HomeMy Public PortalAbout1994_11_09_R237 Authorizing Bond Anticipation NotesThe Town of
Leesburg,
· , PRESENTED November 9~ 1994
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i~SOLUTION NO. 94-237 ADOPTED November 9. 1994
A RESOLUTION: AUTHORIZING THE ISSUANCE OF BOND ANTICIPATION NOTES
AND SETTING A PUBLIC HEARING
WHEREAS, the Town Council has decided to acquire real property to be used as a Public Safety
Center Site for the Leesburg Police Department and the Leesburg Volunteer Fire Department; and
WHEREAS, the contract purchase price of this site is $893,000 with settlement scheduled to
occur on December 9, 1994; and
WHEREAS, the Town Council has decided to assist with the development of an administrative
office facility to house the Loudoun County government offices in the historic district; and
WHEREAS, this assistance requires a $3,000,000 contribution on behalf of the town by December
1, 1994 plus the design and construction of the box culvert and other capital projects estimated at
$800,000; and
W~HEREAS, in order to meet these financial obligations the town must secure debt financing.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The town manager is authorized to proceed to obtain up to $4,800,000 in General
Obligation Bond Anticipation Notes to finance the costs of the acquisition of a site for a police and fire
station and to fund the town's contribution to the Loudoun County Government Center.
SECTION II. A public hearing will be held at 7:30 P.M. on November 22, 1994, before the Town
Council in the Council Chambers at 25 West Market Street, Leesburg, Virginia, concerning the issuance
of general obligation bonds and notes in anticipation thereof.
November
PASSED this 9th day of
,1994.
Clem, Mayor
Town of Leesburg
R:Anti. Notes