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48 <br /> <br />A RESOLUTION AUTHORIZING T~E CONVEYANCE OF CERTAIN SURPLUS CITY <br />PROPERTY IN THE ~ATTONSVILLE AREA OF THE CITY TO THE INDUSTRIAL <br />DEVELOPMENT AUTHORITY, AND AUTHORIZING THE CITY 5~ANAGER TO EXE- <br />CUTE A DEED OF CONVEYANCE FOR THE SAME. <br /> <br />parcel of <br /> <br /> WHEREAS <br />use of the City of <br />plus property; and <br /> <br />WHEREAS,. the City of Portsmouth currently owns a certain <br />land located as her~inafte~ described; and <br /> <br />said land is no longer needed for the public <br />Portsmouth and has been declared to be sur- <br /> <br /> WHEREAS, the Industrial Development Authority of the <br />City requires such land to further its aims and purposes of en- <br />couraging industrial development within the City and has offer- <br />ed to pay a consideration of $4~000.00 per acre. <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouthf Virginia, that the following described parcel <br />of land. shall be conveyed to the Industrial Development Authority <br />of the City of Portsmouth for a consideration of $4,000.00 per <br />acre, such parcel of land being more particularly described as <br />follows: <br /> Ail that certain tract~ piece or parcel of land, with <br /> the appurtenances thereunto belonging, situate, lying and being <br /> in the City of Portsmouth, Virginia, more particularly bounded <br /> and described as follows, to-wit: BEGINNING at the point of <br /> intersection of the Southern right of way line of Seaboard Coast <br /> Line Railroad Company and the Eastern right of way line of Elm- <br /> burst Lane Extended, as is shown on a certain plat entitled: <br /> "Proposed Property Acquisition for Extension of Elmhurst Lane <br /> from George T~ McLean co., Inco"~ dated March 20, 1973, m~de <br /> by Department of Engineering of the City of Portsmouth; thence <br /> from said point of beginning running North 57~ East 410.33 feet, <br /> more or less, to the Northwestern corner of the property now or <br /> formerly owned by Harry L~ Boone, Sro, said point being establish- <br /> ed by a boundary line agreement between the City of Portsmouth and <br /> Harry L. Boone, Srw, and wife, of record in the Clerk's Office of <br /> the Circuit Court of the City of Portsmouth, Virginia, in Deed <br /> Book 570, at page 369; thence running South 53~52~ East 460.8 feet <br /> to a point in the Northern boundary line of the property now or <br /> formerly owned by Terminal Warehouse Corporation~ said point be- <br /> ing on the Southern right of way line of Rowley Street~ thence <br /> running South 57" West 105.67 feet to the Northwest corner of <br /> the property now or formerly owned by Terminal Warehouse Corp.; <br /> thence running along the Western boundary line of the said Terminal <br /> <br /> <br />