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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, <br />financial viability of the "Project" or the credit worthiness <br />of the "Company", but as required by the applicable provisions <br />of the Code of Virginia, the Bonds shall provide that neither <br />the Commonwealth of Virginia, City of Portsmouth, nor the PRHA <br />shall be obligated to pay the Bonds or the interest thereon or <br />other costs incident thereto except from the revenues and <br />monies pledged therefor, and neither the faith or credit of <br />the taxing power of the Commonwealth, the City nor PRHA shall <br />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 November 26, 1985. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />