025-96
BOARD OF SUPERVISORS
RESOLUTION OF THE BOARD OF SUPERVISORS
COUNTY OF FREDERICK, VIRGINIA
WHEREAS, the Industrial Development Authority of the County of Frederick, Virginia
("Authority"), has considered the application ofWmchester Wlldlife L.L. C. ("Borrower") requesting
the issuance of the Authority's revenue bonds in an amount not to exceed $10,000,000 ("Bonds")
to assist in the financing of the Borrower's (a) acquisition, renovation and equipping of an
approximately 156,000 square foot building currently owned by the National Wildlife Federation
("NWF') and located at 301 Tysons Drive, Stonewall Industrial Park, in the County of Frederick,
VIrginia, and (b) construction and equipping ofan approximatelsr 86,000 square foot addition thereto,
all to be leased to NWF and used for the manufacturing of printed products and related activities, and
has held a public hearing on February 29, 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, the Authority issues its bonds on behalf of the County of Frederick, Virginia
("County"); the Project is located in the County and the Board of Supervisors of the County of
Frederick, Virginia ("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 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
Borrower, as required by Section 147(f) of the Code and Section 15.1-1378.1 of the Code of Virginia
of 1950, as amended ("Virginia Code") to permit the Authority to assist in the financing of the
Project.
2. 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 Borrower.
3. Pursuant to the limitations contained in Temporary Income Tax Regulations Section
5f.l03-2(f) (l), this resolution shall remain in effect for a period of one year from the date of its
adoption.
4. This resolution shall take effect immediately upon its adoption.
Adopted by the Board of Supervisors for the County of Frederick, Virginia, this 13th day of
March, 1996.
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John 'ley, Jr.
Clerk, oard of Supervisors
County of Frederick, Virginia
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(SEAL)
RESOLUTION NO. 025-96