HomeMy Public PortalAbout1989_09_12_R186Leesb°utrg
RESOLUTION NO.
A RESOLUTION:
PRESENTED September 12, 1989
89-186 ADOPTED September 12, 1989
RATIFYING THE AWARD OF THE TOWN OF LEESBURG, VIRGINIA
$4,500,000 GENERAL OBLIGATION PIJ-BLIC IMPROVEMENT BONDS,
SERIES 1989
WHEREAS, the Town Council CCouncil~) of the Town of Leesburg, Virginia CTown') adopted
an Ordinance on August 8, 1989, COrdinance'), authorizing the issuance and sale of the town's
$4,500,000 General Obligation Public Improvement Bonds, Series 1989 CBonds~); and
WHEREAS, a Preliminary Official Statement and Notice of Sale with respect to the bends have
been prepared and distributed pursuant to the Ordinance; and
WHEREAS, bids have been received for the purchase of the bonds and the town manager has
awarded the bonds to the bidder whose proposal results in the lowest true interest cost to the town
in accordance with the Ordinance:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. Ratification of Award. The Council ratifies the award of the bonds to Merrill
Lynch Capital Markets at the price and interest rates set forth therein and ratifies the terms of the
bends as established pursuant to the attached Certifmate as to interest rates.
SECTION II. F'~nR of Resolution. The appropriate officers and agents of the town are
authorized and directed to file a certified copy of this resolution with the Circuit Court of the County
of Loudoun, %r~rginia pursuant to Section 15.1-199 of the Code of ¥~mginia, as amended, and to take
such further action as they deem necessary regarding the issuance and sale of the bonds and all such
actions previously taken by such officers and agents are ratified and confnuned.
SECTION III. Effective Date. This resolution shall take effect immediately.
The undersigned Clerk of the Town Council of the Town of Leesburg, V~rginia, certifies that the
foregoing constitutes a true, complete and correct copy of the resolution adopted at a meeting of the
Town Council of the Town of Leesburg, V'mgin~, held on September 12, 1980.
-2-
EESOLUTION - RATIFYING THE AWARD OF $~,500,000 GENERAL OBLIGATION BONDS
PASSED this 12th day of September
~ ~989.
Robert E. ~evi~ ~iayor
Town of Leesburg
A~TEST:
bond-award