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R-15-04 <br />A RESOLUTION APPROVING AMENDMENT OF THE SERVICE <br />AGREEMENT OF THE HAMPTON ROADS REGIONAL JAIL AUTHORITY <br />TO RESTRUCTURE THE AGREEMENT'S RESERVES POLICY. <br />WHEREAS, the Cities of Hampton, Newport News, Norfolk and Portsmouth, <br />Virginia (the "Initial Member Cities") provided for the creation of the Hampton Roads <br />Regional Jail Authority (the "Authority") by agreement (the "Agreement") approved <br />effective December 14, 1993; and <br />WHEREAS, the Initial Member Cities and the Authority entered into a service <br />agreement (the "Service Agreement") effective December 1, 1995, setting forth certain <br />rights and obligations of the Initial Member Cities and the Authority with respect to the <br />construction, use and operation of the Hampton Roads Regional Jail; and <br />WHEREAS, the City of Chesapeake, Virginia was admitted as a member of the <br />Authority and approved and became a party to the Service Agreement in 2014; and <br />WHEREAS, Section 4.3 of the Service Agreement contains certain provisions <br />related to the reserve funds to be maintained by the Authority; and <br />WHEREAS, on the recommendation of its staff and financial advisor and after <br />analysis of those provisions, the Authority desires to restructure and amend Section 4.3 of <br />the Service Agreement to more accurately represent the utilization of Authority funds and <br />to provide the Authority with reserve funds adequate for its needs and flexibility in the <br />use and replenishment of those reserves; and <br />WHEREAS, Section 9.5 of the Service Agreement provides that the Agreement <br />may be amended only with the consent of the Authority and the governing body of each <br />of its member jurisdictions, and the Authority approved the proposed amendment to the <br />Service Agreement at its meeting the 17th day of December, 2014; <br />WHEREAS, for the reasons and purposes stated above, the City of Portsmouth <br />also now desires to approve the amendment of Section 4.3 of the Service Agreement. <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia that it hereby approves, and authorizes and directs the city manager <br />to execute and city clerk to attest, on behalf of the City of Portsmouth, Virginia that <br />certain Amendment to the Service Agreement among the Hampton Roads Regional Jail <br />Authority and the Cities of Chesapeake, Hampton, Newport News, Norfolk .and <br />Portsmouth, a copy of which amendment is attached hereto and made a part hereof. <br />