028-29 (FiscalYear2024-2025BudgetAmendment(SchoolConstructionRequests)) RESOLUTION
FISCAL YEAR 20242025 BUDGET AMENDMENT
WHEREAS, Pursuant to Section 15.2-2507 of the Code of Virginia, 1950, as
Amended, the Frederick County Board of Supervisors, meeting in regular session and
public hearing held on October 23, 2024, took the following action:
NOW, THEREFORE, BE IT RESOLVED, by the Board of Supervisors that the FY
2024-2025 Budget be Amended to Reflect-
1-
eflect:1. A Su lemental Appropriation to the School Construction Fund for $151,600,000.00
for a Fourth High School.
2. A Sul2plemental Appropriation to the School Construction Fund for$22,400,000.00
for Middletown Elementary School Expansion.
3. A Supplemental Appropriation to the School Construction Fund for 13 600 000.00
for Jordan Springs Elementary School Expansion, Including a General Fuad
Supplemental Appropriation in the Amount of$7,463,418.70 for School Proffers.
Upon a motion made by Supervisor Jewell and seconded by Supervisor Wells the
above budget amendment and supplemental appropriation was adopted by the following
recorded vote:
Josh E. Ludwig, Chairman No John F. Jewell Aye
Heather H. Lockridge No Robert W. Wells Aye
Blaine P. Dunn Aye Judith McCann-Slaughter Aye
Robert T. Liero Aye
A COPY ATTEST
Michael L. Bollvqfar
Frederick Cou Administrator
BOS Res. No. 028-24
cc: Cheryl B. Shiffler, Finance Director
C. William Orndoff, Jr., Treasurer
11 .
•
Frederick County Public Schools
Executive Director of Finance Patty Carvery
cameryp@fcpsk12.net
DATE: July 29, 2024
TO: Mike Bollhoefer, County Administrator
FROM: Patty D. Camery, Executive Director of Finance
SUBJECT: 1) Supplemental Appropriation to the School Construction Fund
2) Participation in the 2024 Fall VPSA Bond Sale
3) Request to use School Proffer Funds
The Frederick County School Board requests, by way of the attached resolution, action
by the Board of Supervisors of the County of Frederick concerning the following school
construction projects:
1 . A supplemental appropriation to the school construction fund for
$151,600,000.00 for a fourth high school.
2. A supplemental appropriation to the school construction fund for $22,400,000.00
for Middletown Elementary School expansion.
3. A supplemental appropriation to the school construction fund for $13,600,000.00
for Jordan Springs Elementary School expansion.
The resolution also serves as a formal request for the Board of Supervisors of the County
of Frederick to authorize the debt associated with the construction projects through
participation and application beginning with the 2024 Fall Bond Pool through the Virginia
Public School Authority (VPSA) along with the use of school proffer funds held in the
name of the Division by the County. Participation in future VPSA borrowings will continue
until the appropriated amount approved by the Board of Supervisors of the County of
Frederick is met.
A public hearing is required and requested, after which the resolution can be considered
by the Board of Supervisors.
Please do not hesitate to contact me should you have any questions. Thank you.
Attachment
cc: Dr. George Hummer, Superintendent
Jay Tibbs, Deputy County Administrator
Cheryl Shiffler, Frederick County Finance Director
Ann Phillips, Deputy Clerk
1415 Amherst Street www.FrederickCountySchoolsVA.net 540-662-3889,ext.88105
P.O.Box 3508
Winchester,Virginia 22604-2546
RESOLUTION REQUESTING THE BOARD OF SUPERVISORS
TO ISSUE GENERAL OBLIGATION SCHOOL BONDS FOR
SCHOOL PURPOSES AND CONSENTING TO
THE ISSUANCE THEREOF
BE IT RESOLVED:
1. The School Board of the County of Frederick (the "School Board") hereby (i) requests,
pursuant to Section 15.2-2640 of the Code of Virginia, 1950, as amended (the "Code"), that the
Board of Supervisors of the County of Frederick (the "County") cause the County to issue one or
more of its general obligation school bonds (the "Bonds") in an aggregate principal amount not
in excess of$196,980,000.00, but with the objective of providing up to $187,600,000.00 in net
proceeds, to finance the following:
1) The fourth high school at$151,600,000.00.
2) Middletown Elementary School Expansion at $22,400,000.00.
3) Jordan Springs Elementary School Expansion at $13,600,000.00.
which constitutes capital projects for public school purposes and (ii) consents, pursuant to
Section 15.2-2638.B(iii) of the Code and Article VII, Section 10(b) of the Constitution of Virginia,
to the issuance of the Bonds.
2. The School Board requests to utilize proffer dollars held by the county, which are
specifically designated for the school division, to offset the amount of funds needed to borrow to
fund these projects.
3. Further, the School Board consents to and authorizes an application to the Virginia
Public School Authority (the "VPSA")for the purchase of the Bonds by the VPSA as part of its
2024 Fall Pooled Bond Sale and such future borrowings as may be necessary to finance the
above-referenced projects. The Chairman of the School Board, the Superintendent of the
schools of Frederick County School Division (the "Schools"), and such other officer or officers
of the School Board or the Schools as either may designate (the "Authorized Officers") are
hereby authorized to decrease the amount of proceeds requested to the extent the County and
such Authorized Officers deem it necessary to issue the Bonds in an amount less than provided
in paragraph 1 above.
4. The Authorized Officers are hereby authorized and directed to execute and deliver on
behalf of the School Board a Use of Proceeds Certificate and Tax Compliance Agreement (the
"Tax Compliance Agreement") setting forth the expected use and investment of the proceeds of
the Bonds and containing such covenants as may be necessary for the bonds issued by VPSA
in the Fall of 2024 or in the future (the "VPSA Bonds") to show compliance with the provisions
of the Internal Revenue Code of 1986, as amended (the "Tax Code"), and the applicable
regulations. The School Board covenants on behalf of itself and the Schools under its
governance that the School Board and the Schools shall comply with the provisions of the Tax
Compliance Agreement and the Tax Code so that the interest on the VPSA Bonds is excludable
from gross income under the Tax Code.
5. This resolution shall take effect immediately.
ADOPTED BY THE FREDERICK COUNTY SCHOOL BOARD THIS 23rd DAY OF JULY, 2024
Member Vote Member Vote
Scott Sturdivant _Y Daryl Bell —y
—
Miles Adkins Y Dianna Klein Y
Brian Erskine Y Linda Martin N
Frank Funes
Chairman
Frederick County School Board
r
Deputy Clerk
Frederick County School Board
G C�
NOVICE OF PUBLIC
HEARING
The Frederick_County Board of Supervisors will hold a Public
Hearing on Wednesday; October 23, 2024, 7:00 RM.,,in the
Board of Supervisors' Meeting Room, County Administration
Building, 107 North Kent Street, Winchester, Virginia, to
Consider the Fallowing:
Amendment to the 2024-2025 Fiscal Year Budget-Pursuant
to Section 15.2-2507 of the Code of Virginia, 1950, as
Amended, the Board of Supervisors will Hold a Public Hearing
to Amend the Fiscal Year 2G24-2025 Budget to Reflect:
1.A Supplemental Appropriation to the School
Construction Fund for $151,600,000.00 for a Fourth
High School.
2.A Supplemental Apropriation to the School
Construction Fund for;22,400,000.00 for Middletown
Elementary School Expansion.
3.A Supplemental Appropriation to the School
Construction Fund for $13,600,000.00 for Jordan
Springs Elementary School Expansion, Including a
General Fund Supplementai Appropriation in the
Amount of$7,463,418.70 for School Proffers.
------- The meeting will be broadcast via Cable Channel 16 and will be
live streamed on the website at v,rww.fcva-US/BOSMeetings.
Proposed School Bond Financings by the Board of Citizens preferring not to attend the mee#ing to speak are
Supervisors of the County of Frederick, Virginia. Notice is encouraged to submit comments to the Board via:
Hereby Given that the Board of Supervisors (The "Board") of
the County of Frederick, Virginia (the "County'? will Hold a Electronic commenting on the county website at
Public Hearing in Accordance with Section 15.2-2606 of the wwwrGva,us18OSMeetings(Click on the'eComment to submit
Code Of Virginia of 9950, as Amended, on the Issuance of your comments.)
General Obfigation School Bonds(the"Bonds")of the County in
an Aggregate Principal Amount Not to Exceed Those Listed Email to county staff Karen Vecchio at kvacchio fcva.us or
Above Along with the Use of School Proffer Funds Held in the Ann Phillips at ann.philiips@fcva.us by neon on the day of the
Name of the School Division by the County to Finance Certain meeting.
Capital Projects for Public School Purposes, Consisting
Primarily of the Fourth High School, Expansion of Middletown Mail to:October 23 Public Hearing Comments,107 N.Kent St,
Elementary School, and Expansion of Jordan Springs Winchester, VA 22601. include your name, address, and
Elementary School, Participation in Future VPSA Borrowings magisterial district,
Will Continue Until the Appropriated Amount Approved by the
Board of Supervisors of the County of Frederick is Met. A In person by calling the Deputy Clerk at 540-722-8273 to
Resolution Authorizing the Issuance of the Bonds will be 'arrange to drop off your comments.
