HomeMy Public PortalAbout2009_03_10_R031 - Reimbursement for Capital Projects Utility System Improvements
The Town of
Leesburg,
Virginia
PRESENTED March 10. 2009
ADOPTED March 10.2009
RESOLUTION NO. 2009-031
A RESOLUTION: DECLARING THE INTENTION TO REIMBURSE THE TOWN FROM
THE PROCEEDS OF ONE OR MORE FINANCINGS FOR CAPITAL
PROJECTS FOR UTILITY SYSTEM IMPROVEMENTS
WHEREAS, the Town has determined that it may be necessary or desirable to advance
money to pay the costs of certain capital projects for utility system improvements (the
"Projects").
THEREFORE, BE IT RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
1. The Town adopts this declaration of official intent under Treasury Regulations
Section 1.150-2.
2. The Town reasonably expects to reimburse advances made or to be made by the
Town to pay the costs ofthe 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 Projects is $18,000,000.
3. This resolution shall take effect immediately upon its adoption.
PASSED this 10th day of March. 2009.
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.. C. mstattd, Mayor-
Town of Leesburg
IAIf\TE
fJil
Clerk of Co