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0 <br />WHEREAS, a copy of the Authority's resolution <br />approving the issuance of the Bonds, 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 Council; and <br />WHEREAS, pursuant to Section 103(n) of the Code <br />and Executive Order 54(85) of the Governor of Virginia <br />(the "Order") the Authority may not issue the Bonds until <br />$235,000 of the County's Local Allocation, as defined in <br />the Order, or $235,000 of the State Reserve, as defined <br />• in the Order (or some combination thereof) is allocated to <br />the issuance of the Bonds; <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF CHARLOTTESVILLE, VIRGINIA: <br />1. The Council approves the proposed issuance <br />of the Bonds by the Authority for the benefit of the Appli- <br />cant, to the extent required by the federal and state laws <br />referred to above, to permit the Authority to assist in the <br />financing of the Facility. <br />2. The foregoing approval of the proposed issuance <br />of the Bonds does not constitute an endorsement of the Bonds, <br />• the financial viability of the Facility or the creditworthiness <br />-2- <br />