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debt service reserve funds and (iv) pay certain expenses incurred in connection with the issuance of the Series 1985B Bonds and the Series 1985C Bonds; and WHEREAS, BSHSI and Maryview Hospital have requested that the Henrico Authority issue one or more series of its Health Care Revenue Bonds, Series 1992 (Bon Secours Health System Project) (the "Bonds"), a portion of the proceeds of which will be to (i) advance refund the outstanding portion of the Series 1985A Bonds, (ii) advance refund the outstanding portion of the Series 1985B Bonds, (iii) advance refund the outstanding portion of the Series 1985C Bonds, (iv) pay or reimburse Maryview Hospital for the payment of the costs of acquiring, constructing, equipping, expanding, enlarging and improving certain of its medical facilities (the "Project"), (v) fund a debt service reserve fund if such fund is deemed necessary or desirable by Maryview Hospital and the Henrico Authority and (vi) pay certain expenses incurred in connection with the issuance of the Bonds and the advance refunding of the Series 1985A Bonds, the Series 1985B Bonds and the Series 1985C Bonds. including, without limitation, the cost of bond insurance for the Bonds if bond insurance is deemed necessary or desirable by Maryview Hospital and the Henrico Authority; and WHEREAS, the aggregate principal amount of the portion of the Bonds issued for the benefit of Maryview Hospital will not exceed $70,000,000, of which an amount not to exceed $42,250,000 will be used to advance refund the Series 1985A Bonds. the Series 1985B Bonds, the Series 1985C Bonds and an amount not to exceed $27.750.000 will be used to finance the Projecg and WHEREAS. the Bonds will be issued pursuant to the Virginia Industrial Development and Revenue Bond Act, Chapter 33. Tide 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 Mat2miew 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 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, Virginia concurs m the Inducement Resolution adopted by the Henrico Authority; and WHEREAS. Section 147(f) 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 -2-