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WHEREAS, a copy of the Authority's resolution <br />• approving the issuance of the Bonds and its recommendation <br />with respect thereto, a record of the public hearing and <br />the Fiscal Impact Statement required by Paragraph 2 of <br />Chapter 514 of the Acts of the General Assembly of Virginia <br />of 1983 have been filed with the City Council; <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA: <br />1. The City Council approves the proposed <br />issuance of the Bonds by the Authority for the benefit of <br />the Partnership, to the extent required by the federal.law <br />referred to above, to permit the Authority to assist in <br />• the financing of the Facility. <br />2. The foregoing approval of the proposed <br />issuance of the Bonds does not constitute an endorsement <br />of the Bonds, the financial viability of the Facility or <br />the creditworthiness of the Partnership. The Bonds shall <br />provide that neither the Commonwealth of Virginia, the <br />City nor the Authority shall be obligated to pay the Bonds <br />or the interest thereon or other costs incident thereto <br />except from the revenues and moneys pledged therefor and <br />neither the faith and credit nor the taxing power of the <br />Commonwealth, the City or the Authority shall be pledged <br />thereto. <br />• 3. This Resolution shall take effect immediately <br />upon its adoption. /} <br />Approved by Council -2- A4 4 A 12 <br />/ . <br />July 23, 1984 1 rk of Council <br />