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HomeMy WebLinkAboutMAY 6, 2003 MINUTESCITY COUNCIL MA YOR MEYERA E OBERNDORF, At-Large VICE MA YOR LOUIS R JONES Baystde -Dtstrtct 4 HARRY E DIEZ, EL, Kempswlle -Dtstrtct £ MARGARET L FURE, Centervtlle -Dtstrtct 1 REBA S McCLANAN, Ro~e Hall - Dtqrtct 3 RICHARD A MADDOX, Beach - Dt~trtct 6 IIM REEVE, Prtncesa Anne - Dtqrtct 7 PETER W SCHMIDT, At-Large RON A bTLLANUEVA, At-Large ROSEMARY WILSON, At-Large JAMES L WOOD, Lynnhaven -Dtstrtct 5 IAMES K SPORE, C~ty Manager LESLIE L LILLEE Ctty Attorney RUTH HODGES SMITH, MMC, Ctty Clerk CITY OF VIRGINIA BEACH "COMMUNITY FOR A LIFETIME" CITY COUNCIL AGENDA 6 May 2003 CITY HALL BUILDING I 2401 COURTHOUSE DRIVE VIRGINIA BEACH, VIRGINIA 23456-8005 PHONE (757) 427-4303 FAX (757) 426-5669 E MAIL Ctycncl~vbgov corn I CITY MANAGER'S WORKSHOP - Conference Room - 1:00 PM to RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003-2004 City's Proposed Operating Budget - "Community For a L~fetlme" Catheryn Whltesell, D~rector Management Services 1. RECONCILIATION H. REVIEW OF AGENDA ITEMS III. COUNCIL LIAISON REPORTS IV CITY COUNCIL COMMENTS V. INFORMAL SESSION - Conference Room- 4:00 PM to Bo CALL TO ORDER- Mayor Meyera E. Obemdorf ROLL CALL OF CITY COUNCIL C. RECESS TO CLOSED SESSION D CERTIFICATION OF CLOSED SESSION VI. CITY COUNCIL INFORMAL DISCUSSION VII. FORMAL SESSION - Council Chamber - 6:00 PM A. CALL TO ORDER - Mayor Meyera E. Obemdorf B. INVOCATION: Chaplmn D R. Staton Police Chaplain C. PLEDGE OF ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA D. ELECTRONIC ROLL CALL OF CITY COUNCIL E CERTIFICATION OF CLOSED SESSION F MINUTES 1. INFORMAL AND FORMAL SESSIONS Apn122,2003 G. AGENDA FOR FORMAL SESSION H. MAYOR'S PRESENTATION 1. RESOLUTION - Bollmann Family I. CONSENT AGENDA J. PUBLIC HEARING o AGRICULTURAL RESERVE PROGRAM (ARP) - 2794 West Gibbs Road - 6421 Crags Causeway - West Landing Road 2 LEASE OF CITY PROPERTY - 203 Laskin Road K. RESOLUTIONS/ORDINANCES . ResoluUon APPROVING the ~ssuance of Industrial Development Revenue Bonds, Series 2003 in an amount not to exceed $5,000,000 for London Bridge Holding LLC (Auburn Associates, LP), at 2601 Rehance Drive, Oceana West. . ResoluUons re General Obligation Public Improvement Bonds for various public Improvements, including schools, roadways, coastal, economic and tourism and building projects a. AUTHORIZING the Issuance and Sale of $50,000,000 of Series 2003A Bonds. bo Co AUTHORIZING the Issuance and Sale of $51,205,000 of Refunding Bonds, Series 2003B. . Resolution CREATING a Commission to study and make recommendations on Real Estate Tax Relief for Senior Citizens . Ordinance to AMEND Section 33-18 of the City Code re Vending Machines on pubhc property in the Resort Tourist D~stricts and EXEMPT those d~spensing pubhc transportation t~ckets. Ordinance to AUTHORIZE acqmsit~on of 6.7 acres from the City of Norfolk adjacent to Lake Lawson for $300,000 under the Open Space preservation program. Ordinance to AUTHORIZE exercise of an April 25,2001, Option Agreement with the Caton Family and Edward T. Caton re purchase of .344 acres at Rudee Loop for $1,000,000. 10. Ordinance to AUTHORIZE the lease of 1800 square feet of C~ty-owned office space at 203 Lask~n Road to USO of Hampton Roads. Ordinance to APPROPRIATE $100,000 from the General Fund for an interest-free loan to Sandbridge Volunteer Rescue Squad re ambulance replacement. Ordinances to AUTHORIZE the acquisition of Agricultural Reserve Preservation (ARP) easements and issuance of contract obllgat~ons (DISTRICT 7 - PRINCESS ANNE)' a. Sea Bay Development Corporation 62.59 Acres $310,326 Installment Purchase Agreement No. 2003-57 b Sharon J. Sattler 29.46 Acres $106,056 Installment Purchase Agreement No 2003-56 c. Craig C and Susan L. Creamer 22.18 Acres $45,321 Installment Purchase Agreement No. 2003-55 Ordinance to ACCEPT and APPROPRIATE a $9,180 grant from the Norfolk Foundation for the V~rglma Beach Pubhc L~brary re two onhne grant databases. 11. Ordinance to ACCEPT and APPROPRIATE a $50,000 grant from the National Fish and Wildlife Foundation and to TRANSFER $33,000 from the FY 2002-2003 Reserve for Contingency for a matching grant re Lynnhaven River Watershed Management Plan. 12. Ordinance to APPROPRIATE $8,000 from the Oyster Heritage Trust Fund to develop educational and informational materials re restoration of oysters in the Lynnhaven River watershed 13. Ordinance to AUTHORIZE acquisition of property in fee simple for replacement of the existing Timberlake-Foxwood pump station, PS#59. L. APPOINTMENTS EASTERN VIRGINIA MEDICAL SCHOOL (EVMS) FRANCIS LAND HOUSE BOARD OF GOVERNORS PARKS AND RECREATION COMMISSION PLANNING COUNCIL VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION (VBCDC) YOUTH SERVICES COORDINATING COUNCIL M. UNFINISHED BUSINESS N. NEW BUSINESS O. ADJOURNMENT 2003 Time · May 6 · May 13 6 00 pm Resource Manallement Schedule Reconciliation Workshop C~ty Council ADOPTION FY 2003-04 Resort Managemem Plan City Council, in trying to be more responsive to the needs of citizens who attend the meetings, has adopted the following time limits for future Formal Sessions Applicant or Applicant's Representative Attorney or Representative for Opposition Other Speakers - each Applicant's Rebuttal 10 Minute 10 Minutes 3 Minutes 3 Minutes THESE TIMES WILL BE STRICTLY ADHERED TO. If you are physically disabled or visually impaired and need assistance at this meeting, please call the CITY CLERK'S OFFICE at 427-4303 Hearing impaired, call: TDD only 427-4305 (TDD - Telephonic Device for the Deaf) Agenda 04/08/03 st v, wc~v vbgov corn MINUTES VIRGINIA BEACH CITY COUNCIL Virginia Beach, Virginia 6 May 2003 Mayor Meyera E Oberndorf called to order the CITY MANAGER'S WORKSHOP re RECONCILIATION of the RESOURCE MANAGEMENT PLAN for FISCAL YEAR 2003-2004 tn the Ctty Counctl Conference Room, Ctty Hall Butldtng, on Tuesday, May 6, 2003, at 1 22 P M Counctl Members Present Harry E Dtezel, Margaret L Eure, Vice Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Absent None -2- C I T Y MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003 - 2004 City's Proposed Operating Budget - "Community for a Lifetime" l:22P. M. ITEM # 51106 Mayor Oberndorf apologtzed for the delay and dtstrtbuted coptes of the Mayor's and Vtce Mayor's letter of May 6, 2003, re FY 2003-04 Resource Management Plan Reconcthatton Vice Mayor Jones advised this proposal considered these objectives Support the 3-year plan tdenufied tn Ftscal Year 2003, balances the objecttves tdenttfied by City Counctl at the August Retreat concerntng health care, compresston and pay, meets the employee health care commttment to cover 100% stngle subscrtber, provtdes a reserve to address tncreases in the health care on January 1, 2004, and, provtdes for a plan to address compresston Vtce Mayor Jones read the correspondence "We have met wtth the Ctty Manager and hts staff to dtscuss all of the Ctty Counctl's suggesttons for adjustments to the Ctty Manager's Proposed Resource Management Plan The tnterest from Ctty Councd for adjustments appears to be centered around The retnstatement of the bookmobtle to provtde servtces to targeted netghborhoods throughout the Ctty ($193,931) Fundtng to acqutre and operate the Adam Thoroughgood House In addttton to the acqutsttton and operatton, there ts also a need to make some tmmedtate repatrs to the house We, therefore, recommend that we place $218,440 tn a reserve account Staff wall be prepartng a capttal project for constderatton tn the FY 2004-05 CIP that wtll address any rematmng repatr concerns as well as posstble expanston of the property Addtttonal State funds to add back State Income Tax Services tn the Commissioner of the Revenue and the Ctty Treasurer's office per the Governor's veto of the legtslatton ehmtnattng thts servtce ($290,590 and 8 1 FTE's) Fundtng to provtde for conttnued transportatton servtces tn the Mental Health Department from the Mental Health Fund Balance Thts wtll advance the fundtng to matntatn thts servtce wtth the understandtng that thts fundtng may be pard back dependtng upon contract negottattons wtth a transportatton broker ($140,000) In addttton $128,470 ts allocated to conttnue to provtde In-Home Based Mentortng for mentally tll children May 6, 2003 -3- C I T Y MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003- 2004 City's Proposed Operating Budget- "Community for a Lifetime" ITEM # 51106 (Continued) Approprtate $1,975,960 tn addtttonal state revenue related to the 2 25% statepay ratse to the School's OperattngBudget Thtsfundtng, when combtned wtth the $2 87-MILLION ad&ttonal fundtng tncluded tn the proposed budget for Schools and the School Board's dectston not to support the cafeterta plan, whtch had been tncluded tn the Proposed Budget at $5 &MILLION, would provtde the School system wtth $10 65-MILLION to allocate to School Board prtortttes In addttton, whtle not dtscussed durtng the budget workshops, Counctl has been supporttve of addtng cameras to five tntersecttons to control red hght runntng Thts program wtll generate suffictent revenue to cover costs ($584, 504) and one addtttonal FTE to provtde financtal momtortng servtces We would also propose provtdtng $154,030 to begtn tntttal envtronmental tmprovements around the Lynnhaven Boat Ramp and the Crab Creek area of the Lynnhaven Rtver as well as provt&ngfirst year fundtng of $250, 000 to construct restroom facdtttes and expand the parking lot at Pendleton There has been a lot of dtscusston over the proposed compensatton plan We would propose the followtng plan Mertt increase of 3% Structural adjustment of l 5% Health care coverage to 100% of stngle subscrtber July 1 Potenttal health care adjustment on danua~. 1, 2004 based on the new Health care contract costs Pay compresston adjustment Postpone the use of the Ctty's contrtbutton for a Cafeterta Health Plan Pro-rate mertt Bonus program $ 5 1-MILLION $ 0 2-MILLION $1 O-MILLION $ 2 3-MILLION $1 6-MILLION NO COST $ 0 1-MILLION NO COST Thts plan would cost $10.3-MILLION We feel that thts plan ts tn hne wtth regtonal ctttes compensatton strategtes as well as many prtvate employers and tt balances taxpayer concerns PV also feel that thts plan ts balanced and conststent with the Ctty Counctl's dtrectton from our August goal setttng workshop to address compresston, health care and compensatton The hst below tdenttfies the fundtng requtred to address the seven ttems on our reconcthatton hst totahng $3,935,925 May 6, 2003 -4- CITY MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003- 2004 City's Proposed Operating Budget - "Community for a Lifetime" ITEM # 51106 (Continued) Addtttonal State Revenue for addtng back State Income Tax Ad&ttonal State Revenue (addtttona1599 funds and retmbursement for the 2 25% state salary adJustment for teachers and local state employees) Reductton tn Hampton Roads Transtt Costs Revenue from the Red Ltght Runntng Program Mental Health Fund Balance $ 290,590 $ 2, 676, 443 $ 244,388 $ 584,504 $.. 140,000 TOTAL RESOURCES $ 3,935,925 Thts hst represents our thoughts to help define our chscusston at the Reconcthatton Workshop on May 6 at 1 O0 P M Please call tf your have any questtons &ncerely s/Meyera E Oberndorf Mayor s/Louts R Jones Vtce Mayor" Re the Thoroughgood House, the Ctty of Norfolk, ts wtlhng to accept, starttng next year, $50,000 a year unttl $250,000 ts pard to the Chrysler Museum as remuneratton for the Ctty of Vtrgtnta Beach taktng tttle to the Thoroughgood House The Ctty Manager advtsed at the present ttme thts ts not tn wrtttng and thts would actually be a contrtbutton to the Chrysler Museum An tnventory of the furntshtngs of the Thoroughgood House will be provided Information shall be provided relattve regtonal contrtbuttons, parttcularly the Ctty of Norfolk Concern was expressed (from receipt of e-marls) that the Thoroughgood House should be handled as a "htstortc" house under a Foundatton and not under the ausptces of the Department of Museums Counctlman Dtezel expressed concern relattve compensatton He would not support a current change tn the work schedule of Ctty employees The emphasts was to work wtthtn the Ctty Manager's recommendatton of $10. 3-MILLION for compensation issues Mertt Pay at 3°/3 General Increase on Mertt Date of 2% Structural AdJustment at 2 0% Increase for Family Tters tn .lan 2004 Conttnue Stngle Subscrtber payment ~ $16 25 per month Pay Compresston Cafeterta Benefits Prorated Mertt Costs Bonus Program Stay at 37 5 hour workweek Total Cost of Proposal $ 510 $ 3 40 $ 030 $ 1 40 (1 oo) OlO - 1 O0 10 30 May 6, 2003 -5- C I T Y MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003 - 2004 City's Proposed Operating Budget - "Community for a Lifetime" ITEM # 51106 (Continued) Fagan Stackhouse, Director - Human Resources, addressed the compression issue Councdman Schmtdt referenced hts correspondence to the Ctty Manager relauve dupltcattve health coverage (t e employee covered under spouse 's coverage and recetvmg secondary coverage under the Ctty's plan) He beheves theparttctpants should tn&cate whether they have coverage elsewhere tn order to quahfy for thts health care coverage Vice Mayor Jones concurred Susan Walston, Chtef of Staff, advtsed conferrtng wtth the Ctty Attorney, tt ts a legally defenstble questton to tnqutre whether the employee has duphcate coverage However, Mrs Walston beheves thts encompasses a smallpercentage of employees Durtng open enrollment, a statement can be reqmred of employees tfthey are covered under another insurance plan Councdman Maddox tnqutred whether there ts a cleartng house for Insurance Compames, whtch would determine whether an m&vtdual had duphcate health coverage Mrs Walston advtsed HIPPA (Health Insurance Privacy and Portability AcO has compounded &fficulty tn obtatntng thts tnformatton as enttttes cannot share any type of personal tdenttfiable health care tnformatton Councd Lady Eure referenced the Ctty Councd had been advtsed approxtmately two (2) years ago re the cost of the Ctty's tnsurance premtums betng so htgh, as the Ctty employees had more expenstve me&cal tests than normally conducted Council Lady Eure would hke to stay the course recommended and revtstt within six (6) months relative merit if there are addtttonal funds at that ttme Mrs Walston advtsed worktng jotntly on a car&ovascular &sease pdot program to revtew methods to tnvolve employees who are "at-rtsk" An educatton program with phystctans, pattents and the Hampton Roads Health Coahtton combtned wtth grant fun&ngfrom a Pharmaceutical Company ts betng conducted re a ptlot to encourage tn&vtduals betng more acttve tn thetr &sease management The rates for Plan Year 2004 wall not be negottated unttl thts Summer At thts point, the plan ts to stay wtth the single provtder Relattve categortes of tnsurance coverage 4 7% Employee only 15% Employee and child 02% Employee and children 14% Employee and spouse 21% Family Councdman Wood referenced the concern of tndependent eye phystctans Mrs Walston advtsed Sentara subcontracts the vtston portton of thetr plan wtth Cole, who are strtvtng to secure a blend of 50% of the btg box (J C Penny's, Pearl Vtston) and 50°/6 of the tndependent phystctans May 6, 2003 -6- C I T Y MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003 - 2004 City's Proposed Operating Budget - "Community for a Lifetime" ITEM # 51106 (Continued) The Ctty Manager advtsed relattve the 40-hour week each Dtrector wouM have the abthty to structure the hours to ensure the office ts open and the employees' needs are met at the same ttme Counctlman Wood advtsed he would hke to see some compresston adjustment and a mertt tncrease tn excess of 3% Vtce Mayor Jones advtsed relattve the regional merff increases: Chesapeake 3 % Franklin 3 % Hampton 3 % lsle of Wight 3 % James City County 3.5% Newport News 4 % Norfolk 2.5% Portsmouth 2 % Suffolk 4. 5 % Counctlman Reeve advtsed Vtrgtnta Beach will still have the htghestpatd employees He ts concerned about the $3 2-MILLION potenttal health care adjustment Counctl Lady Wtlson tnqutred relattve deferrmg the full funding for tnsurance unttl January and mcrease the mertt July Ftrst Mr Stackhouse advtsed between 600 and 700 City employees do notparticipate in the health careprogram. The average salary is $39,000 Counctl Lady Wtlson referenced six (6) Firefighters being promoted to Captain for the Ladder Companies Ms Whttesell advtsed the Ftre Department dtd not request thts promotton tn thetr Budget Thts suggestton has come forward during the Pubhc Heartngprocess The Ftre Department ts conducttng a staff review and have not come forward officially with a recommendatton Ms Whttesell recommends wattmg until Management Services and Human Resources have had the opportunity to review all suggesttons of the Fire Department This mtght be considered tn the FY 2005 Operating Budget The cost would be approxtmately $48,000. Counctlman Maddox ts supporttve of the Pendleton Project betng dtvtded tnto two years The bathrooms take prtortty over expanston of the lot The Ctty Manager advtsed thts ts the Ctty's tntent The bathrooms would be designed, btd and put into operatton as soon as posstble Counctlman Schmtdt would support the suggesttons of the Mayor and Vtce Mayor, however, he ts concerned wtth the tssue of compresston May 6, 2003 -7- C I T Y MA N A G E R 'S BRIEFING RECONCILIATION RESOURCE MANAGEMENT PLAN FISCAL YEAR 2003 - 2004 City's Proposed Operating Budget- "Community for a Lifetime" ITEM # 51106 (Continued) Counctlman Wood prefers the mertt tncrease not go below 4%, some areas could be trtmmed shghtly Counctlman Maddox also preferred the mertt tncrease be 4%, but would support the suggesttons of the Mayor and Vtce Mayor Counctlman Reeve concurred, but would support the suggesttons After the budget cycle, Counctlman Reeve requested tnformatton be provtded relative the number of employees compressed and the fundmg necessary to solve thts tssue Counctl Lady Eure supported the plan, however any funds left tn the gap wtll be returned to the employees tn salary Counctlman Vtllanueva supported the plan Counctlman Dtezel dtd not agree with one major component tn the plan, he ts pro employee and ts not backtng away from thts dectston Counctl Lady Wtlson wtshed the mertt to be larger Counctl Lady McClanan expressed concern as she ts dtsappotnted the Ctty Counctl dtd not assume more tnterest tn reducmg the tax rate re the assessment Counctl Lady McClanan wished the Ctty Counctl adopt a pohcy of reductng some of the tax rate tn relatton to the assessment each year Counctl Lady McClanan concurred wtth Counctlman Dtezel relattve the compresston tssues Vtce Mayor,lones advtsed, as reflected through the "straw vote ", there are seven (7) Ctty Counctl members tn support of the proposed adjustments to the FY2003-04 Resource Management Plan The Ctty Attorney ts dtrected to prepare the necessary ordtnances Counctl Lady Eure requested tnformatton be prepared relattve the real estate assessment be conducted every two years instead of annually A cost analysts shall be provtded Mayor Oberndorf expressed apprectatton and concurred tf the health care tn January ts not as expenstve as esttmated, and those funds wtll be gtven to the employees as a mertt tncrease BREAK 3:45 - 4:00 P.M. May 6, 2003 -8- AGENDA RE VIEW SESSION 4:00 P.M. ITEM # 51107 H 1 RESOLUTION- Bollmann Family Mayor Oberndorf advtsed thts Resolutton ts the Ctty's second trtbute to the Bollmann Famtly Vtce Mayor Jones, represented the Mayor and attended a function tn honor of the Famtly where he presented a Proclamatton to acknowledge thetr achievements ITEM # 51108 K1 Resolutton APPROVING the tssuance of Industrtal Development Revenue Bonds, Sertes 2003 tn an amount not to exceed $5,000,000 for London Bridge Holding LLC at 2601 Rehance Drtve, Oceana West Vtce Mayor Jones referenced the Agenda Request Form ts tncorrect The Form should correctly read issuance of Revenue Bonds, not Refunding Revenue Bonds The Form should state London Bridge Holding LLC, not Auburn Associates. The Resolution is correct. ITEM # 51109 K3 Resolutton CREATING a ~o,,,,,,,~,o,, Task Force to study and make recommendations on Real Estate Tax Relief for Senior Citizens Counctl Members McClanan and Wtlson have requested "Commtsston" be changed to "Task Force" Counctlman Reeve advtsed a REVISED Resolutton ts being dtstrtbuted deptcttng thts change ITEM # 51110 The Ctty Clerk referenced a Resolutton relattve the Shore Drive Advisory Committee, whtch had been pulled from the Agenda on Frtday, but the BEACON dtd not remove thts ttem tn thetrpubhcatton The BEACON was nottfied tmmedtately and Kevtn Armstrong assured the Ctty Clerk tt would be removed Counctlman Wood advtsed thts ttem concerned reaffirmtng the Charter of the Shore Drtve Advtsory Commtttee The Commtttee preferred to meet agatn wtth Ctty Counctl Ltatsons, Vtce Mayor Jones and Counctlman Wood, to dtscuss this mtsston prtor to tts betng placed on Ctty Counctl's agenda ITEM # 51111 K6 Or&nance to AUTHORIZE exerctse of an Aprt125, 2001, Optton Agreement wtth the Caton Family and Edward T. Caton re purchase of 344 acres at Rudee Loop for $1,000,000 The Ctty Manager advtsed Counctl Lady Wilson the funds wtll be dertved from the Tourism Growth and Investment Fund (TGIF). May 6, 2003 -9- AGENDA RE VIE W SESSION ITEM # 51112 K9 Ordtnances to AUTHORIZE the acqutsttton of Agrtcultural Reserve Preservatton (ARP) easements and tssuance of contract obltgattons (DISTRICT 7 - PRINCESS ,4NNE) Sea Bay Development Corporation 62.59 Acres Installment Purchase Agreement No. 2003-57 $310,326 b. Sharon J. Sattler 29.46 Acres Installment Purchase Agreement No. 2003-56 $106,056 c. Craig C and Susan L. Creamer 22.18 Acres Installment Purchase Agreement No. 2003-55 $ 45,321 Councd Lady Eure wdl vote NAY on Item K 9 a Councd Lady McClanan wdl vote NAY on K 9a/b/c ITEM # 51113 K 13 Ordtnance to AUTHORIZE acqutsttton ofproperty tn fee stmple for replacement of the extsttng Timberlake- Foxwood pump statton, PS#59 Thts Ordmance has been revtsed and was tnserted tn Ctty Councd's agenda ITEM # 51114 BY CONSENSUS, the followtng shah compose the CONSENT AGENDA: K1 Resolutton APPROVING the tssuance of Industrtal Development Revenue Bonds, Sertes 2003 tn an amount not to exceed $5,000,000 for London Bridge Holding LLC at 2601 Rehance Drtve, Oceana West K2 Resoluttons re General Obligation Public Improvement Bonds for various pubhc tmprovements, tncludmg schools, roadways, coastal, economtc, tourtsm and buddtng projects a. AUTHORIZING the Issuance andSale of $50, 000, 000 of Sertes 2003,4 Bonds. b. AUTHORIZING the Issuance andSale of $51,205, 000 of Refunding Bonds, Sertes 2003B May 6, 2003 -10- AGENDA RE VIEW SESSION ITEM # 51114 (Continued) K3 K4 K5 K6 K7 K8 Resolution CREATING a ~,,,,,,,~o~o,, Task Force to study and make recommendattons on Real Estate Tax Relief for Senior Citizens Ordtnance to AMEND Sectton 33-18 of the Ctty Code re Vending Machines on pubhc property tn the Resort Tourtst Dtstrtcts and EXEMPT those dtspenstng pubhc transportatton ttckets Ordtnance to AUTHORIZE acqutsttton of 6 7 acres from the Ctty of Norfolk adjacent to Lake Lawson for $300,000 under the Open Space preservation program Ordtnance to AUTHORIZE exerctse of an Aprt125, 2001, Optton Agreement wtth the Caton Family and Edward T. Caton re purchase of 344 acres at Rudee Loop for $1,000,000 Ordtnance to AUTHORIZE the lease of1800 square feet of City-owned office space at 203 Laskm Road to USO of Hampton Roads. Ordtnance to APPROPRIA TE $100, O00 from the General Fund for an interest-free loan to Sandbridge Volunteer Rescue Squad re ambulance replacement K9 Ordtnances to AUTHORIZE the acqutsttton of Agrtcultural Reserve Preservation (ARP) easements and tssuance of contract obhgattons (DISTRICT 7 - PRINCESS ANNE) a. Sea Bay Development Corporation 62.59 Acres Installment Purchase Agreement No. 2003-5 7 $310,326 b. Sharon J. Sattler 29.46 Acres Installment Purchase Agreement No. 2003-56 $106,056 c. Craig C and Susan L. Creamer 22.18Acres Installment Purchase Agreement No. 2003-55 $ 45,321 May 6, 2003 -11- AGENDA RE VIE W SESSION ITEM # 51114 (Continued) K 10 Ordtnance to ACCEPT and APPROPRIATE a $9,180 grant from the Norfolk Foundation for the Vtrgtnta Beach Pubhc Ltbrary re two onhne grant databases K 11 Or&nance to ACCEPT and APPROPRIATE a $50,000 grant from the Nattonal Ftsh and Wtldhfe Foundatton and to TRANSFER $33, O00 from the FY 2002-2003 Reserve for Contingency for a matching grant re Lynnhaven River Watershed Management Plan K]2 Ordtnance to APPROPRIATE $8,000 from the Oyster Herttage Trust Fund to develop educattonal and tnformattonal matertals re restoration of oysters tn the Lynnhaven River watershed K13 Ordtnance to AUTHORIZE acqutsttton of property tn fee stmple for replacement of the extsttng Timberlake- Foxwood pump statton, PS#59 Item K 3 wtll be ADOPTED, as REVISED Counctl Lady Eure wtll vote NA Yon Item K. 9 a. Counctl Lady McClanan wtll vote NAY on K. 9a/b/c K 13 wtll be ADOPTED, as REVISED. May 6, 2003 - 12- COUNCIL LIAISON REPORTS 4:12 P.M. ITEM # 51115 Councdman Reeve referenced the Resolutton CREA TING a Coiiii)ii$$ioii Task Force to study and make recommendattons on Real Estate Tax Relief for Senior Citizens, whtch Councd Members Maddox, Reeve and Vtllanueva have brought forward Each Council Member ts requested to make one Nomination to the Task Force Counctlman Reeve requested the names of nominees for membershtp be furmshed to btm wtthm two (2) weeks ITEM # 51116 Counctlman Wood also requested the Commtttee for the Town Center Theatre be advanced Counctlman Wood wtshed the Ctty Staff to forward thetr suggested hst Key stakeholders are tn thts group and should be tncluded The pubhc does not beheve the Ctty Counctl ts dotng anythtng and many e-marls of concern have been recetved Mayor Oberndorf beheves a vtston should be estabhshed to make the communtty aware Council Lady Wilson advised when the School Report ts received sometime tn June, thts can be included wtthtn the vtston Councd Lady McClanan advtsed ctttzens were informed a plan would be developed before offictal construction of the Conventton Center The location of the theatre must be decided Some members of the Commtttee should have wealth and be able to ratse funds Vtce Mayor Jones concurred wtth Counctl Lady McClanan A destgn must be formulated wtth elevattons to show thts commtttee whtch would asstst tn thetr fund ratstng Counctlman Vtllanueva beheves communtty acttvtsts should be tncluded as well Councd Lady Eure advtsed the proposed hst of members included two or three members from a parttcular organtzatton Counctl Lad), Eure wtshed more chverstty She has revtewed the hst and htghhghted duphcate names Counctlman Wood advtsed a hst of potenttal appotntees to thts Commtttee has been made pubhc Counctlman Maddox concurred wtth Councdman Wood Now that the budget process has been completed, the selecttons of thts Commtttee should be a prtortty There ts a prtvate proposal whtch he has heard ts very exctttng The Ctty Manager advtsed the Ctty Attorney wtll be forwardtng correspondence descrtbtng thts prtvate proposal and the process, accordtng to State Code, where gutdehnes must be adopted before constderatton of a prtvate proposal A Brtefing wtll be scheduled for the Ctty Counctl Sesston of May 13, 2003 May 6, 2003 - 13- CITY COUNCIL COMMENTS ITEM # 51117 Mayor Oberndorf advtsed a constituent contacted her this weekend relative Verizon Thetr telephone was out of order for several days The response was Verizon does not repatr unttl four (4) days have elapsed The Ctty Attorney advtsed the Ctty does not tssue the franchtse, but he ss very surprtsed about the ttme of four (4) days The Ctty Attorney wtll tnvesttgate ITEM # 51118 Counctl Lady McClanan referenced atten&ng her son's 40tn birthday in San Francisco As a part of thts occaston, she went to her grandson 's T-Ball game The stgn tn San Franctsco Park was very stmple hangtng on a pole Thts was the only sign on thts ptece of property Approxtmately 1500 people were on this one ptece of land and everyone seemed to find thetr way wtthout a problem ITEM # 51119 Counctlman Vtllanueva referenced the proposed vtstt by President Bush and President Arroyo of the Phtlhptnes to the Ctty of Vtrgtma Beach Unfortunately, they cannot attend, but Prestdent Arroyo ss vtstttng Washtngton, D C, Monday, May 19, 2003 Counctlman Vtllanueva has been requested to determtne tf hts fellow Counctl Members wtsh tojotn btm tn the offictal armval at the Whtte House If anyone ts tnterested, please advtse and he wtll make arrangements Mayor Oberndorf regretfully dechned, as she had to be on the West Coast for Ctty bustness Thts was a wonderful opportumty ITEM # 51120 Mayor Oberndorf referenced the announcement on the frontpage of the Jewish Federation One faintly ss donattng $9-MILLION to commemorate the memory of their father and mother, Sam and Reba Sandler A gorgeous e&fice, a campus, ts betngplanned on Wttchduck Road on land that abuts Interstate 264 The Town Center made them reahze thts was probably the rtght locatton They wtll be brtngtng stones from quarrtes tn Israel ITEM # 51121 Counctlman Schmtdt referenced the West Neck Properties, Inc (Eagles Nest) apphcattons for a Vartance, Conditional Change of Zomng and Condtttonal Use Permit (APPROVED March 25, 2003) and reference to the developable acre. Counctlman Schmtdt beheves st tmportant for the Ctty Counctl to arrtve at a consensus re the definttton of a "developable acre" A voluntary planntng sesston ss planned prtor to an Informal Sesston However, tt ss sttll tmportant that Ctty Counctl come to consensus on the issue of "developable acre "prior to another apphcatton A Workshop can be scheduled for the thtrd Tuesday Mayor Oberndorfadvtsed other tssues were ratsed durtng the dtscusston of West Neck Properties, Inc Thts wtll enable attendance by Robert Scott, Dtrector of Planntng, Jack Whttney- Dtrector of Agrtculture and Donald H Horsley, Chatrman- Agrtculture Advtsory Commtsston wtth an explanatton also relattve wetlands ITEM # 51122 The Ctty Clerk advtsed the Ctty Counctl Ltatson Reports and Counctl Comments were not televtsed as the transmtsston was cut off when Ctty Counctl voted to go tnto Closed Sesston May 6, 2003 - 14- ITEM # 51123 Mayor Meyera E Oberndorf called to order the INFORMAL SESSION of the VIRGINIA BE,ICH CITY COUNCIL tn the Ctty Councd Conference Room, Ctty Hall Budding, on Tuesday, May 6, 2003, at 4 33 PM Councd Members Present Harry E Dtezel, Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, RtchardA Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vdlanueva, Rosemary Wdson and James L Wood Counctl Members Absent' None May 6, 2003 - 15- ITEM # 51124 Mayor Meyera E Oberndorf entertained a motton to permit Ctty Council to conduct tts CLOSED SESSION, pursuant to Sectton 2 1-344(A), Code of Virginia, as amended, for the followtng purpose PERSONNEL MATTERS Discussion, constderatton or interviews of prospecttve candtdates for employment, asstgnment, appotntment, promotton, performance, demotion, salartes, dtsctphntng, or restgnaaon of spectfic pubhc officers, appotntees, or employees pursuant to Sectton 2 2-3 711 (A) (1) To Wtt Appotntments Boards and Commtsstons Eastern Vtrgtnta Mechcal School Francts Land House Board of Governors Hampton Roads Economtc Development Alhance Parks and Recreatton Commtsston Planmng Councd Vtrgtnta Beach Communtty Development Corporatton Youth Servtces Coordinating Councd PUBLICL Y-HELD PROPERTY Dtscusston or constderatton of the acqutsttton of real property for a pubhc purpose, or of the dtsposttton of pubhcly-heM real property, where dtscusston tn an open meettng wouM adversely affect the bargatntng posttton or negottattng strategy of the pubhc body pursuant to Sectton 2 2-3711(A)(3) Acquisttton/Dtsposttton of Property - Centervdle Dtstrtct - Lynnhaven Dtstrtct - Beach Dtstrtct Norfolk-Southern Rtght-of- Way Upon motton by Councdman Schmtdt, seconded by Councd Lady Wilson, City Council voted to proceed into CLOSED SESSION. Voting 1 I-0 Counctl Members Vottng Aye Harry E Dtezel, Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt,, Ron A Vdlanueva, Rosemary Wdson and James L Wood Councd Members Vottng Nay None Councd Members Absent None (4:33 P.M. - 5:40 P.M.) May 6, 2003 -16- FORMAL SESSION VIRGINIA BEA CH CITY CO UNCIL May 6, 2003 6:00 P.M. Mayor Meyera E Oberndorf called to order the FORMAL SESSION of the VIRGINIA BEACH CITY COUNCIL tn the Councd Chamber, Ctty Hall Budding, on Tuesday, May 6, 2003, at 6 O0 P M Council Members Present Harry E Dtezel, Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, dtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Councd Members Absent None INVOCATION Chaplatn D R Staton Pohce Chaplatn PLEDGE OF ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA May 6, 2003 Item V-E. -17- CER TIFICA TION OF CLOSED SESSION ITEM # 51125 Upon motton by Counctlman Schmtdt, seconded by Vtce Mayor Jones, Ctty Counctl CERTIFIED THE CLOSED SESSION TO BE IN ACCORDANCE WITH THE MOTION TO RECESS. Only pubhc busmess matters lawfully exempted from Open Meeting requtrements by Vtrgmta law were dtscussed tn Closed Sesston to whtch thts certtficatton resolutton apphes, AND, Only such pubhc bustness matters as were tdenttfied tn the motton convemng the Closed Session were heard, discussed or considered by Virginia Beach City Council Vottng 11-0 Counctl Members Vottng Aye Harry E Dtezel, Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 0.~ OUR #J~)'0¥ RESOLUTION CERTIFICATION OF CLOSED SESSION VIRGINIA BEACH CITY COUNCIL WHEREAS: The Vlrglma Beach City Council convened Into CLOSED SESSION, pursuant to the affirmative vote recorded in I ITEM # 51124, page 15, and in accordance with the provisions of The Virginia Freedom of Information Act, and, WHEREAS Sectton 2 2-3 711(A) of the Code of Vlrglma requires a certification by the governing body that such Closed Session was conducted in conformity with Virginia law NOW, THEREFORE, BE IT RESOLVED That the Virginia Beach City Council hereby certifies that, to the best of each member's knowledge, (a) only public business matters lawfully exempted from Open Meeting requirements by Virginia law were discussed in Closed Session to which this certification resolution applies, and, (b) only such public business matters as were identified in the motion convening this Closed Session were heard, discussed or considered by Virginia Beach City Councd -d~uth fiodge~-'~mlth"~ MMC City Clerk May 6, 2003 - I8- Item V-F. 1. MINUTES ITEM # 51126 Upon motton by Counctl Lady Eure, seconded by Counctlman Wood, Ctty Counctl APPROVED the Mmutes of the INFORMAL AND FORMAL SESSIONS of April 22, 2003. Vottng 10-0 Counctl Members Vottng Aye Harry E Dtezel, Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Abstatntng Peter W Schmtdt Counctl Members Absent None Counctlman Schmtdt ABSTAINED as he was not tn attendance, due to hts father's death, durtng the Ctty Counctl Sesston of Aprt122, 2003 May 6, 2003 - 19- Item V-G. ,4DOPT ,4 GEND,4 FOR FORM,4L SESSION ITEM # 5112 7 B Y CONSENSUS, Cay Counctl ADOPTED: AGENDA FOR THE FORMAL SESSION May 6, 2003 Item V-H. 1. - 20- MA YOR 's PRESENT/I TION ITEM # 51128 Mayor Oberndorf PRESENTED a RESOLUTION IN RECOGNITION to B OLLMANN F,4MIL Y Chert, Dave, Country, E d, Davtd, Kelly Scott, Steven, Drew, Nancy, Stacte, Ctnnamon, Chrtstopher and Sarah Bollmann AMBASSADORS OF L 0 VE AND HARMONY It began on Lolly Lane, tn Green Run tn May 1997, when seven chtldren moved tn wtth relattves next door to Chert and Dave Bollmann and thetr four chtldren The Bollmann's estabhshed a youth group called "Chtldren Ltvtng Under the Btble" or CLUB whtch drew dozens of netghborhood chtldren to the hvely househoM of Chrtsttan songs and laughter The seven new chddrenjotned the group and the rest ts htstory The Bollmann's opened thetr home to the chtldren whose parents were unable to care for them, first becomtngfoster parents and eventually, tn 1998, adopttng them The Bollmann famtly ts an tnsptratton to all who know them and they have become local and nattonal celebrtttes as a stngtng group, Blended, they have performed at local churches and appeared on "Good Morning /l merica ", "Sally", and "It's Showtim e at the Apollo" In January, the Bollmann famdy was chosen to compete on nattonal televiston tn "My Life is a Sitcom" wtth etght other famthes from seven states to determtne who wouM star tn a new televtston show They placed second tn the competttton Mrs Bollmann accepted the Resolutton and advtsed the famtly wtll be performtng at HarborFest on June 8, 2003, and the Amertcan Pop Festival on August 30, 2003 Her husband, Dave, ts rettred Mthtary SEAL CBN, on thetr program "Ltvtng The Ltfe ", wtll have her husband Dave, on for Father's Day Stacte sang The Star Spangled Banner May 6, 2003 -21 - Item V-J.l.a. PUBLIC HEARING ITEM # 51129 Mayor Oberndorf DECLARED A PUBLIC HEARING: A GRICUL TURAL RESERVE PROGRAM (ARP) - 2 794 West Gibbs Road - 6421 Crags Causeway - West Landing Road There betng no speakers, Mayor Oberndorf CLOSED THE PUBLIC HEARING. May 6, 2003 - 22 - Item V-J.l.b. PUBLIC HEARING ITEM # 51130 Mayor Oberndorf DECLARED ,4 PUBLIC HEARING: LEASE OF CITY PROPERTY- 203 Laskin Road There betng no speakers, Mayor Oberndorf CLOSED THE PUBLIC HEARING May 6, 2003 - 23 - Item V-K. RESOL UTIONS/ORDINANCES ITEM # 51131 Upon motton by Vtce Mayor Jones, seconded by Counctl Lady Wdson, Oty Councd APPROVED IN ONE MOTION Items 1, 2, 3 (AS REVISED), 4, 5, 6, 7, 8, 9 a/b/c, 1 O, 11, 12 and 13 (AS REVISED) of the CONSENT AGENDA. Vottng 11-0 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McCIanan, Richard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vdlanueva, Rosemary Wtlson and James L Wood Councd Members Vottng Nay None Councd Members Absent None Councd Lady McClanan voted a VERBAL NAY on Item K. 9a/b/c (ARP/ SEA BAY DEVELOPMENT/ SA TTL ER/CREAMER) Councd Lady Eure voted a VERBAL NA Y on Item K. 9a. (ARP/SEA BAY) May 6, 2003 - 24 - Item V-K. 1. RES OL UTIONS/ORDINANCES ITEM # 51132 Upon motton by Vtce Mayor Jones, seconded by Counctl Lady Wilson, City Counctl ADOPTED: Resolutton APPROVING the tssuance of Industrtal Development Revenue Bonds, Sertes 2003 tn an amount not to exceed $5,000, O00 for London Bridge Holding LLC at 2601 Rehance Drtve, Oceana West Agenda Request Form ts tncorrect The Form shouM correctly read issuance of Revenue Bonds, not Refunding Revenue Bonds The Form shouM state London Bridge Holding LLC, not Auburn Associates. The Resolution is correct. Votmg 11-0 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS (LONDON BRIDGE HOLDING LLC PROJECT), SERIES 2003 WHEREAS, the City of Virginia Beach Development Authonty (the "Authority") has considered the application of London Bridge Holding LLC (the "Companf') for the issuance of the Authonty's variable rate demand bonds in an amount not to exceed $5,000,000 (the "Bonds") to assist in the financing of (a) the Company's acquisition from JRC, LLC of a certain parcel of land containing approximately 7.706 acres better known as 2601 Reliance Drive, Oceana West Industrial Park in the City of Virginia Beach, and (b) the Company's equipping and renovation of a manufactunng facility to be leased to London Bridge Trading Company, LTD. for use in 1ts business of manufacturing sewn nylon equipment (all improvements and land being collectively referred to as the "Faclhty") and has held a public heanng thereon on March 18, 2003, and WHEREAS, the Authority has requested City Council (the "Council") of Virg~ma Beach, Virginia (the "City") to approve the issuance of the Bonds to comply with Section 147(t) of the Internal Revenue Code of 1986, as amended; and WHEREAS, pursuant to Section 15.2-4906, Code of Vlrgima, 1950, as amended, a copy of the Authonty's Resolution approving the issuance of the Bonds, subject to terms to be agreed upon, and a reasonably detailed summary of the comments expressed at the public heanng, if any, have been filed with the Council of the City of Virginia Beach, Virginia BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 1. The Council of the City of Virginia Beach, Virginia, approves the issuance of the bonds by the City of Virginia Beach Development Authority, in a pnnclpal amount not to exceed $5,000,000 to finance the Company's acquisition from JRC, LLC of a certmn parcel of land containing approximately 7 706 acres better known as 2601 Reliance Drive, Oceana West Industrial Park in the City of Virginia Beach, and (b) the Company's equipping and renovation of a manufacturing facility to be leased to London Bridge Trading Company, LTD. for use in 1ts business of manufactunng sewn nylon equipment for the benefit of London Bridge Holding LLC, to the extent required by Section 147(1) of the Internal Revenue Code. 2. The approval of the issuance of the Bonds, as required by Section 147(f) does not constitute an endorsement of the bonds or the creditworthiness of the Company; but, pursuant to Chapter 643, Vlrgima Acts of Assembly of 1964, as amended, the Bonds shall provide that neither the City nor the Authority shall be obhgated 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 3. In approving the Resolution, the City of Virginia Beach, including its elected representatives, officers, employees and agents, shall not be liable and hereby disclaims all liability for any damages to any person, direct or consequential, resulting from the Authorlty's failure to issue Bonds for the Facility for any reason This Resolution shall take effect immediately upon its adoption Dated May 6 ,2003 Clerk, City Council of the City of Virginia Beach ' APPROVED AS TO [,EGAL SUFFICIENCY //385491 vl - Resolution of City Councd Rand McNally - Get a Map Page 1 of 2 Local Information · , ',~ Construction [~ Places to Stay V~rq~ma Beach Weather More Opbons Get dnwnq d~recbons to th~s location Get mdeaqe between two IocaBons m the u_~s Map another address Recenter map on address 2601 Reliance Dr Virginia Beach, VA 23452-7833 express map ~ print ~ save ~ ema Lynnhaven Mall ,/ ~ Increase Map Size Zoom Out-- I 2, ,~, 4, ~5 6~ 7 '&',~].,~ Zoom in Click on map to' ~ Recenter C' Zoom In C' Zoom In & Recenter Yes, our maps look d~fferenU F~nd out more about our new online mapping ~-"?