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5 Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), and Section 15.2-4906 of the Code of Virginia of 1950, as amended (the “Virginia Code”), provide that the highest elected governmental unit of the locality having jurisdiction over the issuer of private activity bonds and over the area in which any facility financed with the proceeds of private activity bonds is located must approve the issuance of the bonds. The Authority issues its bonds on behalf of the City. The City Council of the City (the “Council”) constitutes the highest elected governmental unit of the City. Some of the Projects are located in the City, and some are located in the County. Thus, the Board of Supervisors of the County, as the highest elected governmental unit over the area in which some of the Projects are located, must also approve the bond issue, which it is scheduled to consider on December 6, 2006. Following the public hearing held by the Authority on November 14, 2006, the Authority adopted a resolution (the “Inducement Resolution”) in which it recommended and requested that the Council approve of the issuance of the Bonds by the Authority. A copy of the Inducement Resolution, a brief summary of the Authority's public hearing, and the Foundation's Fiscal Impact Statement have been filed with the Council. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA: 1. The recitals made in the first paragraph of this Resolution above are hereby adopted as part of this Resolution. 2. The Council approves the issuance of the Bonds by the Authority in a principal amount now estimated to be $170,000,000 for the benefit of the Foundation, as required by Section 147(f) of the Code and Section 15.2-4906 of the Virginia Code, to permit the Authority to assist in the financing and refinancing of the Projects. 3. The approval of the issuance of the Bonds does not constitute an endorsement to a prospective purchaser of the creditworthiness of the Projects or the Foundation, and, as required by Section 15.2-4909 of the Virginia Code, the Bonds shall provide that neither the City nor the Authority shall be obligated to pay the Bonds or the interest thereon or other costs incident thereto except from the revenues and moneys pledged therefor, and neither the faith and credit nor the taxing power of the Commonwealth of Virginia nor any political subdivision thereof, including the City and the Authority, shall be pledged thereto. 4. The Council finds that the Projects to be financed or refinanced satisfy the criteria for the financing of projects by the Authority contained in the City code. 5. This resolution shall take effect immediately upon its adoption. RESOLUTION h. : Authorizing $41,116 from Percent for Art Fund to Historical Society for the Preservation of Frances Brand Artwork BE IT RESOLVED by the City Council of the City of Charlottesville, Virginia that the sum of $41,116 is hereby paid from the Percent for Art Program account in the Capital Improvement Fund (Fund 425, Funded Program P-00180) to the Albemarle Charlottesville Historical Society to support The Brand Art Project. ORDINANCE i . : “AN ORDINANCE TO AMEND AND REORDAIN SECTIONS 15-36 AND 15-38 OF CHAPTER 15 (MOTOR VEHICLES AND TRAFFIC), OF THE CHARLOTTESVILLE CITY CODE, 1990, AS AMENDED, nd RELATING TO PRORATION OF VEHICLE LICENSE FEES” (2 reading) ORDINANCE j. : “AN ORDINANCE TO AMEND AND REORDAIN THE CODE OF THE CITY OF CHARLOTTESVILLE, VIRGINIA (1990) AS AMENDED, CHAPTER 14 (LICENSES) AND CHAPTER 30 (TAXATION) TO INCORPORATE CHANGES TO THE BPOL LICENSE AND OTHER TAXES, AS