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2O A RESOLUTION CONCURRING WITH AND CONSENTING TO THE ISSUANCE BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF NORFOLK, VIRGINIA, OF ITS 1981 INDUSTRIAL DEVELOPMENT REVENUE BONDS (HENRY LAUREL CO., INC. FACILITY) IN THE PRINCIPAL AMOUNT OF $600,000. W~EP~AS, on July 23, 1981, the Industrial Development Authority of the City of Norfolk, Virginia, adopted an inducement resolution whereby it agreed to use its best efforts to issue its bonds in the principal amount of Six Hundred Thousand ($600,O00) Dollars to finance the acquisition of certain real property at 330 County Street in the City of Portsmouth, Virgin!a, by Henr!r~aurel Co., Inc. %o be leased to J. J. Henry Co., Inc. for use as a regional headquarters office building; and W~EREAS, ~15.1-!378 of the Code of Virginia~ 1950, as amended, requires the governing body of the City in which the facility is located that is being financed by an Industrial Development Authority of another city to concur in such financing. NOW, THEREFORE~ BE IT RESOLVED by the Council o~ the City of Portsmouth, Virginia, that it concurs with and consents to the issuance by the Industrial Development Authority of the City of Norfolk, Virginia, of its 1981 Industrial Development Revenue Bonds (Henry Laurel Co., Inc. Facility) in the principal amount of Six Hundred Thousand ($600,000) Dollars, the proceeds of which will be used to finance the acquisition of real property located at 330 County Street in the City of Portsmouth, Virginia, to be leased to J. J. Henry Co.~ Inc. for use as a regional headquarters office building. BE IT FURTHER RESOLVED that the City Clerk be, and she hereby is, directed to forward a copy of this resolution to the Industrial Development Authority of the City of Norfolk Virginia. Adopted by the Council of the City of Por5smouth, Virginia, at a meeting held March 9, 1982. Teste: City Clerk