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<br />jurisdiction over the area in which any facility financed with the proceeds of the Series 2008 <br />Bonds is located must approve the issuance of the Series 2008 Bonds in order for the interest on <br />the Series 2008 Bonds to be entitled to certain exemptions from taxation provided by the Code <br />and the City Council of the City of Portsmouth, Virginia constitutes such highest elected <br />governmental official within the meaning of the Code; and <br /> <br />WHEREAS, Section 15.2-4905 of the Act requires that the governing body of the City <br />of Portsmouth, Virginia approve the issuance of the Series 2008 Bonds recommended by the <br />Portsmouth Authority; and <br /> <br />WHEREAS, on November 20, 2007, the Portsmouth Authority adopted a resolution <br />approving the issuance of the Series 2008 Bonds by the Henrico Authority and recommending <br />that the City Council of the City of Portsmouth, Virginia concur in the Inducement Resolution of <br />the Henrico Authority and approve the issuance of the Series 2008 Bonds by the Henrico <br />Authority; and <br /> <br />NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia that: <br /> <br />1. The recitals made in the preamble to this Resolution are hereby adopted as a part <br />of this Resolution. <br /> <br />2. The City Council of the City of Portsmouth, Virginia, approves the issuance of <br />the Series 2008 Bonds by the Henrico Authority for the benefit, among others, of Maryview, and <br />concurs in the Inducement Resolution adopted by the Henrico Authority for all purposes for <br />which such approval is required, including without limitation, Section 147(f) of the Code and <br />Section 15.2-4905 of the Act. <br /> <br />3. The approval of the issuance of the Series 2008 Bonds, as required by Section <br />147(f) of the Code and Section 15.2-4905 of the Act, does not constitute an endorsement to a <br />prospective purchaser of the Series 2008 Bonds or the creditworthiness of BSHSI or Maryview, <br />nor does it constitute a pledge of contributions from the City of Portsmouth, Virginia. <br /> <br />4. The City Clerk is hereby instructed to forward a copy of this resolution to the <br />Portsmouth Authority, the Henrico Authority and Maryview. <br /> <br />5. This Resolution shall take effect immediately upon its adoption. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on <br />November 27, 2007. <br /> <br />Teste: <br /> <br />City Clerk <br />