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A RESOLUTION AUTHORIZING Tk~ VIRGINIA PORT AUTHORITY TO EXPEND <br />$10,6OO. FOR THE AUTHOR!TY'S PORTION OF A LAND-USE STUDY OF <br />THE PINNERS POINT PENINSULA TO HE CONDUCTED BY A PROFESSIONAL <br />CONSULTING FI~4 ENGAGED ON BEHALF OF THE CITY OF PORTSMOUTH, <br />PORTSMOUTH PORT AND INDUSTRIAL CO~4ISSION AND THE AUTHORITY. <br /> <br /> WHEREAS, the Virginia Port Authority request3author- <br />ization from the Portsmouth City Council to expend Ten Thousand <br />Six Hundred ($10,600.) Dollars as the Authority's portion of <br />a land-use study of the Pinners Point Peninsula; and <br /> <br /> WHEREAS, the Virginia Port Authority is required <br />by the Port Unification Agreement to obtain consent from City <br />Council before making such expenditures; and <br /> <br />from <br />and <br /> <br /> WHEREAS, the expenditure to be made will be funded <br />surplus revenue generated by the Portsmouth Marine Terminal; <br /> <br /> ?~{EREAS, Portsmouth City Council after duly considering <br />the contemplated expenditures, is of the opinion that such ex- <br />penditures are necessary and prudent investments. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virg~nla, that it authorizes the expenditure <br />of Ten Thousand Six Hundred ($10,6OO.) Dollars as the Authority's <br />portion of a land-use study of the Pinners Point Peninsula to <br />be conducted by a professional consulting firm engaged on behalf <br />of the City of Portsmouth, the Portsmouth Port and Indus%rial <br />Commission and the Virginia Port Authority. <br /> <br /> Such expenditure is as contemplated by the Virginia <br />Port Authority Resolution 1975-41 of April 16, 1975. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held May 27, 1975. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />