HomeMy Public PortalAbout1968_12_13SPEC WAIVER OF NOTICE
OF
SPECIAL MEETING
DECEMBER 13 , 1968
We, the undersigned, being members of the Town Council
of the Town of Leesburg, in Virginia, do severally waive all
statutory and Charter requirements as to notice of time ,
place and purpose of a Special Meeting of the Town Council,
and consent that the meeting shall be held in the Council
Chambers of the Town Council at 12 :00 Noon, Friday, December
13 , 1968, for the purpose of considering the items listed
below:
1 . Resolution authorizing the issuance of $600,000
Water and Sewer Bonds of the Town of Leesburg ;
2 . Resolution for the Notice of the Issuance of
said Bonds ;
and any such other business as may come before said Council.
e , - /6E. 1-:
'' enneth B . Rollins , Mayor
Al/� �
C. Maloy Fr back er F. Murray
G. Dewey Hil (.r Robert A. rr
j
/l ( GSL(� �a i /%�_
Frederick R. Howard J. n W. b p re
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;2'74
MINUTES OF SPECIAL MEETING OF.LEESBURG TOWN COUNCIL, DECEMBER 13 , 1968 .
A special meeting of the Leesburg Town Council was held in the
Council Chambers , 12 W. Loudoun Street , Leesburg , Virginia on December
13 , 1968 at 12 :00 Noon. Present were Mayor Kenneth B . Rollins , Council-
men C . Maloy Fishback, G. Dewey Hill , Frederick R. Howard, Walter F.
Murray and John W. Pumphrey ; also Town Manager James W. Ritter, Jr.
and Town Attorney George M. Martin. Absent from the meeting was Coun-
cilman Robert A. Orr.
The Waiver of Notice of this Special Meeting is attached hereto and
is signed by all members of Council .
Mayor Rollins explained the proposed Resolution to be considered
and Mr . Ritter stated that taxes would be $1. 20, based on the present
assessment . Total debt service in the General Fund will be $73 ,000
next year. Mr . Ritter also said he talked with the State Treasurer ' s
Office this morning and the Treasurer said that now is no time to sell
municipal bonds , that he believed the market might go down after the
first of the year.
On motion of Mayor Rollins , seconded by Councilman Fishback, the
following resolution was unanimously adopted:
RESOLUTION AUTHORIZING THE ISSUANCE OF $600 ,000
WATER AND SEWER BONDS OF THE TOWN OF LEESBURG
WHEREAS, the Council of the Town of Leesburg has deemed
it necessary to improve the mnbined water supply and sewage
disposal system maintained by the Town, by the construction
of improvements to the water supply system, including a water
filtration plant , water intake towers and water line to the
Potomac River, and it is deemed necessary to provide funds
in the amount of $100 ,000 pursuant to the provisions of the
Public Finance Act of 1958 of Virginia for such purpose ; and
WHEREAS , the Council of the Town of Leesburg has deemed
it necessary to improve the combined water supply and sewage
disposal system by the construction of improvements to the
plant for the treatment and disposal of sewage, including
the installation of sanitary sewer. lines , trunk lines and
disposal facilities , and it is deemed necessary to provide
funds in the amount of $500 ,000 pursuant to the provisions
of the Public Finance Act of 1958 of Virginia for such pur-
pose ; NOW, THEREFORE ,
BE IT RESOLVED by the Council of the Town of Leesburg
as follows :
Section 1 . In order to finance the cost of improving
the combined water supply and sewer disposal system maintained
by the Town by the construction of improvements to the water
supply system, including a water filtration plant , water in-
take towers and water line to the Potomac River, . and the con-
struction of improvements to the plant for the treatment of
and disposal of sewage , including the installation of sanitary
sewer lines , trunk lines and disposal facilities , the Town of
Leesburg shall issue , pursuant to the Public Finance Act of
1958 of Virginia , its bonds of the aggregate principal amount
of $600 ,000 .
