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• RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA WHEREAS, the Industrial Development Authority of the City of Charlottesville, Virginia ("Authority"), has considered the application of Hearthstone Children's Corporation T/A The Ronald McDonald House of Charlottesville, a Virginia non -stock corpora- tion ("Corporation") requesting the issuance of the Authority's revenue bonds in an amount not to exceed $400,000 ("Bonds") to assist in the financing of the Corporation's acquisition, construction and equipping of a new four story (basement and three floors) sixteen unit residential building consisting of approximately 12,160 square feet to be used for temporary housing of families of pediatric patients at the University of Virginia Medical Center ("Project") to be located at the southeast corner of 9th and Nalle Streets, in the City of Charlottesville, Virginia, and has held a public hearing thereon on September 11, 1990; WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), provides that the governmental unit 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; WHEREAS, the Authority issues its bonds on behalf of the City of Charlottesville, Virginia ("City") ; the Project is to be located in the City and the City Council of the City of Charlottesville, Virginia ("Council") constitutes the highest elected governmental unit of the City; WHEREAS, the Authority has recommended that the Council approve the issuance of the Bonds; and WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, subject to the terms to be agreed upon, a certificate of the public hearing and a 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 Council approves the issuance of the Bonds by the Authority for the benefit of Hearthstone Children's Corporation T/A The Ronald McDonald House of Charlottesville, a Virginia non - stock corporation as required by Section 147(f) of the Code and Section 15.1-1378.1 of the Code of Virginia of 1950, as amended ("Virginia Code") to permit the Authority to assist in the • financing of the Project.