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to the extent that same are not paid from the proceeds of the Bonds or from any other available funds. 5. The Chief Financial Officer and the City Manager, or either of them, and their designees are hereby authorized and directed to prepare, execute, if required, and deliver an appropriate notice of sale, preliminary official statement, official statement or such other offering or disclosure documents as my be necessary to expedite the sale of the Bonds. The notice of sale, preliminary official statement, official statement or other documents shall be published in such publications and distributed in such manner and at such times as the Chief Financial Officer shall determine. The Chief Financial Officer is authorized and directed to deem the preliminary official statement "final" for purposes of Securities and Exchange Commission Rule 15c2-12. 6. The City Manager and the Chief Financial Officer and their designees are authorized and directed to take such further action as they deem necessary regarding the issuance and sale of the Bonds and Notes and all actions taken by such officers and agents in connection with the issuance and sale of the Bonds and any Notes are ratified and confirmed. 7. The City Attorney of the City shall file a copy of this resolution, certified by the City Clerk of the City to be a true copy thereof, with the Circuit Court of the City of Portsmouth, Virginia, in accordance with Section 15.2-2607 of the Code of Virginia, 1950. 8. In accordance with Section 15.2-2601 of the Public Finance Act of 1991 (Chapter 26, Title 15.2, Code of Virgiuia 1950, as amended) the Council elects to issue the bonds and the Notes pursuant to the provisions of such Act. 9. This resolution shall take effect from the date of its adoption. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held April 25, 2000. Teste: City Clerk Date of Filing with the Circuit Court of the City of Portsmouth, Virginia: April ____, 2000