 AT 11:45 a.m. IN THE Second Floor Conference Room. THE PROPOSED AGENDA IS AS FOLLOWS: RESOLUTION: Approving Bond Bid BY ORDER OF THE MAYOR BY Jeanne Cox (signed) SECOND FLOOR CONFERENCE ROOM - June 6, 2000 Council met in special session on this date with the.following members present: Mr. Cox, Ms. Daugherty, Mr. Toscano. Absent: Mr. Caravati and Ms. Richards. RESOLUTION: APPROVING BOND BID Ms. Rita Scott, Director of Finance, explained that six bids had been received over the intemet for the $9 million bond issue, and the low bid was 5.345%. On motion by Mr. Toscano, sec~onded by Mr. Cox, "A RESOLUTION MAFd-NG CERTAIN FINDINGS CONCERNING THE BiDS SUBMITTED FOR THE PURCHASE OF NiNE MILLION DOLLARS $9,000,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 2000, OF THE CITY OF CHARLOTTESVILLE, VIRGINIA; ACCEPTING A BID TO PURCHASE SUCH BONDS; DESIGNATING SUCH BONDS AS "QUALIFIED TAX- EXEMPT OBLIGATIONS" FOR PuRpOSES OF SECTION 265 OF THE INTERNAL REVENUE CODE OF 1986; FIXING THE RATES OF INTEREST TO BE BORNE BY AND CERTAIN OTHER DETAILS OF SUCH BONDS; AND APPOINTING A REGIS~ AND PAYING AGENT FOR SUCH BONDS" was approved by the following vote. Ayes: Mr. Cox, Ms. Daugherty, Mr. Toseano. Noes: None. Absent: Mr. Caravati and Ms. Richards. WltEREAS, pursuant to an ordinance, entitled "A2,t ORDYNANCE AUTHORIZING THE ISSUANCE OF NINE MILLION DOLLARS ($9,000,000) PRINCIPAL AMOUNT OF GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE CiTY OF CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF VARIOUS PUBLIC II'dPROVEMENT PROJECTS OF 3241) FOR ThE CITY; FIX1NG THE FORM, DENOMYNATION AND CERTAIN OTHER FEATURES OF SUCH BONDS; AND PROVIDING FOR THE SALE OF SUCH BONDS," adopted by the Council of the City of Charlottesville, Virginia (the "City") on June 5, 2000, there were authorized to be issued $9,000,000 principal amount of general obligation bonds of the City (the "Bond Ordinance"); WltEREAS, in the judgment of the Council of the City, it is necessary and expedient to approve the sale of $9,000,000 principal amount of "City of Charlottesville, Virginia, General Obligation Public Improvement Bonds, Series 2000, dated June 1, 2000" (the "Bonds"), pursuant to the Bond Ordinance;