Section 2. It is hereby found, determined, and
declared that, based upon responsible engineering and economic
estimates and advice of appropriate officials of the University
as shown on Exhibit A hereto, the anticipated net revenues
received from the food service contract fees pledged above will
be sufficient to pay the Dining Facilities Current Expenses,
the principal of, premium, if any, and interest on that portion
of the Bonds issued to finance the Dining Hall Project as the
same become due, and debt service on any outstanding obligations
that have been issued to provide funds for University-owned
student dining facilities, so long as (i) the effective
true interest cost on the Bonds does not exceed 12% per annum
and (ii) the aggregate amount of debt service actually payable
on that portion of the Bonds issued to finance the Dining Hall
Project from their date of issue to the end of any bond year
does not exceed the estimated aggregate amount of debt service
for the corresponding period as shown on Exhibit A, or the
Vice President for Business and Finance provides the Governor
and the Treasury Board of the Commonwealth of Virginia with
satisfactory evidence that the revenues pledged in Section 1
above will also be sufficient to pay the additional amount of
actual debt service which for any such period exceeds the
estimated amount shown on Exhibit A.
