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March 24, :1998 i;3 3 1
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<br />Onley in Accomack Couhty, (B) t~?acquisition of 147 acres of land and
<br />development of a campground including family cabins and staff cabins, stables
<br />for horses, dining areas, a swimming pool, and other recreational facilities for
<br />both land and water sports located on the grounds of the existing Silver Beach
<br />Campground on Onnahonock Road near Silver Beach in Northhampton
<br />County, Virginia, (C) the construction of a new gym at the Hilltop Family YMCA
<br />at 1536 Laskin Road, Virginia Beach, Virginia 23451 and (D) the construction of
<br />an indoor running track and other improvements at the Downtown Norfolk
<br />YMCA located at 312 West Bute Street, Norfolk, Virginia 23510 and (ii)
<br />refinancing (A) an outdoor pool and renovations, including but not limited to, a
<br />new gym, front entrance and lobby area, new fitness and aerobics rooms and
<br />an indoor pool, for the Suffolk Family YMCA located at 2769 Godwin Avenue,
<br />Suffolk, Virginia 23434, (B) an indoor pool and renovations to a fitness center,
<br />child care center, front entrance and lobby areas and corporate offices at the
<br />Downtown Norfolk YMCA located at 312 West Bute Street, Norfolk, Virginia
<br />23510, (C) lockers, fitness and aerobics areas, saunas, whirlpools, office space
<br />and other improvements at the Effingham YMCA located at 1013 Effingham
<br />Street, Portsmouth, Virginia 23704, (DI the acquisition and equipping of a ch~ild
<br />care center at the Salem Family Center located at 2029 Salem Road, Virginia
<br />Beach, Virginia 23456, (E) the acquisition, construction and equipping of ~he
<br />full-service Hilltop Family YMCA, including but not limited to cardiovascular,
<br />aerobics and fitness areas, a child care center and indoor pool, located at 1536
<br />Laskin Road, Virginia Beach, Virginia 23451, (F) the acquisition, renovation
<br />and equipping of the Indian River Family YMCA including a child care center
<br />located at 5660 Indian River Road, Virginia Beach, Virginia -23464, (G)the
<br />acquisition and the renovation and equipping, including but not limited to
<br />fitness and cardiovascular equipment, refurbished aerobics and locker room
<br />areas and rebuilt racket ball courts, of the full-service Greenbrier North YMCA
<br />located at 2100 Old Greenbrier Road, Chesapeake, Virginia 23320, (H) the
<br />construction of two outdoor pools and the addition of a cardiovascular fitness
<br />area and equipment and other improvements located at the Mt. Trashmore
<br />Family YMCA at 4441 South Boulevard, Virginia Beach, Virginia 23452, (I) two
<br />outdoor pools and other renovations including but not limited to a fitness
<br />center, child care center, office, lobby and parking lot improvements at the
<br />Chesapeake Family YMCA located at 1033 Greenbrier Parkway, Chesapeake,
<br />Virginia 23320 and (J) cardiovascular and weight equipment for, and
<br />renovations to the fitness areas at, the Downtown Norfolk, Mt. Trashmore,
<br />Indian River and Greenbrier North YMCA facilities, all of the foregoing being
<br />referred to herein collectively as the "Projects." The proceeds of the Bonds
<br />will also be used to finance certain costs of the issuance of the Bonds; and
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<br /> WHEREAS, Section 147(f) of the Internal Revenue Code- of 1986, 'as
<br />amended (the "Code"), and Section t5.2-4906 of the Code of Virginia of 19~0,
<br />as amended (the "Virginia Code"), provide that the highest elected
<br />governmental unit of the locality having jurisdiction over the issuer of private
<br />activity bonds and over the area in which any facility financed with the
<br />proceeds of private activity bonds is located must approve the issuance of the
<br />bonds. One of the Projects is located in the City of Portsmouth, Virginia (the
<br />"City"), and the City Council of the City (the "Council") constitutes the highest
<br />elected governmental unit of the City. The Bonds will be issued by the
<br />Alexandria Authority, and the City Council of the City of Alexandria, Virginia
<br />has given its approval to the issuance of the Bonds on February 24, 1998.
<br />Section 15.2-4905 of the Virginia Code provides that if a locality has created ,an
<br />industrial development.authority, no industrial development authority created
<br />by a second locality may finance a facility located in the first locality unless the
<br />governing body of such first locality concurs with the inducement resolution
<br />adopted by the industrial development authority of the second locality. The
<br />Alexandria Authority adopted its inducement resolution on January 12, 1998
<br />(the "Alexandria Inducement Resolution"); and
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