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assist in financing the acquisition, construction and equip- <br />ping of the "Project". <br /> <br /> BE IT FURTHER RESOLVED that the approval of the issuance <br />of the bonds as required by the applicable federal and state <br />laws does not constitute an endorsement of the bonds, financial <br />viability of the "Project", or the credit worthiness of the <br />"Company", but, as required by the applicable provislons of <br />the Code of Virginia, the bonds shall provide that neither <br />the CoInmonwealth of Virginia, City of Portsmouth, nor the <br />PRPLA shall be obligated to pay the bonds or the interest <br />thereon or other costs incident thereto except from the <br />revenues and monies pledged therefor, and neither the faith <br />or the credit of the taxing power of the Commonwealth, the <br />City nor PRHA shall be 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 22, 1985. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />