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61 <br /> <br />A RESOLUTION OF THE COUNCIL OF THE CITY OF PORTSMOUTH, <br />VIRGINIA EXPRESSING ITS SUPPORT OF THE REMOVAL OF SANCTIONS <br />AGAINST THE REPUBLIC OF SOUTH AFRICA GIVEN THE DISCONTINUANCE <br />OF APARTHEID IN THAT COUNTRY. <br /> <br /> WHEREAS, the Council of the City of Portsmouth, Virginia <br />by Resolution adopted on October 8, 1985 expressed its support <br />for sanctions against the Republic of South Africa for its <br />then practice of apartheid in the country; and <br /> <br /> WHEREAS, this Council is dedicated to the democratic <br />right of ma2ority rule and the promotion of the basic <br />principles of human rights for all people, and encouraged by <br />that Republic's discontinuance of aoartheid and its embracing <br />the practice of general elections. <br /> <br /> W~EREAS, this Council believes thau American corporaue <br />and financial investments in South Africa will greatly <br />surengthen their economy and thus help democracy flourish. <br /> <br /> NOW THEREFORE, BE IT RESOLVED by the Council of the City ~ <br />of Portsmouth, Virginia, that it hereby urges the Board of <br />Trustees of the Portsmouth Supplemenual Retirement Sysuem and <br />the Portsmouth Fire and Police Retirement Sysuem to no longer <br />rejecu ~nvestment of funds under their control (1) in entities <br />uhat maintain their principal headquaruers or consider their <br />principal market within the geographical or pclitical <br />boundaries of the Republic of South Africa; or (2) in entities <br />which do business within the geographical or political <br />boundaries of the Republic of South Africa and that are <br />signatories uo the Sullivan Principles and have made <br />demonstrated progress in the implementation of the princzples <br />or are endorsers of the Sullivan Principles and meeu uheir basic <br />requirements. <br /> <br /> IT IS FURTHER RESOLVED that Council's Resolution of <br />October 8, 1985, be repealed. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virgmnma, at a meeting held on November 9, 1993. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />