006-02
BOARD OF SUPERVISORS
BOARD OF SUPERVISORS
COUNTY OF FREDERICK
FREDERICK, VIRGINIA
RESOLUTION
,i'
At a meeting of the Frederick County Board of Supervisors (the "Board of
Supervisors") held on the 4th day of September, 2002, the following resolution was
adopted by a majority of the members of the Board of Supervisors by the following roll
call vote, as recorded in the minutes of the meeting:
PRESENT:
VOTE:
Richard C. Shickle, Chairman
W. Harrington Smith, Jr.
Margaret B. Douglas
Sidney A. Reyes
Robert M. Sager
Lynda 1. Tyler
Gina A. Forrester
Aye
Aye
Aye
Aye
Absent
Aye
Aye
On motion ofW. Harrington Smith, Jr., seconded by Margaret B. Douglas, which
carried by a vote of 6-0, the following was adopted:
A RESOLUTION AUTHORIZING FREDERICK COUNTY
TO SUBMIT AN APPLICATION TO VPSA LITERARY FUND SUBSIDY SALE
AND TO SCHEDULE A PUBLIC HEARING
WHEREAS, the Frederick County School Board (the "School Board") has an
application for financing the cost of capital improvements to Millbrook High School (the
"Project") in the amount of $4,355,000 on the Literary Fund Priority Waiting List for
which it currently desires to proceed with financing; and
WHEREAS, the School Board has received an application for the Virginia Public
School Authority ("VPSA") Fall 2002 subsidy sale, and the School Board and the Board
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Resolution - Board of Supervisors
VI'SA Literary Fund Subsidy Sale
of Supervisors of the County of Frederick, Virginia ("County") have determined that it is
advisable to contract a debt and issue gcneral obligation bonds of the County in the
amount not to exceed $4,355,000 to tinance a portion of the Project (the "Subsidy
Bonds") and to scll the Subsidy Bonds to the VPSA pursuant to the Fall 2002 Literary
Fund subsidy sale; and
NOW, THEREFORE, BE IT RESOLVED BY THE FREDERICK
COUNTY BOARD OF SUPERVISORS:
The County Administrator is authorized and directed to submit an application to
the VPSA in order to sell the Subsidy Bonds to the VPSA at the Fall 2002 VPSA bond
sale.
The County Administrator is authorized to advertise a public hearing to be held on
September 25,2002 on the issuance of the Subsidy Bonds.
This resolution shall take effect immediately upon its adoption.
Adopted this 4th day of September, 2002.
~!-
Joh . Riley, Jr.
County Administrator
Board of Supervisors Resolution No.: 006-02
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