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WHEREAS, Section 147(1) of the Internal Revenue Code of 1986, as amended <br />(the "Code"), provides that the highest elected governmental official of the governmental <br />unit having jurisdiction over the area in which any facility financed with the proceeds of <br />the Bonds is located must approve the issuance of the Bonds in order for the interest on <br />the Bonds to be entitled to certain exemptions from taxation provided by the Code and <br />the Council of the City of Portsmouth, Virginia constitutes such highest elected <br />governmental official within the meaning of the Code; and <br /> <br /> WHEREAS, Section 15.2-4906 of the Act requires that the governing body of the <br />City of Portsmouth, Virginia, approve the issuance of the Bonds recommended by the <br />Portsmouth Authority; and <br /> <br /> WHEREAS, on November 21, 2000 the Portsmouth Authority adopted a <br />resolution approving the issuance of the Bonds and recommending that the City Council <br />of the City of Portsmouth, Virginia, express its concurrence with the Inducement <br />Resolution and approve the issuance of the Bonds so that the Henrico Authority may <br />issue its Bonds on behalf of BSHSI and Maryview Hospital as described above. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia that the Council hereby approves the issuance of the Bonds and <br />expresses its concurrence with the Inducement Resolution adopted by the Henrico <br />Authority for the benefit of BSHSI and Maryview Hospital and the application of a <br />portion of the proceeds thereof for the purposes described above for all purposes for <br />which such approval is required, including without limitation Sections 15.2-4905 and <br />15.2-4906 of the Act and Section 147(f) of the Code. <br /> <br /> BE IT FURTHER RESOLVED that the City Clerk be, and she hereby is, <br />instructed to forward a copy of this Resolution to the Portsmouth Authority, the Henrico <br />Authority, BSHSI and Maryview Hospital. <br /> <br /> BE IT FURTHER RESOLVED that this Resolution shall take effect on the date <br />of its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />November 28 2000. <br /> <br />Teste; <br /> <br />City Clerk <br /> <br /> <br />