ORD. 1986-260-237 · Ordinance

To amend and reordain Ordinance No. 79-55-67, adopted May 26, 1979, which authorized the issuance of $25,065,000 serial public improvement bonds of the City of Richmond to finance the cost of capital improvement projects, and' authorized the issuance of notes of the City of Richmond in anticipation of the issuance of the bonds to defray the cost of the capital improvement projects, as amended by Ordinance No. 80-215-170, adopted October 13, 1980, reducing the amount of bonds authorized to be issued by $875,000 from $25,065,000 to $24,190,000, and authorizing the issuance of $21,785,200 of such bonds to bear date on January 15, 1981, and $2,404,800 of such bonds to bear date on January 15, 1982, and conforming the provisions of said capital bond authorization ordinance to amendments made to the 1979-1980 Capital Budget (changes made in Capital Improvement Program for the fiscal year beginning July 1, 1979, and ending June 30, 1980) and by Ordinance No. 81-212-190, adopted November 23, 1981, which authorized $21,785,200 of such bonds to bear date on January 15, 1982, and $2,404,800 of such bonds to bear date on January 15, 1983, and as amended by Ordinance No. 82-253-240, adopted October 25, 1982, which authorized $1,031,800 of such bonds to bear date on January 15, 1983, and $1,373,000 of such bonds to bear date on January 15, 1984; to provide that §1,373,000 of such bonds bear date on, July 15, 1986, in lieu of January 15, 1984., and be payable in annual installments of $68,650 on July 15 of each of the years 1987 through 2006 inclusive, and that $1,373,000 of such bonds be issued pursuant to the provisions of the Public Finance Act of the Commonweal.th of Virginia, Chapter 5, Sections 15.1-170 through 15.1-227, inclusive of Title 15.1, Counties, Cities and Towns, of the Code of Virginia.