HomeMy Public PortalAbout2014_02_11_R018 Bond Reimbursement The Town of
Leesburg,
Virginia lglla PRESENTED February 11, 2014
RESOLUTION NO. 2014-018 ADOPTED February 11, 2014
A RESOLUTION: DECLARING THE INTENTION TO REIMBURSE THE TOWN FROM
PROCEEDS OF ONE OR MORE FINANCINGS FOR CAPITAL
PROJECT AND 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 and utility system improvements(the
"Projects").
THEREFORE, BE IT RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
1. That the Town adopts this declaration of official intent under Treasury Regulations
Section 1.150-2;
2. That the Town 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;
and,
3. That the maximum amount of debt or other financing expected to be issued in one or
more series for the Projects is $10,000,000.
This resolution shall take effect immediately upon its adoption.
PASSED this 1 lth day of February, 2014.
iv
' s en C. stattd, Mayor
Town of Leesburg
ATT T:
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Clerk of ..un iP
P:\Resolutions\2014\0211 Bond Reimbursement.docx