HomeMy Public PortalAbout1992_05_12_R068The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 12, 1992
92-68 ADOPTED May 12, 1992
SETTINGA PUBLIC HEARING FORT HE ISSUANCE OF UTILITYSYSTEM
REVENUE BONDS
WHEREAS, the Council of the Town of Leesburg hms determined the need to expand and upgrade
its wastewater treatment facility from a capacity of 2.5 MGD (million gallons per day) to a capacity of 4.85
MGD; and
WHEREAS, the engineering f~rm of CH2M Hill has been retained by the Council to prepare final
engineering plans and construction drawings for this project; and
WHEREAS, to provide funding for the estimated $22.5 million cost of this project, the Council on
April 14, 1992, selected the investment banking firm of Alex Brown & Sons, Inc. to serve the town as
senior managing underwriter for a proposed revenue bond issue not to exceed $25 million; and
WHEREAS, due to favorable conditions that now exist in the financial market place for tax exempt
municipal debt issues, it is in the town's best interest to proceed at this time with the issuance of utility
system revenue bonds to fund the cost of the project.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia that a public
hearing is hereby set for May 26, 1992, at 7:30 P.M. in the Town Council Chambers in accordance with
Section 15.1-227.8 of the 1950 Code of Virginia, as amended, for the purpose of issuing up to $25 million
in utility system revenue bonds.
PASSED this 12th
ATTEST:
Clerk of Council
R:Utility-Bonds
day of May
R0~, , ~992.
Town of Leesburg