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WHEREAS, by action at its December 11, 2018 meeting, EDA approved the Settlement <br />Agreement, the Cooperation Agreement, and the transactions contemplated by this Resolution. <br />NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia that it approves the Settlement Agreement; and <br />BE IT FURTHER RESOLVED that it approves and authorizes the execution of a <br />Cooperation Agreement with EDA in substantially the form attached hereto as Exhibit A; and <br />BE IT FURTHER RESOLVED that it approves and authorizes issuance of the Loan to <br />EDA in accordance with the terms and conditions set forth in this Resolution; and <br />BE IT FURTHER RESOLVED that it authorizes the City Manager and /or City Attorney <br />to execute the Settlement Agreement, Cooperation Agreement, loan agreements memorializing the <br />Loan, and such other documents or instruments as may be necessary or desirable to effectuate the <br />intent of this Resolution, and further authorizes the City Manager and /or City Attorney and their <br />designated staff to take such additional actions as are necessary or desirable to effectuate the intent <br />of this Resolution. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on <br />December 11, 2018. <br />Teste: <br />City Clerk <br />