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<br />)'-'6 <br />'" , <br /> <br />FEBRUARY 14, 1984 <br /> <br />TUESDAY <br /> <br />approve of the issuance of the bonds; and <br /> <br />WHEREAS, the Authority issues its bonds on behalf of the City of Martinsville, <br />Virginia (the "City"), the Facility is located in the City, and the City <br />Council of the City of Martinsville, Virginia (the "Council") constitutes the <br />highest elected governmental officials of the City; and <br /> <br />WHEREAS, the Authority recommends that the Council approve the issuance of <br />the Bonds; and <br /> <br />WHEREAS, a copy of the Authority's resolution approving the issuance of the <br />Bonds, subject to the terms to be agreed upon, and a certificate of the public <br />hearing have been filed with the Council; now, therefore, <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MARTINSVILLE, VIRGINIA, as follows: <br /> <br />1. The Council hereby approves the issuance of the Bonds by <br />the Authority for the benefit of the Partnership, as <br />stipulated by said Section 103(k), to permit the Authority <br />to assist in the financing of the Facility; <br /> <br />2. The approval of the issuance of the Bonds, as stipulated <br />by said Section 103(k), does not constitute an endorsement <br />to a prospective purchaser of the Bonds of the credit- <br />worthiness of the Facility or the Partnership, and, as re- <br />quired by Section 15.1-1380 of the Code of Virginia of 1950, <br />the Bonds shall provide that neither the City nor the <br />Authority shall be obligated to pay the Bonds or the interest <br />thereon or other costs incident thereto except from the <br />revenues and moneys pledged therefor and neither the faith <br />or credit nor the taxing power of the Commonwealth, the City <br />or the Authority shall be pledged thereto; and <br /> <br />3. This Resolution shall take effect immediately upon its adoption. <br /> <br />Pursuant to statuatory requirements and to duly-advertised public notice, Council conducted <br /> <br />a public hearing on two proposed amendments (as hereinafter cited) to the City's current <br /> <br />budget. There being no response from the public thereon, Mayor Cole declared the public <br /> <br />hearing closed. On the first of these two proposed amendments, viz., as a result of the <br /> <br />recent request by the Martinsville-Henry County Rescue Squad (see minutes of Council's <br /> <br />meeting held January 10, 1984), Council unanimously appropriated (for transfer to this <br /> <br />agency) the sum of $2,677.00 from General Fund increased revenue (by a like amount) to be <br /> <br />received from the State Health Department's Division of Emergency Medical Services. On <br />