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July 28, 1992
<br />
<br /> WHEREAS, the Bonds will ~ isancd pursuanz to thc ¥ir~ini~ tn~tri~!
<br />and R~Viiu~ Bond Aa, cMp(er 33, Tkl~ ~5~, coda of Vkg~ia 0f 1950, as am~nd~ (the
<br />"Act") and will be limited obligations of the Hcnrico ~uthority payablc anlcly from ~h~
<br />revenues ~nd re~{pts derived from paymcm~ provided by M~y~cw Hospim~ ~uch
<br />and ~SHS1;
<br />
<br /> WHEREAS, th~ face]ides to bc financ-d ~d r~inanced ar~ locamd within th~l
<br />boundaries of ~ City of Portsmouth~ Virginia, which has cr~t~
<br />Authority, and Section 15.1~378 of the Act permits t~a ~sananc~ of the Bonds by thc~
<br />Hcnrico Authority for ~e benefit of Maffv~cw He.itEl if.tho governing body of
<br />Ponsmou~, Virginia concurs in the Inducement Resolution adopted by thc Hcnfico
<br />Au[ho~W; ~d
<br />
<br /> WHEREAS, Section i47(~ of ~ initial R~v~nue ~de of ]996, as amend~ (thc
<br />"Code"), provides ~a thc highest clect~ govmmemal official of ~e gowrnn~tal
<br />havfl]g ]ufisdlction over the area in which any ]hc~lky financed wkh the process of the
<br />Bonds is lcca~ must approve ~ issuance of the Bon~s in order for ~c
<br />Bond~ to h~ enfid~ to caSEin ex~ptions from ~afion provided by ~ Code and the
<br />Council of the C~ 0¢ Pomsmoufl!, Vkginiu cons~mtas such highcs~ c]ect~ gcwrnmcnml'
<br /> WHE~EA~, On July 28, t992 the Po~smou~q Au~orky ado~ a reso{ufion
<br />a~vroving ~e issuac~e of ~he Bonds and ~comm~ing rfiat the Gty Cmncii
<br />· e issu~ce of ~e Bonds so thor the Henricc Authority ~nay issue its
<br />BSHSI and M~kw Hospita! as d~ibed above; ~d
<br />
<br /> NO',V, T~ERHFORE, BE JT ~-.ESOLVF. D by the Council of the City of Portsmouth,
<br />Vir~nia that the Council hereby approves thc issunnc~ of the Bonds and expresses ks
<br />concurrence with the Inducement Re~olution adopted ~y tho Henrico Authority for the
<br />benefit of BSHSI and Mary¥iew Hospital to the. exUgnt r~uired by Section 15.!-1378 of the
<br />Act and Section 147(0 of the Code to allow thc Henrico Authority to usc a posen (~f thc
<br />proceeds of one or more series of Bonds issued by it (a) to refund the Series !98'5A Bonds,
<br />tho Series 1985B Bonds and the Series 1985C Bonds, and (b) to f'mance the Project.
<br />
<br /> BE IT FURTHER RESOLVED that the C. ky Clerk be, and hereby is, ins~rucre, d to [or,,vard
<br />a copy of rkis Resolution to the Portsmouth Authorky, tl~e Henrico Authority and Maryvlew
<br />Hospila!.
<br />
<br /> Tnls Re~solu~on shah take effect immediately upon thc dare of it~ adoption.
<br />
<br /> .~dopted by tho Councql of *~he -City:of Portsmo~th~ Virginia, ar a meeting
<br />July 28, 1992
<br />
<br /> Mr. Epperson abstained from voting as his company has a
<br />contract with the parties involved.
<br />
<br />Ayes: Clemens, Griffin,
<br />Nays: None
<br />Abstentions: Epperson
<br />
<br />Hawks, King, Pitts, Webb
<br />
<br />NEW BUSINESS
<br />
<br />92-257 - Councilman Epperson offered the following names for
<br />the following Boards and Co~aissions:
<br />
<br />Emergency Medical Services Advisory Commission
<br />
<br /> William Kube, appointed to fill an unexpired term ending
<br />July 31, 1994, replacing Robert S.B. 0ssman.
<br />
<br />Ma~ ~E, Mc~ar%h~,appointed for a term of 3 years, ending
<br />July 31, 1995, re lacing ~:~;DeS~ :~: and Kevin Wilson, to
<br />term of'~ e~rs, ending July 31, 1995; and
<br />be reappointed for a ~ Y
<br />Virginia G. Cantwell, to be reappointed for a term of 3 years,
<br />ending July 31, 1995.
<br />
<br />
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