20030513 r-03-17 RESOLUTION NO. R-03-17
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FAIRFAX, VIRGINIA,
FOR THE CATHOLIC DIOCESE OF ARLINGTON
WHEREAS, the Catholic Diocese of Arlington (the "Diocese") has requested the
Industrial Development Authority of the County of Prince William (the "Issuer") to issue its
revenue bonds (the "Bonds") under the Industrial Development and Revenue Bond Act, as
amended (the "Act"), to finance or refinance costs incurred in connection with the
construction, equipping and furnishing of (1) a new high school in Prince William County,
Virginia to be located in either the Woodbridge Magisterial District on Cherry Hill road, west
of the Apple Lane Intersection, or, alternatively, in the Dumfries Magisterial District, two
miles west of Interstate 95 on Route 234, slightly east of the intersection with Country Club
Drive, and (2) additions and renovations to the Paul VI Catholic High School located at 10675
Lee Highway, in the City of Fairfax, Virginia, including the purchase of a single detached
private home adjacent to the Paul VI Catholic High School (collectively, the "Project"), and
to pay other coasts of the Project; and
WHEREAS, the Diocese has requested the City Council of the City of Fairfax,
Virginia (the "City Council"), to approve the issuance of the Bonds to comply with Section
15.2-4905 of the Virginia Industrial development and Revenue Bond Act, as amended (the
"Act"); and
WHEREAS, a copy of the Issuer's resolution of April 7, 2003, approving the issuance
of the Bonds has been filed with the City Council; and
WHEREAS, Section 147(0 of the Internal Revenue Code of 1986, as amended (the
"Code"), requires in this case that the governmental unit having jurisdiction over the area in
which any facility financed with the proceeds of the Bonds is located approve the issuance of
such bonds; and
WHEREAS, the Industrial Development Authority of the City of Fairfax, Virginia (the
City of Fairfax Authority"), on April 24, 2003, held a public hearing on the issuance of the
Bonds; and
WHEREAS, the City of Fairfax Authority has recommended that the City Council
approve the issuance of the Bonds to comply with Section 147(0 of the Code; and
WHEREAS, a copy of the City of Fairfax Authority's resolution of April 24, 2003,
recommending the issuance of the Bonds, a record of the public heating and a fiscal impact
statement with respect to the issuance of the Bonds have been fled with the City Council;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF FAIRFAX, VIRGINIA:
The City Council hereby approves the issuance of the Bonds by the Issuer to
the extent required by Section 147(0 of the Code and Section 15.2-4906 of the
Virginia Code, and concurs with the resolution adopted by the Issuer on April
7, 2003, to the extent required by Section 15.2-4905 of the Act.
The approval of the issuance of the Bonds does not constitute an endorsement
of the Bonds or the creditworthiness of the Diocese. As required by Section
15.2-4909 of the Act, the Bonds shall provide that neither the City of Fairfax,
Virginia, nor the City of Fairfax Authority shall be obligated to pay the Bonds
or the interest thereon or other costs incident thereto except from the revenues
and moneys pledged therefor, and neither the faith and credit nor the taxing
power of the Commonwealth of Virginia, the City of Fairfax, Virginia, or the
City of Fairfax Authority shall be pledged thereto.
This Resolution shall take effect immediately upon its adoption.
Adopted this 13th day of May 2003.
/ Datte
ATTEST:
The vote on the motion to adopt the resolution is recorded as follows:
Councilwoman Cross
Councilman Greenfield
Councilwoman Lyon
Councilman Rasmussen
Councilman Silverthome
Councilwoman Winter
Vote
Aye
Aye
Aye
Aye
Aye
Aye