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BE IT FURTHER RESOLVED that the <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 "residential buildings", or the credit worthi- <br />ness of Twin Lakes Associates, but, as required by si5.1-I380 <br />of the Code of Vi~ginia, 1950, as a~ended, the Bo~ds shall pro- <br />vide that neither the Commonwealth of Virginia, City of <br />Portsmouth nor PRHAshall be obligated to pay the Bonds or <br />the interest thereon or other costs incident thereto except from <br />the revenues and monies pledged therefor, and neither the <br />faith or credit of the taxing power of the Commonwealth, the <br />City nor the 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, Virginia <br />at a meeting held December 13, 1983. <br /> <br />approval Of the issuance <br /> <br />-Teste: <br /> <br />City Clerk <br /> <br /> <br />