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106 <br /> <br />A RESOLUTION AMENDING, BY THE JOINT ACTION OF THE <br />COUNCILS OF THE CITIES OF HAMPTON, NEWPORT NEWS, <br />PORTSMOUTH, NORFOLK, VIRGINIA BEACH, CHESAPEAKE A~D_ <br />SUFFOLK, VIRGINIA, AND THE BOARD OF SUPERVISORS OF ISLE <br />OF WIGHT COUNTY, VIRGINIA, THE ARTICLES OF INCORPORATION <br />OF THE SPORTS AUTHORITY OF HAMPTON ROADS, VIRGINIA. <br /> <br /> WHEREAS, by concurrent action of the Cities of <br />Hampton, Newport News, Portsmouth, Norfolk, Virginia <br />Beach, Chesapeake, and Suffolk, and the County of Isle <br />of Wight (collectively, the "Participating Political <br />Subdivisions"), the Sports Authority of Hampton Roads, <br />Virginia (the "Authority") was created on May 27, 1986; <br />and <br /> <br /> WHEREAS, the participating Political Subdivisions <br />desire to amend the Articles of Incorporation of the <br />Authority to provide, as permitted by ~t5.1-1275 (a) of <br />the Code of Virginia, 1950, as amended, a specific term <br />of existence for the Authority; and <br /> <br /> WHEREAS, a public hearing has been held <br />respect to the amendment to the Articles of <br />Incorporation of th~ Authority. <br /> <br />with <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of <br />the City of Portsmouth, Virginia: <br /> <br /> 1. That it does hereby approve the foregoing <br />recitals which are deemed to be incorporated herein as <br />part of this resolution as if fully set forth herein. <br /> <br /> 2. That it does hereby amend, currently with the <br />cities of Hampton?Newport New~, Norfolk, Virginia <br />Beach, Chesapeake and Suffolk and the County of Isle of <br />Wight, the Articles of Incorporation of the Authority <br />adding the following provisions as an additional <br />Paragraph 6: <br /> <br />"Paragraph 6. Unless sooner dissolved in <br />acccrdance with the. provisions of Section <br />15.1-1286.1 of the Code of Virginia, 1950, <br />as amended, the Authority shall be dissolved <br />on December 31, 2090; provided, however, in <br />the event there are any outstanding obligations <br />of the Authority on such date, the Authority <br />shall be dissolved on the date on which the <br />last of such outstanding obligations shall <br />have been fully paid or discharged." <br /> <br /> 3. Except <br />Incorporation of <br />force and effect. <br /> <br />as herein amended, the Articles of <br />the Authority shall remain in full <br /> <br />by <br /> <br /> <br />