~? ~ Find it in the 2003 Road Atlas ~j~ · page 105, Virginia Beach / Norfolk detail map ~ ' page 107, grid section · page 107, gr~d secbon L-18 Visit our Travel Store for your road trip needs Jill/ill 7_~ Watt L~gA Rand ~cNallE Power Inverter TrlpLmk $49.95 Best Seller $39.95 http'//www.randmcnally com/rmc/d]rect~ons/d~rGetMap jsp?BV_Sess~onlD=~~050 3/10/2003 VIRGINIA BEACH Virginia Beach Development Authority 222 Central Park Avenue, State 1000 V~rg~ma Beach, VA 23462 (757) 437-6464 FAX (757) 499-9894 Web, rte www vbgov corn March 17, 2003 The Honorable Meyera E. Obemdorf, Mayor Members of City Council Municipal Center V~rginia Beach, VA 23456 Re London Brtdge Holdtng LL C Revenue Bonds ($5,000,000) Dear Mayor Obemdorf and Members of City Council: We submit the following in connection with project London Bridge Holding LLC located at 2601 Reliance Drive, Oceana West Industrial Park in the City of Virgima Beach, Virginia (1) Evidence of pubhcatlon of the notice of hearing is attached as Exhibit A, and a summary of the statements made at the public hearing is attached as Exhibit B. The City of Vlrglma Beach Development Authorlty's (the "Authority") resolution recommending Council's approval is attached as Exhibit C (2) The Disclosure Statement is attached as Exhibit D (3) The statement of the Authonty's reasons for its approval as a benefit for the City of Virginia Beach and its recommendation that City Council approve the ~ssuance of the bonds described above is attached as Exhibit E (4) The Fiscal Impact Statement is attached as Exhibit F. The Honorable Meyera E. Obemdorf, Mayor Members of City Council March 17, 2003 Page 2 (5) Attached as Exhibit G is a summary sheet setting forth the type of issue, and identifying the ProJect and the principals. (6) Attached as Exhibit H is a letter from the appropriate City department commenting on the ProJect. Very truly yours, RGJ/GLF/rab Enclosures Exh,b~t A THE VIRGINIAN-PILOT NORFOLK, VIRGINIA AFFIDAVIT OF PUBLICATION The Virginian-Pilot WILLIAMS MULLEN CLARK DOBBI SUITE 900 ONE COLUMBUS CENTER VA BEACH VA 23462 REFERENCE. 10219123 385846v3 10191616 NOTICE OF PUBLIC HEA State of Virginia City of Norfolk This day, D Johnson personally appeared before me and after being duly sworn, made oath that. 1) She is affidavit clerk of The Virginian-Pilot, a newspaper published by Landmark Communications Inc., in the cities of Norfolk, Portsmouth, Chesapeake, Suffolk, and Virginia Beach, Common- wealth of Virginia and in the state of North Carolina 2)That the advertisement hereto annexed has been published in said newspaper on the date stated. PUBLISHED ON: 03/05 03/11 TOTAL COST: 433 92 AD SPACE: 64 LINE the] (the IPpll~at~on ]9'~n ~]~ ~ 'OP~A ~or NOTICE OF PUBLIC HEARING ON PROPOSED INDUSTRIAL DEVELOPMENT REVENUE BOND FINANCING BY THE CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY, VIRGINIA (LONDON BRIDGE HOLDING LLC PROJECT), SERIES 2003 Notice is hereby given that the C~ty of Virginia Beach Development Authority (the "Authority") will hold a public hearing on the apphcation of London Bridge Holding LLC, a Virgima limited hability company, 3509 Virginia Beach Boulevard, Virginia (the "Applicant"), for the Authority to ~ssue, pursuant to Chapter 643 of the Acts of Assembly of 1964, as amended, (the "Act"), up to $5,000,000 of ~ts Industrial Development Revenue Bonds to assist the Apphcant m financing the acquisition, renovation and equipping of an approximately 40,000 square foot existing building currently s~tuated on a 7.706 acre parcel of land located at 2601 Reliance Drive, Virgnnia Beach, Virginia (the "Project") for lease to London Bridge Trading Company for use ~n its business of manufacturing sewn nylon eqmpment. The public heanng which may be continued or adjourned, will be held at 8:30 a.m. on Tuesday, March 18, 2003, before the Authority at the Authonty's office at 222 Central Park Avenue, Suite 1000, Virgima Beach, V~rginia 23462. As reqmred by the Act, the Bonds wall not pledge the froth and credit or the taxing power of the Commonwealth of Virg~ma or any pohtical subchwsion thereof, ~nclud~ng the Authority, but will be payable solely from revenues derived from the Applicant and pledges therefor. Any person ~nterested in the issuance of the Bonds or the location or purpose of the proposed Project may appear and be heard. A copy of the Apphcant' s application is on file and is open for inspection at the Authority's office at 222 Central Park Avenue, Suite 1000, V~rg~ma Beach, Virginia 23462, during business hours. CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY #385846 v3 - NOTICE OF PUBLIC HEARING - LONDON BRIDGE Exhibit B INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF VIRGINIA BEACH, VIRGINIA RECORD OF PUBLIC HEARING (London Bridge Holding LLC Project) The Chairman of the Industrial Development Authority of the City of Virginia Beach (the "Authority") announced the commencement of a public hearing on the request of London Bridge Holding LLC (the "Borrower"), and that a notice of the hearing was published once a week for two consecutive weeks in a newspaper having general circulation in Virginia Beach, Virginia. The Chairman indicated that a copy of the notice and a certificate of publication of such notice have been filed with the records of the Industrial Development Authority of the City of Virginia Beach, Virginia. The following lndimduals appeared before the Authority. William W. Harrison, Jr. of the law firm ofWdllams Mullen Douglas McDougal, Member of London Bridge Trading LLC Mr. Harrison gave a brief description of the Project (below defined). He explained that the Borrower has applied to the Authority for up to $5,000,000 of its industrial development revenue bonds to assist the Borrower for the purpose of financing the acquisition, renovation and equipping of an approximately 40,000 square foot existing building currently situated on a 7.706 acre parcel of land located at 2601 Reliance Drive, Virginia Beach, Virgima for lease to London Bridge Trading Company for use in its business of manufacturing sewn nylon equipment (the "Project"). Mr. Harrison and Mr. McDougal answered various questions of the members of the Authority. No other persons appeared to address the Attthonty, and the Chairman closed the public hearing. The Authority hereby recommends that the City Council of the City of Virginia Beach, Virginia approve the issuance of the Authority's industrial development revenue bonds in a principal amount not to exceed $5,000,000 and hereby transmits the Fiscal Impact Statement to the City Council of the City of Virginia Beach and asks that this recommendation be received at its next regular or special meeting at which this matter can be properly placed on the Council's agenda for hearing. Dated: #388335 vi - record of pubhc hearing - London Bridge BI-47662 1 3/6/02 Exhibit C RESOLUTION OF THE CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY INDICATING ITS INTENT TO ISSUE BONDS FOR LONDON BRIDGE HOLDING LLC TO ACQUIRE, RENOVATE AND EQUIP AN APPROXIMATELY 40,000 SQUARE FOOT MANUFACTURING FACILITY FOR LEASE TO LONDON BRIDGE TRADING COMPANY, LTD. WHEREAS, there has been described to the City of Vlrglma Beach Development Authority (the "Authority"), the plans of London Bridge Holding LLC (the "Company"), whose current address ~s 3509 V~rglma Beach Boulevard, acting on its own behalf, to acquire, renovate and equip an approximately 40,000 square foot manufacturing faclhty (the "Project"), located at 2601 Reliance Drive, Oceana West Industrial Park, in the C~ty of Vlrglma Beach, Virginia (the "City") for lease to London Bridge Trading Company, LTD. for use in its business of manufactunng sewn nylon equipment; and WHEREAS, the Company, in its application and in ~ts appearance before the Authority, has requested that the Authority issue tts ~ndustnal development revenue bonds under the provisions of Chapter 643 of the Acts of Assembly of' 1964 and the Industrial Development and Revenue Bond Act, Chapter 49, Title 1'5 2 of the Code of Virginia of 1950, as amended (collectively, the "Act") in such amounts as may be necessary to finance costs to be tncurred ~n acqmrlng, renovating and eqmpp~ng the ProJect; and WHEREAS, a pubhc heanng has been held as reqmred by Section 147(f) of the Internal Revenue Code of 1986, as amended, and apphcable provisions of the Code of V~rglma of 1950, as amended (the "Vlrglma Code"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY THAT: The foregotng recitals are approved by the Authority and are ~ncorporated in, and deemed a part of this Resolution It ~s hereby found and determined by the Authority that (a) prows~on of finanmng of the Project by the Authority will be in the pubhc interest and will benefit the inhabitants of the City through the promotion of their safety, health, welfare, convenience or prosperity, and (b) the acqmsltlon, equipping and renovating of the Project for the Company in the C~ty will further the public purposes of the Act and provide a public benefit to the City by, among other things, promoting industry, commerce and developing trade. . It is hereby found and determined that the Project will constitute an "Authority faclhty" within the meaning of the Act. , To induce the Company to acqmre, eqmp and renovate the ProJect, the Authority hereby agrees to cooperate with the Company in the review and evaluation of the apphcat~on to finance the Project and, subject to the Authonty's final approval of the terms and conditions of the financing of the ProJect and the offering of the Bonds at a later date, to undertake the issuance of its industrial development revenue bonds therefor in the maximum pnncipal amount of $5,000,000 (the "Bonds") upon the terms and conditions to be mutually agreed upon by the Authority and the Company. If finally approved by the Authority, the Bonds will be~ issued pursuant to an Indenture of Trust and certain other documents satisfactory to, and with terms to be approved by, the Authority. The Bonds will be issued only after the Authority has received the approving opinion of Bond Counsel as to the qualification of the Bonds under the Act and appropriate certifications and opinions as to the offenng of the Bonds and the disclosure with respect thereto. It having been represented to the Authority that it is necessary to proceed with the acquisition, renovating and equipping of the ProJect, the Authority hereby agrees that the Company may proceed with the plans for the Project, enter into contracts for the acquisition, renovating and eqmpp~ng of the ProJect and take such other steps as it may deem appropriate in connection therewith, provided that nottung herein shall be deemed to authorize the Company to obligate the Authority without its consent in each instance to the payment of any moneys or the performance of any acts in connection with the Project The Authority hereby agrees to the recommendation of the Company that Williams Mullen, Vlrglma Beach, Virginia, be appointed as Bond Counsel and hereby appoints such firm to supervise the proceeds and approve the issuance of the Bonds. . The Authority hereby agrees, if requested, to accept the recommendation of the Company with respect to the appointment of an agent or underwriter for the sale of Bonds pursuant to the terms to be mutually agreed upon by the Authority and the Company. . All costs and expenses in connection with the financing and the acqmsltlon, renovation and equipping of the ProJect, including the fees and expenses of Bond Counsel, counsel for the Authority and the agent or underwriter for the sale of the Bonds shall be paid from the proceeds of the Bonds (but only to the extent permitted by applicable law) or by the Company If for any reason such Bonds are not issued, it is understood that all such expenses shall be paid by the Company and that the Authority shall have no responsibility therefor. The Bonds shall be limited obligations of the Authority and shall be payable solely out of revenues, receipts and payments specifically pledged therefor. Neither the commissioners, officers, agents or employees of the Authority, past, present and future, nor any person executing the Bonds, shall be liable personally on the Bonds by reason of the issuance thereof. The Bonds shall not be deemed to constitute a general obligation debt or a pledge of the faith and credit of the Commonwealth of Vlrgima or any political subdivision thereof, Including the -2- City of V~rginia Beach and the Authority and neither the Commonwealth of Virginia nor any such poht~cal subdivision thereof shall be personally hable thereon, nor ~n any event shall the Bonds be payable out of any funds or properties other than the special funds and sources provided therefor. Neither the froth and credit nor the taxing power of the Commonwealth of V~rglnia, or any political subdivision thereof, including the C~ty of Virginia Beach, shall be pledged to the payment of the pnnmpal of the Bonds or the interest thereon or other costs incident thereto. The Bonds shall not constitute an indebtedness within the meamng of any const~tutlonal or statutory debt limitation or restriction. 10. The Authority shall not be hable and hereby disclaims all habfllty to the Company for any damages, d~rect or consequential, resulting from the Authonty's failure to ~ssue Bonds for the Project for any reason, ~ncludlng but not hmlted to, the failure of the c~ty Council of the City of V~rgima Beach to approve the issuance of the Bonds. Nothing here~n shall be construed as a commitment or obhgatlon on the part of the Authority to adopt a final resolution or execute any documents with respect to the Project 11. Unless this Resolution is extended by the Authority, the Bonds authonzed hereunder shall be ~ssued w~thin one year from the date hereof or th~s Resolution shall become void and of no further force or effect. 12. The Authority hereby recommends that the C~ty Council of the C~ty of Vlrg~ma Beach approve the ~ssuance of the Bonds and hereby d~rects the Chairman or V~ce-Chmrman of the Authority to submit to the C~ty Council of the C~ty of Virg~ma Beach a reasonably detailed summary of the comments, ff any, expressed at the pubhc heanng, the fiscal impact statement reqmred by V~rglma law, and a copy of th~s Resolution. 13 This Resolution shall take effect immediately upon ~ts adoption. Adopted' March 18, 2003. APPROVED: /Assistah~ Secretary #385480 vl - resolution of Development Authority -3- Exhibit D DISCLOSURE STATEMENT Date: April 2, 2003 Applicant. LONDON BRIDGE HOLDING LLC All Owners (If different from Applicant)' None Type of Application: $5,000,000 Industrial Development Revenue Bonds to assist Applicant in acquisition, renovation and equipping of an approximately 40,000 square foot existing building currently situated on a 7.706 acre parcel of land located at 2601 Reliance Drive, Virginia Beach, Virginia for lease to London Bridge Trading Company, LTD. for use in its business of manufacturing sewn nylon eqmpment (the "Project") 1. The Applicant is a Virginia hmtted liability company. 2. The Applicant will be the owner of the Project 3. London Bndge Trading Company, LTD ~s a Vn'g~ma corporation whose sole shareholders, Douglas McDougal and Llnda McDougal, are the only members of London Bridge Holding LLC. Dated: Aprxl 3, 2003 LONDON BRIDGE HOLDING LLC By r *?[., j' #390510 vl - D~sclosure Statement - London Bridge VIRGINIA BEACH V~rglnla Beat h Development Authority 222 Central Park Avenue, State 1000 V~rg~ma Beach, VA 23462 (757) 437-646,1 FAX (757) 499-9894 Webstte www vbgov tom EXHIBIT E CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY APPROVAL OF THE ISSUANCE BY THE CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY TO ISSUE BONDS FOR LONDON BRDGE HOLDING LLC TO ACQUIRE, RENOVATE AND EQUIP AN APPROXIMATELY 40,000 SQUARE FOOT MANUFACTURING FACILITY FOR LEASE TO LONDON BRIDGE TRADING COMPANY, LTD. The Development Authority recommends approval of the above-referenced financing. The benefits of the Project to the City include increased employment of 137 jobs (87 current, estimated 50 more); additional local taxes to be paid in the amount of $20,000.00, service to local mlhtary and law enforcement units; and growth of local business already located in the City of Virginia Beach, Virginia Exhibit F FISCAL IMPACT STATEMENT DATE. March 18, 2003 TO. CITY COUNCIL OF THE CITY OF VIRGINIA BEACH APPLICANT: London Bridge Holding LLC TYPE OF FACILITY Manufacturing facility for sewn nylon equipment 1. Maximum amount of financing sought' $5,000,000 Estimated taxable value of the facility's real property to be constructed in the municipality: $5,000,000 o Estimated real property tax per year using present tax rates: $ 61,000 Estimated personal property tax per year using present tax rates: $ 24,000 o Estimated merchant's capital (business license) tax per year using present tax rates' 6,000 ° (a) Estimated purchased (b) Estimated purchased (c) Estimated purchased (d) Estimated purchased dollar value per year of goods that will be from Virginia companies within the locahty: $ dollar value per year of good that will be from non-Virginia companies within the locality' $~ dollar value per year of services that will be from Virginia companies within the locality: $ dollar value per year of services that will from non-Virginia companies within the locality $__ 230,000 56,000 7. Estimated number of regular Employees on year round basis' 137 8 Average annual salary per employee. $ 19,700 The information contained in this Statement is based solely on facts and estimates provided by the Applicant, and the Authority has made no independent investigation with respect thereto. CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY By' ~~(" ~ (~alr Exhibit G SUMMARY SHEET CITY OF VIRGINIA BEACH DEVELOPMENT AUTHORITY INDUSTRIAL DEVELOPMENT REVENUE BOND 1. PROJECT NAME: London Bridge Holding LLC ProJect 2 LOCATION: 2601 Reliance Drive o DESCRIPTION OF PROJECT: acquisition, renovation and equipping of an approximately 40,000 square foot existing building currently situated on a 7 706 acre parcel of land located at 2601 Reliance Drive, Virginia Beach, Virginia for lease to London Bridge Trading Company, LTD. for use in its business of manufacturing sewn nylon equipment. 4. AMOUNT OF BOND ISSUE: $5,000,000 5. PRINCIPALS: o Douglas McDougal Linda McDougal ZONING CLASSIFICATION' ao Present zoning classification of the Property: b. Is rezoning proposed? Co If so, to what zoning classification? 12 Yes No x NOTE- THIS DOCUMENT MUST BE ON 8 -1/2 X 14 INCH PLAIN BOND PAPER #385450 v3 - Apphcat~on for Bond - Virginia Beach - London Bridge 036783 0003 VIRGINIA BEACH Exhibit H Depa~ tment or' 222 Central Pa~'k Ave~me, State lO00 ~rgtma Beach, VA 23462 (757) 437-~64 F&X (757) 499-9894 ~,b ~te' wwwmbgov E. raatl: ¢cdev~vbgnv, com March 12, 2003 Mr. Robert G. Jones Chairman Virginia Beach Development Authority 222 Central Park Ave Virginia Beach, VA 23462 Re: London Bridge Trading Company, LTD. (LBT) Dear Mr. Jones: It is the finding of the Department of Economic Development that the 40,000 sq. ~. manufacturing facility being purchased by London Bridge Trading Company will be in the public's best interest and benefit the citizens of Virginia Beach through the creation of jobs and expansion of the tax base. This proposed project will promote industry, commerce and developing trade, thereby meeting the public purpose test. I will be happy to answer any qucstions you may have. Sincerely, David Couch Business Devclopment Manager TOTRL P.02 - 25 - Item V-K.2. RES OL UTIONS/ORDINANCES ITEM # 51133 Upon motion by Vice Mayor Jones, seconded by Council Lady Wdson, Ctty Councd ADOPTED: Resoluttons re General Obligation Public Improvement Bonds for various pubhc tmprovements, tncludtng schools, roadways, coastal, economtc, tourtsm and butldtng projects a. AUTHORIZING the Issuance and Sale of $50, 000, 000 of Sertes 2003A Bonds b. AUTHORIZING the Issuance and Sale of $51,205,000 of Refunding Bonds, Sertes 2003B Votmg 11-0 (By Consent) Councd Members Voting Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS, SERIES OF 2003A, OF THE CITY OF VIRGINIA BEACH, VIRGINIA, IN THE MAXIMUM PRINCIPAL AMOUNT OF $50,000,000, HERETOFORE AUTHORIZED, AND PROVIDING FOR THE FORM, DETAILS AND PAYMENT THEREOF 7 WHEREAS, the issuance of $56,700,000 of bonds of the City was authorized by an 8 ordinance adopted by the City Council on May 11, 1999, without being submitted to the 9 qualified voters of the City, to finance various public improvements, including schools, 10 roadways, coastal, economic and tourism and building projects, $41,147,407 of which bonds 11 have been ~ssued and sold; and 12 WHEREAS, the issuance of $49,700,000 of bonds of the City was authorized by an 13 ordinance adopted by the City Council on May 9, 2000, without being submitted to the quahfied 14 voters of the City, to finance various pubhc improvements, including schools, roadways, coastal 15 projects, economm and tourism projects, building and parks and recreation projects, $31,500,000 16 of which bonds have been issued and sold; and 17 WHEREAS, the issuance of $57,700,000 of bonds of the City was authorized by an 18 ordinance adopted by the City Council on May 15, 2001, without being submitted to the 19 qualified voters of the City, to finance various public improvements, including schools, 20 roadways, coastal projects, economic and tourism projects, building and parks and recreation 21 projects, $21,000,000 of which bonds have been issued and sold; and 22 WHEREAS, the issuance of $59,300,000 of bonds of the City was authorized by an 23 ordinance adopted by the City Council on May 14, 2002, w~thout being submitted to the 24 qualified voters of the C~ty, to finance various public Improvements, including schools, 25 roadways, coastal projects, economic and tourism projects, building and parks and recreation 26 projects, none of which bonds have been ~ssued and sold; and 27 WHEREAS, the City Council has determined it ~s in the C~ty's best ~nterest to ~ssue and 28 sell $8,500,000 of the bonds authorized on May 11, 1999, $2,396,170 of the bonds authorized on 29 May 9, 2000; $17,103,830 of the bonds authorized on May 15, 2001; and $22,000,000 of the 30 bonds authorized on May 14, 2002; and 31 WHEREAS, it has been recommended to the C~ty Council by representatives of 32 Government Finance Associates, Inc. and ARD Government Finance Group (the "Flnanmal 33 Advisors") that the City issue and sell general obligation public ~mprovement bonds ~n the 34 maximum principal amount of $50,000,000; and 35 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA 36 BEACH, VIRGINIA: 37 38 39 1. Issuance of Bonds. There shall be ~ssued, pursuant to the Constitution and statutes of the Commonwealth of Virginia, including the City Charter and the Public Finance Act of 1991, general obligation public improvement bonds of the City ~n the mammum pnnmpal 40 amount of $50,000,000 (the "Bonds") to provide funds to finance, in part, the cost of the various 41 public, school, road and highway, coastal, economic and tourism and building improvements as 42 more fully described in the ordinances authorizing the Bonds adopted on May 11, 1999, May 9, 43 2000, May 15, 2001, and May 14, 2002 (collectively, the "Project"), and costs incurred in 44 connection with issuing the Bonds. 45 2. Bond Details. The Bonds shall be designated "General Obhgation Public 46 Improvement Bonds, Series of 2003A," or such other designation as may be determined by the 47 City Manager, shall be in registered form, shall be dated such date as determined by the City 48 Manager, shall be in denominations of $5,000 and integral multiples thereof and shall be 49 numbered R-1 upward. Subject to Section 8, the issuance and sale of the Bonds are authorized 50 on terms as shall be satisfactory to the City Manager; provided, however, that the Bonds (a) shall 51 have a "true" or "Canadian" interest cost not to exceed 6.50% (taking into account any original 52 issue discount or premium), (b) shall be sold to the purchaser at a price not less than 99% of the 53 principal amount thereof (excluding any original issue discount) and (c) shall mature or be 54 subject to mandatory sinking fund redemptions in annual installments beginning no later than the 55 year 2004 and ending no later than the year 2023. Principal of the Bonds shall be payable 56 annually and interest on the Bonds shall be payable semiannually on dates determined by the 57 City Manager. 58 Each Bond shall bear interest at such rate as shall be determined at the time of sale, 59 calculated on the basis of a 360-day year of twelve 30-day months, and payable semiannually on 60 dates determined by the City Manager. Principal shall be payable to the registered owners upon 61 surrender of Bonds as they become due at the office of the Registrar (as hereinafter defined). 62 Interest shall be payable by check or draft mailed to the registered owners at their addresses as 63 they appear on the registration books kept by the Registrar on a date prior to each interest 64 payment date that shall be determined by the City Manager (the "Record Date"). Pnncipal and 65 interest shall be payable in lawful money of the United States of America. 66 Initially, one Bond certificate for each maturity of the Bonds shall be issued to and 67 registered in the name of The Depository Trust Company, New York, New York ("DTC"), or its 68 nominee. The City has heretofore entered into a Blanket Letter of Representations relating to a 69 book-entry system to be maintained by DTC with respect to the Bonds. "Securities Depository" 70 shall mean DTC or any other securities depository for the Bonds appointed pursuant to this 71 Section. 72 In the event that (a) the Securities Depository determines not to continue to act as the 73 securities depository for the Bonds by giving notice to the Registrar, and the City d~scharges ~ts 74 responsibilities hereunder, or (b) the City in its sole discretion determines (i) that beneficial 75 owners of Bonds shall be able to obtain certificated Bonds or (ii) to select a new Securities 76 Depository, then the City's Director of Finance shall, at the direction of the City, attempt to 77 locate another qualified securities depository to serve as Securities Depository and authenticate 78 and deliver certificated Bonds to the new Securities Depository or ~ts nominee, or authenncate 79 and deliver certificated Bonds to the beneficial owners or to the Securities Depository 80 participants on behalf of beneficial owners substantially in the form provided for in Section 5; 81 provided, however, that such form shall provide for interest on the Bonds to be payable (A) from 82 the date of the Bonds if they are authenticated prior to the first interest payment date, or (B) 83 otherwise from the interest payment date that is or immediately precedes the date on whmh the 84 Bonds are authenticated (unless payment of interest thereon ~s ~n default, in which case ~nterest 85 on such Bonds shall be payable from the date to which interest has been paid). In dehvenng 86 certificated Bonds, the City's Director of Finance shall be entitled to rely on the records of the 87 Securities Depository as to the beneficial owners or the records of the Securities Depository 88 participants acting on behalf of beneficial owners. Such certificated Bonds will then be 89 registrable, transferable and exchangeable as set forth in Section 7. 90 91 92 93 94 95 96 97 98 99 100 101 102 So long as there is a Securities Depository for the Bonds (1) ~t or its nominee shall be the registered owner of the Bonds, (2) notwithstanding anything to the contrary in this Resolution, determinations of persons entitled to payment of principal and interest, transfers of ownership and exchanges and receipt of notices shall be the responsibility of the Securities Depository and shall be effected pursuant to rules and procedures established by such Securities Depository, (3) the Registrar and the City shall not be responsible or liable for maintaining, supervising or reviewing the records maintained by the Securities Depository, its participants or persons acting through such participants, (4) references in this Resolution to registered owners of the Bonds shall mean such Securities Depository or its nominee and shall not mean the beneficial owners of the Bonds, and (5) in the event of any inconsistency between the provisions of th~s Resolution and the provisions of the above-referenced Blanket Letter of Representations such prowslons of the Blanket Letter of Representations, except to the extent set forth in this paragraph and the next preceding paragraph, shall control. 103 104 105 106 3. Redemption Provisions. The Bonds may be subject to redemption prior to maturity at the option of the City on or after dates, if any, determined by the City Manager, in whole or in part at any time, at a redemption price equal to the 100% of the pnncipal amount of the Bonds to be redeemed, together with any interest accrued to the redemption date. 107 108 Any term bonds may be subject to mandatory sinking fund redemption upon terms determined by the City Manager. 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 If less than all of the Bonds are called for redemption, the Bonds to be redeemed shall be selected by the City's Director of Finance in such manner as he may determine to be in the best interest of the City. If less than all the Bonds of a particular maturity are called for redemption, the Bonds within such maturity to be redeemed shall be selected by the Securities Depository pursuant to its rules and procedures or, if the book-entry system is discontinued, shall be selected by the Registrar by lot in such manner as the Registrar in its discretion may determine. In either case, (a) the portion of any Bond to be redeemed shall be in the principal amount of $5,000 or some integral multiple thereof and (b) in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds that ~s obtained by dlwd~ng the pnnc~pal amount of such Bond by $5,000. The City shall cause notice of the call for redemption identifying the Bonds or portions thereof to be redeemed to be sent by facsimile transmission, registered or certified mail or overnight express delivery, not less than 30 nor more than 60 days prior to the redemption date, to the registered owner of the Bonds. The C~ty shall not be responsible for mailing notice of redemption to anyone other than DTC or another quahfied Securities Depository or its nominee unless no qualified Securities Depository is the registered owner of the Bonds. If no qualified Securities Depository is the registered owner of the Bonds, notice of redemption shall be mailed to the registered owners of the Bonds. If a portion of a 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 Bond is called for redemption, a new Bond in pnncipal amount equal to the unredeemed portion thereof will be issued to the registered owner upon the surrender thereof. 4. Execution and Authentication. The Bonds shall be signed by the manual or facsimile signature of the Mayor or Vice-Mayor, shall be countersigned by the manual or facsimile signature of its Clerk or Deputy Clerk, and the City's seal shall be affixed thereto or a facsimile thereof printed thereon; provided, however, that if both of such signatures are facsimiles, no Bond shall be valid until it has been authenticated by the manual signature of an authorized officer or employee of the Registrar and the date of authentication noted thereon 5. Bond Form. The Bonds shall be in substantially the following form, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by the officers signing the Bonds, whose approval shall be evidenced conclusively by the execution and delivery of the Bonds: Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for registration of transfer, exchange, or payment, and any certificate is registered in the name of Cede & Co., or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. REGISTERED REGISTERED No.R- $ UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF VIRGINIA BEACH General Obligation Public Improvement Bond Series of 2003A INTEREST RATE MATURITY DATE DATED DATE CUSIP % ,__ ., 2003 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: DOLLARS The City of Virginia Beach, Virginia (the "City"), for value received, promises to pay, upon surrender hereof to the registered owner hereof, or registered assigns or legal representative, the principal sum stated above on the maturity date stated above, subject to prior 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 redemption as hereinafter provided, and to pay interest hereon from ~ts date semiannually on each and , beginning , at the annual rate stated above, calculated on the basis of a 360-day year of twelve 30-day months. Principal and interest are payable in lawful money of the United States of America by the City Treasurer, who has been appointed Registrar (the "Registrar"). The City may appoint a qualified bank as successor paying agent and registrar for the bonds. Notwithstanding any other provision hereof, this bond is subject to a book-entry system maintained by The Depository Trust Company ("DTC"), and the payment of principal and interest, the providing of notices and other matters shall be made as described in the City's Blanket Letter of Representations to DTC. This bond is one of an issue of $ General Obligation Public Improvement Bonds, Series of 2003A, of like date and tenor, except as to number, denomination, rate of interest, privilege of redemption and maturity, and is issued pursuant to the Constitution and statutes of the Commonwealth of Virginia, including the City Charter and the Public Finance Act of 1991. The bonds have been authorized by ordinances adopted by the Council of the City (the "City Council") on May 11, 1999, May 9, 2000, May 15, 2001, and May 14, 2002, and are issued pursuant to a resolution adopted by the City Council on [May __], 2003, to finance various public, school, road, highway and bridge improvements and to pay costs of issuance of the bonds. Bonds maturing on or before ., , are not subject to redemption prior to maturity. Bonds matunng on or after , ~, are subject to redemption prior to maturity at the option of the City on or after , ~, in whole or in part at any time (in any multiple of $5,000), upon payment of 100% of the principal amount of bonds to be redeemed plus interest accrued and unpaid to the redemption date. Bonds maturing on ., ~., are required to be redeemed in part before maturity by the City on in the years and amounts set forth below, at a redemption price equal to the principal amount of the bonds to be redeemed, plus accrued interest to the redemption date: Year Amount Year Amount 189 190 191 192 193 194 195 196 197 198 199 If less than all of the bonds are called for redemption, the bonds to be redeemed shall be selected by the City's Director of Finance ~n such manner as he may determine to be in the best ~nterest of the City. If less than all the bonds of a particular maturity are called for redemption, the bonds within such maturity to be redeemed shall be selected by DTC or any successor securities depository pursuant to its rules and procedures or, if the book entry system is discontinued, shall be selected by the Registrar by lot in such manner as the Registrar in Its discretion may determine. In either case, (a) the portion of any bond to be redeemed shall be in the principal amount of $5,000 or some integral multiple thereof and (b) in selecting bonds for redemption, each bond shall be considered as representing that number of bonds that is obtained by dividing the principal amount of such bond by $5,000. The City shall cause notice of the call 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 for redemption identifying the bonds or portions thereof to be redeemed to be sent by facsimile transmission, registered or certified mail or overnight express dehvery, not less than 30 nor more than 60 days prior to the redemption date, to DTC or its nominee as the registered owner hereof. If a portion of this bond is called for redemption, a new bond ~n the pnncipal amount of the unredeemed portion hereof will be issued to the registered owner upon surrender hereof. The full faith and credit of the City are ~rrevocably pledged for the payment of pnnc~pal of and premium, if any, and interest on this bond. Unless other funds are lawfully avmlable and appropriated for timely payment of this bond, the City Council shall levy and collect an annual ad valorem tax, over and above all other taxes authorized or limited by law and w~thout limitation as to rate or amount, on all taxable property within the City sufficient to pay when due the principal of and premium, if any, and interest on this bond. The Registrar shall treat the registered owner of this bond as the person or entity exclusively entitled to payment of principal of and premium, if any, and interest on this bond and the exercise of all other rights and powers of the owner, except that interest payments shall be made to the person or entity shown as the owner on the registration books on the [fifteenth] day of the month preceding each interest payment date. All acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia to happen, exist or be performed precedent to and ~n the issuance of this bond have happened, exist and have been performed, and the issue of bonds of which this bond is one, together with all other indebtedness of the City, is within every debt and other hm~t prescribed by the Constitution and statutes of the Commonwealth of Virginia IN WITNESS WHEREOF, the City of V~rgima Beach, Virg~ma, has caused th~s bond to be signed by its Mayor, to be countersigned by its Clerk, its seal to be affixed hereto, and this bond to be dated ,2003. COUNTERSIGNED: 225 226 227 228 229 230 Clerk, City of Virginia Beach, Virginia (SEAL) Mayor, City of Virginia Beach, Virginia ASSIGNMENT FOR VALUE RECEIVED the undersigned sell(s), assign(s) and transfer(s) unto 231 232 233 234 235 236 (Please print or type name and address, Including postal zip code, of Transferee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF TRANSFEREE: 237 ' ' 238 239 the within bond and all rights thereunder, hereby irrevocably constituting and appointing ,Attomey, 240 241 242 243 to transfer said bond on the books kept for the registration thereof, with full power of subst~tution in the premises. Dated: Signature Guaranteed 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 NOTICE: Signature(s) must be guaranteed by an Eligible Guarantor Institution such as a Commercial Bank, Trust Company, Securities Broker/Dealer, Credit Union or Savings Association who is a member of a medallion program approved by The Securities Transfer Association, Inc. (Signature of Registered Owner) NOTICE: The signature above must correspond with the name of the registered owner as it appears on the front of this bond in every particular, without alteration or enlargement or any change whatsoever. 6. Pledge of Full Faith and Credit. The full faith and credit of the City are irrevocably pledged for the payment of the principal of and premium, if any, and interest on the Bonds. Unless other funds are lawfully available and appropriated for timely payment of the Bonds, the City Council shall levy and collect an annual ad valorem tax, over and above all other taxes authorized or limited by law and without limitation as to rate or amount, on all locally taxable property in the City sufficient to pay when due the principal of and premium, if any, and interest on the Bonds. 7. Registration, Transfer and Owners of Bonds. The C~ty Treasurer IS appointed paying agent and registrar for the Bonds (the "Registrar"). The City may appoint a quahfied bank or trust company as successor paying agent and registrar of the Bonds. The Registrar shall maintain registration books for the registration and registration of transfers of Bonds. Upon presentation and surrender of any Bonds at the office of the Registrar, at ~ts corporate trust office if the Registrar is a bank or trust company, together with an assignment duly executed by the registered owner or his duly authorized attorney or legal representative in such form as shall be satisfactory to the Registrar, the City shall execute, and the Registrar shall authenticate, if required by Section 4, and shall deliver in exchange, a new Bond or Bonds having an equal aggregate principal amount, in authorized denominations, of the same form and maturity, beanng interest at the same rate and registered in the name as requested by the then registered owner thereof or its duly authorized attorney or legal representative. Any such exchange shall be at the expense of the City, except that the Registrar may charge the person requesting such exchange the amount of any tax or other governmental charge required to be paid with respect thereto. The Registrar shall treat the registered owner as the person or entity exclusively entitled to payment of principal and premium, if any, and interest and the exercise of all other rights and 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 3O8 309 310 311 312 313 314 315 316 powers of the owner, except that interest payments shall be made to the person or entity shown as owner on the registration books as of the Record Date. 8. Sale of Bonds. The City Council approves the following terms of the sale of the Bonds. The Bonds shall be sold by competitive bid in a pnncipal amount to be determined by the City Manager, in collaboration with the Financial Advisors, and subject to the limitations set forth in paragraph 1, and the City Manager shall receive bids for the Bonds and award the Bonds to the bidder providing the lowest "true" or "Canadian" interest cost, subject to the limitations set forth in paragraph 2. Following the same of the Bonds, the City Manager shall file a certificate with the City Clerk setting forth the final terms of the Bonds. The actions of the City Manager in selling the Bonds shall be conclusive, and no further action with respect to the sale and issuance of the Bonds shall be necessary on the part of the City Council. 9. Notice of Sale. The City Manager, in collaboration with the Financial Advisors, is authorized and directed to take all proper steps to advertise the Bonds for sale substantially in accordance with the form of Notice of Sale attached hereto, which is approved, provided that the City Manager, in collaboration with the Financial Advisors, may make such changes ~n the Notice of Sale not inconsistent with this Resolution as he may consider to be ~n the best interest of the City. 10. Official Statement. A draft of a Preliminary Official Statement describing the Bonds and the City's General Obligation Public Improvement Refunding Bonds, Series of 2003B (the "Refunding Bonds"), copies of which have been provided to the members of the City Council, is approved as the form of the Preliminary Official Statement by which the Bonds w~ll be offered for sale, with such completions, omissions, insertions and changes not inconsistent with this Resolution as the City Manager, in collaboration with the Financial Advisors, may consider appropriate. After the Bonds have been sold, the City Manager, in collaboration with the Financial Advisors, shall make such completions, omissions, insertions and changes in the Preliminary Official Statement not inconsistent with this Resolution as are necessary or desirable to complete it as a final Official Statement, execution thereof by the City Manager to constitute conclusive evidence of his approval of any such completions, omissions, insertions and changes. The City shall arrange for the delivery to the purchaser of the Bonds of a reasonable number of copies of the final Official Statement, within seven business days after the Bonds have been sold, for delivery to each potential investor requesting a copy of the Official Statement and to each person to whom such purchaser initially sell Bonds. 