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R-96-4 A RESOLUTION SUPPORTING THE USE OF TOLLS FOR THE PINNERS POINT CONNECTOR. WHEREAS, the proposed Pinners Point Connector (the "Connector") was introduced to the Regional Transportation Plan in 1965, and has been a high priority for a number of years; and WHEREAS, the Pinners Point Connector will provide a vital intermodal transportation connector among the Western Freeway, the Midtown Tunnel and the Martin Luther King Freeway; and WHEREAS, the Connector is the number one priority of the Hampton Roads Metropolitan Planning Organization; and WHEREAS, the City of Portsmouth, in recognition of the regional significance to the local economy, is dedicating a portion of its urban allocations toward financing the Connector; and WHEREAS, the Virginia Department of Transportation, in cooperation with the City of Portsmouth, City of Norfolk and Hampton Roads MPO, have jointly identified a number of funding sources; and WHEREAS, the funding required to complete the financing of the Connector can be provided by the Commonwealth Transportation Board from the Toll Facilities Revolving Account; and WHEREAS, the Virginia Department of Transportation advises that the toll Facilities Revolving Account is the only predictable option to close the funding gap; and WHEREAS, it is acknowledged that funds allocated from the Toll Facilities Revolving Account are advance funding provided for a toll facility which shall be reimbursed from toll revenues; and WHEREAS, the City of Portsmouth understands that the connector must be a toll facility to repay the loan from the toll Facilities revolving Account. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City of Portsmouth supports the Commonwealth Transportation Board's allocation of Toll Facilities Revolving Account funds to complete financing of the Pinners Point Connector; and BE IT FURTHER RESOLVED, that the City of Portsmouth,