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the provisions of the Internal Revenue Code of 1986, as amended (the "Code"), and applicable regulations relating to the exclusion from gross income of interest on the Bonds or on the VPSA Bonds. The Council covenants on behalf of the City that the proceeds from the issuance and sale of the Bonds will be invested and expended as set forth in such non-Arbitrage Certificate and Tax Covenants and that the City shall comply with the other covenants and representations contained therein. Furthermore, the Council covenants on behalf of the City that the City shall comply with the provisions of the Code so that interest on the Bonds and on the VPSA Bonds will remain excludable from gross income for Federal income tax purposes. 10. s~a~INo~-A~b~a~-~r6g~m2 The Council hereby finds and determines that (a) the Council has received and reviewed (i) a draft of the Information Statement dated February 17, 1989 (the "Information Statement"), describing the State Non-Arbitrage Program of the Commonwealth of Virginia ("SNAP") and (ii) a draft of the Contract dated January 16, 1989 (the "Contract"), creating the State Non-Arbitrage Program Pool I ("SNAP Pool I"), and (b) the City has been afforded the opportunity to discuss SNAP with the investment manager of the special counsel to SNAP, and the Council hereby further determines that it is in the best interests of the City to authorize the Director of Finance of the City to participate in SNAP. The Contract is hereby approved, and the Director of Finance is hereby authorized to execute and deliver the Contract on behalf of the City. The Council acknowledges that its decision to authorize the participation in SNAP is based solely on the information set forth in the Information Statement and in the Contract~ and the Council hereby acknowledges that the Treasury Council of the Commonwealth of Virginia is not, and shall not be, in any way liable to the City in connection with SNAP, except as otherwise provided in the Contract. 11. Filing~of Res6iu~i6h and'Publication of Notice. The appropriate officers or agents of the City are hereby authorized and directed to cause a certified copy of this Resolution to be filed with the Circuit Court of the City and, within ten (10) days thereafter, to cause to be published once in a newspaper having general circulation in the City a notice setting forth (a) in brief and general terms the purposes for which the Bonds are to be issued and (b) the amount of the Bonds. 12o Further Actions. Each member of the Council and all other officers, employees and agents of the City are hereby authorized to take such action as they or any one of them may consider necessary or desirable in connection with the issuance and sale of the Bonds and any such action previously taken is hereby ratified and confirmed.