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WHEREAS, the state's distribution of Alcoholic Beverage Control <br /> <br />Board profits to the cities, towns aud Counties has heretobefore been <br /> <br />made on an annual basis; and <br /> <br /> WHEREAS, distribution of these funds on a quarterly basis would <br /> <br />permit balancing of the current budget for the City of Portsmouth and <br /> <br />reduce the amount of money which the City of Portsmouth is required to <br /> <br />borrow in anticipation of revenue from time to time to meet operating <br /> <br />expenses; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ports- <br /> <br />mouth, Virginia, that the Commonwealth of Virginia is respectfully re- <br /> <br />quested to distribute to the cities, towns and counties their proportionate <br /> <br />share of profits from operation of the Alcoholic Beverage Control Board <br /> <br />on a quarterly basis and that this method of distribution be commenced at <br /> <br />an early date. <br /> <br /> BE IT FURTHER RESOLVED that the Clerk of the Council is instructed <br /> <br />to forward a certified copy of these resolutions to the State Treasurer. <br /> <br />