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(7) At the request ofBon Secours the Authority hereby appoints Lehman Brothers, <br />New York, New York, as underwriters for the purchase and sale of the Refunding Bonds <br />pursuant to terms to be mutually agreed upon. <br /> <br /> (8) If requested by Bon Secours or bond counsel, the Authority shall, at the expense <br />of Bon Secours, make application to the Internal Revenue Service for such tax rulings as <br />may be necessa~ or deskable in connection with the issuance of all or pan of the Refunding <br />Bonds. The Chairman and the Vice Chairman of the Authority are hereby authorized to <br />execute an appropriate power of attorney naming such counsel as Bon Secours may request <br />for the purposes of seeking such ruling. <br /> <br /> (9) Nothing contained in this resolution shall require the expenditure of any funds <br />of the Authority for any purpose whatsoever except such as may be derived from the <br />proceeds of the Refunding Bonds issued pursuant hereto, it being understood that Bon <br />Secours and Maryview Hospital will reimburse the Authority for all reasonable and <br />necessary direct out-of-pocket expenses that the Authority may incur at the request of Bon <br />Secours or Maryview Hospital arising from the adoption of this resolution and the <br />performance by the Authority of its obligations hereunder and that are not paid with the <br />proceeds of the Refunding Bonds, including the Authority's fees and expenses, including <br />counsel fees. In addition, Bon Secours and Maryview Hospital shall pay to the Authority it's <br />annual fee of $500 per $1,000,000 principal amount of the Refunding Bonds actually issued <br />prorated to the extent such Refunding Bonds are not issued in an integral multiple of <br />$1,000,000, payable upon the issuance of the Refunding Bonds and on each anniversary date <br />of the issuance of the Refunding Bonds thereafter until payment of the Refunding Bonds in <br />full. If for any reason such Refunding Bonds are not issued, it is understood that all such <br />expenses shall be paid by Bon Secours and that the Authority shah have no responsibility <br />therefor. <br /> <br /> (10) The Authority hereby recommends, subject to the prior concurrence of the <br />Industrial Development Authority of the City of Portsmouth and the City Council of <br />Portsmouth, Virginia in this resolution, that the Board of Supervxsors of Henrico County, <br />Virginia approve the issuance of the Refunding Bonds. <br /> <br /> (11) This resolution shall take effect immediately and shall expire one year from the <br />date hereof unless the Refunding Bonds are issued within such time. <br /> <br />-3- <br /> <br /> <br />