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AN ORDINANCE <br />• AUTHORIZING CONVEYANCE <br />OF THE CITY'S INTEREST <br />IN THE WESTERN VIRGINIA BICENTENNIAL CENTER <br />PROPERTY TO ALBEMARLE COUNTY <br />WHEREAS, the General Assembly of Virginia has authorized <br />the State Board for Community Colleges to sell the Western <br />Virginia Bicentennial Center property (the "Property") to the <br />City of Charlottesville (the "City") and the County of <br />Albemarle (the "County"); and <br />WHEREAS, the City and County have agreed that the purchase <br />of the Property should be financed by the issuance of a revenue <br />bond or note secured by the proceeds of a long term lease of <br />the Property to the Thomas Jefferson Memorial Foundation; and <br />WHEREAS, such financing and lease can most readily be <br />accomplished by the County, acting as sole legal owner of the <br />Property; and the City therefore desires to convey its one-half <br />interest in the Property to the County; now, therefore, <br />• BE IT ORDAINED by the Council of the City of Charlottesville, <br />Virginia that: <br />1. The Mayor or Vice -Mayor is authorized to execute a deed <br />of bargain and sale, in form approved by the City Attorney, <br />conveying to the County the City's interest in the Property. <br />2. The Mayor or Vice -Mayor is further authorized to execute <br />such other documents as the City Attorney may advise are <br />necessary to complete the acquisition of the Property from <br />the Commonwealth, the financing of such purchase, or the <br />leasing of the Property, including but not limited to, an <br />agreement with the County governing the maintenance of the <br />Property during the term of the leasehold and its disposition <br />thereafter. <br />Approved by Council <br />August 6, 1984 <br />C rc of Council <br />0 <br />84-7-25 <br />