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15 <br /> <br /> than the form attached to the Bond Ordinance as Exhibit A, are <br /> merely variations as to form and that the Note sold pursuant <br /> hereto is substantively in compliance with the limitations <br /> provided for bond anticipation notes in the Bond Ordinance. <br /> <br /> 8. The City Attorney of the City is directed to file a <br /> copy of this resolution, certified by the Clerk of Council <br /> of the City to be a true and correct copy hereof, with the <br /> Clerk of the Circuit Court of the City. <br /> <br /> This resolution shall take effect upon its passage. <br /> <br />RESOLUTION: APPROVING TEMPORARY LOAN TO CHARLOTTESVILLE REDEVELOPMENT <br />A~-~G AUTHORITY <br /> <br /> Mr. Wiley stated that the resolution would authorize a <br />temporary loan of $500,000 to the Charlottesville Redevelopment <br />and Housing Authority to finance a portion of the expenses <br />involved in repurchasing the interest of Lawler and Wood as <br />owners of the Vinegar Hill project. Mr. Wiley added that the <br />loan would be repaid to the City by the close of fiscal 1986. <br /> <br /> On motion by Dr. Gunter, seconded by Mrs. Gleason, the <br />resolution authorizing the temporary loan of $500,000 to the <br />Charlottesville Redevelopment and Housing Authority was approved <br />by the following vote. Ayes: Mr. Barnes, Mr. Buck, Mrs. Gleason, <br />Dr. Gunter, Dr. Hall. Noes: None. <br /> <br /> BE IT RE.SOLVED by the Council of the City of Charlottesville, <br />Virginia that the~ City Treasurer and the Director of Finance are <br />authorized to make a loan of $500,000 from the General Fund of <br />the City to the Charlottesville Redevelopment and Housing <br />Authority, to be used by the Authority in furtherance of its <br />public purposes. Such loan shall bear no interest and shall be <br />repaid by the Authority on or before June 30', 1986. <br /> <br />RESOLUTION: AUTHORIZING MAYOR TO SIGN RELEASE OF CLAIM AGAINST <br />NIPAK PIPE OF DELAWARE, INC. <br /> <br /> Mr. Wiley .stated that a settlement of $90,000 had been <br />arranged with ~ipak Pipe of Delaware, Inc. after the City had <br />filed suit following discovery of defective gas pipe. Mr. <br />Wiley recommended accepting the settlement as it had been <br />discovered that Nipak Pipe has limited resources. <br /> <br /> On motion by Dr. Hall, seconded by Mrs. Gleason, the <br />resolution authorizing the settlement with Nipak Pipe of <br />Delaware, Inc. was approved by the following vote. Ayes: <br />Mr. Barnes, Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. <br />Noes: None. <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville <br />that the Mayor is hereby authorized to execute on behalf of the <br />City the following document, in form approved by the City Attorney: <br /> <br />Release and Settlement Agreement between the City <br />of Charlottesville, Virginia and Nipak Pipe of <br />Delaware, Inc. <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 />A [ ~ T~e~. ~Co. uncil <br /> <br />meeting was recessed until 2:00 p.m. on <br /> <br /> <br />