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86 <br /> <br />A RESOLUTION CONVEYING CITY-O~fNED PROPERTY TO THE PORTSMOUTH <br />INDUSTRIAL DEVELOPMENT AUTHORITY; AUTHORIZING THE CITY MANAGER <br />TO EXECUTE DEED. <br /> <br /> WHEREAS, the City of Portsmouth owns certain herein- <br />after described real property located on the ~-est side of <br />Laigh Road in the Hattonsville Industrial Development area; <br />and <br /> <br /> WHEREAS, said property is no longer required for the <br />needs of the City and is, hereby, declared to be excess <br />property; and <br /> <br /> W~EREAS, the Portsmouth Industrial Development Authority <br />has proposed to purchase said property for the assessed value <br />thereof of Twelve Thousand, One Hundred Eight-Seven Dollars <br />and Fifty Cents ($12,187.50) for the purpose of consolidation <br />with other property in the area for industrial development; <br />and <br /> <br /> WHEREAS, the Council of the City of Portsmouth, Virginia, <br />hereby deems said transfer of property to be in the best in- <br />terest of the City; and <br /> <br /> WHEREAS, pursuant to Section 2.09(c) of the Charter of <br />the City of Portsmouth real property may be conveyed to the <br />Commonwealth of Virginia or a political subdivision thereof <br />without advertisement and receipt of bids; and <br /> <br /> WHEREAS, the Portsmouth Industrial Development Authority <br />is a political subdivision of the Commonwealth of Virginia. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the following described <br />property be conveyed to the Portsmouth Industrial Develop- <br />ment Authority for the sum of Twelve Thousand, One Hundred <br />Eighty-Seven Dollars and Fifty Cents ($12,187.50), to-wit: <br /> <br /> Ail that certain piece or parcel of land, <br />situate, lying and being in the City of Ports- <br />mguth, Virginia, bounded and described as follows: <br /> <br /> Beginning at a point on the western bo'~ndary <br />of Laigh Road, said point being S 33° 10" 02" east <br />175' from the southwestern intersection of Laigh <br />Road and Baltard Avenue; thence continuing along <br />the western boundary of Laigh Ro&d S 33° 10' 02" <br />east 125' to a point; thence S 56° 58' 58" west <br />250' to a point; thence N 33° 10' 02" west 125' <br />to a point; thence N 56~ 58' 58" east 250' to the <br />point of beginning° <br /> <br /> <br />