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192 PUBLIC HEARINGS: GENERAL REVENUE SHARING TAX ASSESSMENT INCREASE CITY MANAGER'S PROPOSED BUDGET APPOINTMENTS ADJOURNMENT MINUTES PUBLIC PUBLIC HEARING: COMMUNITY DEVELOP- MENT BLOCK GRANT ville, Virginia (the Authority) has considered the application of Michael R. Simpson and C. Bernard Martin (the Purchasers) for the issuance of the Authority's Industrial Revenue Bond in the principal amount of $240,000 (the Bond) to assist in the financing of the Purchasers' acquisition, renovation and equipping of a commercial building (the Facility)~.in Charlottesville, Virginia, and has held a public hearing thereon on March 8, 1983; and WHEREAS, the Authority has requested the City Council (the Council) of Charlottesville, Virginia (the City) to approve the issuance of the Bond to comply with Section 103(k) of the Internal Revenue Code of 19S4, as amended; and WHEREAS, a copy of the Authority's resolution approving the issuance of the Bond, subject to the terms to be agreed upon a record of the public hearing has been filed with the Clerk of Council; BE IT RESOLVED by the City Council of the City of Charlottesville, Virginia: (1) The Council of the City of Charlottesville, Virginia, approves the issuance of the Bond by the Industrial Development Authority of the City of Charlottesville, Virginia for the benefit of Michael R. Simpson and C. Bernard Martin to the extent required by Section 103(k) of the Internal Revenue Code, to permit the Authority to assist in the financing of the Facility. (.2) The approval of the issuance of the Bond, as required by Section 103(k) does not constitute an endorsement of the Bond or the credit worthiness of the Purchasers, but, as required by Section 15.1- 1380 of the Code of Virginia of 1950, as amended, the Bond shall provide that neither the City nor the Authority shall be obligated to pay the bond or the interest thereon or other costs incident thereto except from the revenues and monies pledged therefor, and neither the faith or credit nor the taxing power of the Commonwealth, the City, or the Authority shall be pledge thereto. (3) This Resolution shall take effect immediately upon its adoption. Cole Hendrix, City Manager, explained that the City is required by Federal regulations to hold a public hearing on g~neral revenue sharing. He also explained that state regulations require the City to hold public hearings on proposed tax assessment increases and the City Manager's proposed budget. Mayor Buck opened the public hearings. There being no comments from the public, the hearing was closed. Mr. Fran Lawrence was unanimously appointed to the CDBG Task Force. iThe ~eeting was adjourned to the budget work session. Cler~ - COUNCIL CHAMBER blsement c~nference room Monday, March 21 1~83 for a Council met in regular session on this date with the following members present: Mr. Buck, Mr. Conover, Mrs. Gleason, Dr. Gunter, Dr. Hall. Absent: None. On motion by Dr. Hall, seconded by Dr. Gunter, the minutes of January 18th were approved as presented, Dr. Hall and Mrs. Gleason abstaining. On motion by Mr. Conover, seconded by Dr. Gunter, the minutes of February 7th were approved as presented. On motion by Mrs. Gleason, seconded by Dr. Hall, the minutes of March 7th were approved as presented. On motion by Mrs. Gleason, seconded by Dr. Gunter, the minutes of February t4th were approved as presented. Thomas McCrystal of Jefferson Park Avenue addressed Council expressing opposition to a nuclear freeze resolution adopted by Council at the last regular meeting. Debra Abbott of 418 4th ST., N.E. expressed her support for the proposed shelter for the homeless to be located in the armory.