Section 2 . Said bonds shall constitute a single issue
of bonds and the bonds of such issue shall be deemed to be
issued in the following amounts respectively for the follow-
ing respective purposes :
1 . Improvement of the combined water supply and sew-
age disposal system maintained by the Town, in-
including a water filtration plant , water intake
towers and water line to the Potomac River . $100,000
2 . Improvement of the combined water supply and
sewage disposal system by the construction of
improvements to the plant for the treatment and
disposal of sewage , including the installation
of sanitary sewer lines , trunk lines and dis-
posal facilities . $500,000
27
MINUTES OF DECEMBER . 13 , 1968 SPECIAL MEETING. ,
Section 3 . Each of said bonds shall be designated 7
"Water and Sewer Bond". Said bonds shall be dated December
15 , 1968 and shall consist of one hundred-twenty bonds of
the denomination of $5 ,000 each, numbered from 1 to 120 , inclu-
sive , in the order of their maturity, payable in annual install-
ments on June 15 in each year as follows : $25 ,000 in each of
the years 1972 to 19.79, inclusive , and $40,000 in each of the
years 1980 to 1989, inclusive .
Section 4. Said bonds shall bear interest at a rate or
rates which shall not exceed 6% per annum and such interest -
,, shall be payable semi-annually on (June 15 and December 15 ./ -
The bonds shall be coupon bonds without privilege of registration.
Section 5 . Both principal of and interest on the bonds
shall be payable at the principal office of First & Merchants
National Bank in Richmond, Virginia , in any coin or currency
of the United States of America which at the time of payment
is legal tender for the payment of public and private debts .
Section 6 . The corporate seal of the Town shall be
affixed to or impressed upon each of said bonds and each of
CQ
CQ said bonds shall be signed by the Mayor of the Town and shall
GQ be attested by the Clerk of Council, and each of the interest
C7 coupons representing the interest payable on such bonds shall
U be authenticated by the facsimile signature of such Mayor and
Clerk of Council .
Section 7 . Each of said bonds and each of the interest
coupons thereto attached shall be in substantially the follow-
ing form :
(Form of Bond) .
No . No.
I
UNITED STATES OF AMERICA
COMMONWEALTH OF VIRGINIA
COUNTY OF LOUDOUN
TOWN OF LEESBURG
WATER AND SEWER BOND
$5 ,000 $5 ,000
The TOWN OF LEESBURG (hereinafter referred to as "Town") ,
a municipal corporation of the Commonwealth of Virginia ,
situated in the County of Loudoun, hereby acknowledges itself
indebted and, for value received, promises to pay to the bearer
of the bearer of this bond, the sum of
FIVE THOUSAND DOLLARS ($5 ,000)
on June 15 , 19 , and to pay interest thereon from the date
of this bond until it shall mature at the rate of
per centum ( %) per annum, . payable semi-annually
9 on June 15 and December 15 in each year, upon presentation and
' surrender of the annexed coupons therefor, as they severally
become due. Both principal of and interest on this bond will
be paid at the principal office of First & Merchants National
' Bank in Richmond, Virginia , in any coin or currency of the
United States of America which at the time of payment is legal ,
tender for the payment of public and private debts . i
This bond is one of an issue of bonds of like date and
tenor, except as to date of maturity and rate of interest ,
authorized by a resolution duly adopted by the Council of
the Town on December 13 , 1968, and is issued pursuant to and
in accordance with the Public Finance Act of 1958 of Vir-
ginia (Chapter 5 of Title 15 . 1 of the Code of Virginia , 1950) ,
to pay the cost of improving the combined water supply and
sewage disposal system maintained by the Town.
276
MINUTES OF DECEMBER - 13 , 1968 SPECIAL MEETING.
The full faith and credit of the Town are hereby pledged
to the payment of the principal of and interest on this bond
in accordance with its terms .
It is hereby certified and recited that all conditions ,
acts and things required by the Constitution or statutes of
the Commonwealth of Virginia to exist , be performed or happen
precedent to or in the issuance of this bond, exist , have been
performed and have happened, and that the issue of bonds of
which this is one , together with all other indebtedness of the
Town, is within every debt and other limit prescribed by the
Constitution or statutes of the Commonwealth of Virginia .
