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<br />SaleIJ:lRoad, Virginia Il.each, Virginia 23456, (E) the acqu,isition, construc~on and
<br />equipping of the full-service Hilltop Family YMCA, including but not limited to
<br />cardiovascular, aerobics and fitness areas, a child care center and indoor pool,
<br />located at 1536 Laskin Road, Virginia Beach, Virginia 23451, (F) the acquisition,
<br />renovation and equipping of the Indian River Family YMCA including a child
<br />care center located at 5660 Indian River Road, Virginia Beach, Virginia 23464,
<br />(G) the acquisition and the renovation and equipping, including but not limited
<br />to fitness and cardiovascular equipment, refurbished aerobics and locker room
<br />areas and rebuilt racket ball courts, of the full-service Greenbrier North YMCA
<br />located at 2100 Old Greenbrier Road, Chesapeake, Virginia 23320, (H) the
<br />construction of two outdoor pools and the addition of a cardiovascular fitness
<br />area and equipment and other improvements located at the Mt. Trashmore
<br />Family YMCA at 4441 South Boulevard, Virginia Beach, Virginia 23452, (1) two
<br />outdoor pools and other renovations including but not limited to a fitness center,
<br />child care center, office, lobby and parking lot improvements at the Chesapeake
<br />Family YMCA located at 1033 Greenbrier Parkway, Chesapeake, Virginia 23320
<br />and m cardiovascular and weight equipment for, and renovations to the fitness
<br />areas at, the Downtown Norfolk, Mt. Trashmore, Indian River and Greenbrier
<br />North YMCA facilities, all of the foregoing being referred to herein collectively
<br />as the "Projects." The proceeds of the Bonds will also be used to finance certain
<br />costs of the issuance of the Bonds; and
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<br />WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as
<br />amended (the "Code"), and Section 15.2-4906 of the Code of Virginia of 1950, as
<br />amended (the "Virginia Code"), provide that the highest elected governmental
<br />unit of the locality having jurisdiction over the issuer of private activity bonds
<br />and over the area in which any facility financed with the proceeds of private
<br />activity bonds is located must approve the issuance of the bonds. One of the
<br />Projects is located in the City of Portsmouth, Virginia (the "City"), and the City
<br />Council of the City (the "Council") constitutes the highest elected governmental
<br />unit of the City. The Bonds will be issued by the Alexandria Authority, and the
<br />City Council of the City of Alexandria, Virginia has given its approval to the
<br />issuance of the Bonds on February 24, 1998. Section 15.2-4905 of the Virginia
<br />Code provides that if a locality has created an industrial development authority,
<br />no industrial development authority created by a second locality may finance a
<br />facility located in the first locality unless the governing body of such first locality
<br />concurs with the inducement resolution adopted by the industrial development
<br />authority of the second locality. The Alexandria Authority adopted its
<br />inducement resolution on January 12, 1998 (the "Alexandria Inducement
<br />Resolution"); and
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