11. Official Statement Deemed Final. The C~ty Manager ~s authorized, on behalf of the City, to deem the Preliminary Official Statement and the Official Statement ~n final form, each to be final as of its date within the meaning of Rule 15c2-12 (the "Rule") of the Securities and Exchange Commission (the "SEC"), except for the omission in the Prehmlnary Official Statement of certain pricing and other information permitted to be omitted pursuant to the Rule. The distribution of the Preliminary Official Statement and the Official Statement ~n final form shall be conclusive evidence that each has been deemed final as of its date by the City, except for the omission in the Preliminary Official Statement of such pricing and other information permitted to be omitted pursuant to the Rule. 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 12. Preparation and Delivery of Bonds. After bids have been received and the Bonds have been awarded, the officers of the City are authorized and directed to take all proper steps to have the Bonds prepared and executed ~n accordance w~th their terms and to dehver thc Bonds to the purchaser thereof upon payment therefor. 13. Arbitrage Covenants. (a) Except for the Refunding Bonds, the C~ty represents that there have not been issued, and covenants that there will not be issued, any obligations that will be treated as part of the same issue of obligations as the Bonds within the meaning of Treasury Regulations Section 1.150-1 (c). (b) The City covenants that it shall not take or omit to take any action the taking or omission of which will cause the Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code, or otherwise cause interest on the Bonds to be includable in the gross income of the registered owners thereof under existing laws. Without limiting the generality of the foregoing, the City shall comply with any provision of law that may require the City at any time to rebate to the United States any part of the earnings derived from the investment of the gross proceeds of the Bonds, unless the City receives an opinion of nationally recognized bond counsel that such compliance is not required to prevent interest on the Bonds from being includable in the gross income of the registered owners thereof under existing law. The City shall pay any such required rebate from its legally available funds. 14. Non-Arbitrage Certificate and Elections. Such officers of the C~ty as may be requested are authorized and directed to execute an appropriate certfficate setting forth the expected use and investment of the proceeds of the Bonds in order to show that such expected use and investment will not violate the provisions of Section 148 of the Code, and any elections such officers deem desirable regarding rebate of earnings to the United States, for purposes of complying with Section 148 of the Code. Such certificate and elections shall be ~n such form as may be requested by bond counsel for the City. 15. Limitation on Private Use. The City covenants that it shall not permit the proceeds of the Bonds or the facilities financed with the proceeds of the Bonds to be used in any manner that would result in (a) 5% or more of such proceeds or the facilities financed with such proceeds being used in a trade or business earned on by any person other than a governmental unit, as provided in Section 141 (b) of the Code, (b) 5% or more of such proceeds or the facilities being financed with such proceeds being used with respect to any output facility (other than a facility for the furnishing of water), within the meaning of Section 141 (b)(4) of the Code, or (c) 5% or more of such proceeds being used directly or indirectly to make or finance loans to any persons other than a governmental unit, as provided in Section 141(c) of the Code; provided, however, that if the City receives an opinion of nationally recognized bond counsel that any such covenants need not be complied with to prevent the interest on the Bonds from being includable in the gross income for federal income tax purposes of the registered owners thereof under existing law, the City need not comply with such covenants 16. Investment Authorization. The City Council hereby authorizes the Director of Finance to direct the City Treasurer to utilize the State Non-Arbitrage Program of the Commonwealth of Virginia ("SNAP") and the Virginia Arbitrage & Investment Management Program ("AIM"), or either of them, in connection with the investment of the proceeds of the RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF GENERAL OBLIGATION PUBLIC IMPROVEMENT REFUNDING BONDS, SERIES OF 2003B, OF THE CITY OF VIRGINIA BEACH, VIRGINIA, IN THE MAXIMUM PRINCIPAL AMOUNT OF $51,205,000, PROVIDING FOR THE FORM, DETAILS AND PAYMENT THEREOF, AND PROVIDING FOR THE REFUNDING OF CERTAIN GENERAL OBLIGATION PUBLIC IMPROVEMENT BONDS OF THE CITY 9 WHEREAS, it appears that the City can effect considerable savings by ~ssmng bonds to 10 refund all or a portion of the following bond issues (collectively, the "Refunded Bonds"): 11 General Obligation Public Improvement and Refunding Bonds, Series of 1994, issued in 12 the original aggregate principal amount of $78,090,000, of which $16,880,000 is currently 13 outstanding; 14 General Obligation Public Improvement Bonds, Series of 1995, ~ssued in the original 15 aggregate principal amount of $46,500,000, of which $9,300,000 is currently outstanding; 16 General Obligation Pubhc Improvement Bonds, Series of 1996, ~ssued ~n the original 17 aggregate principal amount of $58,000,000, of which $34,800,000 is currently outstanding; and 18 General Obligation Public Improvement and Refunding Bonds, Series of 1998, ~ssued in 19 the original aggregate principal amount of $125,610,000, of which $108,165,000 is currently 20 outstanding; 21 WHEREAS, it has been recommended to the City Council by representattves of 22 Government Finance Associates, Inc. and ARD Government Finance Group (the "F~nancml 23 Advisors") that the City issue and sell general obligation public improvement refunding bonds ~n 24 the maximum principal amount of $51,205,000; and 25 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA 26 BEACH, VIRGINIA: 27 1. Issuance of Bonds. There shall be issued, pursuant to the Constitution and 28 statutes of the Commonwealth of Virginia, including the C~ty Charter and the Public Finance Act 29 of 1991, general obligation public improvement refunding bonds of the City in the mammum 30 principal amount of $51,205,000 (the "Bonds") to prowde funds to refund the Refunded Bonds, 31 including funds to pay principal of and premium and interest on the Refunded Bonds untd their 32 redemption and costs incurred in connection with such refunding and costs incurred tn 33 connection with issuing the Bonds. 34 2. Bond Details. The Bonds shall be designated "General Obligation Public 35 Improvement Refunding Bonds, Series of 2003B," or such other designation as may be 36 determined by the City Manager, shall be in registered form, shall be dated such date as 37 determined by the City Manager, shall be in denominations of $5,000 and integral multiples 38 thereof and shall be numbered R-1 upward. SubJect to Section 8, the ~ssuance and sale of the 39 Bonds are authorized on terms as shall be satisfactory to the City Manager; provided, however, 40 that the Bonds (a) shall have a "true" or "Canadian" interest cost not to exceed 6.50% (taking 41 into account any original issue discount or premium), (b) shall be sold to the purchaser at a price 42 not less than 99% of the principal amount thereof (excluding any original issue discount) and (c) 43 shall mature or be subject to mandatory sinking fund redemptions in annual installments 44 beginning no later than the year 2004 and ending no later than the year 2023. Pnnclpal of the 45 Bonds shall be payable annually and interest on the Bonds shall be payable semiannually on 46 dates determined by the City Manager. 47 Each Bond shall bear interest at such rate as shall be determined at the time of sale, 48 calculated on the basis of a 360-day year of twelve 30-day months, and payable semiannually on 49 dates determined by the City Manager. Principal shall be payable to the registered owners upon 50 surrender of Bonds as they become due at the office of the Registrar (as hereinafter defined). 51 Interest shall be payable by check or draft mailed to the registered owners at their addresses as 52 they appear on the registration books kept by the Registrar on a date prior to each ~nterest 53 payment date that shall be determined by the City Manager (the "Record Date"). Pnnclpal and 54 interest shall be payable in lawful money of the United States of America. 55 Initially, one Bond certfficate for each matunty of the Bonds shall be issued to and 56 registered in the name of The Depository Trust Company, New York, New York ("DTC"), or ~ts 57 nominee. The City has heretofore entered into a Blanket Letter of Representations relating to a 58 book-entry system to be maintained by DTC with respect to the Bonds. "Securities Depository" 59 shall mean DTC or any other securities depository for the Bonds appointed pursuant to th~s 60 Section. 61 In the event that (a) the Securities Depository determines not to continue to act as the 62 securities depository for the Bonds by giving notme to the Registrar, and the C~ty d~scharges ~ts 63 responsibilities hereunder, or (b) the City in its sole discretion determines 0) that beneficial 64 owners of Bonds shall be able to obtain certificated Bonds or (i0 to select a new Securities 65 Depository, then the City's Director of Finance shall, at the direction of the City, attempt to 66 locate another qualified securities depository to serve as Securities Depository and authenticate 67 and deliver certificated Bonds to the new Securities Depository or its nominee, or authenticate 68 and deliver certificated Bonds to the beneficial owners or to the Securities Depository 69 participants on behalf of beneficial owners substantially in the form provided for in Section 5; 70 provided, however, that such form shall provide for interest on the Bonds to be payable (A) from 71 the date of the Bonds if they are authenticated prior to the first interest payment date, or (B) 72 otherwise from the interest payment date that is or immediately precedes the date on which the 73 Bonds are authenticated (unless payment of interest thereon is in default, ~n which case ~nterest 74 on such Bonds shall be payable from the date to which interest has been paid). In delivering 75 certificated Bonds, the City's Director of Finance shall be entitled to rely on the records of the 76 Securities Depository as to the beneficial owners or the records of the Securities Depository 77 participants acting on behalf of beneficial owners. Such certificated Bonds will then be 78 registrable, transferable and exchangeable as set forth in Section 7. 79 So long as there is a Securities Depository for the Bonds (1) it or its nominee shall be the 80 registered owner of the Bonds, (2) notwithstanding anything to the contrary in this Resolution, 81 determinations of persons entitled to payment of pnnclpal and interest, transfers of ownership 82 and exchanges and receipt of notices shall be the responsibility of the Securities Depository and 83 shall be effected pursuant to rules and procedures established by such Securities Depository, (3) 84 the Registrar and the City shall not be responsible or liable for maintaining, supervising or 85 reviewing the records maintained by the Securities Depository, its participants or persons acting 86 through such participants, (4) references in this Resolution to registered owners of the Bonds 87 shall mean such Securities Depository or its nominee and shall not mean the beneficial owners of 88 the Bonds, and (5) in the event of any inconsistency between the provisions of this Resolution 89 and the provisions of the above-referenced Blanket Letter of Representations such provisions of 90 the Blanket Letter of Representations, except to the extent set forth in this paragraph and the next 91 preceding paragraph, shall control. 92 3. Redemption Provisions. The Bonds may be subject to redemption prior to 93 maturity at the option of the City on or after dates, if any, determined by the City Manager, m 94 whole or in part at any time, at a redemption price equal to the 100% of the pnnc~pal amount of 95 the Bonds to be redeemed, together with any interest accrued to the redemptmn date 96 Any term bonds may be subject to mandatory sinking fund redemption upon terms 97 determined by the City Manager. 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 If less than all of the Bonds are called for redemption, the Bonds to be redeemed shall be selected by the City's Director of Finance in such manner as he may determine to be ~n the best interest of the City. If less than all the Bonds of a particular maturity are called for redemption, the Bonds within such maturity to be redeemed shall be selected by the Securities Depository pursuant to its rules and procedures or, if the book-entry system is discontinued, shall be selected by the Registrar by lot in such manner as the Registrar ~n ~ts discretion may determine. In either case, (a) the portion of any Bond to be redeemed shall be ~n the principal amount of $5,000 or some integral multiple thereof and (b) in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds that ~s obtained by d~vid~ng the pnnc~pal amount of such Bond by $5,000. The City shall cause notice of the call for redemption identifying the Bonds or portions thereof to be redeemed to be sent by facsimile transmissmn, registered or certified mail or overnight express delivery, not less than 30 nor more than 60 days prior to the redemption date, to the registered owner of the Bonds. The City shall not be responsible for mailing notice of redemption to anyone other than DTC or another qualified Securities Depository or its nominee unless no qualified Securities Depository is the registered owner of the Bonds. If no qualified Securities Depository ~s the registered owner of the Bonds, notice of redemption shall be mailed to the registered owners of the Bonds. If a port~on of a Bond is called for redemption, a new Bond in principal amount equal to the unredeemed port~on thereof will be issued to the registered owner upon the surrender thereof. 4. Execution and Authentication. The Bonds shall be signed by the manual or facsimile signature of the Mayor or Vice-Mayor, shall be countersigned by the manual or facsimile signature of its Clerk or Deputy Clerk, and the City's seal shall be affixed thereto or a facsimile thereof printed thereon; provided, however, that if both of such signatures are facsimiles, no Bond shall be valid until it has been authenticated by the manual signature of an authorized officer or employee of the Registrar and the date of authentication noted thereon. 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 5. Bond Form. The Bonds shall be ~n substantially the following form, w~th such completions, omissions, ~nsertions and changes not ~ncons~stent with this Resolution as may be approved by the officers signing the Bonds, whose approval shall be ewdenced conclusively by the execution and delivery of the Bonds: Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for registration of transfer, exchange, or payment, and any certificate is registered in the name of Cede & Co., or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. REGISTERED REGISTERED No.R- $ UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF VIRGINIA BEACH General Obligation Public Improvement Refunding Bond Series of 2003B INTEREST RATE MATURITY DATE DATED DATE CUSIP % ., ., 2003 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: DOLLARS The City of Virginia Beach, Virginia (the "City"), for value received, promises to pay, upon surrender hereof to the registered owner hereof, or registered assigns or legal representative, the principal sum stated above on the maturity date stated above, subject to prior redemption as hereinafter provided, and to pay interest hereon from ~ts date semiannually on each and , beginning , at the annual rate stated above, calculated on the basis of a 360-day year of twelve 30-day months. Pnnmpal and ~nterest are payable in lawful money of the United States of America by the City Treasurer, who has been appointed Registrar (the "Registrar"). The City may appoint a quahfied bank as successor paying agent and registrar for the bonds. Notwithstanding any other provision hereof, this bond is subject to a book-entry system maintained by The Depository Trust Company ("DTC"), and the payment of principal and 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 interest, the providing of notices and other matters shall be made as described ~n the City's Blanket Letter of Representations to DTC. This bond is one of an issue of $ General Obligation Pubhc Improvement Refunding Bonds, Series of 2003B, of like date and tenor, except as to number, denomination, rate of interest, privilege of redemption and maturity, and is issued pursuant to the Constitution and statutes of the Commonwealth of Virginia, ~ncluding the City Charter and the Public Finance Act of 1991. The bonds are issued pursuant to a resolution adopted by the City Council on [May ], 2003, to provide funds to refund pomons of various series of general obligation bonds issued by the City between ~ and ~ and to pay costs of ~ssuance of the bonds Bonds maturing on or before ., ~., are not subject to redemption prior to maturity. Bonds maturing on or after ., ~., are subject to redemption prior to maturity at the option of the City on or after , ~, in whole or in part at any t~me (in any multiple of $5,000), upon payment of 100% of the pnncipal amount of bonds to be redeemed plus interest accrued and unpaid to the redemption date. Bonds maturing on ., ~., are required to be redeemed ~n part before maturity by the City on in the years and amounts set forth below, at a redempnon price equal to the pnncipal amount of the bonds to be redeemed, plus accrued ~nterest to the redemption date: Year Amount Year Amount 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 If less than all of the bonds are called for redemption, the bonds to be redeemed shall be selected by the C~ty's Director of Finance in such manner as he may determine to be ~n the best interest of the City. If less than all the bonds of a particular maturity are called for redemption, the bonds within such maturity to be redeemed shall be selected by DTC or any successor securities depository pursuant to its rules and procedures or, if the book entry system ~s discontinued, shall be selected by the Registrar by lot in such manner as the Registrar in Its discretion may determine. In either case, (a) the portion of any bond to be redeemed shall be ~n the principal amount of $5,000 or some integral multiple thereof and (b) in selecting bonds for redemption, each bond shall be considered as representing that number of bonds that is obtmned by dimding the principal amount of such bond by $5,000 The C~ty shall cause notice of the call for redemption identifying the bonds or portions thereof to be redeemed to be sent by facs~mde transmission, registered or certified mail or overnight express delivery, not less than 30 nor more than 60 days prior to the redemption date, to DTC or ~ts nominee as the registered owner hereof If a portion of this bond is called for redemption, a new bond in the pnnc~pal amount of the unredeemed portion hereof will be issued to the registered owner upon surrender hereof The full faith and credit of the C~ty are irrevocably pledged for the payment of pnnclpal of and premium, if any, and interest on this bond. Unless other funds are lawfully available and appropriated for timely payment of th~s bond, the City Council shall levy and collect an annual ad valorem tax, over and above all other taxes authorized or limited by law and without 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 limitation as to rate or amount, on all taxable property within the City sufficient to pay when due the principal of and premium, if any, and interest on this bond. The Registrar shall treat the registered owner of this bond as the person or entity exclusively entitled to payment of principal of and premium, if any, and interest on this bond and the exercise of all other rights and powers of the owner, except that interest payments shall be made to the person or entity shown as the owner on the registration books on the [fifteenth] day of the month preceding each interest payment date. All acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia to happen, exist or be performed precedent to and in the issuance of this bond have happened, exist and have been performed, and the issue of bonds of which this bond is one, together with all other indebtedness of the City, is within every debt and other limit prescribed by the Constitution and statutes of the Commonwealth of Virginia IN WITNESS WHEREOF, the City of Virgima Beach, V~rgima, has caused th~s bond to be signed by its Mayor, to be countersigned by its Clerk, its seal to be affixed hereto, and this bond to be dated ,2003. COUNTERSIGNED: 212 213 214 215 216 217 Clerk, City of Virginia Beach, Virginia (SEAL) Mayor, City of Virginia Beach, Virginia ASSIGNMENT FOR VALUE RECEIVED the undersigned sell(s), assign(s) and transfer(s) unto 218 219 220 221 222 223 224 225 226 (Please print or type name and address, including postal z~p code, of Transferee) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF TRANSFEREE: the within bond and all rights thereunder, hereby ~rrevocably constituting and appointing , Attorney, 227 228 229 230 to transfer said bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: Signature Guaranteed 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 NOTICE: Signature(s) must be guaranteed by an Eligible Guarantor Institution such as a Commercial Bank, Trust Company, Securities Broker/Dealer, Credit Umon or Savings Association who is a member of a medallion program approved by The Securities Transfer Association, Inc. (Signature of Registered Owner) NOTICE: The signature above must correspond with the name of the registered owner as it appears on the front of th~s bond in every particular, w~thout alteration or enlargement or any change whatsoever. 