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2 <br /> <br />A RESOLUTIOL AUTHORIZING Tile z~ _ ~ ~ ~ .. <br />=.~.. ~ ~ ~Y /~AGER TO A~C~P~ ThE BID OF <br />~Pd~I~AL WAREHOUSE ~D ~ ~ ~ <br /> CO~,. O~zIO~ TO PURCi~XSE ~RTAI~ C~TY-OYA~ED <br />PROPERTY [R~IDUAL PARCEL OF E~[HURST LAiJE ~z,~ ~ <br /> <br /> WheREAS, the Councll of the Citv of Portsmouth, Vir- <br />ginia <br /> , has ~etermmnea that certaln proper~y, hereinafter des- <br />purposes;Cribed' iSandSUrplus ~DroDerty_ and no longer recuired_ for City <br /> <br /> ?~iEREAS, the Council has, by its resolution of Decem- <br /> ber 18, 1973 a ~ ' · <br /> u~norlzed the Ci~ ~ <br /> ' ~Y -.~ana~er no ~dvertise this <br /> property for sale uoon certain terms and c <br /> - ond~lons; and <br /> WHEREAS, the City Manager has caused the said property <br /> to be advertised in accordance with the ~ ~ . <br /> sa~a ~uthorlzatmon; and <br /> WHE~s, Terminal Warehouse C ~ <br /> a bid in response to ' ~ . . o~poratlon has submitted <br /> - said a~vermlsement; and <br /> <br /> . ~P~REAS, the Council finds after ~ · - <br /> , uue consideration, <br /> that the bid of Terminal Warehouse Corporation complies futiv <br /> with the =erms of the City's advertisement and <br /> - mna= ~he D!d is <br /> the highest o~ all bids received and will permit the disposi- <br /> tion of the property on terms most favorable to the City. <br /> <br /> l~O~, TnERnFOR£, BE RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the City Manager be~ and he <br />hereby is directed to accept the bid of Terminal Warehouse <br />Corporation for the hereinafter ~ - · <br /> ~eocrlbed property. <br /> <br /> Ail that certain lot, piece or parcel of <br /> land, situa=e in the City of Portsmouth, Vir- <br /> ginia, comprisin~ 0.113 acres, more or less, <br /> bounded and described as follows: <br /> <br /> Beginning at the existing intersection of <br /> the northwest right of way of Ponderosa Street <br /> and Elm~urs~ Lane (formerly Spivey Street); <br /> thence South 64~11,18,, along the existing <br /> northern right of way of Elmhurst Lane a dis- <br /> tance of 10.59' to the TRUE POINT.OF BEGINNING <br /> on the proposed western right of way of Ponderosa <br /> Streeu; thence Sou~n 44~57,11,~ East along the <br /> proposed western right of way of POnderosa Street, <br /> a distance of 7.43' to the proposed northern right <br /> of way of Elm~urst Lane (formerly Spivey Street); <br /> thence South 57o13,27" Wesm along the proposed <br /> <br /> <br />