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9 <br />Arts, Inc. ("Borrower") requesting the issuance of the Authority's revenue bonds in an <br />amount not to exceed $2,500,000 ("Bonds") to assist in the financing of the Borrower's <br />acquisition, construction and equipping of a regional art center co nsisting of <br />approximately 27,000 square feet ("Project") to be located at123 East Water Street, in the <br />City of Charlottesville, Virginia, and has held a public hearing on November 19, 2002; <br />WHEREAS <br />, Section 147(f) of the Internal Revenue Code of 1986, as a mended <br />(the "Code"), provides that the governmental unit having jurisdiction over the issuer of <br />private activity bonds and over the area in which any facility financed with the proceeds <br />of private activity bonds is located must approve the issuance of the bonds; <br />WHEREAS <br />, the Authority issues its bonds on behalf of the City of <br />Charlottesville, Virginia ("City"); the Project is to be located in the City and the City <br />Council of the City of Charlottesville, Virginia ("Council") constitutes the highest elected <br />g overnmental unit of the City; <br />WHEREAS <br />, the Authority has recommended that the Council approve the <br />issuance of the Bonds; and <br />WHEREAS <br />, a copy of the Authority's resolution approving the issuance of the <br />Bonds, subject to the terms to be agreed upon, a certif icate of the public hearing and a <br />Fiscal Impact Statement have been filed with the Council. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF CHARLOTTESVILLE, VIRGINIA: <br />1. The Council approves the issuance of the Bonds by the Authority for the <br />benefit of the Borrower, as required by Section 147(f) of the Code and Section l5.2 - 4906 <br />of the Code of Virginia of 1950, as amended ("Virginia Code") to permit the Authority to <br />assist in the financing of the Project. <br />2. The approval of the issuance of the B onds does not constitute an endorsement <br />to a prospective purchaser of the Bonds of the creditworthiness of the Project or the <br />Borrower. <br />3. This resolution shall take effect immediately upon its adoption. <br />ORDINANCE <br />j. : "AN ORDINANCE AMENDING AND REORDAINING <br />SECTION 19 - 139 OF ARTICLE V OF CHAPTER 19 OF THE <br />CHARLOTTESVILLE CITY CODE, 1990, AS AMENDED, AND <br />ADDING A NEW SECTION NUMBERED 19 - 95.2 IN ARTICLE IV OF <br />THE CHARLOTTESVILLE CITY CODE, 1990, AS AMENDED, <br />RELATING TO HEALTH CARE COVERAGE FO R RETIRED <br />EMPLOYEES AND PURCHASE OF SERVICE CREDIT TOWARD <br />nd <br />RETIREMENT" (2 reading) <br />ORDINANCE <br /> k. : "AN ORDINANCE AMENDING AND <br /> REORDAINING CHAPTER 12 (FIRE PREVENTION AND <br /> PROTECTION), ARTICLE III (FIRE PREVENTION CODE) OF THE <br /> CODE OF THE CITY OF CHARLOTTESVILLE, 1990, AS AMENDED, <br />nd <br /> RELATING TO OPEN BURNING) (2 reading) <br /> <br />ORDINANCE <br /> l. : "AN ORDINANCE TO AUTHORIZE CONVEYANCE <br /> OF CITY - OWNED PROPERTY (FOUR VACANT LOTS ON JOHN <br />nd <br /> STREET) TO PIEDMONT H OUSING ALLIANCE" (2 reading) <br /> <br />ORDINANCE <br /> m. : "AN ORDINANCE AUTHORIZING CONVEYANCE OF <br /> CITY - OWNED LOT ON MONROE LANE (TAX MAP PARCEL 11 - 124) <br />nd <br /> TO THE UNIVERSITY OF VIRGINIA" (2 reading) <br /> <br />ORDINANCE <br /> n. : "AN ORDINANCE CLOSING, VACATING AN D <br /> DISCONTINUING A PORTION OF AN ALLEY, LOCATED OFF <br />