IN WITNESS WHEREOF , the Town has caused its corporate seal
to be affixed hereto or impressed hereon, and this bond to be
signed by its Mayor and attested by its Clerk of Council, and
the coupons hereto annexed to be authenticated by the fac-
simile signature of its Mayor and Clerk of Council and this
7
bond to be dated December 15 , 1968 .
Mayor
ATTEST:
Clerk of Council
(Form of Coupon)
No . No.
June
On the 15th day of December, 19 , the TOWN OF LEESBURG ,
a municipal corporation of the Commonwealth of Virginia , situ-
ated in the County of Loudoun, will pay to the bearer of this
coupon
DOLLARS ($ )
at the principal office of the First & Merchants National Bank
in Richmond, Virginia , in any coin or currency of the United
States of America which at the time of payment is legal tender
for the payment of public and private debts , being the interest
then due on its Water and Sewer Bond, dated December 15 , 1968 ,
No. ]
•
Mayor
Clerk of Council
Section 8 . The full faith and credit of the Town of Lees-
burg are hereby pledged to the payment of the principal of and
interest on said bonds , and an ad valorem tax shall be levied
annually on all property subject to taxation by the Town for
the payment of such principal and interest as the same shall
become due and payable .
Section 9. The Mayor and Clerk of Council are hereby au-
thorized and directed to execute said bonds in accordance with
their terms .
277
MINUTES OF DECEMBER 13 , 1968 SPECIAL MEETING .
On motion of Mayor Rollins , seconded by Councilman Pumphrey, the
following resolution was unanimously adopted :
WHEREAS, the Council has by a resolution duly adopted on De-
cember 13 , 1968 , provided for the issuance of $600 ,000 Water
and Sewer Bonds described in the notice hereinafter set forth
and it is necessary , in order to comply with the provisions
of the Public Finance Act of 1958 of Virginia , that the notice
hereinafter set forth shall be published : NOW, THEREFORE,
BE IT RESOLVED by the Council of the Town of Leesburg
as follows :
(1) The Clerk of Council is hereby directed to pub-
lish the following notice :
NOTICE OF THE ISSUANCE OF BONDS OF THE
TOWN OF LEESBURG
PLEASE TAKE NOTICE that the Council of the Town of Lees-
,y burg has , by a resolution duly adopted on December 13 , 1968 ,
pursuant to the Public Finance Act of 1958 of Virginia , author-
Cq ized the issuance of bonds of the Town of Leesburg of the aggre-
C'3 gate principal amount of $600 ,000 dated December 15 , 1968 and --
that
that a certified copy of such resolution has been filed with
the Circuit Court of Loudoun County , and that the Town of Lees-
burg will issue said bonds in the following amounts respectively
for the following respective purposes :
1. Improvement of the combined water supply and
and sewage disposal system maintained by the
Town, including a water filtration plant ,
water intake towers and water line to the
Potomac River . $100,000
2 . Improvement of the combined water supply
and sewage disposal system by the construc-
tion of improvements to the plant for the
treatment and disposal of sewage , includ-
ing the installation of sanitary sewer
lines , trunk lines and disposal facilities . 500 ,000
This notice is being published pursuant to Section 15 : 1-199
of said Public Finance Act of 1958 of Virginia .
By order of the Council of the Town of Leesburg .
Dated: December 13 , 1968 .
Clerk of Council
(2) The publication of said notice shall be made in
the Loudoun Times-Mirror, which is a newspaper having a gene-
ral circulation in the Town of Leesburg .
Mr. Ritter said we would have $376,000 coming in by January 31st
and, when we get the contractozs' estimates , we will know how much will
be needed. He said it may be that we can wait until February for this
money, and what we get from Federal funds will be a help - approximately
$150 ,000 . 4
Town Attorney Martin said nothing has been heard from Mr. Stilson
Hall on Potters Field, but he understands the Bank is still interested
in buying the land. Councilman Fishback said he thinks Catoctin Circle
should be extended through this property now. Mr . Martin was instructed
to talk to Mr. Gheen about this land.
• There being no further business , the meeting adjourned at 12 : 15 P.M.
• _// / 5 /� Mayor
Clerk of the/Council