Laserfiche WebLink
which any facility financed with the proceeds of the Bonds is located approve the issuance of <br />such bonds; and <br /> <br /> WHEREAS, the Authority on June 20. 2000. held a public hearing on the issuance of the <br />Bonds; and <br /> <br /> WHEREAS. the Authority has recommended that the Council approve the issuance of the <br />Bonds to comply with Section 147(f) of the Code; and <br /> <br /> WHEREAS, copies of the Authority's resolutions of June 20, 2000, and July 6, 2000, <br />recommending the issuance of the Bonds, a record of the public hearing and a fiscal impact <br />statement with respect to the issuance of the Bonds have been filed with the Council; <br /> <br /> NOW, THEREFORE. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />PORTSMOUTH, VIRGINIA THAT: <br /> <br /> 1 The Council hereby approves the issuance of the Bonds by the Issuer to the extent <br />required by Section 147(1) of the Code and Section 15.2-4906 of the Virginia Code, and concurs <br />with the resolution adopted by the Issuer on June 15, 2000, to the extent required by Section 15.2- <br />4905 of the Act. <br /> <br /> 2. The approval of the issuance of the Bonds does not constitute an endorsement of the <br />Bonds or the creditworthiness of BSHSI and the Related Entities. As required by Section 15.2- <br />4909 of the Act, the Bonds shall provide that neither the City nor the Authority shall be obligated to <br />pay the Bonds or the interest thereon or other costs incident thereto except from the receipts, <br />revenues and moneys pledged therefor, and that the Bonds will not constitute a debt or pledge of <br />the faith and credit of the Commonwealth of Virginia, the City or the Authority and neither the faith <br />and credit nor the taxing power of the Commonwealth of Virginia, the City or the Authority shall <br />be pledged thereto. <br /> <br /> 3. All acts and doings of the officers and members of the Council that are in <br />conformity with the purposes and intent of this resolution shall be, and the same hereby are, in all <br />respects approved and confirmed. <br /> <br /> 4. The City, including its elected representatives, officers, employees and agents shall <br /> not be liable and hereby disclaims all liability for any losses of BSHSI or the Related Entities or for <br /> <br /> <br />