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<br />r: ( <br />".'. L <br /> <br />TUESDAY <br /> <br />MARCH 26, 1985 <br /> <br />1950, as amended, the bonds shall provide that <br />neither the City nor the Authority shall be <br />obligated to pay the Bonds or the interest <br />thereon or other costs incident thereto except <br />from the revenues and moneys pledged therefor, <br />and neither the faith or credit nor the taxing <br />power of the Commonwealth, the City nor the <br />Authority shall be pledged thereto. <br /> <br />3. This resolution shall take effect immediately <br />upon its adoption. <br /> <br />Council referred to City Manager Brown, for study and recommendation, a request <br /> <br />presented by Mr. Stuart Axelrod (operator of Sammy's-at-the-Plaza, 10 East Church <br /> <br />Street) that the City (by amending the terms and conditions for City utility ser- <br /> <br />vices) pay interest on required deposits made by the City's utility service <br /> <br />customers. <br /> <br />Council unanimously nominated the following members of Council for membership on <br /> <br />the following policy committees of the Virginia Municipal League: <br /> <br />NOMINEES <br /> <br />VML POLICY COMMITTEES <br /> <br />Councilman Groden <br />Councilman Oakes* <br />Vice-Mayor Severt** <br />Councilman Williams <br /> <br />Community & Economic Development <br />Effective Government <br />Education <br />Transportation <br /> <br />to continue as a member of the Legislative Committee. <br /> <br />"k"k <br /> <br />in lieu of present membership on Human Development Policy <br />Committee. <br /> <br />By report dated March 20, 1985, City Manager Brown apprised Council of the several <br /> <br />proposals recently received by the City, in response to the City's request, from <br /> <br />local banking institutions to assist in the financing (on a loan-grant basis) of <br /> <br />the City's housing rehabilitation program in the City's souths ide area, the best of <br /> <br />which--Mr. Brown adjudged--being that submitted by Patrick Henry National Bank and, <br /> <br />therefore, being recommended for acceptance by Council. In addition, Mr. Brown <br />