Loading...
HomeMy Public PortalAbout1997_10_03SPECIAL MEETING MINUTES OF OCTOBER 3, 1997 A special meeting of the Leesburg Town Council was held on Friday, October 3, 1997 at 9:00 a.m., in the first floor executive conference room, 25 West Market Street, Leesburg. Notice having been delivered to all members of Council prior thereto. The purposes of the meeting were to consider legislation regarding bond financing by the Town of Leesburg, Virginia to finance improvements at the town's airport. To award a contract for the airport T-hangar site development contract. To consider the performance guarantee for a waterline to the Evergreen Mill Elementa~ School and to consider the waterline reimbursement agreement for the school. The meeting was called to order by Vice-Mayor William F. Webb, Jr. COUNCILMEMBERS PRESENT J. Frank Buttery, Jr. Jewell M. Emswiller Joseph R. Trocino Kristen C. Umstattd B. J. Webb William F. Webb, Jr. Mayor James E. Clem (absent) STAFF MEMBERS PRESENT Town Manager Stcven C. Brown Deputy Town Manager Gary A. Huff Director of Finance Paul E. York Director of Utilities Randolph W. Shoemaker Deputy Town Attorney Deborah Welsh Assistant Director of Utilities Aref Etemadi Airport Manager Juan Rivera Airport Commission Chairman Stanley Caulkins Discussion was held regarding the proposed bond financing for the airport project. Mr. Hubbard Turner, a resident of 1107 Bradfield Drive, S.W., addressed the Council regarding the proposed bond financing by the town to finance improvements at the airport. Mr. Turner submitted a written statement which is made a part of the official record. Ms. Linda Lee Pretty, a resident of 36 Phillips Drive, N.W., addressed the Council regarding the expansion of the Leesburg Airport. Ms. Pretty submitted a written statement which is made a part of the official record. MOTION: On motion of Ms. Webb, seconded Ms. Emswiller, the following resolution was proposed and adopted by a roll call vote. 9%232 - RESOLUTION - OF THE TOWN COUNCIL OF THE TOWN OF LEESBURG, VIRGINIA AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR NOTES IN THE MAXIMUM AMOUNT OF $1,000,000 WHEREAS, the Town Council of the Town of Leesburg, Virginia (the "Town Council") has determined that it is advisable to authorize the issuance of general obligation bonds of the Town of Leesburg, Virginia (the "Town") in the estimated maximum amount of $1,000,000 to pay the costs of acquiring, constructing and equipping certain airport improvements for the Town (the "Project") and to issue and sell a general obligation note in anticipation of the issuance of such bonds (the "Note") of the Town in the maximum amount of $1,000,000. The Town has held a public hearing on the issuance of the Note on September 23, 1997. THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows: SECTION I. Authorization of Note and Use of Proceeds. The Town Council hereby determines that it is advisable to contract a debt and to issue and sell general obligation bonds in the maximum principal amount of $1,000,000 and the Note in anticipation thereof. The issuance and sale of such bonds and the Note are hereby authorized. The proceeds from the issuance and sale of the Note shall be used to pay the costs of the acquisition, construction and equipping of the Project. SECTION II. Pledge of Full Faith and Credit. The full faith and credit of the Town are hereby irrevocably pledged for the payment of the principal of and interest on the Note as the same become due and payable. The Town Council shall levy an annual ad velorem tax upon all property in the Town, subject to local taxation, sufficient to pay the principal of and interest on the Note as the same shall become due for payment unless other funds are lawfully available and appropriated for the timely payment thereof. SECTION III. Details and Sale of Note. The Note shall be issued upon the terms established pursuant to this Resolution and upon such other terms as may be determined in the manner set forth in this Resolution. The Note shah be issued in fully registered form and shah be dated such date as the Town Manager may approve. The Note shah be issued in such principal amount as may be determined by the Town Manager provided such amount does not exceed $1,000,000. The Note shall be issued upon the terms and conditions set forth in the commitment letter from Crestar Bank and such commitment letter is hereby accepted. The Note shah bear interest at a variable rate equal to 70% of 30 day LIBOR plus 1.06% and the Note shall mature not more than three years from its date. The Note shah be issued upon such other terms as may be approved by the Town Manager. SECTION IV. Form of Note, The Note shah be issued as a single registered note in substantially the form attached to this Resolution as Exhibit A, with such appropriate variations, omissions and insertions as permitted or required by this Resolution or approved by the Town Manager. SECTION V. Execution of Note. The Mayor and the Clerk of the Town are authorized and directed to execute the Note and to affix the seal of the Town thereto and to deliver the Note to the purchaser thereof. SECTION VI. Registration, Transfer and Exchange, Upon surrender for transfer or exchange of the Note at the principal office of the Town Manager, as Registrar, the Town shall execute and deliver in the name of the transferee a new Note in an aggregate principal amount equal to the Note surrendered and of the same form as the Note surrendered, subject in each case to such reasonable regulations as the Town and Registrar may prescribe. Any Note presented for transfer or exchange shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and substance reasonably satisfactory to the Town and the Registrar , duly executed by the registered owner or by his or her duly authorized attorney-in-fact or legal representative. The Note may not be registered to bearer. A new Note delivered upon any transfer or exchange shah be the valid obligation of the Town, evidencing the same debt as the Note surrendered, shah be secured by this Resolution and entitled to aH of the security and benefits hereof to the same extent as the Note surrendered. SECTION VII. Non-Arbitrage Certificate and Tax Convenants. The Town Manager and such officers and agents of the Town as he may designate are authorized and directed to execute a Non-Arbitrage Certificate and Tax Covenants setting forth the expected use and investment of the