Minutes 06/26/1990 - Laserfiche WebLink

Home Browse Search

396 TUESDAY. JUNE 26. 1990 the Internal Revenue Code, to permit the Authority to assist in the financing of the Project and the refunding of the Prior Bond; and The Approval of the issuance of the Bond, as required by Section 147(f) of the Internal Revenue Code, does= not constitute an ~endorsement to a prospective purchaser of the Bond of the credit worthiness of the Project or the Owner, and, as contemplated by Section 15.1-1380 of the Code of Virginia of 1950, as amended, the Bond shall provide that neither the City nor the Authority shall be obligated to pay the Bond 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 nor the Authority shall bepledged thereto; and This resolution shall.take effect immediately upon its adoption. Upon motion, duly seconded, and by unanimous vote, Council adopted, on second reading, Ordinance No. 90-9 amending Chapter 1, General Provisions, Section 1-11, Classification of and Penalties for Violations of the City Codeas follows: ~BE IT ORDAINED by the Council of the City of Martinsville, Virginia, in regular session assembled June 26, 1990, that Chapter 1, General Provisions,· Section 1- 11 (a), Classification of and Penalties for Violations, of the City Code be and is hereby amended, as follows: = Chapter 1 = GENERAL PROVISIONS Sec. 1-11. Classification of and penalties for violations; continuing'violations generally. (a) Whenever in this Code or any other ordinance of the city or any rule or regulation promulgated by any officer or agency of the city, under authority duly vested in such officer or agency, it~isprovided that a violation ~of any provision thereof shall constitute-a Class 1, 2, 3 or 4 misdemeanor ora traffic=infraction, such