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R-98-20 A RESOLUTION OF THE COUNCIL OF THE CITY OF PORTSMOUTH AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF REVENUE BONDS TO BE DESIGNATED "THE CITY OF PORTSMOUTH, VIRGINIA, GOLF COURSE SYSTEM REVENUE BONDS, SERIES 1998", IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $10,500,000, AND THE SALE THEREOF BY NEGOTIATION AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT BY AND BETWEEN THE CITY AND LEGG MASON WOOD WALKER INCORPORATED AND FIRST UNION CAPITAL MARKETS, AS THE UNDERWRITERS OF TI-IE SERIES 1998 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A TRUST INDENTURE, DATED AS OF MAY 1, 1998, BY AND BETWEEN THE CITY AND CRESTAR BANK, AS TRUSTEE, PROVIDING FOR THE ISSUANCE OF AND SECURITY FOR THE SERIES 1998 BONDS; AUTHORIZING THE PREPARATION AND DELIVERY OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL OFFICIAL STATEMENT RELATING TO THE SERIES 1998 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT, DATED AS OF MAY 1, 1998, BY AND BETWEEN THE CITY AND CRESTAR BANK, AS TRUSTEE, RELATING TO THE SERIES 1998 BONDS; APPOINTING CRESTAR BANK, AS TRUSTEE AND REGISTRAR AND PAYING AGENT FOR THE SERIi~S 1998 BONDS; AND OTHERWISE PROVIDING WITH RESPECT TO THE ISSUANCE OF THE SERIES 1998 BONDS BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH: SECTION 1. References· Unless otherwise set forth below or unless the context shall clearly indicate some other meaning, all words and terms used in this resolution which are defined in the Trust Indenture approved in Section 3 shall, for all purposes of this resolution, have the respective meanings given to them in the Trust Indenture. "Bond Purchase Agreement" shall mean the Bond Purchase Agreement to be entered into by and between the City and the Underwriters relating to the Series 1998 Bonds. "City" shall mean the City of Portsmouth, Virginia. "Commonwealth" shall mean the Commonwealth of Virginia. "Continuing Disclosure Agreement" shall mean the Continuing Disclosure Agreement, dated as of May 1, 1998, to be entered into by and between the City and the Trustee relating to the Series 1998 Bonds. "DTC" shall mean The Depository Trust Company. "Official Statement" shall mean the Official Statement of the City relating to the Series 1998 Bonds.