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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 Refunding Bond <br />by the Authority to refund the Prior Bond and thereby to <br />refinance the Project for the benefit of the Foundation, as <br />required by Section 147(f) of the Code and Section 15.1-1378.1 of <br />the Code of Virginia of 1950, as amended ("Virginia Code"). <br />2. The approval of the issuance of the Refunding Bond does <br />not constitute an endorsement to a prospective purchaser of the <br />Refunding Bond of the creditworthiness of the Project or the <br />Foundation. <br />3. Pursuant to the limitations contained in Temporary <br />Income Tax Regulations Section 5f.103 -2(f)(1), this resolution <br />shall remain in effect for a period of one year from the date of <br />its adoption. <br />4. This resolution shall take effect immediately upon its <br />adoption. <br />Adopted by the City Council of the City of Charlottesville, <br />Virginia this IV-I�v day of November, 1991. <br />[SEAL] <br />\4366\HSF001.RS2 <br />C1 k, City Council of the City of <br />Charlottesville, Virginia <br />91-6-50 <br />no= <br />