HomeMy Public PortalAbout2005_04_12_r069The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
2005-69
PRESENTED April 12, 2005
ADOPTED April 12, 2005
DECLARING THE TOWN'S INTENTION TO REIMBURSE THE TOWN
FROM THE PROCEEDS OF ONE OR MORE FINANCINGS FOR CERTAIN
COSTS OF UTILITY SYSTEM IMPROVEMENTS
WHEREAS, the Council of the Town of Leesburg has determined that it is necessary or
desirable to advance money to pay the costs of certain utility system improvements; and
WHEREAS, the Finance Director recommends that the town declare its intent to reimburse
itself for costs advanced for those utility system improvement projects identified for bond financing.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Council adopts this declaration of official intent under Treasury
Regulations, Section 1.150.2.
SECTION II. The Town Council reasonably expects to reimburse advances made or to be
made by the town to pay the costs of certain utility system improvements from the proceeds of one or
more financings.
$40,000,000.
SECTION III.
PASSED this 12th day of April 2005.
ATTEST:
The maximum amount of financing expected to be issued for these improvements is
This resolution shall take effect immediately upon its adoption.
~ C. Unliitattd, Miyor (
Town of Leesburg