011-96
BOARD OF SUPERVISORS
RESOLUTION OF THE BOARD OF SUPERVISORS
OF THE COUNTY OF FREDERICK, VIRGINIA
APPLICATION FOR THE PRESERV A nON OF CIVIL WAR SITES, INC,
WHEREAS, the Industrial Development Authority of the County of Frederick, VIrginia (the
. "Authority"), has considered the application ofthe Association for the Preservation of Civil War
Sites, Inc. (the "Association") requesting the issuance of the Authority's revenue bonds in an amount
not to exceed $6,500,000 (the "Bonds") to assist in (l) refinancing the acquisition of certain parcels
ofland commonly known as Third Wmchester Battlefield, located in Frederick County, Virginia, and
(2) financing the acquisition of certain parcels of land commonly known as the Brandy Station
Battlefield and certain other parcels of land commonly known as the Cedar Mountain Battlefield, all
located in Culpeper County, Virginia (collectively, the "Project"), and has held a public hearing
thereon on November 7, 1996;
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, Section 15.1-1378 of the Industrial Development and Revenue Bond Act,
Chapter 33, Title 15.1, Code of Virginia, 1950, as amended ("Act"), provides that ifa 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 created by the second locality;
WHEREAS, the Authority issues its bonds on behalf of the County of Frederick, Virginia
(the "County"); the Project is to be located in the County, and the Board of Supervisors of the
County (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 FREDERICK, VIRGINIA:
1. The Board approves the issuance of the Bonds by the Authority for the benefit of the
Association, as required by Section 147(i) of the Code and Section 15.1-1378.1 of the Code of
Vtrginia, 1950, as amended (the "Virginia Code"), to permit the Authority to assist in the financing
of the Project.
2. The Board concurs with the resolution adopted by the Industrial Development Authority
of the Town of Culpeper, Virginia, and approves the issuance of the Bonds by the Industrial
Development Authority of the Town of Culpeper, Virginia, for the benefit of the Association as
required by Section 15.1-1378 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 the Association.
4. Pursuant to the limitations contained in Temporary Income Tax Regulations Section
5f.103-2(i) (l), 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.
Upon motion made by Richard C. Shickle, seconded by Robert M. Sager, the above resolution
was approved by the Board of Supervisors for the County of Frederick, Vtrginia, at their meeting held
on November 13, 1996, by the following recorded vote:
James L. Longerbeam
Aye
Robert M. Sager
Aye
W. Harrington Smith, Jr.
Aye
Richard C. Shickle
Aye
Margaret B. Douglas
Aye
Charles W. Orndoff, Sf.
Aye
RESOLUTION NO. 011-96