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128 (d) the adverse impact that such restrictions may have on the non-residents of the proposed restricted parking block and their ability to find available parking near their place of work; now, therefore BE IT RESOLVED by the Council of theCity of Charlottesville that University Circle and University Way are hereby designated as a restricted parking block. This resolution shall be effective as of June t5, 1999. d. RESOLUTION: Approving Albemarle County Industrial Development Bonds for Martha Jefferson Hospital WItEREAS, the Industrial Development Authority of the City of Charlottesville, Virginia ("Authority"), hasbeen asked by Martha Jefferson Hospital ("Hospital") to approve the issuance of revenue bonds by the Industrial Development Authority of Albemarle County, Virginia ("Albemarle Authority") in an amount not to exceed $7,000,000 ("Bonds") to assist the Hospital in financing the replacement and installation of certain equipment, including, but not limited to, magnetic resonance imaging, CAT manner and other radiographic equipment and other clinical equipment and computer hardware to be used by the Hospital at its existing facilities located at 459 Locust Avenue, in the City of Charlottesville, Virgtrda, and has held a public hearing on April 15, I999; WItEREAS, Section t47(0 of the Internal Revenue Code of t986, as amended (the "Code"), provides that the govemmen~ unit having jurisdiction over the issuer of private activity bonds~andover the area in which any facility financed with the proceeds of private activity bonds is located must approve the issuance of the bonds; WHEREAS, Section t 5.2-4906 of the Industrial Development and Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended ("Act"), provides that if a locality has created an industrial development authority, no industrial development authority created by a second locality may finance a facility located in the first locality un}ess the governing body of such first locality concurs with the inducement created by the second locality; WHEREAS, the City Council of the City of Charlottesville, Virginia ("Council") has created an industrial development authority, the Project is located in the City of Charlottesville, V'trginia ("City") and the Council constitutes the highest elected governmental unit of the City; WItEREAS, the Authority has recommended that the Council approve the issuance of the Bonds; and WItEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, as well as a eopy of the Albemarle 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: The Council concurs with the resolution adopted by the Albemarle Authority and approves the issuance of the Bonds by the Albemarle Authority for the benefit of the Hospital, as required by Section 147(0 of the Code and Section t 5.2-4906 of the Code of Vh'ginia of t 950, as amended ("Virginia Code"). The approval of the issuance of the Bonds does not constitute an endorsement to a prospective purchaser of the Bonds of the creditworthiness of the Project or the Hospital.