19781107 1978-23ORDINANCE NO. 1978- 23
"AN ORDINANCE AUTHORIZING THE ISSUANCE OF
¢~NERAL OBLIGATION BONDS OF THE CITY OF
FAIRFAX, VIRGINIA, IN AN AMOUNT NOT EX-
CEEDING $135,000.00 FOR THE PURPOSE OF
PROVIDING FUNDS TO PAY THE pROPORtIONATE
SHARE OF THE CITY OF FAIRFAX FOR THE NET
CONSTRUCTION COST OF THE ADULT DETENTION
CENTER. l!
THE COUNCIL OF THE CITY OF FAIRFAX HEREBY ORDAINS:
Section 1. It is hereby found, determined and declared that:
(a) The City of Fairfax has and will continue to have a need for
facilities for the detention of adult offenders and therefore it is
necessary and beneficial for the City to contribute to the cost of the
construction of such facilities.
(b) Section 15.1-1005 of the 1950 Code of Virginia, as amended,
mandates the sharing of cost for such facilities and services with the
County of Fairfax, by proportion of the total aggregate population; and
the City and Fairfax County have entered into a contractual agreement
covering the payments required to be made by the City, and the amount
for the Adult Detention Center to be funded by bonds is not to exceed
$135,000.00.
(c) The payment for the Adult Detention Center cannot be accc~plished
from current revenues.
(d) Pursuant to the Charter of the City of Fairfax and the Constitution
of Virginia, the City of Fairfax shall contract a debt, borrow money and
issue general obligation bonds in the aggregate principal amount not exceeding
$135,000.00 to bear interest frcm their date until their payment at the
rate of eight per centum (8%) per annum, unless the Council should be
able to sell the bonds at a rate or rates lower than eight per centum
(8%) per annum, in which case it is the intention of the Council to sell
such bonds at such lower rate or rates, and maturing at such time or
times not exceeding forty years frc~ the date of the issue as may be
determined by the Council of the City of Fairfax, and be redeemable
before maturity, at the option of the said municipality at such price or
prices and under such terms and conditions as fixed by the said Council
prior to the issuance of the bonds, for the purpose of providing funds,
with any other available funds, to pay the proportionate share of the
City of Fairfax for the net construction cost of the Adult Detention
Center located on Jones Street.
(e) The full faith and credit of the City of Fairfax is hereby
pledged for the payment of the principal of and 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.
(f) The debt limit as prescribed by the Charter and by the Constitution
of Virginia will not be exceeded by the issuance of the said general
obligation bonds.
Section 2. 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
1978-23
-2-
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 not exceeding $135,000.00 for the purpose of providing funds to
pay the proportionate share of the City of Fairfax for the net con-
struction oost of the Adult Detention Center located on Jones Street.
Section 3. The City Clerk shall cause this ordinance to be published
in the Fairfax Globe, a newspaper of general circulation in the City of
Fairfax, prcmptly 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 meeting. As provided
by Section 8.4 of the Charter of the City of Fairfax, this ordinance,
insofar as it authorizes the issuance of the bonds described herein,
shall take effect inm~diately upon its approval in a special election of
the qualified voters of the City of Fairfax.
Introduced: October 24, 1978
Adopted: November 7, 1978
Mayor
Cit~ Clerk