HomeMy Public PortalAbout1985_07_10_R114The Town ofLeesburginVirginia PRESENTED July 10~ 1985
RESOLUTION NO. 85-114 ADOPTED July 10~ 1985
A RESOLUTION: AUTHORIZING A PUBLIC HEARING CONCERNING TOWN APPROVAL OF TAX
EXEMPT BOND FINANCING BY THE SUFFOLK REDEVELOPMENT AND
HOUSING AUTHORITY FOR EXETER GARDEN APARTMENTS
WHEREAS, IMG/Exeter Associates Limited Partnership has applied to the
Suffolk Redevelopment and Housing Authority for tax-exempt bond financing for
the Exeter Garden Apartment project in Leesburg, Virginia, pursuant to
Section 36-19(fl) of the 1950 Code of Virginia, as amended, and Section 103(b)(4)(A)
of the 1954 Internal Revenue Code, as amended; and
WHEREAS, a resolution of invitation by the Town of Leesburg is required to
allow the Suffolk Redevelopment & Housing Authority to finance this project in
Leesburg; and
WHEREAS, Section 103(k) of the Internal Revenue Code requires that a public
hearing be conducted by the Town Council prior to its decision regarding this
resolution of invitation;
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. A Notice of Public Hearing to consider the request by
IMG/Exeter Associates Limited Partnership to gain Town approval for tax-exempt
bond financing from the Suffolk Redevelopment and Housing Authority for the con-
struction of up to 384 apartments, to be located in the Exeter Planned
Residential Neighborhood between Routes 15 By-pass and 15 Business north of
Leesburg Elementary School, shall be published in the Loudoun Times-Mirror on
August 8 , 1985 and August 15 , 1985 for
public hearing on August 28 , 1985 at 7:30 p.m. in the Council
Chambers, 10 Loudoun Street, S.W., Leesburg, Virginia.
PASSED this 10th day of
ATTE ST:
Clerk of Cou~il
suffolk
July , 1985.
Robert E. Sevila, Mayor
Town of Leesburg