HomeMy Public PortalAbout1991_09_10_O037The Town of
Leesburg,
Virginia
ORDINANCE NO. 91-0-37
AN ORDINANCE:
PRESENTED September 10, 1991
ADOPTED September 10, 1991
AMENDING ORDINANCE NO. 87-0-27 AND RESOLUTION NO. 88-93, AS
AMENDED BY ORDINANCE NO. 88-0-35 TO ALLOCATE A PORTION OF
THE PROCEEDS OF THE TOWN OF LEESBURG GENERAL OBLIGATION
BONDS FOR HIGHWAY, ROAD AND STORM DRAINAGE IMPROVEMENTS
WHEREAS, The Town Council ("Council") of the Town of Leesburg, Virginia ("Town") adopted
Ordinance No. 87-0-27 ("Bond Ordinance") on October 14, 1987, authorizing the issuance of not to
exceed $10,000,000 general obligation bonds of the Town to finance the acquisition, construction,
equipping and improvement of various public improvements, including a municipal government center
and parking complex, an aquatic center and gymnasium, the public works complex and the Phase VI
Storm Drainage Project; and
WHEREAS, the Town issued its $5,000,000 General Obligation Public Improvements Bonds,
Series 1987 ("Series 1987 Bonds") pursuant to the Bond Ordinance; and
WHEREAS, the Town issued its $5,000,000 General Obligation Public Improvement bonds,
Series 1988 ("Series 1988 Bonds") pursuant to the Bond Ordinance and Resolution No. 88-93 adopted
May 11, 1988 ("Bond Resolution"); and
WHEREAS, the Town Council adopted Ordinance No. 88-0-35 amending the Bond Resolution
and the Bond Ordinance and now proposes to further amend the foregoing; and
WHEREAS, during the public hearing and subsequent discussions, several uses of the $460,000
in remaining bond funds have been considered including:
Project Amount
Edwards Ferry Road widening
Dry Mill Road sidewalk
Street lights
Hospital ouffall drainage project
Country Club turn-lane
Peer Manor drainage project
$185,000
42,000
8,000
75,000
75,000
75,000
THEREFORE, ORDAINED by the Town Council of the Town of Leesburg in Virginia as
follows:
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ORDINANCE: BOND ORDINANCE AMENDMENT
SECTION I. At the option of the Town Council, the Bond Ordinance and the Bond Resolution,
as amended by Ordinance No. 88-0-35, are amended to authorize the use of proceeds of the Series 1987
Bonds and the Series 1988 Bonds (i) in the amount of approximately $335,000 to finance certain
highway and road improvements, and (ii) in the amount of approximately $125,000 to finance certain
storm drainage improvements.
SECTION II. The appropriate officers and agents of the Town are authorized and directed to
take such further action as they deem necessary to implement the amendment set forth in this
Ordinance and ail such actions previously taken are hereby ratified and confirmed.
SECTION III. Except as amended by this Ordinance, the Bond Ordinance and the Bond
Resolution shail remain in full force and effect.
SECTION IV. This Ordinance shail take effect immediately.
PASSED this 10th day of September, 1991.
ATTEST:
Clerk of Council
Robert E. Sevila, Mayor
Town of Leesburg
O:bond