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74 A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY CERTAIN CITY-OWNED PROPERTY TO THE PORTSI~OUTH INDUSTRIAL DEVELOPMENT AUTHORITY (PONDEROSA STREET)~ WHEREAS~ the City of Portsmouth owr~s certain hereinafter described property on Ponderosa Street in the Hattonsville Industrial area~ and WHEREAS~ negotiations have developed for the sale and development of said property and in accordance with the industrial development of the area; and WHEREAS~ the Portsmouth Industrial Development Authority is a political subdivision of the Commonwealth of Virginia; WHEREAS~ Section 2.O9[c) of the Charter of the City of Portsmouth, Virginia, 1973, provides that the City of Portsmouth may convey real property to the Commonwealth of Virginia or political subdivision thereof~ without advertising or receivln9 bids therefor. ~ NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth~ Virginia, that the City Manager be, and he hereby is~ authorized to convey the following described property to the Portsmouth Industrial Development Authority: PARCEL I Ail that certain tract, piece or parcel of land, containing 1.355 acres, having been conveyed to the City of Portsmouth by deed dated March 28, 1962 from Tarra Corporation, recorded in the Clerk's Office of the Circuit Court of the City of Portsmouth~ Virginia, in Deed Book 3~1, Page 569~ PARCEL II All that certain tract, piece or parcel of land, conta-ining 1.88 acres, more or less, having been conveyed to the City of Ports- mouth by Order dated July 20, 1962 recorded in the aforesaid Clerk's Office in Deed Book 381, Page 610. PARCEL III Ail that certain tract, piece or parcel of land, containing 6,000 square feet of land, more or less, conveyed to the City of Ports- mouth, Virginia, by deed dated ~arch 28, 1962, from Tarfa ~orporation, recorded in the afore- said Clerk's Office in Deed Book 381, Page 571.