19670926 1967-4ORDINANCE NO. 1967-4
"AN ORDINANCE authorizing the issuance of $400,000
general Obligation bonds of the City of Fairfax,
Virginia, for the purpose of providing funds, with
any other available funds, to pay the cost of a
capital improvement project consisting of the con-
struction and acquisition of school improvements
including the purchase of sites, additions and
improvements of sites, the acquisition or construc-
tion of new buildings, the acquisition of existing
buildings, additions and alterations to existing
buildings, and the furnishing and equipping of
buildings or additions to buildings."; and
WHEREAS, it is necessary to construct and to acquire school
improvements including the purchase of sites, additions and improve-
ments of sites, the acquisition or construction of new buildings, the
acquisition of existing buildings, additions and alterations to exist-
ing buildings, and the furnishing and equipping of buildings or
additions to buildings, for the City of Fairfax, Virginia, the esti-
mated maximum cost of which, to be met from bond proceeds, is
$400,000; now, therefore,
THE COUNCIL OF THE CITY OF FAIRFAX HEREBY ORDAINS:
Section 1. Pursuant to the Charter of the City of Fairfax
and the Constitution and laws of Virginia, there shall be issued
general obligation bonds of the City of Fairfax, Virginia, in an
aggregate principal amount not exceeding $400,000 for the purpose of
providing funds, with any other available funds, to pay the cost of
a capital improvement project consisting of the construction and
acquisition of school improvements including the purchase of sites,
additions and improvements of sites, the acquisition or construction
of new buildings, the acquisition of existing buildings, additions and
alterations to existing buildings, and the furnishing and equipping of
buildings or additions to buildings.
Section 2. The debt limit as prescribed by said Charter and
by the Constitution of Virginia will not be exceeded by the issuance of
said general obligation bonds.
Section 3. The full faith and credit of the City of Fairfax
is hereby pledged for the payment of the principal of and the interest
on such general obligation bonds and the City shall be unconditionally
and irrevocably obligated to levy ad valorem taxes on all taxable
property in said City without limitation as to rate or amount to the
full extent necessary for the payment of such principal and interest
on such general obligation bonds.
Section 4. Following the second reading and final adoption
of this ordinance, the City Clerk shall forthwith certify a copy hereof
to the Circuit Court of Fairfax County, Virginia, or to the judge
thereof, in vacation, and it is hereby requested that the Circuit Court
order a special election of the qualified voters of the City upon the
question of contracting a debt, borrowing money and issuing general
obligation bonds of the City of Fairfax, Virginia, in the aggregate
principal amount of $400,000 for the purpose of providing funds, with
any other available funds, to pay the cost of a capital improvement
project consisting of the construction and acquisition of school
improvements including the purchase of sites, additions and improvements
of sites, the acquisition or construction of new buildings, the acquisi-
tion of existing buildings, additions and alterations to existing
buildings, and the furnishing and equipping of buildings or additions
to buildings, all pursuant to the provisions of this ordinance.
Section 5. The City Clerk shall cause this ordinance to be
published in the Fairfax City Times, a newspaper of general circulation
in the City of Fairfax, promptly following its introduction, together
with a notice containing the date, time and place for a public hearing
which shall be not less than three days after such introduction. The
Clerk of the City Council shall note the date of introduction and first
reading, the date of publication, the date of public hearing, and the
date of the second reading and final adoption in the minutes of the
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meeting. As provided by Section 8.4 of the Charter of the City of
Fairfax, this ordinance shall take effect immediately upon its
approval in a special election of the qualified voters of the City of
Fairfax.
Introduced:
Adopted:
September 12, 1967.
September 26, 1967.
Mayor
Attest:
City ~lerk
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