ADOPTED 04/06/1999

RESOLUTION NO. R99-1487

A resolution authorizing the Metropolitan Government to accept from the Metropolitan Nashville Port Authority, re-issuance of the Metropolitan Nashville Port Authority's foreign trade zone and authorizing the Metropolitan Mayor to execute a request to the Foreign Trade Zone Board to reissue a foreign trade zone grant of authority in the name of the Metropolitan Government of Nashville and Davidson County.

Whereas, the Metropolitan Nashville Port Authority ("Port Authority") is authorized pursuant to T.C.A. § 7-85-101 et seq. to operate a foreign trade zone; and

Whereas, the Port Authority presently operates Foreign Trade Zone 78 ("Foreign Trade Zone"); and

Whereas, the Port Authority was initially created to develop industrial and commercial expansion into undeveloped areas near the Cumberland River, of which Cockrill Bend is the last parcel of land owned by the Port Authority that is capable of being developed; and

Whereas, the Port Authority's mission to develop Cockrill Bend into an industrial park has been completed and the Port Authority will, in the future, wind up its business and dissolve; and

Whereas, it is beneficial to the public for a public corporation to maintain the Foreign Trade Zone; and

Whereas, the Port Authority, by Resolution No. R99-001 resolved that the Foreign Trade Zone should be re-issued from the Port Authority to the Metropolitan Government; and

Whereas, Tennessee Code Annotated, § 7-85-103. authorizes the Metropolitan Government to apply to the Foreign Trade Zone Board to establish, operate and maintain foreign trade zones and subzones and to accept the grant to so operate and maintain the foreign trade zones and subzones; and

Whereas, the Metropolitan Government desires to accept re-issuance of the Foreign Trade Zone, including all of the ancillary responsibilities thereto and to request that the Foreign Trade Zone Board reissue the foreign trade zone grant of authority in the name of the Metropolitan Government.

Now, therefore, be it resolved by The Metropolitan Government of Nashville and Davidson County:

Section 1. The Metropolitan Government accepts re-issuance of the Foreign Trade Zone from the Port Authority to the Metropolitan Government and the Metropolitan Mayor is hereby authorized to execute the letter attached as Exhibit A requesting the Foreign Trade Zone Board to reissue the foreign trade zone grant of authority in the name of the Metropolitan Government.

Section 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Charles Fentress

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Planning & Zoning Committee
Introduced:	April 6, 1999
Adopted:	April 6, 1999
Approved:	April 8, 1999
By: