ORD. 1987-179-171 · Ordinance

To amend and reordain Ordinance No. 84-93-141, adopted June 29, 1984, which authorized the issuance of $34,657,000 serial public improvement bonds of the City of Richmond to finance the cost of capital 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. 85-165-157, adopted July 8, 1985, conforming said ordinance to changes made in Ordinance No. 84-92-140, adopted June 29, 1984, as amended, which constituted the proposed capital improvement program for the fiscal year that began July 1, 1984, and ended June 30, 1985; to provide that $21,500,000 of said bonds bear date on January 15, 1985, and be payable in installments of $1,435,000 each on January 15 of each of the years 1986 through 1999, inclusive, and $1,400,000 on January 15, 2000, and that $13,157,000 of said bonds bear date on January 15, 1986, and be payable in installments of $880,000 each on January 15 in the years 1987 through 2000, inclusive, and $837,000 on January 15, 2001, and by Ordinance No. 86-261-238, adopted October 27, 1986, which provided that such bonds in the amount of $13,157,000 bear date July 15, 1986, and be payable in installments of $660,000 on July 15 of each of the years 1987 through 2005, inclusive, and one installment of $617,000 be payable July 15, 2006, and that $13,157,000 of such bonds be issued pursuant to the provisions of the Public Finance Act of the Commonwealth 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; to provide that of $13,157,000 of such bonds issued pursuant to the provisions of Public Finance Act of the Commonwealth 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; to provide that of the $13,157,000 of such bonds to the issued pursuant to the Public Finance Act $7,586,900 of such bonds ($2,539,900 for schools; $302,500 for Traffic Control $1,007,700 for Streets; $1,300,000 for Bridges; $430,000 for Sewers; $92,800 for Refuse; $1,879,000 for Buildings and $35,000 for Recreation and Parks) bear date on July 15, 1987 and be payable in installments of $380,000 in each of the years 1988 through 2006, inclusive, and $366,900 in the year 2007, and that $5,570,100 of such bonds bear date of July 15, 1988, and be payable in installments in each of the years 1989 through 2008 ($280,000 in each of the years 1989 through 2007, and $250,100 in the year 2008).