SUBSTITUTE RESOLUTION NO RS99-24

A substitute resolution dissolving the Metropolitan Nashville Port Authority, and transferring remaining funds to the general fund of the General Services District and to the debt service fund of the General Services District.

Whereas, the Metropolitan Nashville Port Authority ("Port Authority") was created by Resolution No. 79- 1363 pursuant to Tenn. Code Ann. §7-85-101 et seq.; and

Whereas, the Metropolitan Nashville Port Authority was initially created to develop industrial and commercial expansion into undeveloped areas near the Cumberland River; and

Whereas, all the purposes for which Metropolitan Nashville Port Authority was created have been substantially completed; and

Whereas, the Port Authority has passed a resolution requesting The Metropolitan Government of Nashville and Davidson County to dissolve the Metropolitan Nashville Port Authority; and

Whereas, Resolution No. 99-1487 authorized the Metropolitan Mayor to request the Foreign Trade Zone Board to reissue a foreign trade zone grant of authority in the name of Metropolitan Government of Nashville and Davidson County; and

Whereas, the Foreign Trade Zone Board, by letter dated September 13, 1999, indicated that, upon the dissolution of the Metropolitan Nashville Port Authority, the Metropolitan Government of Nashville and Davidson County would assume the responsibility and function of the Metropolitan Nashville Port Authority.

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

Section 1: Pursuant to Tenn. Code Ann. §7-87-112 and, acting upon the Port Authority’s resolution to dissolve, effective November 2, 1999, the Metropolitan Nashville Port Authority is hereby dissolved.

(a) The Metropolitan Government of Nashville and Davidson County hereby accepts all of the Metropolitan Nashville Port Authority’s rights, title and interest in, to and with respect to the following real property:

(i) Map 79, Parcel 57 (6.53 acres of vacant industrial land in Cockrill Bend);

(ii) Map 79, Parcel 83 (38.94 acres of vacant industrial land in Cockrill Bend).

The Metropolitan Mayor may designate the Mayor’s Office of Economic and Community Development to undertake the ongoing administrative functions, duties and responsibilities previously performed by the Metropolitan Nashville Port Authority.

Section 2: Any remaining funds in the Metropolitan Nashville Port Authority accounts may be transferred to the Debt Services Fund of the General Services District and the General Fund of the General Services District as designated by the Director of Finance.

Section 3: The Metropolitan Mayor of Nashville and Davidson County ("the Mayor") or the Mayor’s designee is hereby authorized to execute submittal letters to the Foreign Trade Zone Board requesting foreign trade zone or subzone designation.

Section 4. That any foreign trade zone fees received by the Metropolitan Government after the passage of this resolution shall be deposited into the General Fund of the General Services District.

Section 5: That 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: Leo Waters

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Planning & Zoning Committee
Substitute Introduced:	October 19, 1999
Adopted:	October 19, 1999
Approved:	October 21, 1999
By: