007-95
RESOLUTION OF THE BOARD OF SUPERVISORS
OF THE COUNTY OF FREDERICK AUTHORIZING AN APPLICATION
TO THE VIRGINIA PUBLIC SCHOOL AUTHORITY
WHEREAS, the Frederick county School Board and the Board of
Supervisors (IIBoard") of the County of Frederick, Virginia
("County") have determined that it is advisable to contract a debt
and issue general obligation bonds of the County in an amount not
to exceed $ 3,700,000.00 to finance certain capital improvements
for public school purposes ("Bandsll) and to sell the Bonds to the
Virginia Public School Authority ("VPSA")i
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
THE COUNTY OF FREDERICK, VIRGINIA:
1. The county Administrator is authorized and directed to
submit an application to the VPSA in order to sell the Bonds to the
VPSA at the Fall 1995 VPSA bond sale.
2 . The Board of Supervisors adopts this declaration of
official intent under Treasury Regulations section 1.150-2. The
Board of Supervisors reasonably 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 9.f debt of other financing expected to be issued
for such improvements is $ 3,700,000.00.
3. This resolution shall take effect immediately.
Adopted by the Board of Supervisors of the County of
Frederick, Virginia on september 13, 1995.
RESOLUTION NO. 007-95