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12 <br /> <br />NOTICE OF SPECIAL MEETING <br /> <br />A SPECIAL MEETING OF THE COUNCIL WILL BE HELD ON Monday, <br />April 29, 1985 AT S:00 a.m. IN THE Basement Conference ROom. <br /> <br />THE PROPOSED AGENDA IS AS FOLLOWS: <br /> <br />RESOLUTION: <br />RESOLUTION: <br />RESOLUTION: <br /> <br />Authorizing sale Of $9.5 million bond <br />anticipation notes <br />Approving temporary loan to Charlottesville <br />Redevelopment and Housing Authority <br />Authorizing Mayor to-s~gn release of claim <br />against Nipak Pipe of Delaware, Inc. <br /> <br />Executive session to discuss legal mattera as exempted <br />by Section 2.1-344(a)(6) of the Virginia Freedom of <br />Information Act. <br /> <br />BY ORDER OF THE MAYOR <br /> <br />BY Jeanne Cox (signed) <br /> <br />BASEMENT CONFERENCE ROOM April 29, 1985 <br /> <br /> Council met in special session on this date with the <br />following, members present: Mr. Barnes, Mr. Buck, Mrs. Gleason, <br />Dr. Gunter, Dr. Hall. <br /> <br />RESOLUTION: <br /> <br />NOTE <br /> <br />AUTHORIZING SALE OF A g9.S MILLION BOND ANTICIPATION <br /> <br /> Mr. Roger Wiley, City Attorney, stated that the resolution <br />would authorize the sale of a $9.S~million bond anticipation <br />note to be used to finance the Vinegar Hill project. Mr. Wiley <br />recommended that Council accept the proposal made by United <br />Virginia Bank for the note at an interest rate of 5.85%. <br /> <br /> On a question by Mr. Buck, Mr. Wiley stated that the <br />resolution would authorize the sale of the notes which had <br />been held up by the DeHaan lawsuit, which was ultimately <br />decided in the City's favor. <br /> <br /> On motion by Mrs. Gleason, seconded by Dr. Hall, the <br />resolution entitled "A RESOLUTION MAKING CERTAIN FINDINGS <br />CONCERNING THE PROPOSAL SUBMITTED FOR THE PURCHASE OF A NINE <br />MILLION FIVE HUNDRED THOUSAND DOLLARS ($9,S00,000) PRINCIPAL <br />AMOUNT GENERAL IMPROVEMENT BOND ANTICIPATION NOTE OF THE <br />CITY OF CHARLOTTESVILLE, VIRGINIA; ACCEPTING THE PROPOSAL TO <br />PURCHASE SUCH NOTE; FIXING THE RATE OF INTEREST TO BE BORNE <br />BY SUCH NOTE; AND APPROVING THE FORM OF SUCH NOTE" was <br />approved by the following vote. Ayes: Mr. Barnes, Mr. Buck, <br />Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None. <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTES- <br />VILLE, VIRGINIA: <br /> <br /> 1. The Council of the City of Charlottesville, Virginia <br />(the "Council") hereby finds and determines that the proposal <br />(the "Prosal") of United Virginia Bank, Charlottesville (the <br /> "Purchaser"), to purchase from the City of Charlottesville, <br /> Virginia (the "City") a nine million five hundred thousand <br /> dollars ($9,500,000) principal amount City of Charlottesville, <br /> Virginia, General Improvement Bond Anticipation Note, dated <br /> as of April 29, 1985 (the "Note"), authorized to be issued <br /> by an ordinance adopted by this Council on October 27, 1983, <br /> entitled "AN ORDINANCE AUTHORIZING THE ISSUANCE OF g9,500,000 <br /> GENERAL OBLIGATION BONDS AND $9,500,000 GENERAL OBLIGATION <br /> BOND ANTICIPATION NOTES OF THE CITY OF CHARLOTTESVILLE" (the <br /> "Bond Ordinance"), is fair and reasonable and that the <br /> acceptance of the Proposal is in the best interest of the City. <br /> <br /> 2. The Proposal of the Purchaser to purchase the Note <br />for a purchase price equal to nine million five hundred thousand <br />dollars ($9,500,000) and accrued interest from the date of the <br /> <br /> <br />