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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 the bonds shall provide <br />that neither the Commonwealth of Virginia, City of <br />Portsmouth, nor IDA shall be obligated to pay the bonds or <br />the interest thereon or the cost incident thereto except <br />from the revenues and monies pledged therefore and neither <br />the faith nor the credit of the taxing power of the <br />Commonwealth, the City nor IDA shall De 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 May 26, 1987. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />