Minutes 09/25/1984 - Laserfiche WebLink

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134 TUESDAY SEPTEMBER 25, 1984 WHEREAS, the Authority recommends that the Council approve the issuance of the Bonds; and WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, subject to the terms to be agreed upon, and a certificate of the public hearing have been filed with the Council; now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MARTINSIVLLE, VIRGINIA, as follows: 1. The Council hereby approves the issuance of the Bonds by the Authority for the benefit of the Applicant, as stipulated by said Section 103(k), to permit the Authority to assist in the financing of the Facility; 2. The approval of the issuance of the Bonds, as stipulated by said Section 103(k), does not constitute an endorsement to a prospective purchaser of the Bonds of the credit-worthiness of the Applicant and, as required by Section 15.1-1380 of the Code of Virginia of 1950, the Bonds shall provide that neither the City nor the Authority shall be obligated to pay the Bonds or the interest thereon or other costs incident thereto except from the revenues and moneys pledged therefor and neither the faith or credit nor the taxing power of the Commonwealth, the City or the Authority shall be pledged thereto; and 3. This Resolution shall take effect immediately upon its adoption. After reviewing pages 1-1 through 5-24 of the proposed update of the City's Comprehen- sive Plan, as prepared and recommended for approval by the City's Planning Commission, and after urging--as emphasized by Councilman Williams--citizen review and study of this Plan, Council unanimously adopted that portion of the Plan encompassed in said pages 1-1 through 5-24 and, also, scheduled review of--and, perhaps, action on--pages 6-1 through 9-17 at Council's forthcoming October 9th meeting. Council unanimously approved (for execution by City Manager Edmonds on behalf of the City) a lease agreement between the City and The Boaz Foundation by which The Boaz Foundation will have use of the premises of the former Joseph Martin School for a two- year period beginning October 1, 1984, with renewal and/or purchase options provided under certain conditions, in which premises The Boaz Foundation will establish a museum of natural history.