HomeMy Public PortalAbout1992_04_14_R042The Town of
Leesburg,
Virginia
RESOLUTION NO. 9 2- 4 2
A RESOLUTION:
PRESENTED April 14, 1992
ADOPTED April 14~ 1992
TOWN OF LEESBURG, VIRGINIA DECLARING ITS INTENTION TO
REIMBURSE ITSELF FROM THE PROCEEDS OF A FINANCING FOR
EXPENDITURES TO BE MADE IN CONNECTION WITH THE EXPANSION
AND IMPROVEMENT OF THE TOWN'S WASTEWATER TREATMENT
SYSTEM
WHEREAS, the Town Council of the Town of Leesburg, Virginia ("Town") has determined that
it is necessary or desirable to advance money to pay the costs of expanding and improving the town's
wastewater collection, processing and treatment system and to reimburse such advances with proceeds
of one or more financings; and
WHEREAS, the town declared its intent to reimburse itself from proceeds of the wastewater
treatment plant revenue bonds based on preliminary regulations issued by the Internal Revenue Service
through Council Resolution No. 91-189, dated September 10, 1991.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Council Resolution No. 91-189, dated September 10, 1991, is hereby repealed.
The town adopts this declaration of official intent under Treasury Regulations
SECTION I.
SECTION II.
Section 1.103-18.
SECTION III.
The Town Council reasonably expects to reimburse advances made or to be made
by the town to pay the costs of expanding and improving the town's wastewater collection, processing and
treatment system for the town, from the proceeds of its debt. The maximum amount of debt expected
to be issued for such purpose is $26,000,000 and the maximum amount from the proceeds of such debt
expected to be used to reimburse the town is $2,500,000.
SECTION IV. Beginning no later than 30 days after the adoption of this resolution and ending
on the date on which the debt is issued, this resolution will be reasonably available for inspection by the
-2-
RESOLUTION - PROCEEDS OF A FINANCING FOR EXPENDITURES FOR WASTEWATER
TREATMENT SYSTEM
general public during normal business hours, at the office of the town manager.
This resolution shall take effect immediately upon its adoption.
14th day of April
SECTION V.
PASSED this
,1992.
Robert E. Se~
Town of Leesburg
ATTEST:
Clerk of Council
R:Reimbume-WTP