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47 A RESOLUTION EXPRESSING THE CONCURRENCE OF THE COUNCIL OF THE CITY OF PORTSMOUTH WITH THE INDUCEMENT RESOLUTION ADOPTED BY THE INDUSTRIAL DEVELOPM~ENT AUTHORITY OF THE COUNTY OF F~NRICO, VIRGINIA FOR THE ISSUANCE OF $25,000,000. IN MEDICAL EQUIPMENT REVENUE BONDS~ WHEREAS, the ~ndustrial Development Authority of the County of H~r'ico, Virginia, on April 16, 1982, adopted an induce~erch resolution for the benefit of Virginia Hospital Association~ a nonprofit association, wherein the Authority has agreed to assist the association in financing the ac- quisition of medical equipment for lease or sale to nonprofit community and state hospitals in Virginia through the issuance of its revenue bonds; and WHER~AS, on April 28, 1982, the Authority issued its $25,000,000. medical equipment revenue bonds (Virginia Hospital Equipment ~inancing Program), first seriest to carry out such equipment acquisition program; and WHEREAS, Portsmouth General Hospital has been advised - that pursuant to said bond issue, its application for the purchase of equipment valued at $855,000. has been approved; and WHEHEAS, the purchase of said equipment has been approved and certified by the appropriate State and Regional Hospital Regulatory Agencies; and WHEREAS, Section t5.1~1378, Code of Virginia, 1950, as __amended, requires that ~n Industrial Development Authority may not finance facilities in another jurisdiction that has an Industrial Development Authority "unless the governing body of such county, city or town in which the facilities are located or are!proposed to be located, concurs with the inducement resolution adopted by the Authority, and shows such concurrence in a duly adopted resolution"; and WHEREAS, the Council of the City of Portsmouth has been requested to express its concurrence in the inducement resolution so that equipment financed with the proceeds of the bond issue may be leased or sold to hospitals located in the City of Portsmouth. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia~ that the Council hereby expresses its concurrence with the inducement resolution.adopted by the Industrial Development Authority of the County of Henrico, Virginia, on April 16, 1981, for the purpose of financing the acquisition of medical equipment for sale or lease to non- profit con, unity'and state hospitals in Virginia through the issuance of its revenue bonds, a portion of said equipment to be located in the City of~Portsmouth, Virginia.