Agenda 05/11/1999 - Laserfiche WebLink

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TUESDAY, MARCH 23, 1999 The issuance of the Notes in term form, each with a maturity date of January 15, 2001 at a per annum interest rate as set forth in Exhibit A attached hereto is approved. All other provisions of the Notes shall be as set forth in the Authorizing Ordinance. 42 Section 3 - the Note Affirmation of Authorizing OrdinanceSection 3 -Authorization, Form and Details of The Authorizing Ordinance is hereby ratified and confirmed and remains in full force and effect, except as such Authorizing Ordinance is amended and supplemented hereby. All acts of the officers, employees, agents and representatives of the City in conformity with the purposes and intent of the Authorizing Ordinance and in furtherance of the issuance and sale of the Notes are hereby approved and ratified. Section 4 ~ Effectiveness and Filing_ of Supplemental OrdinanceSection 19 - and Filing of Ordinance Effectiveness The Council hereby declares in the public interest that an emergency exists and that this Supplemental Ordinance shall become effective immediately upon its passage as provided for in the Act and as an emergency measure pursuant to Section 3 of Chapter 3 of the City Charter. A certified copy of this Supplemental Ordinance shall be filed by the Clerk with the Clerk of the Circuit Court of the City of Martinsville, Virginia. The filing of this Supplemental Ordinance with the Clerk of the Circuit Court of the City of Martinsville, Virginia shall be deemed to be the filing of an initial resolution or ordinance with such Court for all purposes of the Act. The Members of the Council voted as follows: Ayes Dr. Mark A. Crabtree M. Gene Teague Terry L. Roop Elizabeth H. Haskell Bruce H.T. Dallas Nays None Absent Abstentions Nolle None Adopted this 23rd day of March, 1999. VI. EXHIBIT A $7,500,000 City of Martinsville, Virginia General Obligation Notes