HomeMy Public PortalAbout2005_01_25_r021 Reimbursement for Capital ProjectsThe Town of
Leesburg,
Virginia
PRESENTED January 25, 2005
RESOLUTION NO. 2005-21 ADOPTED January_ 25, 2005
A RESOLUTION: DECLARING THE TOWN'S INTENTION TO REIMBURSE ITSELF
FROM THE PROCEEDS OF ONE OR MORE FINANCINGS FOR
CAPITAL PROJECTS.
WHEREAS, the town has determined that it may be necessary or desirable to advance
money to pay the costs of acquiring, renovating, constructing, and equipping certain capital
projects consisting primarily of the construction of road improvements, sidewalks, storm
drainage improvements (the "projects").
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The Council adopts this declaration of official intent under Treasury
Regulations § 1.150-2.
SECTION II. The Council reasonably expects to reimburse advances made or to be made
by the town to pay the costs of the projects from the proceeds of its debt or other financings. The
maximum amount of debt or other financing expected to be issued in one or more series for the
project is $9,500,000.
SECTION III. This resolution shall take effect immediately upon its adoption.
PASSED this 25th day of January 2005.
ATTEST:
Cffrk of Council
~C'. Umstattd, Mayor
Town of Leesburg
R05capital projects financing