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<br />
<br />ORDINANCE RE:
<br />AUTHORIZING
<br />ISSUANCE OF
<br />$3,000,000 IN
<br />GENERAL OBLI-
<br />GATION BONDS AND
<br />BOND ANTICIPATION
<br />NOTES
<br />
<br />RESOLUTION RE:
<br />APPROVING FORM
<br />OF mROPOSED
<br />OFFICIAL STATE-
<br />MENT
<br />
<br />ORDINANCE RE:
<br />AMENDING ORDINANCE
<br />PERTAINING TO CITY
<br />MOTOR VEHICLE
<br />LICENSE TAXES
<br />
<br /> A COPY OF SUCH DOCUMENT SHALL BE KEPT ON FILE WITH THE MINUTES OF
<br />THE COUNCIL MEETING AT WHICH THIS RESOLUTION WAS ADOPTED.
<br /> THE ORDINANCE ENTITLED "AN ORDINANCE AUTHORIZING THE ISSUANCE OF
<br />
<br />THREE MILLION DOLLARS (ss,ucc,ucc) PRINCIPAL AMOUNT OF GENERAL OBLIGATION
<br />GENERAL IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, FOR
<br />THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF PUBLIC SCHOOL IMPROVEMENTS
<br />OF AND FOR SUCH CITY, FIXING THE FORM, DENOMINATION AND CERTAIN OTHER
<br />FEATURES OF SUCH BONBS~ PROVIDING FOR THE SALE OF SUCH BONDS AND PRESCRIBING
<br />THE FORM OF A NOTICE OF SALE THEREFORE; ~ND AUTHORIZING AND PROVIDING WITH
<br />RESPECT TO THE ISSUANCE AND SALE OF A.LIKE PRINCIPAL AMOUNT OF GENERAL
<br />OBLIGAT,ION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND SALE
<br />
<br />OF SUCH BONDS" WHICH WAS OFFERED AT THE MEETING OF MARCH 1ST WAS ADOPTED BY
<br />THE FOLLOWING VOTE: AYES: MR. ALBRO, MR. BUCK, MR. CONOVER, MS. GLEASON,
<br />
<br />DR. HALL.
<br />
<br />ON MOTION BY MR. CONOVER, SECONDED BY MR. ALBRO, THE FOLLOWING
<br />
<br />RESOLUTION WAS UNANIMOUSLY ADOPTED BY COUNCIL:
<br />
<br /> WHEREAS, THERE HAS BEEN ADOPTED AT THE MEETING OF THIS COUNCIL HELD
<br />ON MARCH 15, 1982, (THE SAME BEING THE DATE OF ADOPTION OF THIS RESOLUTION)
<br />AN ORDINANCE TO AUTHORIZE THE ISSUANCE OF THREE MILLION DOLLARS ($3,000,000)
<br />PRINCIPAL AMOUNT OF GENERAL OBLIGATION GENERAL IMPROVEMENT BONDS (THE "BONDS")
<br />OF THE CITY OF CHARLOTTESVILLE, VIRGINIA (.THE "CITY"), FOR THE PURPOSE OF
<br />PROVIDING FUNDS TO PAY THE COSTS OF PUBLIC IMPROVEMENT PROJECTS OF AND FOR
<br />THE CITY DESCRIBED THEREIN, WHICH ORDINANCE IS ENTITLED "AN ORDINANCE AUTHORI-
<br />ZING THE ISSUANCE OF THREE MILLION DOLLARS ($3,ooo,ooo) PRINCIPAL AMOUNT OF
<br />GENERAL OBLIGATION GENERAL IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE,
<br />VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE COST OF PUBLIC SCHOOL
<br />IMPROVEMENTS OF AND FOR SUCH CITY; FIXING THE FORM, DENOMINATION AND CERTAIN
<br />OTHER FEATURES OF SUCH BONDS~ PROVIDING FOR THE SALE THEREFORE: AND AUTHO-
<br />RIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE O'F A LIKE PRINCIPAL
