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R -21 -03 <br />A RESOLUTION RESCINDING THE LOCAL REVENUE ALLOCATION POLICY <br />GOVERNING THE ALLOCATION OF LOCAL REVENUE TO PORTSMOUTH PUBLIC <br />SCHOOLS. <br />WHEREAS, by Resolution R -20 -09 adopted on February 25, 2020, the Council of the City of <br />Portsmouth, Virginia adopted a Local Revenue Allocation Policy for the purpose of establishing a <br />formula governing the annual allocation of local revenue to Portsmouth Public Schools; and <br />WHEREAS, City Council desires to rescind the Local Revenue Allocation Policy; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: <br />L That it hereby rescinds the Local Revenue Allocation Policy, and said Policy shall be of <br />no further force or effect: and <br />That this Resolution shall take effect on the date of its adoption. <br />ADOPTED by the Council of the City of Portsmouth. Virginia at an electronic meeting held on <br />February 23, 202 L <br />Teste: <br />City Clerk <br />