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February 2, 1968
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<br />At a called meeting Of the City Council, held on February 2, 1968, there were present:
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<br />R. Irvine Smith, Jack P. Barnes, George D. Eastes, Buarrell R. Johnson, Isaac W. King,
<br />L. L. Knight, W. T. Leery, A. P. Johnson, Jr., City Manager, M. A. Korb, Jr., City Attorney,
<br />and R. D. Ottavio, ~ity Auditor.
<br />
<br />The meeting was opened with prayer by Mr. King.
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<br />The following call for the meeting was read:
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<br /> "Please attend a called meeting of the City Council, in the Council. Chamber, at 7:30 A.M., on
<br />Friday, February 2, 1968, to consider the following:
<br /> 1. A resolution to transfer property to the Portsmouth Port and Industrial Commission.
<br /> 2. Au ordinance to appropriate funds for the purchase of property from the Southern Railway
<br /> Company, in Pinners Point.
<br /> By Order of the President."
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<br />The following letters from the City Manager were read:
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<br /> 68-27 - "I submit the attached resolution and recommend its adoption. This resolution
<br />a~thorizes the conveyance of certain lands to the Portsmouth Port and Industrial Commission, authorizes
<br />the officers of the City to negotiate with the Virginia State Ports Authority, to amend the agreement
<br />of the lease dated July 1, 1966, and requires certain payment to the City by the Portsmouth Port and
<br />Industrial Commission.
<br /> This conveys to the Portsmouth Port and Industrial Commission the land and building
<br />of the new warehouse that has been constructed. It also transfers the land where the new fumigator
<br />will be located and authorizes the execution of the necessary deeds to affect the conveyance of
<br />the above properties.
<br /> This further authorizes the proper offices of the city to enter into negotiations with
<br />the Virginia State Ports Authority and the Portsmouth Port and Industrial Commission, whereby the
<br />lease will be revised and amended Rs may be necessary to hermit the Portsmouth Port and Industrial
<br />Co~anission to issue and sell long-term revenue bonds or c~rry out other revenue financing.
<br /> This also approves by the City Council the Port Commission issuing revenue bonds in
<br />the amount of $1,500,000.00."
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<br />On motion of Mr. Knight, the following resolution was adopted, and by the following vote:
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<br />"A RESOLUTION AUTHORIZING THE CONVEYANCE OF CERTAIN LANDS TO THE PORTSMOUTH PORT AND INDUSTRIAL
<br />COF~4ISSION; AUTHORIZING THE PROPER OFFICERS OF THE CITY OF PORTSMOUTH TO NEGOTIATE ~ITH THE VIRGINIA
<br />STATE PORTS AUTHORITY CONCERNING AMENDMENTS TO THE AGREEMENT OF LEASE DATED AS OF JULY l, 1966,
<br />BETFYEEN ~tE CITY AND SAID AUTHORITY; REQUIRING CERTAIN PAYMENTS TO THE CITY BY SAID CO.~X~{ISSION;
<br />AND PROVIDING FOR CERTAIN PAYMENTS BY ~-IE CITY TO SAID CO~SIISSION FROM MONEYS RECEIVED BY
<br />THE CITY FROM SAID AUTHORITY OR FROM THE STATE OF VIRGINIA.
<br />
<br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA:
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<br /> Section 1. Findings and Determinations. By Ordinance No. 1966-56, adooted by the Council of the City
<br />of Portsmouth, Virginia, on July 11~ 1~6, this Council authorized the execu%ion of a Port Facility
<br />Contract (hereinafter referred to as the "Port Facility Contract") dated as of June 1, 1966, between
<br />the Virginia State Ports ARthority {hereinafter referred to as the "Authority") and the City of
<br />Portsmouth 0leI~inafter referred to as the "City"), whereby the City agreed to convey (and has
<br />conveyed) to the Authority certain land particularly described therein for the consideration set
<br />forth therein, and further agreed to pay $5,600,000 of the costs of the construction and equipping
<br />by the Authority on said land of certain port facilities also described therein. By said Ordinance
<br />No. 1966-56, this Council also approved the execution of an Agreement of Lease (hereinafter referred to
<br />as the "Lease") dated as of July 1, 1966, between the Authority and the City whereby the Authority
<br />leased to the City the land conveyed to the Authority pursuant to the Port Facility Contract,
<br />together with the port facilities to be erected thereon by the Authority in accordance with said
<br />contract. By resolution adopted February 9, 1967, this Council approved certain changes in the
<br />plans and specifications for the construction of the port facilities covered by the Port
<br />Facilities Contract, which changes were estimated to increase the cost of such facilities by $2,000,000
<br />and agreed that the City would assume the entire cost of such changes if State funds are not available
<br />to bear a portion of the same.~ In order to carry out its obligations under the Port Facility Contract
<br />as supplemented by said resolution, the City has appropriated to the payment of such obligations the
<br />sum of $4,350,000, which amount has been financed by the City through the issuance of its general
<br />obligation bonds. In addition to sRid sum of $4,550,000, the City has from time to time paid
<br />out further and additional amounts in order to pay {i) costs of construction of the port facilities
<br />covered by the Port Facility Contract, (ii) the costs of acquiring for oort purposes three separate parcels
<br />of land in the vicinity of that land conveyed to the Authority pursuant~to the Port Facility Contrac%,
<br />which said parcels are generally described in Section 2 of this resolution, and (iii) the costs
<br />of improvements on said three parcels of land.
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<br /> By resolution adopted by this Council on September 12, 1967, this Council approved the assignment
<br />to the Portsmouth Port and Industrial Conz~ission {hereinafter referred to as the "Commission") of the Lease
<br />and all rights of the City thereunder so that the property to which the Lease pertains would be
<br />operated by the Commission, such assignment being permitted bythe Lease, which, however, provides
<br />that in the event of any such assignment by the City, the City shall be and remain fully responsible
<br />to the Authority for the due and proper performance of the lease. The Commission through its officers
<br />has now verbally proposed to the City that the Cit~ convey to the Commission the aforesaid three
<br />separate parcels of land and the buildings, structures and improvements thereon so that the same may
<br />also be operated by the Commission; that the Commission pay the costs of completing the construction
<br />of the improvements now being erected on said parcels and now being erected pursuant to the Port
<br />Facility Contract~ to the extent that such costs are not paid for by the Authority or the State of
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