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The conveyance and disposition of the real property described in the recitals <br />above from the City to the Authority as a gift is hereby approved and authorized, <br />and the Mayor, City Manager, City Attorney and other officers, employees, <br />agents and representatives of the City are authorized and directed to execute any <br />documents and take any and all actions necessary to effect such conveyance, in <br />order that the Authority may enter into all necessary agreements and take all <br />necessary actions required for the Authority to be the borrower under the above- <br />described loan awarded under the Initiative for the benefit of the Project. <br /> <br />The Council finds and determines that the conveyance authorized herein, the <br />development of the Project and the related the participation of the Authority in the <br />Initiative will promote industrial, commercial and economic development in the <br />City, promote trade in the City and the Commonwealth of Virginia, benefit the <br />economy of the City, serve and promote the purposes of the Act, and promote the <br />general health, safety and welfare of the citizens of the City. <br /> <br />The Resolution adopted by the Council on October 27, 1998 concerning the <br />City's application to participate in the Initiative is hereby affirmed and all actions <br />taken by the officers, employees, agents and representatives of the City in <br />furtherance of the City's application to participate in the Initiative are hereby <br />ratified and confirmed. <br /> <br />The Mayor, City Manager, City Attorney and all other officers, employees, agents <br />and representatives of the City are hereby authorized and directed to take any and <br />all such further action as shall be deemed necessary or desirable in order to <br />effectuate the purposes of this Resolution and the development of the Project by <br />the Authority, including but not limited to the assignment of contracts with the <br />architect and one or more contractors in relation to the Project from the City to the <br />Authority. <br /> <br />This Resolution shall take effect immediately. <br /> <br />Members of the Council voted as follows: <br /> <br />Aye Nay <br /> <br />Abstained Absent <br /> <br />Adopted this 10th day of August, 1999. <br /> <br /> <br />