043-13WHEREAS, pursuant to Sections 4 and 61. of the Jail Agreement, each Participating
Jurisdiction has each agreed to pay to the Authority amounts sufficient to pay when due the
Participating Jurisdiction's respective share of the principal of and interest on the Obligations,
including the 2013 Bonds, based upon the "Allocation Formula" set forth in Section 4.A. of the
Jail Agreement as such Allocation Formula may be adjusted pursuant to Section 61. in the event
the Authority lacks sufficient funds to pay scheduled debt service on the Obligations or certain
other costs (collectively, the "Participating Jurisdiction Obligations "); and
WHEREAS, the Authority has requested the consent of the Participating Jurisdictions to
the issuance of the 2013 Bonds as provided in Section 3 of the Jail .Agreement;
NOW, THEREFORE; BE IT RESOLVED BY THE BOARD OF SUPERVISORS
OF FREDERICK COUNTY, VIRGINIA
1.: The Board of Supervisors. ( the:: "Board ") of Frederick County, Virginia (the
" County "); approves and consents, for purposes of the provisions of Section 3 of the Jail
Agreement, to the issuance by the Authority ".of the 2013. Bonds in a principal amount not to
exceed $17,000;000, and the use of the proceeds thereof to refund the 2005 Bonds, to finance the
2013 Projects, to fund a reserve and to pay related refunding and issuance costs.
1 The Board acknowledges that the 2013 Bonds will be payable from and secured
by :amounts received. by the Authority from the. payment of Participating Jurisdiction
Obligations.
3. For purposes of Section 265(b)(3)(C)(iii) of the Internal Revenue Code of 1986,
as amended, the County irrevocably agrees that the amount of the 2013 Bonds shall be allocated
to each Participating Jurisdiction in the same proportion that each Participating jurisdiction has
been allocated payment responsibilities under the : " Allocation Formula," determined for Fiscal
year ending June 30, 2012, under the Jail Agreement with respect to the 2013 Bonds.
4. The Board authorizes and consents to the inclusion of County information in the
Official Statement (in its preliminary and final forms) to be prepared by the Authority for
purposes of marketing the 2013 Bonds and hereby directs County staff to assist the Authority in
the preparation of such County disclosure:
5. The County Administrator is hereby authorized and directed to execute and
deliver such documents and certificates as are necessary to enable the'Authority to .issue the 2013
Bonds; to refund the 2005 Bonds and to finance the 2013 Projects, including; but not limited toga
continuing disclosure agreement and closing certificates requested by the Authority and its bond
counsel. Any other County official so designated by the County Administrator is hereby
similarly authorized and directed to execute and deliver such documents and certificates.
6. All other acts of the officers of the County, heretofore or hereafter taken; that are
in conformity with the purposes and intent of this Resolution and in furtherance of the issuance
and sale of the 2013 Bonds, the refunding of the 2005 Bonds and the financing of the 2013
Projects by the Authority are hereby approved, ratified and confirmed.
2
3