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3. The approval of the issuanee of the Bonds, as required by the Code and the <br />Virginia Code, does not constitute an endorsement to a prospective purchaser of the Bonds of the <br />creditworthiness of the Company and, as required by the Industrial Development and Revenue <br />Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended, the Bonds shall provide <br />that neither the City nor the Authority shall be obligated to pay the Bonds or the interest thereon <br />or other costs incident thereto except from the revenues and monies pledged therefor and neither <br />the faith or credit nor the taxing power of the Commonwealth of Virginia, the City or the <br />Authority shall be pledged thereto. <br /> <br />4. This resolution shall take effect on the date of its adoption. <br /> <br /> ADOPTED by the Council of the City of Portsmouth, Virginia. at a meeting held on <br />April 10, 2001. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> 2 <br /> <br /> <br />