015-98
BOARD OF SUPERVISORS
RESOLUTION
OF THE BOARD OF SUPERVISORS OF THE
COUNTY OF FREDERICK, VIRGINIA
WHEREAS, the Industrial Development Authority of the County of Frederick, Virginia
("Authority"), has been asked by Westminster-Canterbury of Winchester, Inc. ("Westminster-
Canterbury") to hold a public hearing on the issuance of revenue bonds by the Industrial Development
Authority of the City ofWmchester ("Wmchester Authority") in an amount not to exceed $35,000.00
("Bonds") to (a) refund the Winchester Authority's Replacement Bonds (Westminster-Canterbury)
of Winchester, Inc.), Series 1991, issued on September 11, 1991 for the purpose of refunding the
Winchester Authority's Residential Care Facility First Mortgage Revenue Bonds (Westminster-
Canterbury ofWmchester, Inc.), Series 1985, issued on July 1, 1985 for the purpose of financing the
acquisition, construction and equipping of a residential and health care center located at 300
Westminster-Canterbury Drive, Winchester, Virginia, a portion of which is located in the City of
Wmchester, Virginia and a portion of which is located in Frederick County, Virginia (the "Facility"),
(b) finance the construction and equipping of a three story building on the grounds of the Facility to
be located wholly within Frederick County, Virginia, consisting of approximately 48 assisted living
units, a memory impairment day program and other related facilities (the "Assisted Living Project"),
(c) finance the costs of renovations to the Facility's Health Center, including the conversion of semi-
private nursing care and personal care units to private units, (d) fund a debt service reserve fund in
connection with the bonds and (e) pay a portion of the costs of issuance associated with the bonds,
and has held a public hearing on January 7, 1998;
WHEREAS, section 147 (t) of the Internal Revenue Code of 1986, as amended (the "Code")
provides that the governmental unit having jurisdiction 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, section 15.2-4905 of the Industrial Development and Revenue Bond Act,
Chapter 49, Title 15.2, Code of Virginia of 1950, as amended ("Act"), provides that if a locality has
created an industrial development authority, no industrial development authority created by a second
locality may finance a facility located in the first locality unless the governing body of such first
locality concurs with the inducement resolution adopted by the industrial development authority
created by the second locality;
WHEREAS, the Assisted Living Project and a portion of the Facility are located in the
County of Frederick, Virginia ("County") and the Board of Supervisors of the County ("Board") has
created an industrial development authority and 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, the Winchester Authority's resolution,
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 FREDERICK, VIRGINIA:
1. The Board approves the issuance of the Bonds for the benefit of Westminster-Canterbury,
as required by Section 147(t) of the Code and Section 15.2-4906 of the Code of Virginia of1950,
as amended ("Virginia Code").
2. The Board concurs with the resolution adopted by the Industrial Development Authority
of the City 'of Winchester and approves the issuance of the Bonds by the Industrial Development
Authority of the City ofWmchester for the benefit of Westminster-Canterbury as required by Section
15.2-4905 of the Act.
3. 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 Westminster-Canterbury.
4. Pursuant to the limitations contained in Temporary Income Tax Regulations Section
5f.l03-2(t) (1), this resolution shall remain in effect for a period of one year from the date of its
adoption.
5. This resolution shall take effect immediately upon its adoption.
Adopted by the Board of Supervisors of the County of Frederick, Virginia, this 14th day of
January, 1998.
~/6(r
Jo . Riley, Jr.
Clerk, Board of Supervisors
County of Frederick, Virginia
RESOLUTION: 015-98