proceeds of the Note and containing such covenants as may be necessary in order to comply with the provisions of the Internal Revenue Code of 1986, as amended (the "Code"), including the provisions of Section 148 of the Code and applicable regulations relating to "arbitrage bonds." The Town Council covenants on behalf of the Town that the proceeds from the issuance and sale of the Note will be invested and expended as set forth in the Town's Non-Abitrage Certificate and Tax Covenants, to be delivered simultaneously with the issuance and delivery of the Note and that the Town Council shah comply with the other covenants and representations contained therein. SECTION VIII. Further Actions. The Town Manager and such officers and agents of the Town as he may designate are authorized and directed to take such further action as they deem necessary regarding the issuance and sale of the Note and aH actions taken by such officers and agents in connection with the issuance and sale of the Note are ratified and confirmed. SECTION IX. Effective Date. Aoolicable Law. In accordance with Section 15.1- 277.2 of the Code of Virginia of 1950, as amended, the Town Council elects to issue the Note pursuant to the provisions of the Public Finance Act of 1991. This Resolution shall take effect immediately. SECTION X. The Airport Commission is asked to maintain rental rates current with the T-hangar market. VOTE: Aye: Council members Buttery, Emswiller, Trocino, Umstattd, B. J. Webb, William F. Webb Nay: None Absent: Mayor Clem MOTION: On motion of Ms. Webb, seconded by Ms. Emswiller, the following resolution was proposed and adopted. 97-233 RESOLUTION AWARD OF AIRPORT T-HANGAR SITE DEVELOPMENT CONTRACT WHEREAS, the north T-hangar development is an approved Capital Improvement Plan project and on the FAA approved Airport Layout Plan (ALP); and WHEREAS, the Town advertised for sealed bids for the site development only of the 24 new aircraft T-hangars and proposals received on August 11, 1997, pursuant to state and local procurement laws; and WHEREAS, based on ten (10) complete and responsive proposals received, Prince William Construction Company (PWCC) wa,v the low bidder with a bid of $290,861.94; and WHEREAS, PWCC met all the requirements of the bid proposals; and WHEREAS, PWCC was found to be a responsive and responsible bidder; and WHEREAS, the airport staff recommends awarding the contract to PWCC. THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows: The Town Manager is hereby authorized and directed to enter into a contract in a form approved by the Town Attorney with Prince William Construction Company in the amount of $290,861.94 for the site development only, of twenty-four (24) new T-hangars at the Leesburg Municipal Airport. VOTE: Aye: Council members Buttery, Emswiller, Trocino, Umstattd, B. J. Webb, William F. Webb Nay: None Absent: Mayor Clem MOTION: On motion of, and duly seconded, the following resolution was proposed and adopted. 9%234 - RESOLUTION - AUTHORIZING REIMBURSEMENT FOR WATER LINE CONSTRUCTION WHEREAS, construction of the Evergreen Mill Elementary School will require extension of a 10- inch water line from South King Street to the school; and WHEREAS, the contractor for the school, Periui Construction, was required to provide the 10 - inch water line extension under their contract with the County of Loudoun; and WHEREAS, the town has requested Periui Construction to increase the line size to 16 inches in order to provide an adequate source of water to serve future development along Evergreen Mill Road, both within and outside existing corporate limits; and WHEREAS, Perini Construction agreed to accept $53,424.00 as the town's share for the water line upsize, based on unit costs for the approved water line design along Route 621; and WHEREAS, the landowner, on whose property the school site is located, has proposed a new alignment for this waterline through the property of Washington-Virginia Traditional Development, Sites, Inc. (Leesburg South); and WHEREAS, the reimbursement will only be paid to one of the two parties, either along Route 621 or through the property known as Leesburg South. THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows: The town manager is hereby authorized and directed to reimburse Washington-Virginia Traditional Development Sites, Inc. upon completion of the 16-inch water line, an amount not to exceed $ $53,424.00. VOTE: Aye: Council members Buttery, Emswiller, Trocino, Umstattd, B. J. Webb, William F. Webb Nay: None Absent: Mayor Clem MOTION: On motion of, and duly seconded, the following resolution was proposed and adopted. 97-235 - RESOLUTION - AUTHORIZING AN AGREEMENT AND APPROVING A WATER EXTENSION PERMIT FOR LEESBURG SOUTH WATERLINE EXTENSION WHEREAS, the construction drawings and final easement plat for Leesburg South Waterline Extension serving the Evergreen Mill Elementary School are approved; and WHEREAS, the developer, Washington-Virginia Traditional Development Sites, Inc., wishes to proceed with installation of the public improvements without providing a performance guarantee; and WHEREAS, the $466,674.00 performance guarantee for public improvements for the Evergreen Mill Elementary School cannot be released until all the improvements for the Leesburg South Waterline Extension are completed and accepted by the Town Council. THEREFORE, RESOLVED by the Council of the Town of Lee~urg in Virginia as follows: SECTION I. The Manager shall execute the contract in a form approved by the Town Attorney for public improvements with Washington-Virginia Traditional Development Sites, Inc. for the waterline improvements including a 16" waterline from South King Street to the Evergreen Mill Elementary School site as shown on the plans approved by the Director of Engineering and Public Works for Leesburg South Waterline Extension. SECTION II. Thc $466,670 corporate surety bond issued by United States Fidelity and Guaranty Company shall not be released until all waterline improvements referenced in Section I approved by the Director of Engineering and Public Works for the Leesburg South Waterline Extension are installed, inspected, approved and accepted by the Town Council. VOTE: Aye: Council members Buttery, Emswiller, Trocino, Umstattd, B. J. Webb, William F. Webb Nay: None Absent: Mayor Clem MOTION: On motion of, and duly seconded, the meeting was adjourned. Clerk of Council owneS E. Clem, Mayor of Leesburg