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14 <br /> <br />A RESOLUTION APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT <br />REVENUE BONDS BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE <br />CITY OF PORTSMOUTH, VIRGINIA, IN AN AMOUNT NOT TO EXCEED <br />$375~000-FOR A MINOR EMERGENCY ROOM AND MEDICAL TREATMENT <br />CENTER AT 3531 AIRLINE BOULEVARD AT PORTSMOUTH, VIRGINIA. <br /> <br /> WHEREAS, the Industrial Development Authority of the <br />City of~Portsmouth, Virginia (IDA) has been authorized by <br />the Council of the City of Portsmouth, Virginia, to adver- <br />tise and hold public hearings relative to the issuance of <br />Industrial Development Revenue Bonds; and <br /> <br /> WHEREAS, the IDA has considered an application for <br />the issuance of IDA Industrial Development Revenue Bonds in <br />an ~ount not to exceed Three Hundred Seventy-Five Thousand <br />($375,000) Dollars to assist Urgent Care Associates, a Vir- <br />ginia General Partnership, of which Andrew M. Fekete is the <br />principal partner or its assigns, which shall include as a <br />principal o~rner Dr. Andrew M. Fekete in financing the acquisition, <br />construction and equipping of an out patient minor emergency <br />room and medical treatment center at 3531 Airline Boulevard <br />of the City of Portsmouth, Virginia, and has held a public <br />hearing thereon on December 20, 1983~ and <br /> <br /> WHEREAS, the IDA has requested the City Council to ap- <br />prove the issuance of the bonds to comply with the applicable <br />federal and state laws; and <br /> <br /> ~HEREAS, a copy of the IDA's resolution approving the <br />issuance of the bonds, subject to the terms and conditions <br />cQntained therein, and the appropriate certifications and <br />documentation have been provided to the City Council for <br />their consideration. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the Council approves the <br />issuance of Industrial Development Revenue Bonds by the <br />Portsmouth Industrial Development Authority for the benefit <br />of Urgent Care Associates, a Virginia General Partnership, of <br />which Dr. Andrew M. Fetete is the principal partner or its <br />assigns, which shall include as a principal owner Dr. Andrew <br />M. Fekete for the acquisition, construction and equ!pping of <br />an out patient minor emergency room and medical treatment <br />center to be located at 3531 Airline Boulevard in the City of <br />Portsmouth, Virginia. <br /> <br /> BE IT FURTHER RESOLVED that the approval of the issuance <br />of the bonds as reauired by the applicable federal and state <br />laws does not constitute an endorsement of the bonds, financial <br />viability of the facility, or the credit worthiness of the <br />company, but, as required by ~15.1-1380 of the Code of Virginia, <br />1950, as amended, the bonds shall provide that neither the <br /> <br /> <br />