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R-00-62 <br /> <br />A RESOLUTION FOR A COOPERATION AGREEMENT WITH THE INDUSTRIAL <br />DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA, <br />RELATED TO THE DEVELOPMENT AND OPERATION OF A YACHTING CENTER <br />ON THE DOWNTOWN PORTSMOUTH WATERFRONT. <br /> <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia (the "City"): <br /> <br /> 1. That the City Manager is authorized, for and on behalf of the City, to execute and <br />deliver a Cooperation Agreement with the Industrial Development Authority of the City of <br />Portsmouth related to the development and operation of a yachting center on the downtown <br />Portsmouth waterfront, commonly known as the Ocean Marine project. <br /> <br /> 2. The City Manager is further authorized to give such further assurances and take such <br />additional actions required in order to effectuate the intent of the Cooperation Agreement. <br /> <br /> 3. The Cooperation Agreement shall be substantially in the form attached to this <br />resolution, and made a part hereof. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />November 28, 2000. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />