016-97
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,jjtJ';j' ... .~,the :rederick County Scbool Board ("School Bom-d") and the Roan! of
'SuperyisOts\;i("Board of Supervisors") of the County of Frederick, Virginia ("County") have
det~~thatitis advisable to contract a debt and issue general obligation bonds of the County
inan,BIP-()wrtnotto exceed $2,705,000 to finance or refinance certain capital improvements for public
/SchoOI pUrpoSes ("'Bonds") and to sell the Bonds to the Virginia Public School Authority ("VPSA");
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'.;".~;f~g~;j~tj~~Q",;'THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
. ,. ..t\,'~THE"(:;OmITYO}' FREDERICK, VIRGINIA:
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.,
. 1.SThe County Administrator is authorized and directed to execute and deliver an application
_,~()th~;VPS~,m order to sell the Bonds to the VPSA at the Spring 1997 VPSA bond sale.
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,;, ../~,2;>TheBoard of Supervisors adopts this declaration of official intent under Treasury
. Regulations Section' 1.150-2. The Board of Supervisors reasona}'ly expects to reimburse advances
made or to be made by the County or the School Board to pay the costs of acquiring, constructing
and equipping the capital improvements for school purposes from the proceeds of its debt or other
financings. The maximum amount of debt of other financing expected to be issued for such
improvements is $2,705,000.
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SOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF
DERICK, VIRGINIA AUTHORIZING AN APPLICA nON
iTO THE VIRGINIA PUBLIC SCHOOL AUTHORITY
i,i.,./ .,
3. This resolution shall take effect immediately.
Adopted by the Board of Supervisors of the County of Frederick, Virginia, on February 12,
1997.
J~<1-
Clerk, Board of Supervisors
County of Frederick, Virginia