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A RESCIAFfION AU]N/ORIZING THE CITY MANAGER TO ACLm~'~ ~ PROPOSAL FOR 'l~l~ EXCHANGE OF ~ CITY-OWNSD PROPERTY (Hq WAVERLY BOULEVARD, PO~40UTH, VIRGINIA; AUTHORIZING THE CITY MANAGER TO CONVEY SAID CITY-OWNED PROPERTY. WHEREAS, by Resolution adopted by the Council of the City of Ports- mouth on May 31, 1977, the City Mmnager advertised and received bids for the sale or exchange of cer*~u hereinafter-described City-owned pro- party; and WHEREAS, Mrs. Fanny R. Lee b~s proposed that the hereinafter- described City-c~ned property be exchanged for adjacent property owned by Mrs. Lee; and WHEREAS, said exchange of property would permit the City to cuL~lete certain plans for development of parks and parking lot in the Olde Towne area of the City of Portsmouth. NOW, ~HEREFORE, BE IT RESOLVED by the Council of the City of Ports- mouth, Virginia, that tb~ City Manager be, and he hereby is, authorized to accep~t the proposal of Fanny R. Lee to exchange property for the hereinafter-described City-owned property: All that cere~u piece or parcel of land situate, lying and being in the City of Portsmouth, Virginia, bounded and described as follows: BegLnning at a point on the southern boundary of Waverly Boulevard; said point beir~ N86°57'54" east 142.60 feet frc~ the southeast intersection of Waverly Boulevard ~d Dinwi~8~e Street; thence from said point contin~ng N86°57'54" east 6.90 feet to a point; thence south 0.3o32' 42" east 127.35 feet to a point; thence N86°57'54'' east 6.90 feet to a point; thence N03°32' 42" west 127.35 feet to the Point of Beginning. BE IT Ft~vw~R RESOLVED that the City Manager be, and he hereby is, authorized to cu~K~lete all transactions and execute ~11 documents incident to the co~¢eyance of thi~ property. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held June 28, 1977. City Clerk