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1. The Council approves the issuance of the Bonds by the <br />• Albemarle Authority 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") to <br />permit the Authority to assist in the financing. <br />2. The Council concurs with the resolution adopted by the <br />Industrial Development Authority of Albemarle County, Virginia <br />and approves the issuance of the Bonds by the Industrial <br />Development Authority of Albemarle County, Virginia for the <br />benefit of the Foundation as required by Section 15.1-1378 of the <br />Act. <br />3. The approval of the issuance of the Bonds does not <br />constitute an endorsement to a prospective purchaser of the Bonds <br />of the creditworthiness of the Project or the Foundation. <br />4. 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 />5. This resolution shall take effect immediately upon its <br />adoption. <br />• Adopted by the City Council of the City of Charlottesville, <br />Virginia this _day of October, 1995. <br />[SEAL] <br />CletX, City Council of <br />the City of Charlottesville, <br />Virginia <br />-2- <br />