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<br />April 14, 2009
<br />
<br />requirements. In order to assure compliance with such Code provisions, the City will enter into a Compliance Certificate, to comply with such
<br />requirements and covenants therein that it will not breach the terms thereof.
<br />The Council, on behalf of the City, hereby designates tie Bonds as "qualified tax-exempt obligaions" as defined in Section 265(b)(3)(B)
<br />of the Code and certifies by this Ordinance that is docs not reasonably anticipate the issuance by it or its subordinate entities of more than $30,000,000
<br />in "qualified tax-exempt obligations" during the calendar year 2009 and will not designate, or permit the designation by any of its subordinate entities
<br />of, any of its notes or bonds (or those of its subordinate entities) during the calendar year 2009 which would cause the $30,000,000 limitation of
<br />Section 265(b)(3)(D) of the Code to be violated.
<br />Section 15 Further Actions Authorized: Aooroval of Documents
<br />The Mayor and Clerk of the Council and the City Manager, City Treasurer, City Attorney, Bond Counsel, the City's financial advisor and
<br />all other officers, empl~ees and agents of the City are hereby authorized md directed to take any and all such further action and to execute and
<br />deliver such other documents, certificates, undertakings, agreements or other imtruments as shall be deemed necessary or desirable in order to
<br />effectuate delivery of. and payment for the Bonds and the refunding of the Refunded Bonds, all in accordance with the Ordinance, including but not
<br />limited to providing notices and irrevocable instructions regarding redemption of the Refwlded Bonds, the execution and delivery of forms 8038-G as
<br />determined necessary by bond cowlsel and Non-Arbitrage Certificate and Tax Covenants and the making of any elections such officers, employees
<br />and agents deem desirable regardilg any provision ofdle Code or regulations promulgated thereunder. The Financing Agreement shall be in
<br />substantially the form submitted to this meeting, which is hereby approved, with such completions, omissions, insertions, changes and revisions as
<br />may be approved by the officer executilg them in his sole and absolute discretion, his execution thereof to constitute conclusive evidence of hi>
<br />approval of any such completions, omissions, insertions, changes and revisions.
<br />Section 16 Invalidity of Sections
<br />If any section, paragraph, clause or provision ofdlis Ordinance shall be held invalid or unenforceable for any reason, the invalidity or
<br />unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining portions of this Ordinance.
<br />Section 17 Headines of Sections. Table of Contents
<br />The headings of the sections of this Ordinance and the Table of Contents appended hereto or to cq:>ies hereofshaU be solely for
<br />convenience of reference and shall not affect the meaning, construction, interpretation or effect of such sections of this Ordinance.
<br />Section 18 Effectiveness and Filine of Ordinance
<br />The Council hereby declares tha this Ordinance shall become etlcctive upon is pa<;sage a<; provided for in the Act and pursuant to Section
<br />3 of Chapter 3 of the City Charter. A certified copy of this Ordinance shall be filed by the Clerk with the Clerk of the Circuit Court of the City of
<br />Martinsville, Virginia. The filing of this Ordinance with the Clerk of the Circuit Court of tJle City of Martinsville, Virginia shall be deemed to be the
<br />filing of an initial resolution or ordinance with such Court for all purposes ofthe Act.
<br />The Members of the Council voted as follows:
<br />Aves
<br />Absent
<br />Adopted this 28th day of April, 2009.
<br />
<br />Navs
<br />Abstentions
<br />
<br />The undersigned Clerk of the City Council of the City of Martinsvillc, Virginia hereby certifies tha the foregoing con~itutes a true and
<br />correct extract trom the minutes of a meeting of the City Council held on April 28, 2009, and of the whole thereof so far as applicable to the matters
<br />referred to in such extract. I hereby further certify that such meeting wa, a regularly called meeting and that, during the consideration of the foregoing
<br />ordinance, a quorum was present.
<br />Dated this day of , 2009.
<br />
<br />Clerk, City Council of
<br />City of Martinsville, Virginia
<br />On a motion by Gene Teague, seconded by Kimble Reynolds, Council
<br />
<br />approved, with a 5-0 vote, the following consent agenda:
<br />
<br />ORG
<br />
<br />OBJECT
<br />
<br />FY09
<br />GENERAL FUND
<br />01100905
<br />01413148
<br />
<br />450209
<br />508205
<br />
<br />01101917
<br />01322105
<br />
<br />442601
<br />506114
<br />
<br />Total General Fund:
<br />Water Fund
<br />
<br />12100909
<br />12544314
<br />
<br />418104
<br />506008
<br />
<br />Total Sewer Fund:
<br />
<br />BUDGET ADDITIONS FOR 04/14/2009
<br />DESCRIPTION
<br />
<br />DEBIT
<br />
<br />CREDIT
<br />
<br />Sale of Salvage/Surplus
<br />Street Cleaning - Motor Vehicles/Equipment
<br />This is to appropriate the funds received from the sale of
<br />a tractor in order to purchase a new mower.
<br />Categorical Other - State - EMS 4 for Life
<br />Emergency Med Services - 4 for Life
<br />This is to appropriate the additional funds received
<br />from the State over the original budget of $9,500
<br />
<br />6,013
<br />
<br />6,013
<br />
<br />2,186
<br />
<br />2,186
<br />
<br />8,199
<br />
<br />8,199
<br />
<br />Recovered Costs
<br />Water Construction - Vehicle Equip & Maint
<br />This is to appropriate the funds received from our auto
<br />insurance to cover repairs to vehicle damaged in accident.
<br />
<br />5,309
<br />
<br />5,309
<br />
<br />5,309
<br />
<br />5,309
<br />
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