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<br />
<br /> On motion by Dr. Hall, seconded by Dr. Gunter, the
<br />resolution entitled "A RESOLUTION MAKING CERTAIN FINDINGS
<br />CONCERNING THE BUDS SUBMITTED FOR THE PURCHASE OF FIVE
<br />MILLION DOLLARS ($5,000,000) PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES 1985, OF THE
<br />CITY OF CHARLOTTESVILLE, VIRGINIA; ACCEPTING A PROPOSAl
<br />TO PURCHASE SUCH BONDS; FIXING THE RATES OF INTEREST TO
<br />BE BORNE BY SUCH BONDS; APPROVING THE FORM OF SUCH BONDS;
<br />AND APPOINTING THE REGISTRAR FOR SUCH BONDS" was approved
<br />by the following vote. Ayes: Mr. Barnes, Mr. Buck, Mrs.
<br />Gleason, Dr. Gunter, Dr. Hall.. Noes: None.
<br />
<br /> WHEREAS, pursuant to an ordinance, entitled "AN
<br />ORDINANCE AUTHORIZING THE ISSUANCE OF ONE MILLION FIVE
<br />HUNDRED THOUSAND DOLLARS ($1,500,000) PRINCIPAL AMOUNT OF
<br />GENERAL OBLIGATION GENERAL IMPROVEMENT BONDS OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS
<br />TO PAY THE COST OF ACQUIRING, CONSTRUCTING, RECONSTRUCTING,
<br />IMPROVING, EXTENDING, ENLARGING AND EQUIPPING THE GAS DISTRIBUTION
<br />SYSTEM OF AN FOR SUCH CITY; FIXING THE FORM, DENOMINATION AND
<br />CERTAIN OTHER FEATURES OF SUCH BONDS; PROVIDING FOR THE SALE
<br />OF SUCH BONDS AND PRESCRIBING THE FORM OF A NOTICE OF SALE
<br />THEREFOR; AUTHORIZING AND PROVIDING WITH RESPECT TO THE
<br />ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE
<br />ISSUANCE AND SALE OF SUCH BONDS; APPROVING THE SALE OF SUCH
<br />NOTES; FIXING THE RATE OF INTEREST TO BE BORNE BY SUCH NOTES;
<br />AND APPROVING THE FORM OF SUCH NOTES," adopted by the Council
<br />of the City of Charlottesville, Virginia (the "City) on
<br />September 20, 1981 (the "1981 Ordinance"), there were authorized
<br />to be issued $1,S00,000 principal amount of general obligation
<br />bonds of the City;
<br />
<br /> WHEREAS, pursuant to the authorization in the 1981
<br />Ordinance, there were issued $1,500,000 principal amount of
<br />general obligation General Improvement Bond Anticipation Notes
<br />(dated as of October 6, 1981 and maturing on October 6, 1983
<br />(the "1981 Notes");
<br />
<br /> WHEREAS, pursuant to an ordinance, entitled "AN ORDINANCE
<br />AUTHORIZING THE ISSUANCE OF ONE MILLION FIVE HUNDRED THOUSAND
<br />DOLLARS (41,500,000) PRINCIPAL AMOUNT OF GENERL OBLIGATION
<br />GENERAL IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA,
<br />FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF ACQUIRING,
<br />CONSTRUCTING, RECONSTRUCTING, IMPROVING, EXTENDING., ENLARGING
<br />AND EQUIPPING THE. GAS DISTRIBUTION SYSTEM OF AND FOR SUCH CITY;
<br />FIXING THE FORM, DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH
<br />BONDS; PROVIDING FOR THE SALE OF SUCH BONDS AND PRESCRIBING
<br />THE FORM OF A NOTICE OF SALE THEREFOR; AND AUTHORIZING AND
<br />PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A LIKE
<br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES
<br />IN ANTICIPATION OE THE ISSUANCE AND SALE OF SUCH BONDS," adopted
<br />by the Council on June 20, 1983 (the "June 20, 1983 Bond Ordinance"),
<br />in order to provide for the issuance of fully registered bonds as
<br />required by the Tax Equity and Fiscal Responsibility Act of 1982,
<br />there were authorized to be issued $1,500,000 principal amount
<br />of general obligation bonds and a like principal amount of
<br />general obligation bond anticipation notes mn anticipation of
<br />the issuance and sale of such bonds, in lieu of and in substitution
<br />for the general obligation bonds and bond anticipation notes
<br />authorized by the 1981 Ordinance;
<br />
<br /> WHEREAS, pursuant to the authorization of the June 20, 1983
<br />Bond Ordinance and a resolution adopted by the Council on
<br />September 12, 1983, there were issued $1,500,000 principal amount
<br />of general obligation General Obligation Bond Anticipation Notes
<br />dated as of September 15, 1983 and maturing on September 14,
<br />1984 (the "1985 Notes"), which were issued for the purpose of
<br />providing for the payment of the principal amount of the 1981
<br />Notes at their stated maturity;
<br />
<br /> WHEREAS, pursuant to the authorization of the June 20, 1983
<br />Bond Ordinance and resolutions adopted by the Council of the
<br />City on September 4, 1984 and September 6, 1984, there has
<br />heretofore been issued and is outstanding a gl,S00,000 principal
<br />
<br />
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