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AN ORDINANCE CEEATI~ ~HE PORT~OUi~H TAX STUDY CO~t'~iISSION, PROVIDING FOR ~ APPOIE~i~I'i~ OF A~© PRESCRIBING ~.~. ~mI~¢S OF O~I~'ICE OF ~EE ~I~BERS OF SAID CO~¢'.~ISSION, PROVIDING FOE THE ~iLLING O~ VACanCIES ON SAID CO'left'SION, FOR THE CC~,~mNSATION OF SAID ,~.~EES, FOR THE ORG~fI- ZATION OF SAID CO~ISSION, A~ PRESCRIBING TTUE DIFTIES ~F SAID CO~ILSSION. Be it ordained by the Council of the City of Portsmouth, Virginia: PORTSMOU~H TAX STO]3Y Sec. '1. Portsmouth Tax Study Cammission - creation, composition. There is h$reby created a cmm~ission to be kno%.m as the Porsamouth Tax Study Cmmuission wkich shall consist of seven mambers. The mambers of the cmmmission shall be residents of the city. 5~ne cammission members shall be appointed by the council. Of those so appointed, two shall be employees of the city and five shall be private citizens. Sec, 2. Same - Terms of members; oath; vacancies; compensation. The terms of the members shall begin on Februar~y i, '1967, and shall expire upon suh~ission of the cawmission's final report to the council unless othem~ise extended by resolution of the council. Ail vadancies shall be filled by appointment by the council for the rama~nder of the unexpired term. Ail members of tine board shall serve as such without compensation. ~' Sec. 3. Same - Organization; quorum. Tne members of the Port~mouth Tax Study Cammission shall, immediately after their election and qualification, ._meet ar~ organize They shall elect a chaiman, a vice-chaiman and sucn other officers thereof, if any, as they may ,~eam necessary. A majority of the mambers of the board shall constitur~ a quorum for the transaction of business. Sec. ~. Same - Duties. It shall be the duty of ~]e cmmmission to study the financial condition of the city, possible sources of revenue, the taxes levied by the city and the methods of collecting revenue, and to make~red~muendationS with respect 5o tax policy 'to be followed so as ~o provide a~n equitable distribution of ~ne tax burden. Uponccmpletion of such ssudy, the com- mission shall report the results the~of in~ritir~ to the council, 5o- gether with its recaumendations .~th respect thereto~ar~ with respect to the policies v£nich should be ad~oted in the imposition of 5axes and raising revenue for the operation of the city goverrn~ent. Adopted by the Council of the City of Portsmouth., Vi~gini%a~ a meeting held December 27, 1966. Teste: City Clerk