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<br />. <br /> <br />. <br /> <br />. <br /> <br />EXHIBIT B <br /> <br />Proposed Articles of Incorporation <br /> <br />Articles of Incorporation <br />of <br />New Port Community Development Authority <br /> <br />The undersigned, pursuant to Chapter 51, Title 15.2 of the Code of Virginia, adopts the <br />following Articles of Incorporation for the New Port Community Development Authority and <br />states as follows: <br /> <br />Article I <br /> <br />Name <br /> <br />The name of this authority is NEW PORT COMMUNITY DEVELOPMENT <br />AUTHORITY (the "CDA"). <br /> <br />Article II <br /> <br />Orl!anization <br /> <br />Pursuant to an ordinance adopted by the City Council of the City of Portsmouth, Virginia <br />("City Council") on August 23, 2005, the CDA shall be organized by the City of Portsmouth, <br />Virginia under the Virginia Water and Waste Authorities Act (Chapter 51, Title 15.2 of the Code <br />of Virginia of 1950, as amended) (the "Act"), as a public body politic and corporate and a <br />political subdivision governed by the laws of the Commonwealth of Virginia. <br /> <br />Article III <br /> <br />Members <br /> <br />The affairs of the CDA shall be conducted by an authority board of five members ("CDA <br />Board"). The initial CDA Board members are as set forth in Attachment A attached hereto and <br />incorporated by reference. All members shall be appointed by the City Council, except for the <br />City Manager's designee, The City Manager may in writing appoint a designee to act in his stead <br />and on his behalf, and such designee shall serve the same fixed term as the City Manager. Each <br />member shall serve a four-year term, except the initial members who shall serve the terms of <br />office set forth in Attachment A hereto. The election of officers of the CDA shall be as set forth <br />in the By-Laws of the CDA. Qualifications and appointment of members of the CDA Board <br />shall be consistent with the requirements of the Act. <br />