HomeMy Public PortalAbout1998_09_22_R213 The Town of
Leesburg,
Virginia
RESOLUTION NO. 98- 213
PRESENTED September 22. 1998
ADOPTED Sep_ tember 22, 1998
A RESOLUTION:
AUTHORIZING THE TOWN MANAGER TO SUBMIT AN
APPLICATION TO THE VIRGINIA OUTDOORS FUND REVOLVING
LOAN PROGRAM
WHEREAS, the current Capital Improvements Program identifies completion of the Ida
Lee Park Phase II project for construction in the Spring of 1999; and
WHEREAS, a funding source currently available to the town for outdoor recreation
facilities is the Virginia Outdoors Fund Revolving Loan Program; and
WHEREAS, the town is eligible to apply for a simple interest loan up to $200,000, or
more if available, at a rate of 4 percent less than the average prime rate; and
WHEREAS, the Town Council Finance Committee has recommended submission of an
application to the Virginia Outdoor Fund Revolving Loan Program.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia that the
town manager is hereby authorized to submit an application to the Virginia Outdoor Fund
Revolving Loan Program in the amount of $200,000, or more if available, for the purpose of
funding the completion of the Ida Lee Park Phase II project.
PASSED this 22nd day of September, 1998.
Clerk of Council
VA Outdoor Fund. Res (khd 8)
Ja~ies E. Clem, Mayor
Town of Leesburg