Considered by the. Board of Supervisors at Its Meeting on
Wednesday,October 23,2024.All Interested Parties are Invited �' -
to Attend and Present Oral or Written Comments.
Interested citizens may appear before the Board to speak on
the above item(s). The agenda is available online at
www.fova.us1BOSMeetIngs and at the Frederick County
Inquiries concerning the above item(s) may beaddressed to Administrative Offices, 107 North !Cent Street,Winchester,
the Office of the County Administrator between the hours of Virginia.
8:00 AM. and 5:00 PM, Monday through Friday, 107 North Kent Michael L.Bollhoefer
Street,Winchester,Virginia 22601 (540)665-5666.Any subject County Administrator
file(s), including the full text of any ordinance or of any other County of Frederick,Virginia
item(s)to be adopted are available at the Officeofthe County
Administrator.
� www.fcva.us
The
Winchester Ste°
Wednesday
October 16,2024
NOTCE OF PUBLIC
HEAPUNG
The Frederick County Board of Supervisors will hold a Public
Hearing on Wednesday; October 23,2024, 7:00 P.M., in the.
Board of Supervisors' Meeting Room, County Administration
Building, 107 !North Kent Street, Winchester, Virginia, to
Consider the Following:
Amendment to the 2024-2025 Fiscal Year Budget-Pursuant
to Section 15.2-2507 of the Code of Virginia, 1950, as
Amended,the Board of Supervisors will Hold a Public Hearing
to Amend the Fiscal Year 2024-2025 Budget to Reflect:
I.A Supplemental Appropriation to the School
Construction Fund for $154,600,000.00 for a Fourth
High School_
2.A Supplemental Appropriation to the School'p
Construction Fund for $22400,000,00 for Middletown
Elementary School Expans6.
3.A Supplemental Appropriation to the School
Construction Fund for $13,600,000.00 for Jordan
Springs Elementary School Expansion, Including a
General Fund 'Supplemental Appropriation in the
Amount of$7,463,418.70 for School Proffers.
The meeting will be broadcast via Cable Channel 16 and will be
Proposed School Bond Financings by the 'Board of live streamed on the website at www.fcva.us/BOSMeetings.
Supervisors of the County of Frederick, Virginia. !Notice is Citizens preferring not to attend the meeting to speak are
Hereby Given that the Board of Supervisors (The "Board") of' encouraged to submit comments to the Board via:
the County of Frederick, Virginia (the "County") will Hold a
Public Hearing in Accordance with Section 15.2-2606 of the Electronic commenting r on the county- website at
Code Of Virginia of 1950, as Amended, on the Issuance of www.fcva_us1BQSMeetings(Click on the'eComment'to submit
General Obligation School Bonds(the"Bonds")of the County in your comments.)
an Aggregate Principal Amount Not to Exceed Those Listed Entail to county staff Karen Nacchio of kvacchio� a.us or
Above Along with the Use of School Proffer Funds Held in the Ann Phillips at asnn.philhp.s@fgva.us by noon on the day of the
Name of the School Division by the County to Finance Certain meeting.
Capital Projects for Public School Purposes, Consisting
(Primarily of the Fourth High School, Expansion of Middletown Mail to:October 23 Public Hearing Comments,107 N.Kent St,,
Elementary School, and Expansion of Jordan Springs
Elementary School. Participation In Future VPSA Borrowings Winchester, VA 22601. Include your name, address, arid
magisterial district. t
Will Continue Until the Appropriated Amount Approved by the
Board of Supervisors of the County of Frederick is Met. A In person by calling the Deputy Clerk at 540-722-8273 to
Resolution Authorizing the issuance of the Bonds will be arrange to drop off your comments,
1 Considered by the,Board of Supervisors at Its Meeting on
I Wednesday,October 23,,2024.All.Interested Parties are Invited .__
to Attend and Preserif Ora]or Written Comments. ---------
Interested citizens may appear before the Board to speak on
the above item(s). The agenda is available online at
i www.fcva.us1ROSMeetin9s and at the Frederick County
l Inquiries concerning the above item(-) may be addressed to Administrative Offices, 107 North Kent Street,Winchester,
the Office of the County Administrator between the hours of ,Virginia.
8:00 AM.and 5:00 PM,Monday through Friday,107 North Kent
Street,Winchester,Virginia 22601 (540)665-5666,Any subject Michael L.Bollhoefer
file(-), including the full text of any ordinance or of any other County Administrator
i
item(s)to be adopted are available at the OfFide of the County` County of Frederick,Virginia
Administrator.
www.fcva.us
The
Wmehesteir Star
Wednesday
(October 9,2024