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RESOLUTION
<br />• OF THE CITY COUNCIL OF THE
<br />CITY OF CHARLOTTESVILLE, VIRGINIA
<br />WHEREAS, the Industrial Development Authority of the Town of Louisa, Virginia (the
<br />"Authority"), has been requested by Region Ten Community Services Board, Inc. (the
<br />"Company"), a non-profit, Virginia nonstock corporation, to approve the issuance of a revenue
<br />bond in an amount not to exceed $8,000,000 ('Bond") to assist the Company in (1) refinancing
<br />the Industrial Development Authority of Albemarle County, Virginia's $5,000,000 Variable Rate
<br />Community Services Facilities Revenue Bonds (Region Ten Community Services Board, Inc.),
<br />Series 1999, issued on August 31, 1999 originally issued to finance and refinance Company
<br />facilities located in the City of Charlottesville, Virginia and the City of Charlottesville, Virginia
<br />(2) financing the acquisition, construction, renovation and equipping of the property known as
<br />Mountainwood, to house the Company's administrative offices and community services, located
<br />on an approximately 9 acre tract of land on Old Lynchburg Road, in the City of Charlottesville,
<br />Virginia and (3) financing the acquisition, construction, renovation and equipping of the Nelson
<br />County Counseling Center located at Tanbark Plaza, Lovingston, Virginia in the County of
<br />Nelson, Virginia (collectively, the "Project"), and has held a public hearing on December 7,
<br />2006;
<br />WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the
<br />"Code"), provides that the governmental unit having jurisdiction over the area in which any
<br />facility financed with the proceeds of private activity bonds is located must approve the issuance
<br />• of the bonds;
<br />WHEREAS, a portion of the Project is to be located in the City of Charlottesville,
<br />Virginia (the "City") and the City Council of the City of Charlottesville, Virginia ('Council")
<br />constitutes the highest elected governmental unit of the City;
<br />WHEREAS, in accordance with Section 147(f) of the Code, the public hearing held by
<br />the Authority was within 100 miles of the City;
<br />WHEREAS, for purposes of Section 15.2-4906 of the Code of Virginia of 1950, as
<br />amended (the "Virginia Code"), the Authority is issuing the portion of the Bond relating to the
<br />portion of the Project located in the City on behalf of the City.
<br />WHEREAS, the Authority has recommended that the Council approve the issuance of the
<br />Bond; and
<br />WHEREAS, a copy of the Authority's resolution approving the issuance of the Bond,
<br />subject to the terms to be agreed upon, a certificate of the public hearing and a Fiscal Impact
<br />Statement have been filed with the Council.
<br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
<br />OF CHARLOTTESVILLE, VIRGINIA:
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