6. Pledge of Full Faith and Credit. The full froth and credit of the C~ty are irrevocably pledged for the payment of the principal of and premium, if any, and ~nterest on the Bonds. Unless other funds are lawfully available and appropriated for t~mely payment of the Bonds, the City Council shall levy and collect an annual ad valorem tax, over and above all other taxes authorized or limited by law and without hm~tatlon as to rate or amount, on all locally taxable property in the City sufficient to pay when due the pnnc~pal of and premium, ~f any, and interest on the Bonds. 7. Registration, Transfer and Owners of Bonds. The C~ty Treasurer is appointed paying agent and registrar for the Bonds (the "Registrar"). The City may appoint a qualified bank or trust company as successor paying agent and registrar of the Bonds. The Registrar shall maintain registration books for the registration and registration of transfers of Bonds. Upon presentation and surrender of any Bonds at the office of the Registrar, at ~ts corporate trust office if the Registrar is a bank or trust company, together with an assignment duly executed by the registered owner or his duly authorized attorney or legal representative ~n such form as shall be satisfactory to the Registrar, the City shall execute, and the Registrar shall authenticate, if required by Section 4, and shall deliver in exchange, a new Bond or Bonds having an equal aggregate principal amount, in authorized denominations, of the same form and maturity, bearing interest at the same rate and registered in the name as requested by the then registered owner thereof or its duly authorized attorney or legal representative. Any such exchange shall be at the expense of the City, except that the Registrar may charge the person requesting such exchange the amount of any tax or other governmental charge reqmred to be prod with respect thereto The Registrar shall treat the registered owner as the person or entity exclusively entitled to payment of principal and premium, if any, and interest and the exermse of all other rights and powers of the owner, except that interest payments shall be made to the person or entity shown as owner on the registration books as of the Record Date. 8. Sale of Bonds. The City Councd approves the following terms of the sale of the Bonds. The Bonds shall be sold by competitive bid in a principal amount to be determined by the City Manager, in collaboration with the Financial Advisors, and subject to the hm~tatlons set forth in paragraph 1, and the City Manager shall receive b~ds for the Bonds and award the Bonds to the bidder providing the lowest "true" or "Canadian" interest cost, subject to the limitations set forth in paragraph 2. Following the same of the Bonds, the City Manager shall file a certificate with the City Clerk setting forth the final terms of the Bonds. The actions of the City Manager in selling the Bonds shall be conclusive, and no further actmn with respect to the sale and issuance of the Bonds shall be necessary on the part of the City Council. 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 9. Notice of Sale. The C~ty Manager, ~n collaboration with the Financial Adwsors, is authorized and directed to take all proper steps to advertise the Bonds for sale substantmlly ~n accordance with the form of Notice of Sale attached hereto, which Is approved, provided that the City Manager, in collaboration with the Financial Adwsors, may make such changes tn the Notice of Sale not inconsistent with this Resolution as he may consider to be ~n the best interest of the City. 10. Official Statement. A draft of a Preliminary Official Statement describing the Bonds and the City's General Obligation Public Improvement Bonds, Series of 2003A (the "Public Improvement Bonds"), copies of which have been provided to the members of the City Council, ~s approved as the form of the Preliminary Official Statement by which the Bonds will be offered for sale, with such completions, omissions, ~nsertions and changes not inconsistent with this Resolution as the City Manager, in collaboration with the Financial Advisors, may consider appropriate. After the Bonds have been sold, the City Manager, in collaboration with the Financial Advisors, shall make such completions, omissions, ~nsertlons and changes ~n the Preliminary Official Statement not inconsistent with this Resolution as are necessary or desirable to complete ~t as a final Official Statement, execution thereof by the City Manager to constitute conclusive evidence of his approval of any such completions, omissions, ~nsert~ons and changes The City shall arrange for the delivery to the purchaser of the Bonds of a reasonable number of copies of the final Official Statement, within seven business days after the Bonds have been sold, for delivery to each potential investor requesting a copy of the Official Statement and to each person to whom such purchaser initially sell Bonds. 11. Official Statement Deemed Final. The C~ty Manager is authorized, on behalf of the City, to deem the Preliminary Official Statement and the Offimal Statement ~n final form, each to be final as of its date within the meaning of Rule 15c2-12 (the "Rule") of the Securities and Exchange Commission (the "SEC"), except for the omission in the Preliminary Official Statement of certain pricing and other information permitted to be omitted pursuant to the Rule. The d~stribution of the Preliminary Official Statement and the Official Statement in final form shall be conclusive evidence that each has been deemed final as of its date by the City, except for the omission in the Preliminary Official Statement of such pricing and other information permitted to be omitted pursuant to the Rule. 12. Preparation and Delivery of Bonds. After bids have been received and the Bonds have been awarded, the officers of the City are authorized and directed to take all proper steps to have the Bonds prepared and executed m accordance with their terms and to deliver the Bonds to the purchaser thereof upon payment therefor. 13. Redemption of Refunded Bonds. The City Manager is authorized and d~rected to determine which of the Refunded Bonds, if any, shall be refunded. The Escrow Agreement (as hereinafter defined) shall provide for notice of redemption to be given in accordance with the resolutions providing for the issuance of the Refunded Bonds to the registered owners of the Refunded Bonds. 14. Escrow Deposit Agreement. In the event the City Manager determines that it ~s in the City's best interest that all or a portion of the Refunded Bonds should be refunded, the City Manager and the Director of Finance, or either of them, are authorized and directed to 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 execute an escrow deposit agreement (the "Escrow Agreement") between the City and an escrow agent to be appointed by the City Manager (the "Escrow Agent"). The Escrow Agreement shall be in the form approved by the City Manager, in collaboration with the C~ty Attorney and the City's bond counsel, and shall provide for the deposit and investment of a port~on of the Bond proceeds for the defeasance of the Refunded Bonds. The execution of the Escrow Agreement by the City Manager or the Director of Finance shall constitute conclusive evidence of such official's approval of the Escrow Agreement. The Escrow Agreement shall prowde for the irrevocable deposit of a portion of the Bond proceeds (the "Refunding Portion") in an escrow fund which shall be sufficient, when invested in noncallable, direct obligations of the United States Government (the "Government Obligations"), to provide for payment of principal of and premium, if any, and interest on the Refunded Bonds; provided, however, that such Bond proceeds shall be invested in such manner that none of the Bonds will be "arbitrage bonds" within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, and regulations issued pursuant thereto (the "Code"). The Escrow Agent is authorized and directed to execute an initial and final subscription form for the purchase of the Government Obligations and such other contracts and agreements necessary to provide for the defeasance of the Refunded Bonds as are approved by the City Manager or the Director of Finance, in collaboration with the City Attorney and the City's bond counsel. 334 335 336 337 338 339 340 341 342 343 344 345 346 15. Deposit of Bond Proceeds. At the direction of the Director of Finance, the City Treasurer is authorized and directed (a) to provide for the delivery of the Refunding Portion to the Escrow Agent for deposit in the escrow fund established by the Escrow Agreement, in an amount that will be sufficient, together with the interest thereon when invested as provided m the Escrow Agreement, (i) to pay when due the interest on the Refunded Bonds to the first date on which they may be redeemed at the option of the City and (ii) to pay upon the earlier of maturity or redemption the principal of the Refunded Bonds, plus any interest accrued and unpaid to such redemption date, plus the applicable redemption premium, and (b) to provide for the deposit of the remaining proceeds of the Bonds in a special account to be used to pay the costs of the Project and the costs incurred in refunding the Refunded Bonds and issuing the Bonds. If the Director of Finance directs, the City Treasurer is further authorized to take all such further action as may be necessary or desirable in connection with the payment and refunding of the Refunded Bonds. 347 348 349 350 16. Arbitrage Covenants. (a) Except for the Public Improvement Bonds, the City represents that there have not been issued, and covenants that there will not be issued, any obligations that will be treated as part of the same issue of obligations as the Bonds within the meaning of Treasury Regulations Section 1.150-1 (c). 351 352 353 354 355 356 357 358 (b) The City covenants that it shall not take or omit to take any action the taking or omission of which will cause the Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code, or otherwise cause interest on the Bonds to be includable in the gross income of the registered owners thereof under existing laws. Without limiting the generality of the foregoing, the City shall comply with any provision of law that may require the City at any t~me to rebate to the United States any part of the earnings derived from the ~nvestment of the gross proceeds of the Bonds, unless the City receives an opinion of nationally recognized bond counsel that such compliance is not required to prevent ~nterest on the Bonds from being ~ncludable in 359 36O 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 39O 391 392 393 394 395 396 397 398 the gross income of the registered owners thereof under existing law. The City shall pay any such required rebate from its legally available funds. 17. Non-Arbitrage Certificate and Elections. Such officers of the City as may be requested are authorized and directed to execute an appropriate certificate setting forth the expected use and investment of the proceeds of the Bonds in order to show that such expected use and investment will not violate the provisions of Section 148 of the Code, and any elections such officers deem desirable regarding rebate of earnings to the United States, for purposes of complying with Section 148 of the Code. Such certificate and elections shall be in such form as may be requested by bond counsel for the City. 18. Limitation on Private Use. The City covenants that it shall not permit the proceeds of the Bonds or the facilities refinanced with the proceeds of the Bonds to be used in any manner that would result in (a) 5% or more of such proceeds or the facilities refinanced with such proceeds being used in a trade or business camed on by any person other than a governmental unit, as provided in Section 141(b) of the Code, (b) 5% or more of such proceeds or the facilities being refinanced with such proceeds being used with respect to any output facility (other than a facility for the furnishing of water), within the meaning of Section 141 (b)(4) of the Code, or (c) 5% or more of such proceeds being used directly or indirectly to make or finance loans to any persons other than a governmental unit, as provided in Section 141 (c) of the Code; provided, however, that if the City receives an opinion of nationally recognized bond counsel that any such covenants need not be complied with to prevent the interest on the Bonds from being includable in the gross income for federal income tax purposes of the registered owners thereof under existing law, the City need not comply with such covenants. 19. Continuing Disclosure Agreement. The Mayor, the City Manager and such officer or officers of the City as either may designate are hereby authorized and directed to execute a continuing disclosure agreement setting forth the reports and notices to be filed by the City and containing such covenants as may be necessary to assist the purchasers of the Bonds m complying with the provisions of the Rule promulgated by the SEC. Such continuing disclosure agreement shall be substantially in the form of the draft dated April 18, 2003, copies of which have been provided to members of the City Council, with such completions, omissions, insertions and changes that are not inconsistent with this Resolution. 20. Other Actions. All other actions of officers of the City and the City Council in conformity with the purposes and intent of this Resolution and in furtherance of the issuance and sale of the Bonds are hereby ratified, approved and confirmed. The officers of the City are authorized and d~rected to execute and deliver all certfficates and instruments and to take all such further action as may be considered necessary or desirable in connection with the issuance, sale and delivery of the Bonds. 21. Repeal of Conflicting Resolutions. All resolutions or parts of resolutions in conflict herewith are repealed. 22. Effective Date. This Resolution shall take effect immediately. 10 399 400 Adopted by the Council of the City of Virginia Beach, Virginia, th~s6'ch day of May, 2003. CA-8860 F:\Users\CBunnga\WP\WORK\VAB 2003 Refimdmg Refundmg Resolut~on(v3) DOC R-1 April 30, 2003 APPROVED AS TO CONTENT: Finance Department APPROVED AS TO LEGAL SUFFICIENCY: Law DepartmenU/ 11 - 26- Item V-K. 3. RES OL UTIONS/ORDINANCES ITEM # 51134 Upon motton by Vtce Mayor Jones, seconded by Counctl Lady Wtlson, City Counctl ADOPTED, AS REVISED: Resolutton CREATING a Commissioii Task Force to study and make recommendations on Real Estate Tax Relief for Senior Citizens Vottng 11-0 (By ConsenO Council Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 Revised Version Requested by Councilmembers Jim Reeve, Richard A. Maddox and Ron A. Villanueva A RESOLUTION CREATING A TASK FORCE TO STUDY AND MAKE RECOMMENDATIONS ON REAL ESTATE TAX RELIEF FOR SENIOR CITIZENS 10 11 12 13 14 15 16 17 18 19 20 21 22 23 WHEREAS, the City of Virginia Beach currently promotes itself as a "Community for a Lifetime;" WHEREAS, it is the goal of the Virginia Beach City Council to make this statement a reality; WHEREAS, the Council recognizes that our senior citizens provide a tremendous benefit to our community; WHEREAS, the Council understands that many of our senior citizens have loyally contributed to the tax base for years and now may require fewer City services than in the past; and WHEREAS, the Council further realizes that many senior citizens may feel overwhelmed by the continued increase in real estate assessments and corresponding tax burden while living on a fixed income and facing other rising costs, such as medical bills. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 1. That the Virginia Beach Council hereby creates a task force, to be known as the "Senior Citizen Real Estate Tax Relief Task Force," to study the impact of rising real estate assessments on senior citizens. 24 25 26 27 28 29 30 31 32 33 2. That this task force will be made up of eleven (11) Virginia Beach citizens, with one (1) member to be appointed by each Council member. 3. That this task force will conclude its study and make its recommendations no later than November 1, 2003. 4. That the City Attorney is hereby directed to provide staff support to the task force for legal research needs and general assistance. 5. That the City Manager and Real Estate Assessor are hereby directed to provide assistance to the task force as needed. 34 35 Adopted by the Council of the City of Virginia Beach, Virginia, on the day of , 2003. CA-8849 ORDIN\NONCODE\seniorresl.wpd R-4 May 6, 2003 APPROVED AS TO LEGAL SUFFICIENCY: .-~ ~ Item V-K. 4. -27- RESOL UTIONS/ORDINANCES ITEM # 51135 Upon motton by Vtce Mayor Jones, seconded by Counctl Lady Wtlson, Ctty Counctl ADOPTED: Ordtnance to AMEND Sectton 33-18 of the Ctty Code re Vending Machines on pubhc property tn the Resort Tourtst Dtstrtcts and EXEMPT those dtspenstng pubhc transportatton ttckets Vottng 11-0 (By ConsenO Counctl Members Votmg Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, dtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 10 11 12 13 14 15 16 17 18 19 2O 21 22 23 24 25 26 AN ORDINANCE TO AMEND THE CITY CODE PERTAINING TO VENDING MACHINES ON PUBLIC PROPERTY IN THE RESORT TOURIST DISTRICTS AND AN EXEMPTION FOR VENDING MACHINES DISPENSING PUBLIC TRANSPORTATION TICKETS SECTION AMENDED: ~ 33-18 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: That Section 33-18 of the City Code is hereby amended and reordained to read as follows: Sec. 33-18. Vending machines on public property. (a) Notwithstanding the provisions of this chapter or any other chapter of the Code, the placement of vending machines on any sidewalk or other public property located within designated RT-1, RT-2, RT-3 and RT-4 Resort Tourist Districts shall be prohibited. (b) For purposes of this section, a vending machine shall be defined as any self-service or coin-operated box, container, storage unit or other dispenser installed, used or maintained for the provision or delivery, by sale or otherwise, of consumable and/or nonconsumable products. (c) The provisions of this section shall not be applicable to newspaper vending machines~ ~r coin-operated telephones, or machines dispensing public transportation tickets or tokens. (d) The placement and appearance of machines dispensing public transportation tickets or tokens shall be approved by the city manaqer or his designee prior to placement of the machines. 27 28 (de) Any person who violates the provisions of this section shall be guilty of a Class 4 misdemeanor. 29 30 Adopted by the City Council of the City of Virginia Beach, Virginia, on this 6th day of May, 2003. CA-8865 DATA/ORDIN/PRO?OSED/33-018ord.wpd R1 April 25, 2003 - 28- Item V-K. 5. RESOL UTIONS/ORDINANCES ITEM # 51136 Upon motton by Vtce Mayor Jones, seconded by Councd Lady Wdson, Ctty Councd ADOPTED: Ordtnance to AUTHORIZE acqutsttton of 6 7 acres from the Ctty of Norfolk adjacent to Lake Lawson for $300,000 under the Open Space preservatton program Vottng 11-0 (By ConsenO Councd Members Voting Aye Harry E Dtezel Margaret L Eure, Vice Mayor Louts R Jones, Reba S McClanan, Richard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wdson and James L Wood Counctl Members Vottng Nay None Councd Members Absent None May 6, 2003 AN ORDINANCE TO AUTHORIZE ACQUISITION OF APPROXIMATELY 6.7 ACRES OF PROPERTY LOCATED ADJACENT TO LAKE LAWSON FOR $300,000 FROM THE CITY OF NORFOLK UNDER THE OPEN SPACE PRESERVATION PROGRAM WHEREAS, in the opinion of the Council of the City of Virginia Beach, ]. 