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R-97-17 <br /> <br />A RESOLUTION APPROVING, IN CONCEPT, A DRAFT MEMORANDUM OF <br />INTENT, COST ALLOCATION AGREEMENT, AND BY-LAWS OF THE NEW <br />HAMPTON ROADS TRANSPORTATION DISTRICT COMMISSION AND <br />AUTHORIZING THE CITY MANAGER TO DESIGNATE A REPRESENTATIVE TO <br />PARTICIPATE IN A REVIEW OF FINANCIAL POLICIES AND MANAGEMENT <br />PRACTICES OF THE EXISTING TRANSPORTATION DISTRICT COMMISSIONS. <br /> <br /> WHEREAS, the Tidewater Transportation District Commission <br />(TTDC) has presented to each of the City Councils in the <br />District a draft proposal to consolidate the TTDC with the <br />Peninsula Transportation District Commission (PTDC) to form the <br />Hampton Roads Transportation District Commission (HRTDC); and <br /> <br /> WHEREAS, the proposal contains a Memorandum of Intent <br />(MOI), a draft Cost Allocation Agreement (CAA) and By-Laws <br />which have been reviewed by the Council of the City of <br />Portsmouth, Virginia; and <br /> <br /> WHEREAS, the TTDC has requested that the City Council <br />approve in concept the aforementioned draft proposals; and <br /> <br /> WHEREAS, the TTDC has also requested that the City Council <br />designate a representative of the City of Portsmouth to <br />participate in a review of the financial policies and <br />management practices of the TTDC and PTDC, and to formulate a <br />final draft of the aforementioned proposals for the HRTDC. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City <br />of Portsmouth, Virginia that approval in principle is hereby <br />given to the draft MOI, CAA and By-Laws for the formation of <br />the HRTDC. <br /> <br /> BE IT FURTHER RESOLVED that the Council of the City of <br />Portsmouth, Virginia does hereby authorize the City Manager to <br />designate the representative of the City to participate in the <br />review of the financial policies and managemenn practices of <br />the TTDC and PTDC and to formulate the final draft of the MOI, <br />CAA and By-Laws which will be submitted to each of the City <br />Councils within the proposed HRTDC for their review and <br />approval. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia <br />at a meeting held on March 25, 1997. <br /> <br /> Teste: <br /> <br /> <br /> City Clerk <br /> <br /> <br />