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the governing body of the locality where the facilities are located concurs with the inducement resolution ofthis Authority and shows its concurrence in a duly adopted resolution; and WHEREAS, Hanover County, Virginia, and Portsmouth, Virginia, have each created an industrial development authority pursuant to the Act; and WHEREAS, the issuance of the Bonds is contingent upon the adoption of concurring resolutions by the Board of Supervisors of the County of Hanover and the City Council of the City of Portsmouth pursuant to the Act; and WHEREAS, in materials submitted to the Authority, and in its appearance before the Authority, BSHSI has described, on behalf of the Hospitals, the Financing Purposes and the benefit thereof to BSHSI and the Hospitals in providing quality medical care to the residents of Henrico County, Hanover County and the City of Portsmouth and surrounding environs; and WHEREAS, the Authority has determined that financing the costs of the Financing Purposes by the Authority for the Hospitals and BSHSI will protect and promote the health and welfare of the inhabitants of the Commonwealth of Virginia and in particular of Henrico County, Hanover County, the City of Portsmouth and surrounding environs, will reduce the cost of providing medical care to residents of the Commonwealth of Virginia and in particular Henrico County, Hanover County and the City of Portsmouth, will be in the public interest and will be consistent with and serve the purposes of the Act; and WHEREAS, representatives of BSHSI and the Hospitals have appeared before the Authority at a public hearing (as to which proper notice was given by publication in a newspaper of general circulation on October 3 and October 10,2012) held on this date, such public hearing being that required by Section 15.2-4906 of the Act and Section 147(f) of the Code; and NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of Henrico County, Virginia: (1) It is hereby found and determined that financing the costs of the Financing Purposes will reduce the cost of providing medical care to residents of the Commonwealth of Virginia and in particular Henrico County, Hanover County and the City of Portsmouth and surrounding environs, will be in the public interest, will protect and promote the health and welfare of the inhabitants of the area served by the Authority, and will be consistent with and serve the purposes of the Act. (2) In order to finance the costs of the Financing Purposes, the Authority hereby agrees to issue its Bonds in a principal amount (excluding original issue discount) not to exceed $74,000,000, upon terms and conditions to be mutually agreed upon among the Authority, the Hospitals, BSHSI and the purchasers of the Bonds, and subject to the requirements of the Act. (3) Payment of the Bonds shall be secured by an assignment, for the benefit of the holders thereof, of the Authority's rights (excluding the Authority's rights to indemnification, fees, expenses and notice) under notes or other obligations of BSHSI and other related entities requiring payments sufficient in the aggregate to pay all principal of, premium, if any, and interest on the Bonds. - 2 - CHI-l 864I99v3