0 Virginia, a public need exists for the acquisition of open space property in order to preserve natural and undeveloped areas in the northern port~on of the C~ty; and 12 WHEREAS, the City of Norfolk desires and has approved an 13 Ordinance and a Purchase Agreement to sell to the City of V~rginia Beach approximately 6.7 acres of property adjacent to Lake Lawson for a purchase price of $300,000; and 15 WHEREAS, both the C~ty of Norfolk and the City of V~rg~nia Beach believe a public necessity exists to maintain the property adjacent to Lake Lawson in its natural, undeveloped state ~n order to protect and preserve Lake Lawson as a water 18 source; 19 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE 20 CITY OF VIRGINIA BEACH, VIRGINIA' 21 Section 1. That the City Council authorizes the acquisition by 22 purchase pursuant to Sections 15.2-1800, et seq, Code of V~rg~nia of 1950, as amended, 23 of all that certain real property in fee simple, owned by the C~ty of Norfolk, and located 24 adjacent to Lake Lawson in the City of Virginia Beach, which property is more particularly 25 described ~n Exhibit A, and shown on Exhibit B, attached hereto. 26 Secbon 2. That the City Manager ~s hereby authorized to make or cause to be made on behalf of the C~ty of V~rg~nia Beach a Purchase Agreement for the 28 property previously described, to the extent that funds are available, for the sum of $300,000.00 and ~n accordance with the terms contained on the Summary of Terms, a copy of which is attached as Exhibit C. 31 Section 3. That the City Manager is further authorized to do all things necessary and proper to effect the purchase of the property and to carry out the terms of the Purchase and Sale Agreement. 34 35 Adopted by the Council of the City of Virginia Beach, Virginia, on the 36 37 38 39 4O 6th day of May CA-8748 PREPARED. April 15, 2003 ,2003. APPROVED AS TO CONTENTS .~ri'GNATU RE DEPARTMENT APPROVED AS TO LEGAL SUFFICIENCY AND FORM CITY ATT~)RNEY EXHIBIT A All those certain lots, tracts or parcels of land together w~th ~mprovements, appurtenances and easements benefitting the property thereon belonging, lying, situated and being in the C~ty of V~rg~nia Beach, Virginia and designated and described as: "'PROPOSED' PARCEL A", containing 5.193 acres, more or less, and "'PROPOSED' PARCEL B", containing 1.504 acres, more or less, all as shown on 'EXHIBIT DRAWING OF PROPOSED PARCELS A AND B, CITY OF NORFOLK PROPERTY LOCATED AT LAKE LAWSON, VIRGINIA BEACH, VIRGINIA". which exhibit was prepared by the D~vis~on of Surveys, Department of Public Works, Norfolk, V~rgin~a, dated June 1,2000, and last revised July 1,2002; LESS AND EXCEPT riparian interests to and in Lake Lawson, if any, appurtenant to Proposed Parcel A and Proposed Parcel B. i i -- i , I, EXHIBIT B SI - i ~ oo ~ o LAKE LAWSON CITY OF ',, NORFOLK DEED B18 NORFOLK DEED LAKE LA WSON t46q-51-3556 LAKE LAWSON.I:X~N M.J.S. o o o LAKE LAWSON ©o 0 DODO 0000 0 © o oD o o LOCATION MAP LAKE LAWSON SCALE: 1" = 400' OD o o PREPARED BY PAN ENG. CADD DEFt. APRIL 23, 2003 LAKE LAWSON ACQUISITION SUMMARY OF TERMS Exhibit C SELLER: PROPERTY: PURCHASE PRICE: ZONING CHANGE: RESTRICTIONS: RESALE OF PROPERTY: SETTLEMENT: City of Norfolk 6 7 Acres adjacent to Lake Lawson $300,000 ($44,776 per acre) Property is currently zoned R-5D, agreement allows Norfolk to terminate the agreement in the event the apphcatlon to rezone the property to P-1 is not approved No use of the Property ~s permitted that would adversely affect the use of the Lake as a water supply resource or adversely affect Norfolk's water system L~cense for traversing Norfolk's 25-foot budding setback will be recorded in a form acceptable to Virginia Beach. License revocable only if use of license determined to have adversely impacted or put at risk Norfolk's water system Use of lake and lake bottom will remain same as currently allowed. If Virginia Beach proposes to sell the Property to a third party, it must first offer to resell it to Norfolk at the same terms Virginia Beach can dedicate or gift the Property for uses consistent with the terms of the Purchase Agreement with Norfolk. The latter of (a) 60 days after execution of the Agreement or (b) as soon as all legal documents can be prepared, the Property can be subdivided and title problems, if any, can be resolved. F \DataXAty\Forms\Deeds\Work~ngh-p 4873-lake lawson sot doc Item V-K. 6. - 29 - RES OL U TIONS/ORD INANCES ITEM # 5113 7 Upon motton by Vice Mayor Jones, seconded by Councd Lady Wdson, Ctty Councd ADOPTED: Ordtnance to AUTHORIZE exercise of an Aprt125, 2001, Option Agreement wtth the Caton Family and Edward T. Caton re purchase of 344 acres at Rudee Loop for $1,000,000 Votmg 11-0 (By ConsenO Councd Members Votmg Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vdlanueva, Rosemary Wdson and James L Wood Counctl Members Voting Nay None Councd Members Absent None May 6, 2003 AN ORDINANCE AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXERCISE THE OPTION TO PURCHASE REAL PROPERTY AT RUDEE LOOP FROM CATON FAMILY, L.L.C. WHEREAS, Rudee Loop has been identified as a pnme location for development at the Oceanfront, and the development of Rudee Loop would complement the major Pawlion expansion and is consistent with the Oceanfront Resort Concept Plan; WHEREAS, the City has entered ~nto an Option Agreement dated April 25, 2001, 10 11 12 for the purchase of approximately .344 acres of real property at Rudee Loop from Caton Family, L.L.C. (the "Caton Property") for a purchase price of $1,000,000; WHEREAS, to date, the C~ty has expended $50,000 for the ~nihal opbon fee and 13 an add~bonal $50,000 for the extension fee, which fees apply to the $1,000,000 14 purchase price should the City choose to exercise the Option; 15 16 17 WHEREAS, the C~ty Council has determined the purchase of the Caton Property to be in the best ~nterest of the C~ty; and WHEREAS, there ~s sufficient funding for the $900,000 purchase pnce balance in 18 CIP Project 9-302 Rudee Loop Development- Phase I to acquire this property. 19 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF 20 VIRGINIA BEACH, VIRGINIA, 21 1. The City Manager or his designee ~s hereby authorized to exercise the 22 23 24 25 opbon on the approximately .344 acre parcel of real property owned by the Caton Family, L.L.C. at Rudee Loop for the Rudee Loop Development project and to purchase such real property for a purchase pnce of $1,000,000, $100,000 of which has already been paid, on the terms contained ~n the Option Agreement. 26 2. The City Manager or h~s designee is further authonzed to execute all 27 documents that may be necessary or appropriate ~n connection with such purchase so 28 long as such documents are customary transaction documents executed by the 29 purchaser in connection with a real estate transaction and so long as such documents 30 are acceptable to the City Manager and the City Attorney. 31 Adopted by the Council of the City of Virginia Beach, V~rginia, on the 32 6th of May ,2003. 33 34 APPROVED AS TO CONTENT 35 36 ~J'~ S~er~ices 37 Management 38 CA-8747 39 4O APPROVED AS TO LEGAL SUFFICIENCY City Attorney's Office F:\Data~,TY~Ord~n\NONCODE\Caton Property Purchase ORD.doc April 11,2003 - 30- Item V-K. 7. RES OL UTIONS/ORDINANCES ITEM # 51138 Upon motton by Vtce Mayor Jones, seconded by Counctl Lady Wtlson, Ctty Counctl ADOPTED: Or&nance to AUTHORIZE the lease of1800 square feet of Ctty-owned office space at 203 Lasktn Road to USO of Hampton Roads. Vottng 11-0 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vice Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Council Members Vottng Nay None Counctl Members Absent None May 6, 2003 ORDINANCE NO. AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE WITH THE USO OF HAMPTON ROADS FOR 1800 SQUARE FEET OF CITY-OWNED OFFICE SPACE AT 203 LASKIN ROAD WHEREAS, the City of Virginia Beach ("the City") is the owner of that certain parcel of 8 land together with the improvements thereon, at the 31 st Street strip center located at 203 9 Laskln, Virginia Beach, Virginia (the "Property"); l0 WHEREAS, the USO of Hampton Roads (the "USO") has requested to lease 11 approximately 1800 square feet of office space in the Property (the "Prermses") for use as an office during the resort tourist season; 13 WHEREAS, the Premises is vacant and the City has no need of the Premises; and 14 WHEREAS, City staff has deterrmned that the leasing of the Premises to the USO will promote the USO's goal of estabhshlng a presence in the resort area to provide assistance to 16 mdltary visitors at the oceanfront, and will further the City's continued commitment to support the military presence in Hampton Roads. 18 THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 20 That the City Manager is hereby authorized to execute a lease between the USO of 2 l_ Hampton Roads and the City for the office space located at 203 Lask~n Road in accordance with 2 2 the Summary of Terms attached hereto. Adopted by the Council of the C~ty of Virg~ma Beach, V~rg~ma on the 6 t h day of 23 24 25 26 27 May ,2003. CA-8741 R-1 4/14/03 APPROVED AS TO LEGAL SUFFICIENCY: Law Department ~ _) D~t. COnvention & Visitor'Developement APPROVED AS TO CONTENT: 6ept. of Gene~ S~rvices / SUMMARY OF TERMS LEASE FOR THE USE OF 1800 SQUARE FEET OF SPACE AT 203 LASKIN ROAD LESSOR: City of Virginia Beach. LESSEE: USO of Hampton Roads PREMISES: Approximately 1800 square feet of office space located at 203 Laskln Road TERM: June 1, 2003 - October 15, 2003. Lease may be terminated at any time by either party upon 30 days prior written notice. RENT: The Premises will be leased at no cost to Lessee. RIGHTS AND RESPONSIBILITIES OF LESSEE: Will use the Premises for an office. Any drop off zones for dedicated buses associated with Lessee' s operations shall require the prior written approval of Lessor. · Will pay for telephone, cable, janitorial services and refuse disposal. Will maintain and perform any and all necessary repairs to the interior of the Premises and will malntmn the Premises clean and In good condition. Will be responsible and hable for all damage to the Premises, including the building, caused by the willful or negligent acts or omiss~ons of Lessee or its agents or invltees, or for any breach of Lessee's obligations under the Lease. Will procure and maintain public liability insurance for the Premises, and provide a certificate evidencing such coverage to Lessor prior to occupancy. Will indemnify the City for any and all claims arising from Lessee's use and occupation of the Premises caused by Lessee, its agents, employees or lnvltees. RIGHTS AND RESPONSIBILITIES OF CITY: Will inspect the Premises for compliance w~th the terms of the Lease and all state, local and federal laws, statutes, ordinances and regulations. · Will provide and pay for the cost of all water, sewage and electricity for the Premises. Item V-K. 8. -31 - RES OL UTIONS/ORDINANCES ITEM # 51139 Upon motton by Vice Mayor Jones, seconded by Counctl Lady Wilson, Ctty Counctl ADOPTED: Ordtnance to APPROPRIATE $100,000 from the General Fund for an interest-free loan to Sandbridge Volunteer Rescue Squad re ambulance replacement Votmg 11-0 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jim Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 AN 0RDINANCE TO APPROPRIATE $100,000 FROM THE FUND BALANCE OF THE GENERAL FUND FOR THE PURPOSE OF PROVIDING AN INTEREST-FREE LOAN T0 THE SANDBRIDGE VOLUNTEER RESCUE SQUAD TO PURCHASE A NEW AMBULANCE 8 WHEREAS, the Sandbridge Volunteer Rescue Squad does not 9 presently have adequate funds to purchase a new ambulance, but it 10 has represented that fund-raising efforts will provide sufficient 11 funds to repay a $100,000 interest-free loan from the City of 12 Virginia Beach. 13 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF 14 VIRGINIA BEACH, VIRGINIA: 15 1. That $100,000 is hereby appropriated from the fund balance 16 of the General Fund for an interest-free loan to the Sandbridge 17 Volunteer Rescue Squad so it may purchase an ambulance, with 18 revenue increased accordingly. 19 2. That this loan is to be repaid in installments over (4) 20 years, due on the 1st day of January each year, in (4) equal 21 installments of $25,000, with the first payment to be made on or 22 before January 1, 2004,and the last payment to be made on or before 23 January 1, 2007. 24 Adopted by the Council of the City of Virginia Beach, 25 Virginia, on the ~t~--- day of M=~, , 2003. 27 Requires an affirmative vote by a majority of the members of 28 the City Council. CA-8851 ordin/noncode/sandbridgeroad.ord.wpd April 22, 2003 R2 APPROVED AS TO CONTENT' Management Services~~ APPROVED AS TO LEGAL SUFFICIENCY: C-lty At to y~ s~c"~~ Sandbrid9e Volunteer Re.sc't e Squad _ _ ~(~,, ~a~ll,I~l~je I'~,~d April 9, 2003 Chief Edwards Department of EMS 1917 Arctic Avenue Virginia Beach, VA 23451 Chief' Please consider a no-interest loan for the purpose of securing a new ambulance The purpose of the new ambulance is to support Sandbndge Rescue Squad's increase call volume The squad's call volume has increased greatly since the inception of our daytime manning policy The new ambulance will be purchased from Horton. The cost of the new ambulance will be $125,973 The third ambulance will be required to support the above mentioned increase in call volume, and to ease the load on our older units We are requesting a loan of $100,000 to be paid back annually at a rate of $25,000 per year for four years We will assume the balance of $25,973 It is our plan to start the payback 1 January 2004 Thank you for your consideration S~ncerely , /,' Vice Preslde~ Sandbndge Volunteer Rescue Squad A3N39~13~3 30 IN3tNINVd3O Item V-K. 9. a. - 32 - RES OL UTIONS/ORDINANCES ITEM # 51140 Upon motton by Vice Mayor Jones, seconded by Counctl Lady Wilson, Ctty Counctl ADOPTED: K9 Ordinance to AUTHORIZE the acqutsttton of Agrtcultural Reserve Preservatton (ARP) easements and tssuance of contract obhgattons (DISTRICT 7 - PRINCESS ANNE) a. Sea Bay Development Corporation 62.59 Acres Installment Purchase Agreement No. 2003-5 7 SSlO, S26 Votmg 9-2 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Vtce Mayor Louts R Jones, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay Margaret L Eure and Reba S McClanan Counctl Members Absent None May 6, 2003 10 11 12 13 14 15 16 17 18 19 2O 21 22 23 24 AN ORDINANCE AUTHORIZING THE ACQUISITION OF AN AGRICULTURAL LAND PRESERVATION EASEMENT AND THE ISSUANCE BY THE CITY OF ITS CONTRACT OBLIGATIONS IN THE MAXIMUM PRINCIPAL AMOUNT OF $310,326 WHEREAS, pursuant to the Agricultural Lands Preservatzon Ordinance (the "Ordinance"), Appendix J of the Code of the City of Virginia Beach, there has been presented to the City Council a request for approval of an Installment Purchase Agreement (the form and standard provisions of which have been previously approved by the City Council, a summary of the material terms of which is hereto attached, and a true copy of which is on file in the City Attorney's Office) for the acquisition of the Development Rights (as defined in the Installment Purchase Agreement) on certain property located in the City and more fully described in Exhibit B of the Installment Purchase Agreement for a purchase price of $310,326; and WHEREAS, the aforesaid Development Rights shall be acquired through the acquisition of a perpetual agricultural land preservation easement, as defined in, and in compliance with, the requirements of the Ordinance; and WHEREAS, the City Council has reviewed the proposed terms and conditions of the purchase as evidenced by the Installment Purchase Agreement; 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 1. The City Council hereby determines and finds that the proposed terms and conditions of the purchase of the Development Rights pursuant to the Installment Purchase Agreement, including the purchase price and manner of payment, are fair and reasonable and in furtherance of the purposes of the Ordinance, and the City Manager or his designee is hereby authorized to approve, upon or before the execution and delivery of the Installment Purchase Agreement, the rate of interest to accrue on the unpaid principal balance of the purchase price set forth hereinabove as the greater of 4.00% per annum or the per annum rate which is equal to the yield on United States Treasury STRIPS purchased by the City to fund such unpaid principal balance; provided, however, that such rate of interest shall not exceed 6.00% unless the approval of the City Council by resolution duly adopted is first obtained. 2. The City Council hereby further determines that funding is available for the acquisition of the Development Rights pursuant to the Installment Purchase Agreement on the terms and conditions set forth therein. 3. The City Council hereby expressly approves the Installment Purchase Agreement and, subject to the determination of the City Attorney that there are no defects 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 in title to the property or other restrictions or encumbrances thereon which may, in the opinion of the City Attorney, adversely affect the City's interests, authorizes the City Manager or his designee to execute and deliver the Installment Purchase Agreement in substantially the same form and substance as approved hereby with such minor modifications, insertions, completions or omissions which do not materially alter the purchase price or manner of payment, as the City Manager or his designee shall approve. The City Council further directs the City Clerk to affix the seal of the City to, and attest same on, the Installment Purchase Agreement. The City Council expressly authorizes the incurrence of the indebtedness represented by the issuance and delivery of the Installment Purchase Agreement. 4. The City Council hereby elects to issue the indebtedness under the Charter of the City rather than pursuant to the Public Finance Act of 1991 and hereby constitutes the indebtedness a contractual obligation bearing the full faith and credit of the City. 68 69 Adopted by the Council of the City of Virginia Beach, Virginia, on this 6th day of May , 2003. 70 71 Adoption requires an affirmative vote of a majority of all members of the City Council. CA-8827 arppurchase/seabay/seabayord, wpd R-1 April 7, 2003 APPROVED AS TO CONTENT- A~i'~ure ~ep-a ~~e nt APPROVED AS TO LEGAL SUFFICIENCY' La~7 De~partment APPROVED AS TO AVAILABILITY OF FUNDS' Finance Department AGRICULTURAL RESERVE PROGRAM INSTALLMENT PURCHASE AGREEMENT NO. 2003-57 SUMMARY OF MATERIAL TERMS SELLER: Sea Bay Development Corp. PROPERTY LOCATION: West Landing Road PURCHASE PRICE: $310,326 EASEMENT AREA: 62.59 acres more or less DEVELOPMENT POTENTIAL: 8 single-family dwelling sites (5 acquired; 3 reserved for future development) DURATION: Perpetual INTEREST RATE: Equal to yield on U.S. Treasury STRIPS acqmred by City to fund purchase price, but not less than 4.00% (actual rate to be determined when STRIPS are purchased prior to execution of IPA). Rate may not exceed 6.00% without approval of City Council. TERMS: Interest only twice per year for 25 years, with payment of principal due 25 years from IPA date RESTRICTIONS ON TRANSFER: IPA ownership may not be transferred (except for Estate Settlement Transfer) for one (1) year following execution and dehvery of IPA. Item V-K. 9. b/c. - 33 - RESOL UTIONS/ORDINANCES ITEM # 51141 Upon motion by Vtce Mayor Jones, seconded by Council Lady Wilson, Ctty Counctl ADOPTED: K9 Ordtnances to AUTHORIZE the acqutsttton of Agricultural Reserve Preservatton (ARP) easements and tssuance of contract obhgattons (DISTRICT 7 - PRINCESS ANNE) b. Sharon J. Sattler 29.46 Acres Installment Purchase Agreement No. 2003-56 $1o6,o56 c. Craig C and Susan L. Creamer 22.18Acres Installment Purchase Agreement No. 2003-55 $ 45,321 Votmg 10-1 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vice Mayor Louts R Jones, Rtchard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and dames L Wood Council Members Vottng Nay Reba S McClanan Counctl Members Absent None May 6, 2003 AN ORDINANCE AUTHORIZING THE ACQUISITION OF AN AGRICULTURAL LAND PRESERVATION EASEMENT AND THE ISSUANCE BY THE CITY OF ITS CONTRACT OBLIGATIONS IN THE MAXIMUM PRINCIPAL AMOUNT OF $106,056 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 WHEREAS, pursuant to the Agricultural Lands Preservation Ordinance (the "Ordinance"), Appendix J of the Code of the City of Virginia Beach, there has been presented to the City Council a request for approval of an Installment Purchase Agreement (the form and standard provisions of which have been previously approved by the City Council, a summary of the material terms of which is hereto attached, and a true copy of which is on file in the City Attorney's Office) for the acquisition of the Development Rights (as defined in the Installment Purchase Agreement) on certain property located in the City and more fully described in Exhibit B of the Installment Purchase Agreement for a purchase price of $106,056; and WHEREAS, the aforesaid Development Rights shall be acquired through the acquisition of a perpetual agricultural land preservation easement, as defined in, and in compliance with, the requirements of the Ordinance; and WHEREAS, the City Council has reviewed the proposed terms and conditions of the purchase as evidenced by the Installment Purchase Agreement; 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 1. The City Council hereby determines and finds that the proposed terms and conditions of the purchase of the Development Rights pursuant to the Installment Purchase Agreement, including the purchase price and manner of payment, are fair and reasonable and in furtherance of the purposes of the Ordinance, and the City Manager or his designee is hereby authorized to approve, upon or before the execution and delivery of the Installment Purchase Agreement, the rate of interest to accrue on the unpaid principal balance of the purchase price set forth hereinabove as the greater of 4.00% per annum or the per annum rate which is equal to the yield on United States Treasury STRIPS purchased by the City to fund such unpaid principal balance; provided, however, that such rate of interest shall not exceed 6.00% unless the approval of the City Council by resolution duly adopted is first obtained. 