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• 2. The approval of the issuance of the Refunding Bonds <br />does not constitute an endorsement to a prospective purchaser of <br />the Refunding Bonds of the creditworthiness of the Project or of <br />the Applicant. As required by Section 15.1-1380 of the Code of <br />Virginia of 1950, as amended, the Refunding Bonds shall provide <br />that neither the City nor the Authority shall be obligated to pay <br />the Refunding Bonds or the interest thereon or other costs <br />incident thereto except from the revenues and moneys pledged <br />therefor, and neither the faith or credit nor the taxing power of <br />the Commonwealth of Virginia, the City nor the Authority shall be <br />pledged thereto. <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 <br />its adoption. <br />February 1E, 1992. <br />Cl <br />• <br />- 2 - <br />1 rk, City Counc�f the <br />City of Charlottesville, <br />Virginia <br />92-6-6 <br />