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February 2, 1968 <br /> <br />liability or obligation on the City for the p_ayment of such bonds, nor shall such approval be <br />construed as making such bonds an obligation of the City. <br /> <br />SECTION S, Effectiveness of Resolution. <br /> <br />This resolution shall take effect immediatelyY <br /> <br />Ayes: Smith, Barnes, Eastes, Johnson, King, Knight, Leafy <br />Nays: None <br /> <br /> 68-28 - "I submit the attached ordinance and recommend it be placed on first reading. This <br />appropriates $I20,000 for the purchase of property in Pinners Point from the Southern Railway <br />Company. <br /> This covers two tracts of land. One is to be transferred in fee simple by the <br />Southern Railway Company to the City of Portsmouth, amounting to 27.5 acres. This parcel is <br />adjacent to the Elizabeth River 'Funnel. <br /> Ih~the second parcel we are acquiring Southern Railway's leasehold interest in the <br />property amounting to 16.56 acres. We a~e proceeding to acauire clear title to the land. This <br />parcel is adjacent to the present terminal facilities under 'construction, and other property of <br />the City of Portsmouth." <br /> <br /> On motion of Mr. King, the following o~dinance was approved on first reading, without dissenting <br />vote: <br /> <br />"AN ORDINANCE TO APPROPRIATE $120,000.00 FRO54 THE GENERAL CAPITAl IMPROVEMEL~ FUND FOR THE <br />PURCHASE OF PROPERTY_ LOCATED AT THE EASTERN END OF SEABOARD AVENUE" <br /> <br />On motion adjourned. <br /> <br />APPROVED - <br /> <br />President <br /> <br />City Clerk <br /> <br /> <br />