2. The City Council hereby further determines that funding is available for the acquisition of the Development Rights pursuant to the Installment Purchase Agreement on the terms and conditions set forth therein. 3. The City Council hereby expressly approves the Installment Purchase Agreement and, subject to the determination of the City Attorney that there are no defects 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 in title to the property or other restrictions or encumbrances thereon which may, in the opinion of the City Attorney, adversely affect the City's interests, authorizes the City Manager or his designee to execute and deliver the Installment Purchase Agreement in substantially the same form and substance as approved hereby with such minor modifications, insertions, completions or omissions which do not materially alter the purchase price or manner of payment, as the City Manager or his designee shall approve. The City Council further directs the City Clerk to affix the seal of the City to, and attest same on, the Installment Purchase Agreement. The City Council expressly authorizes the incurrence of the indebtedness represented by the issuance and delivery of the Installment Purchase Agreement. 4. The City Council hereby elects to issue the indebtedness under the Charter of the City rather than pursuant to the Public Finance Act of 1991 and hereby constitutes the indebtedness a contractual obligation bearing the full faith and credit of the City. 68 69 Adopted by the Council of the City of Virginia Beach, Virginia, on this6th day of May , 2003. 70 71 Adoption requires an affirmative vote of a majority of all members of the City Council. CA-8826 arppurchase/sattler/sattlerord.wpd R-1 April 7, 2003 APPROVED AS TO CONTENT: Agr i%u l~~e ' Depa rtmeI~ APPROVED AS TO LEGAL SUFFICIENCY- APPROVED AS TO AVAILABILITY OF FUNDS: Finance Department AGRICULTURAL RESERVE PROGRAM INSTALLMENT PURCHASE AGREEMENT NO. 2003-56 SUMMARY OF MATERIAL TERMS SELLER: Sharon J. Sattler PROPERTY LOCATION: 2794 West Gibbs Road PURCHASE PRICE: $106,056 EASEMENT AREA: 29.46 acres more or less DEVELOPMENT POTENTIAL: 3 single-family dwelhng sites (3 acquired) DURATION: Perpetual INTEREST RATE: Equal to yield on U.S. Treasury STRIPS acquired by C~ty to fund purchase price, but not less than 4.00% (actual rate to be determined when STRIPS are purchased prior to execution of lPA). Rate may not exceed 6.00% without approval of City Council. TERMS: Interest only twice per year for 25 years, with payment of principal due 25 years from IPA date RESTRICTIONS ON TRANSFER: IPA ownership may not be transferred (except for Estate Settlement Transfer) for one (1) year following execution and delivery of IPA. 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 AN ORDINANCE AUTHORIZING THE ACQUISITION OF AN AGRICULTURAL LAND PRESERVATION EASEMENT AND THE ISSUANCE BY THE CITY OF ITS CONTRACT OBLIGATIONS IN THE MAXIMUM PRINCIPAL AMOUNT OF $45,321 WHEREAS, pursuant to the Agricultural Lands Preservation Ordinance (the "Ordinance"), Appendix J of the Code of the City of Virginia Beach, there has been presented to the City Council a request for approval of an Installment Purchase Agreement (the form and standard provisions of which have been previously approved by the City Council, a summary of the material terms of which is hereto attached, and a true copy of which is on file in the City Attorney's Office) for the acquisition of the Development Rights (as defined in the Installment Purchase Agreement) on certain property located in the City and more fully described in Exhibit B of the Installment Purchase Agreement for a purchase price of $45,321; and WHEREAS, the aforesaid Development Rights shall be acquired through the acquisition of a perpetual agricultural land preservation easement, as defined in, and in compliance with, the requirements of the Ordinance; and WHEREAS, the City Council has reviewed the proposed terms and conditions of the purchase as evidenced by the Installment Purchase Agreement; 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: 1. The City Council hereby determines and finds that the proposed terms and conditions of the purchase of the Development Rights pursuant to the Installment Purchase Agreement, including the purchase price and manner of payment, are fair and reasonable and in furtherance of the purposes of the Ordinance, and the City Manager or his designee is hereby authorized to approve, upon or before the execution and delivery of the Installment Purchase Agreement, the rate of interest to accrue on the unpaid principal balance of the purchase price set forth hereinabove as the greater of 4.00% per annum or the per annum rate which is equal to the yield on United States Treasury STRIPS purchased by the City to fund such unpaid principal balance; provided, however, that such rate of interest shall not exceed 6.00% unless the approval of the City Council by resolution duly adopted is first obtained. 2. The City Council hereby further determines that funding is available for the acquisition of the Development Rights pursuant to the Installment Purchase Agreement on the terms and conditions set forth therein. 3. The City Council hereby expressly approves the Installment Purchase Agreement and, subject to the determination of the City Attorney that there are no defects 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 in title to the property or other restrictions or encumbrances thereon which may, in the opinion of the City Attorney, adversely affect the City's interests, authorizes the City Manager or his designee to execute and deliver the Installment Purchase Agreement in substantially the same form and substance as approved hereby with such minor modifications, insertions, completions or omissions which do not materially alter the purchase price or manner of payment, as the City Manager or his designee shall approve. The City Council further directs the City Clerk to affix the seal of the City to, and attest same on, the Installment Purchase Agreement. The City Council expressly authorizes the incurrence of the indebtedness represented by the issuance and delivery of the Installment Purchase Agreement. 4. The City Council hereby elects to issue the indebtedness under the Charter of the City rather than pursuant to the Public Finance Act of 1991 and hereby constitutes the indebtedness a contractual obligation bearing the full faith and credit of the City. 68 69 Adopted by the Council of the City of Virginia Beach, Virginia, on this 6th day of May , 2003. 70 71 Adoption requires an affirmative vote of a majority of all members of the City Council. CA-8825 arppurchase/creamer/creamerord.wpd R-1 April 7, 2003 APPROVED AS TO CONTENT' Ag r i CU~ e Departlnt APPROVED AS TO LEGAL SUFFICIENCY- Law _/D~epa~_~t/~// ,.~~~J APPROVED AS TO AVAILABILITY OF FUNDS: Finfi~e- Depgr-tment - - I AGRICULTURAL RESERVE PROGRAM INSTALLMENT PURCHASE AGREEMENT NO. 2003-55 SUMMARY OF MATERIAL TERMS SELLER: Craig C. and Susan L. Creamer PROPERTY LOCATION: 6421 Crags Causeway PURCHASE PRICE: $45,321 EASEMENT AREA: 22.18 acres more or less DEVELOPMENT POTENTIAL: 2 single-family dwelling sites (1 acquired, 1 reserved for future development) DURATION: Perpetual INTEREST RATE: Equal to yield on U.S. Treasury STRIPS acquired by City to fund purchase price, but not less than 4.00% (actual rate to be determined when STRIPS are purchased prior to execution oflPA). Rate may not exceed 6.00% without approval of City Council. TERMS: Interest only twice per year for 25 years, with payment of principal due 25 years from IPA date RESTRICTIONS ON TRANSFER: IPA ownership may not be transferred (except for Estate Settlement Transfer) for one (1) year following execution and delivery of IPA. 0 0 0 Item V-K. I O. - 34- RES OL U TIONS/ORD IN,4NCES ITEM # 51142 Upon motton by Vtce Mayor Jones, seconded by Councd Lady Wdson, C~ty Councd ,4DOPTED: Ordtnance to ,4 CCEPT and ,4PPROPRI,4 TEa $9,180 grant from the Norfolk Foundation for the Vtrgtnta Beach Pubhc Ltbrary re two onhne grant databases Voting 11-0 (By ConsenO Councd Members Voting Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Richard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vdlanueva, Rosemary Wdson and James L Wood Councd Members Vottng Nay None Councd Members Absent None May 6, 2003 10 11 12 13 AN ORDINANCE TO ACCEPT AND APPROPRIATE $9,180 FROM THE NORFOLK FOUNDATION TO THE FY 2002-03 OPERATING BUDGET OF THE DEPARTMENT OF PUBLIC LIBRARIES TO PROVIDE ACCESS TO ONLINE GRANT DATABASES BE IT ORDAINED BY THE COUNCIL OF THE CITY OF VIRGINIA BEACH, Virginia: That $9,180 is hereby accepted from the Norfolk Foundation and appropriated to the FY 2002-03 Operating Budget of the Department of Public Libraries for the purpose of providing expanded grant information to individuals and organizations in Southside Hampton Roads, with revenue increased accordingly. 14 15 Adopted by the Council of the City of Virginia Beach, Virginia on the ~ day of May , 2003. -- CA-8858 Ordin/Noncode/Libraries Grant.ord.wpd April 24, 2003 Ri Approved as to Content: Management Services Approved as to Legal Sufficiency: Law Departm~n~ The NORFOLK FOUNDATION GRANT AGREEMENT The grant to your organization from The Norfolk Foundation is for the explicit purposes(s) described below and is subject to your acceptance of the following cond~hons. To acknowledge th~s agreement and to accept the grant, PLEASE SIGN AND RETURN THE ORIGINAL AGREEMENT TO THE NORFOLK FOUNDATION. Grantee: Virginia Beach Public Library Grant No. 2002793 Amount of Grant: $9,180 Program or Project Title: To provide access to the Foundation Center and GrantSelect databases Grant Period Begins: 01/01/2003 Ends: 12/31/2003 Payment Schedule: December 2003 Special Conditions of the Grant: None Interim Report Due: None Final Report Due: 12/01/2003 Special Provisions: None All grants are made ~n accordance with current and applicable laws and pursuant to the Internal Revenue Code, as amended, and the regulahons ~ssued hereunder. Please read the following carefully: I. Announcing Grants The grantee agency ~s strongly encouraged to make public announcements about the project. The grantee is requested to acknowledge The Norfolk Foundation as grantmaker in all media communications, public announcements or printed materials concerning the project. -2- Copies of such communications and announcements, and of published references to the grant, should be sent to The Norfolk Foundation for its records. In addition, grants approved by The Norfolk Foundation's Board of Directors are reported to the community through The Norfolk Foundation's newsletter, annual report and periodic listing of grants. The Norfolk Foundation also issues press releases describing individual projects or programs. II. Expenditure of Funds This grant is to be used only for the purpose described above and in accordance with the approved budget. The program is subject to modification only with The Norfolk Foundation's prior written approval. fo The grantee shall return to The Norfolk Foundation any unexpended funds and any unpaid grant funds w~ll be rescinded: 1) At the end of the grant period, or 2) if The Norfolk Foundation determines that the grantee has not performed in accordance with this agreement and approved program/budget, or .... ~,,~ ,,t¢~ loses exempt "public J, ,,~ ~ul RevenueO-ede. B. No funds provided by The Norfolk Foundation may be used for any political campaign, or to support attempts to influence legislation by any governmental body, other than through making available the results of nonpadisan analysis, study and research. C. Unless specifically authorized by The Norfolk Foundation, expenses charged against this grant may not be incurred pnor to the effective date of the grant or subsequent to the termination date and may bedncurred only as necessary to carry out the purposes and activities of the approved program. D. The grantee organization is responsible for the expenditure of funds and for maintaining adequate supporting records consistent with generally accepted accounting practices. -3- III. Reports to The Norfolk Foundation Grantee organizations are expected to report to The Norfolk Foundahon on the progress of their program or project according to the schedule descnbed in this grant agreement. The final report must summanze the achievements of and lessons learned from the project and provde a financial accounting for the expenddure of grant funds. Reports will be considered late if received after the dates specified on page one of the Agreement. The hmeliness and quality of both the narrahve and financial sechons of progress reports will be factors in evaluahng the grantee for future funding. IV. Limit of Commitment Unless otherwise shpulated ~n writing, this grant ~s made with the understanding that The Norfolk Foundation has no obligation to provide other or add~honal support to the grantee. The Norfolk Foundation: hght ~/' DATE APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY'S 0F E~~, CITY OF VIRGINIA BEACH Grantee: Authonzed S~gnature Pnnt Name and Title Date G \Correspondence\Dec2002Agr doc Item V-K. 11. - 35- RESOL UTIONS/ORDINANCES ITEM ii 51143 Upon motion by Vice Mayor Jones, seconded by Councd Lady Wdson, City Council ADOPTED: Ordtnance to ACCEPT and APPROPRIATE a $50,000 grant from the Nattonal Ftsh and Wtldhfe Foundatton and to TRANSFER $33, O00 from the FY 2002-2003 Reserve for Contingency for a matchtng grant re Lynnhaven River Watershed Management Plan Vottng 11-0 (By ConsenO Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Council Members Absent None May 6, 2003 AN ORDINANCE TO ACCEPT AND APPROPRIATE A GRANT IN THE AMOUNT OF $50,000 FROM THE NATIONAL FISH AND WILDLIFE FOUNDATION AND TO TRANSFER $33,000 AS A GRANT MATCH FROM THE FISCAL YEAR 2002- 2003 RESERVE FOR CONTINGENCY FOR GRANT MATCHING. WHEREAS, the National Fish and Wildlife Foundation has 9 provided a $50,000 grant for the purpose of supporting the 10 development of a Lynnhaven River Watershed Management Plan, and 11 this grant requires a cash match of $33,000. 12 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF 13 THE CITY OF VIRGINIA BEACH, VIRGINIA: 14 15 1. That a $50,000 grant is hereby accepted from 16 the National Fish and Wildlife Foundation and appropriated 17 to the Department of Planning's FY 2002-03 Operating Budget 18 for Lynnhaven River Watershed Management Plan work, with 19 estimated federal revenue hereby increased by $50,000. 20 2. That $33,000 is hereby transferred from the 21 FY 2002-2003 Reserve for Contingencies for Grant Matching 22 to the Department of Planning's FY 2002-03 Operating Budget 23 for Lynnhaven River Watershed Management Plan work. 24 3. That a full time temporary Planning 25 Technician I position is hereby continued within the 26 Department of Planning using the funded provided herein to 27 fulfill the work of this grant. 28 29 30 Adopted by the Council of the City of Virginia 31 Beach, Virginia, on the 6th day of May , 2003. CA-8853 Noncode/Word/E?AGrant. ord. doc April 22, 2003 R3 A?PROVED AS TO CONTENT: Management Services APROVED AS TO LEGAL SUFFICIENCY: City Attorney Item V-K. 12. - 36- RES OL UTIONS/ORDINANCES ITEM # 51144 Upon motton by Vtce Mayor Jones, seconded by Councd Lady Wdson, Ctty Councd ADOPTED: Ordinance to APPROPRIATE $8, O00 from the Oyster Herttage Trust Fund to develop educattonal and tnformattonal materials re restoration of oysters tn the Lynnhaven River watershed Votmg 11-0 (By ConsenO Counctl Members Voting Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Richard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vdlanueva, Rosemary Wtlson and James L Wood Councd Members Voting Nay None Councd Members Absent None May 6, 2003 6 7 8 9 10 11 AN ORDINANCE TO APPROPRIATE $8,000 IN THE OYSTER HERITAGE TRUST FUND TO THE DEPARTMENT OF PLANNING'S FY 2002-2003 OPERATING BUDGET FOR DEVELOP ING E DUCAT I ONAL AND INFORMATION MATERIALS RELATED TO RES TORAT I ON OF OYSTERS IN THE LYNNHAVEN RIVER WATERSHED. WHEREAS, the City wishes to provide $8,000 from the ]2 Oyster Heritage Trust Fund to support developing educational ]3 and information materials related to restoration of oysters ]4 in the Lynnhaven River watershed. 15 NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE 16 CITY OF VIRGINIA BEACH, VIRGINIA: 17 That $8,000 is hereby appropriated from the Oyster 18 Heritage Trust Fund to the Department of Planning's FY 2002- ]9 2003 Operating Budget for restoring oysters to the Lynnhaven 20 River watershed, with revenue increased accordingly. 21 Adopted by the Council of the City of Virginia 22 Beach, Virginia, on the Sixth day of May , 2003. 23 CA-8854 ordin/noncode/Oyster.ord.wpd April 21, 2003 R3 APPROVED AS TO CONTENT: Management Services APPROVED AS TO LEGAL SUFFICIENCY: Law Departme~ Item V-K. 13. -37- RES OL UTIONS/ORDINANCES ITEM # 51145 Upon motton by Vtce Mayor Jones, seconded by Councd Lady Wtlson, Ctty Councd ADOPTED, AS RE VISED: Ordtnance to AUTHORIZE acquisttton of property tn fee stmple for replacement of the extsttng Timberlake-Foxwood pump statton, PS#59 Votmg 11-0 (By ConsenO Counctl Members Voting Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Richard A Maddox, Mayor Meyera E Oberndorf, Jim Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Voting Nay None Counctl Members Absent None May 6, 2003 AN ORDINANCE TO AUTHORIZE ACQUISITION OF PROPERTY IN FEE SIMPLE FOR TIMBERLAKE-FOXWOOD PUMP STATION SITE (CIP- 6-066), EITHER BY AGREEMENT OR CONDEMNATION, WHEREAS, in the opinion of the Council of the City of Virginia Beach, Virginia, a public necessity exists for the construction of this important water and sanitary sewer project to provide needed improvements to the City's water and sanitary sewer systems and for other public purposes including the preservation of the safety, health, comfort, and convenience, and for the general welfare of the people in the City of Virginia Beach: NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF VIRGINIA BEACH, VIRGINIA: Section 1. That the City Council authorizes the acquisition by purchase or condemnation pursuant to Sections 15.2-1901, et seq., Code of Virginia of 1950, as amended, of all that certain real property in fee simple, (the "Property") as may be necessary to construct the project and shown on the plans for the project (the "Plans"), and as are more specifically described on the acquisition plat for the project (the "Plat"), and the Plans and Plat being on file in the Engineering Division, Department of Public Utilities, City of Virginia Beach, Virginia. Such acquisition will be made only after compliance with Administrative Directive 3.14 for "Public Input for Public Infrastructure Projects Undertaken in the City." Section 2. That the City Manager is hereby authorized to make or cause to be made on behalf of the City of Virginia Beach, to the extent that funds are available, a reasonable offer to the owners or persons having an interest in the Property. If refused, the City Attorney is hereby authorized to institute proceedings to condemn the Property. Adopted by the Council of the City of Virginia Beach, Virginia, on the ~ May ,2003 Page 1 of 2 6th dayof APPROVED AS TO CONTENTS DEPARTMENT APPROVED AS TO LEGAL SUFFICIENCY AND FORM Page 2 of 2 - 38- Item V-L. 1. APPOINTMENTS ITEM # 51146 BY CONSENSUS, Ctty Counctl RESCHEDULED the followtng APPOINTMENTS: EASTERN VIRGINIA MEDICAL SCHOOL (EVMS) FRANCIS LAND HOUSE BOARD OF GOVERNORS YOUTH SER VICES COORDINA TING COUNCIL May 6, 2003 - 39- Item V-L.Z APPOINTMENTS ITEM it 51147 Upon NOMINATION by Vtce Mayor Jones, Ctty Council APPOINTED: John M. Nowland (Centerville) Unexpired thru 8/31/03 plus 3years to 8/13/06 PARKS AND RECREATION COMMISSION Voting 11-0 Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Richard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Voting Nay None Counctl Members Absent None May 6, 2003 - 40- Item V-L. 3. APPOINTMENTS ITEM ii 51148 Upon NOMINATION by Vice Mayor Jones, Ctty Counctl APPOINTED: Rosemary Wilson Unexpired thru 3/31/04 PLANNING COUNCIL Vottng l l-O Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wilson and James L Wood Council Members Voting Nay None Counctl Members Absent None May 6, 2003 ~ 41 - Item V-L. 4. APPOINTMENTS ITEM # 51148 Upon NOMINATION by Counctlman Wood, Ctty Counctl APPOINTED: Carol N. Hare Unexpired thru 12/31/04 VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORA TION (VBCDC) Vottng 11-O Counctl Members Vottng Aye Harry E Dtezel Margaret L Eure, Vtce Mayor Louts R Jones, Reba S McClanan, Rtchard A Maddox, Mayor Meyera E Oberndorf, Jtm Reeve, Peter W Schmtdt, Ron A Vtllanueva, Rosemary Wtlson and James L Wood Counctl Members Vottng Nay None Counctl Members Absent None May 6, 2003 - 42 - Item V-N. ADJOURNMENT ITEM # 51149 Mayor Meyera E Oberndorf DECLARED the Ctty Counctl Meettng ADJOURNED at 6:20 P.M. Beverly O- Hooks, CMC Chief Deputy Ctty Clerk C~ty Clerk Meyera E Oberndorf Mayor Ctty of Vtrgtma Beach Vtrgtnta May 6, 2003