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and directed to deem the preliminary official statement with respect to the Bonds "final" <br />for purposes of Securities and Exchange Commission Rule 15c2-12. <br /> <br /> 14. Continuing Disclosure. The City Manager and the Chief Financial Officer, or <br />either of them, are authorized and directed to enter into a Continuing Disclosure <br />Agreement for the benefit of the owners of the Bonds to assist the underwriter for the <br />Bonds in complying with the provisions of Section (b)(5) of Securities and Exchange <br />Commission Rule 15c2-12 and, if required, in connection with any Cooperation <br />Agreement. <br /> <br /> 15. Further Actions. The City Manager and the Chief Financial Officer and such <br />officers and agents of the City as either of them may designate are authorized and <br />directed to take such further action and to execute and deliver such additional <br />agreements, documents and certificates as they deem necessary regarding the Financing <br />and all actions taken by such officers and agents in connection with the Financing are <br />ratified and confirmed. <br /> <br /> 16. Effective Date; Applicable Law. In accordance with Section 15.2-2601 of the <br />Public Finance Act of 199t, Chapter 26, Title 15.2, 1950 Code of Virginia, as amended, <br />(the "Act"), the City Council elects to issue the Bonds and any Cooperation Agreement <br />pursuant to the provisions of the Act. This Resolution shall take effect immediately. <br /> <br /> ADOPTED by the Council OF THE CITY OF Portsmouth, Virginia, at a meeting <br />held on January 23, 2001. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />