RESOLUTION
OF THE BOARD OF SUPERVISORS OF
THE COUNTY OF ALBEMARLE, VIRGINIA

WHEREAS, the Economic Development Authority of Albemarle County, Virginia (the "Authority"), has considered the application of The University of Virginia Health Services Foundation (the "UVAHSF") located at 500 Ray C. Hunt Drive, in Albemarle County, Virginia, requesting the issuance of the Authority's variable rate revenue bonds in an amount not to exceed $23,100,000 (the "Bonds") to assist in financing (i) the acquisition, construction and equipping of a 64,000 square foot long-term acute care hospital, including an approximately 8,000 square foot imaging, center to be located adjacent to property at 2985 Ivy Road in Albemarle County, Virginia, (ii) the acquisition and installation of a Gamma Knife (a specialized neurosurgical device) at the University of Virginia Medical Center located in the Primary Care Building at 1221 Lee Street at University of Virginia Medical Center in the City of Charlottesville, Virginia, (iii) the replacement of the HVAC system in the Northbridge Building at UVAHSF's facilities, located at 2955 Ivy Road in Albemarle County, Virginia, (iv) capitalized interest and (v) certain costs of issuing the bonds (collectively, the "Project"), and has held a public hearing on October  14, 2008;

WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), provides that the governmental unit having jurisdiction over the issuer of private activity bonds and over the area in which any facility financed with the proceeds of private activity bonds is located must approve the issuance of the bonds;

WHEREAS, the Authority issues its bonds on behalf of the County of Albemarle, Virginia (the "County"); the Project to be located in the County and the Board of Supervisors of the County of Albemarle, Virginia (the "Board") constitutes the highest elected governmental unit of the County;

WHEREAS, the Authority has recommended that the Board approve the issuance of the Bonds; and

WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, subject to the terms to be agreed upon, a certificate of the public hearing and a Fiscal Impact Statement have been filed with the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COUNTY OF ALBEMARLE, VIRGINIA:

1.                  The Board approves the issuance of the Bonds by the Authority for the benefit of UVAHSF as required by Section 147(f) of the Code and Section l5.2-4906 of the Code of Virginia of 1950, as amended ("Virginia Code") to permit the Authority to assist in the financing of the Project.

2.                  The approval of the issuance of the Bonds does not constitute an endorsement to a prospective purchaser of the Bonds of the creditworthiness of the Project or UVAHSF.

3.                  This resolution shall take effect immediately upon its adoption.

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