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RESOLUTION • OF THE CITY COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA WHEREAS, the Economic Development Authority of Albemarle County, Virginia (the "Authority"), has considered the application of The University of Virginia Health Services Foundation (the "UVAHSF") located at 500 Ray C. Hunt Drive, in Albemarle County, Virginia, requesting the issuance of the Authority's variable rate revenue bonds in an amount not to exceed $23,100,000 (the "Bonds") to assist in financing (i) the acquisition, construction and equipping of a 64,000 square foot long-term acute care hospital, including an approximately 8,000 square foot imaging, center to be located adjacent to property at 2985 Ivy Road in Albemarle County, Virginia, (ii) the acquisition and installation of a Gamma Knife (a specialized neurosurgical device) at the University of Virginia Medical Center located in the Primary Care Building at 1221 Lee Street at University of Virginia Medical Center in the City of Charlottesville, Virginia (the "City"), (iii) the replacement of the HVAC system in the Northridge Building at UVAHSF's facilities, located at 2955 Ivy Road in Albemarle County, Virginia, (iv) capitalized interest and (v) certain costs of issuing the Bonds (collectively, the "Project"), and has held a public hearing on October 14, 2008; WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), provides that the governmental unit having jurisdiction over the area in which any facility financed with the proceeds of private activity bonds is located must approve the issuance of the bonds; is WHEREAS, in accordance with Section 147(f) of the Code, the public hearing held by the Authority was within 100 miles of the City; WHEREAS, for purposes of Section 15.2-4906 of the Code of Virginia of 1950, as amended (the "Virginia Code"), the Authority is issuing the Bonds on behalf of the City. WHEREAS, the Authority has recommended 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 the Borrower, as required by Section 147(f) of the Code and Section 15.2-4906 of the Code of Virginia of 1950, as amended ("Virginia Code") to permit the Authority to assist in the financing of the Project. 2. The Council concurs with the resolution to be adopted by the Authority and approves the issuance of the Bonds by the Authority for the benefit of the Borrower as required • by Section 15.2-4905 of the Virginia Code. Active_6656555_2_INAHSF 2008 - Charlottesville Resolution of the CC