_SEP 16 1963-DEC 19 1977 ORDINANCES 4 COUNCIL

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AN ORDINANCE AMENDING AND REENACTING THE DISTRICT MAP INCORPORATED IN SECTION 4 OF ARTICLE III OF APPENDIX it OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1959, BY THE REZONING OF A TRACT OF LAND ALONG CABELL AVENUE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE THAT THE DISTRICT MAP INCORPORATED IN SECTION 4 OF ARTICLE III OF APPENDIX II OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1959, BE AMENDED BY THE REZONING OF A TRACT OF LAND ALONG CABELL AVENUE AND REENACTED AS FOLLOWS: SECTION 4. DISTRICT MAP. CHANGING FROM R-2 RESIDENTIAL DISTRICT TO R-3 MULTIPLE -DWELLING DISTRICT ALL OF THAT PARCEL OF LAND FRONTING APPROXIMATELY 490 FEET ALONG THE SOUTHERN MARGIN OF CABELL AVENUE STARTING APPROXIMATELY 250 FEET WEST OF THE INTERSECTION OF CABELL AVENUE AND PRESTON AVENUE AND CONTINUING BACK IN DEPTH FROM CABELL AVENUE TO THE LINE OF THE PRESENT R-3 MULTIPLE -DWELLING DISTRICT. IT BEING THE INTENT AND PURPOSE OF THIS ORDINANCE THAT ALL OF THE TRACT OF LAND CONTAINING APPROXIMATELY 14 ACRES KNOWN AS THE HAYES PROPERTY AND DESIGNATED AS PARCEL #125 ON CITY TAP MAP #3 BE ZONED R-3 MULTIPLE -DWELLING. L CLERK ADOPTED BY THE COUNCIL SEPTEMBER 16, 1963 AYES: MR. HAGGERTY, MR. LEE, MR. MOUNT, MR. PONTON AND MR. SCRIBNER. NOES: NONE. ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS OF THE CITY OF CHARLOTTESVILLE IN THE SUM OF THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,5001000.00) FOR THE PURPOSE OF SCHOOL IMPROVEMENTS IN SAID CITY. WHEREAS, IT IS DEEMED NECESSARY AND EXPEDIENT THAT THE CITY OF CHARLOTTESVILLE SHOULD ISSUE AND NEGOTIATE ITS BONDS IN ORDER TO ACQUIRE THE SITES, CONSTRUCT AND FURNISH TWO ADDITIONAL SCHOOLS, AND FOR OTHER SCHOOL IMPROVEMENTS IN THE CITY; AND, WHEREAS, IT IS ESTIMATED THAT THE TOTAL SUM OF THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($35500,000.00) WILL BE NEEDED FOR THE SITE ACQUISITION, CONSTRUCTION, FURNISHING OF SUCH SCHOOLS, AND THE OTHER SCHOOL IMPROVEMENTS; AND, WHEREAS, THE AFORESAID SUM OF THREE MILLION FIVE HUNDRED THOUSAND DOLLARS (.$3,5001000.00), WHEN ADDED TO THE EXISTING DEBT OF THE CITY NOW OUTSTANDING WILL NOT EXCEED EIGHTEEN PER CENT (18%) OF THE ASSESSED VALUATION OF REAL ESTATE IN THE CITY OF CHARLOTTESVILLE SUBJECT TO TAXATION AS SHOWN ON THE LAST ASSESSMENT, THAT BEING THE CONSTITUTIONAL LIMIT OF THE AUTHORITY OF SAID CITY TO ISSUE BONDS; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE: (1) THAT THE CITY ISSUE AND NEGOTIATE ITS BONDS AGGREGATING THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,500,000.00) FOR THE PURPOSES AFORESAID DESIGNATED AS "SCHOOL IMPROVEMENT BONDS, SERIES OF 1963". (2) THAT SAID BONDS SHALL BE IN SUCH DENOMINATIONS, AND DATED ON SUCH DAY AND PAYABLE IN SUCH MATURITIES NOT EXCEEDING TWENTY (20) YEARS FROM THE DATE THEREOF AS THE COUNCIL SHALL, BY RESOLUTION OR RESOLUTIONS, FROM TIME TO TIME DETERMINE; (3) THAT SAID BONDS SHALL BEAR INTEREST AT A RATE OR RATES (NOT, HOWEVER, EXCEEDING FOUR (4) RATES) NOT EXCEEDING FIVE PERCENTUM (5%) PER ANNUM, PAYABLE SEMI-ANNUALLY AND EVIDENCED BY INTEREST COUPONS ATTACHED TO SAID BONDS; (4) THAT THE MAYOR SHALL SIGN SAID BONDS, THE FACSIMILE SEAL OF THE CITY, ATTESTED BY THE FACSIMILE SIGNATURE OF THE CLERK OF THE COUNCIL, SHALL BE AFFIXED THERETO AND SAID BONDS SHALL BE COUNTERSIGNED BY THE FACSIMILE SIGNATURE OF THE TREASURER, AND THAT THE COUPONS THEREON SHALL BE CERTIFIED BY THE FACSIMILE SIGNATURE OF THE TREASURER, SUCH FACSIMILE SEAL AND SIGNATURES BEING AUTHORIZED PURSUANT TO SECTION 15-666.42 VA. CODE ANN. (SUPPL. 1962); (5) THAT SAID BONDS AND THE INTEREST THEREON SHALL BE PAYABLE AT THE OFFICE OF THE TREASURER