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BE IT FURTHER RESOLVED that the adoption of this <br />Resolution does not constitute an endorsement of the Bonds, <br />financial viability of the "Facility" or the credit <br />worthiness of the "Applicant", but, as required by the <br />applicable provisions of the Code of Virginia, the Bonds <br />shall provide that neither the Commonwealth of Virginia, <br />City of Portsmouth, nor the IDA shall be obligated to pay <br />the Bonds or the interest thereon or the costs incident <br />thereto excep5 from the revenues and monies pledged <br />therefor, and neither the faith nor the credit or the <br />taxing power of the Commonwealth, the City or IDA shall be <br />pledged thereto. <br /> <br /> This Resolution shall take effect immediately upon its <br />adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held January 26, 1988. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />