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64 <br /> <br />A RESOLUTION AUTHORIZING TEE C~TY ~;~NAGER TO ENTER INTO A <br />MEMORANDUM OF INTENT BET~ ~qE CiTY OF PORTSMOUTH AND THE <br />VIRGINIA PORT AUTHORITY. <br /> <br /> WHEREAS, the City of Portsmouth and the Virginia Port <br />Authority have agreed to %he exchange of certain properties <br />necessary to the further development of the Port area and the <br />City sewage'treatment plant; and <br /> <br /> WHEREAS~ the City of Portsmouth has agreed to the desig- <br />nation of certain property for expansion of the Port Terminal <br />Area for private and public development upon certain conditions <br />relating to the payment of taxes; and <br /> <br /> WHER~AS~ the Virginia Port Authority has agreed to make <br />payment of certain a~ounts due~ or to become due, pursuant to <br />the Port Unification Contrac~ between the City of Portsmouth <br />and the Virginia Port Authority; and <br /> <br /> WHERF~AS~ the Virginia Port Authority has agreed to re- <br />solve certain legal dis~u~es as set forth in the Declaratory <br />Judgment action brought by the Virginia Port Authority per- <br />taining to certain street closures. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br /> City of Portsmouth, Virginia, that the City Manager be, and <br /> he hereby is, authorized to enter into a Memorandum of Intent <br /> between the City or-Portsmouth and the Virginia Port Authorit~ <br /> and to execute any and all documents necessary and advisable <br />to carry out the provisions thereof. <br /> <br /> Adopted-by the Council of the City of Portsmouth, Virginia, <br />at a meeting held August 23, 1983. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />