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WHEREAS, the Bonds will be issued pursuant to the Virginia Industrial Development and Revenue Bond Act, Chapter 33, Title 15.1, Code of Virginia of 1950, as amended (the "Act"), and will be limited obligations of the Henrico Authority payable solely from the revenues and receipts derived from payments provided by Maryview Hospital, such facilities and BSHSI; and WHEREAS, the facilities to be financed and refinanced are located within the boundaries of the City of Portsmouth, Virginia, which has created the Industrial Development Authority of the City of Portsmouth (the "Portsmouth Authority"), and Section 15.1-1378 of the Act permits the issuance of the Bonds by the Henrico Authority for the benefit of Maryview Hospital if the governing body of the City of Portsmouth. V/rginia concurs in the Inducement Resolution adopted by the Henrico Authority; and WHEREAS, Section 147(t:) of the Internal Revenue Code of 1986, as amended (the "Code"), provides that the highest elected governmental official of the governmental unit having jurisdiction over the area in which any facility financed with the proceeds of the Bonds is located must approve the issuance of the Bonds in order for the interest on the Bonds to be entitled to certain exemptions from taxation provided by the Code and the Council of the City of Portsmouth, Virginia constitutes such highest elected governmental official within the meaning of the Code; and WHEREAS, Section 15.1~1378.1 of the Act requires that the governing body of the City of Portsmouth, Virginia approve the issuance of the Bonds recommended by the Portsmouth Authority; and WHEREAS, On June 9, 1993 the Portsmouth Authority adopted a resolution approving the issuance of the Bonds and recommending that the Council of the City of Portsmouth, Virginia, express its concurrence with the Inducement Resolution and approve the issuance of the Bonds so that the Henrico Authority may issue/ts Bonds for the benefit of BSHSI and Maryview Hospital as described above; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth. Virginia that the Council hereby approves the issuance of the Bonds in an aggregate principal amount not to exceed $27.000,000 and expresses its concurrence with the lnducemen~ Resolution adopted by the Henrico Authority for the benefit of BSHSI and Maryview Hospital, including any amendments to the Inducement Resolution adopted by the Henrico Authority which provides that the Bonds shall be issued in an aggregate principal amount not to exceed $27,000,000, and the application of the proceeds thereof for the purposes described above for all purposes for which such approval is required, including without limitation Sections 15.1-1378 and 15.1-1378.1 of the Act and Section 147(f~ of the Code. BE IT FURTHER RESOLVED that the City Clerk be, and hereby is, instructed to forward a copy of this Resolution to the Portsmouth Authority, the Henrico Authority and Maryview Hospital. -2-