<br />AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION ~OTES IN ANTICIPATION OF THE
<br />ISSUANCE AND SALE OF SUCH BONDS";
<br />
<br /> WHEREAS, SUCH ORDINANCE PROVIDES FOR THE SALE OF THE BONDS AND AUTHO-
<br />RIZES THE ISSUANCE OF GENERAL OBLIGATION BOND ANTICIPATION NOTES (THE
<br />"NOTES") IN ANTICIPATION OF THE ISSUANCE OF THE BONDS AUTHORIZED FOR
<br />ISSUANCE THEREIN,
<br />
<br /> WHEREAS, THE CITY HAS DETERMINED TO ISSUE THE NOTES IN ANTICIPATION
<br />OF THE ISSUANCE OF THE BONDS; AND
<br />
<br /> WHEREAS, THIS COUNCIL DEEMS IT NECESSARY AND EXPEDIENT AT THIS TIME
<br />TO PROVIDE FOR THE PREPARATION OF THE OFFICIAL STATEMENT OF THE CITY
<br />RELATING TO THE NOTES (THE "OFFICIAL STATEMENT"), A NOTICE OF SALE RELA-
<br />TING TO THE NOTES (THE "NOTICE OF SALE") AND A BID FORM FOR THE PURCHASE
<br />OF THE NOTES (.THE "BID FORM");
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTES-
<br />VILLE, VIRGINIA:
<br />
<br /> 1. THERE HAS BEEN PRESENTED AT THIS MEETING, AND THERE IS HEREBY
<br />ORDERED FILED IN THE RECORDS OF THIS COUNCIL, A COPY OF THE OFFICIAL STATE-
<br />MENT, THE NOTICE OF SALE AND THE BID FORM RELATING TO THE NOTES, THE FORM
<br />AND CONTENTS OF THE OFFICIAL STATEMENT, INCLUDING AS A PART THEREOF THE
<br />NOTICE OF SALE THEREIN REPRODUCED, AND THE BID FORM ARE APPROVED.
<br />
<br />2. THE PREPARATION OF THE OFFICIAL STATEMENT AND BID FORM BY THE CITY
<br />MANAGER, CITY TREASURER AND OTHER OFFICERS AND EMPLOYEES OF THE CITY,
<br />TOGETHER WITH THE FI. NANCIAL CONSULTANTS OF THE CITY, IS RATIFIED, APPROVED
<br />AND CONFIRMED.
<br />
<br /> THE MAYOR AND CITY TREASURER OF THE CITY ARE AUTHORIZED TO CAUSE
<br />COPIES OF THE OFFICIAL STATEMENT (INCLUDING THE NOTICE OF SALE THEREIN
<br />REPRODUCED) AND BID FORM TO BE DISTRIBUTED TO PROSPECTIVE INVESTORS IN AND
<br />UNDERWRITERS OF THE NOTES, IN CONNECTION WITH THE SALE OF THE NOTES, AND
<br />THE MAYOR OF THE CITY IS AUTHORIZED TO EXECUTE FOR AND ON BEHALF OF THIS
<br />COUNCIL AND CAUSE TO BE DELIVERED COPIES OF THE OFFICIAL STATEMENT TO THE
<br />SUCCESSFUL BIDDER FOR THE NOTES AND OTHBRWISE AS HE DEEMS NECESSARY OR
<br />DESIRABLE.
<br />
<br />4. THIS RESOLUTION SHALL TAKE EFFECT UPON ITS PASSAGE.
<br />
<br />ROGER WILEY, CITY ATTORNEY, EXPLAINED THAT THIS ORDINANCE WOULD ALLOW
<br />
<br />THE CITY TREASURER'S OFFICE TO DENY PURCHASE OF CITY AUTO LICENSES UNLESS
<br />
<br />PERSONAL PROPERTY TAXES HAVE BEEN PAID ON ALL VEHICLES OWNED.
<br />
<br />ON MOTION BY MR. ALBRO, SECONDED BY MR. CONOVER, AN ORDINANCE ENTITLED
<br />
<br />"AN ORDINANCE TO AMEND AND REENACT SECTION 10--56 OF THE CODE OF THE CITY OF
<br />
<br />
<br />
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