19850625 1985-17REVISED ORDINANCE
ORDINANCE NO. ._1985-17
"AN ORDINANCE AUTHORIZING THE ISSUANCE OF
$4,300,000 GENERAL OBLIGATION BONDS OF THE
CITY OF FAIRFAX, VIRGINIA, FOR THE PURPOSE OF
PROVIDING FUNDS TO PAY THE COST OF IMPROVING
THE WATER SYSTEM OF THE CITY, SUBJECT TO THE
APPROVAL OF THE QUALIFIED VOTERS."
that:
THE COUNCIL OF THE CITY OF FAIRFA× HEREBY ORDAINS:
Section 1. It is hereby found, determined and declared
(a) The water system of the City should be improved by
constructing a new underground clearwell storage tank and pump
station at the Water Treatment Plant and constructing new trans-
mission and water mains, together with the acquisition of land
and equipment necessary or desirable in connection therewith and
facilities appurtenant thereto, located totally without the City.
(b) Such enlargement, extension and improvement cannot
be accomplished from current revenues.
(c) For the purpose of providing funds to pay the cost
of such improvement, the City of Fairfax should contract a debt,
borrow money and issue general obligation bonds in the aggregate
principal amount of $4,300,000, said bonds to bear interest from
their date until their payment at the rate of Twelve per centum
(12%) per annum, unless the council should be able to sell the
bond~ at a rate or rates lower than Twelve per centum (12%), in
which case it is the intention of the Council to sell such bonds
at such lower rate or rates, and to mature at such time or times
within any period not exceeding thirty years from their date.
(d) The water system is an undertaking from which the
City may derive revenue and said bonds are to be issued under the
provisions of Article VII, Section 10(a) (2) of the Constitution
of Virginia and are not to be included within the otherwise
authorized indebtedness of the City.
(e) The full faith and credit of the City of Fairfax
is hereby pledged for the payment of the principal of and inter-
est 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 of such general obligation bonds.
Section 2. 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 that at a special election to be
held at the time of the general election to be held November 5,
1985, the qualified voters of the City vote upon the approval of
this ordinance and 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
$4,300,000 for the purpose of providing funds to pay the cost of
improving the water system of the City by construction of a new
underground clearwell storage tank and pump station at the Water
Treatment Plant and constructing new transmission and water
mains, together with the acquisition of land and equipment
necessary or desirable in connection therewith and facilities
appurtenant thereto, located totally without the City.
Section 3. The Council will fix, charge and collect
rates, fees and other charges for the use of, and for the
services and facilities furnished by, the water system.
Section 4. From and after five years from the date of
such election, whenever and for so long as the water system fails
1985-17
-2-
to produce sufficient revenue to pay for the cost of operation
and administration of said system (including the interest on all
bonds issued therefor), the cost of insurance against loss by
injury to persons or property and an annual amount sufficient to
pay at or before maturity the principal of all bonds issued on
account of said system, all such bonds then outstanding shall be
included in determining the limitation on the power of the City
to incur indebtedness pursuant to the provisions of Article VII,
Section 10(a) (2) of the Constitution of Virginia.
Section 5. The City Clerk shall cause this ordinance
to be published in The Northern Virginia Sun, 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 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 notice of the public hearing
hereon, 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 immediately upon its
approval in the special election of the qualified voters of the
City of Fairfax, to be held at the time of the generalelection
to be held November 5, 1985.
Introduced: June 11, 1985
Attest:
Adopted:
June 25, 1985
ty~lerk
VOTE:
Ronald E. Escherich
Allen C. Griffith
Robert W. Lederer, Jr.
Gene P. Moore
Patrick A. Rodio
Glenn L. White
ave _
a_ve
aye
aye
aye .
1985-17
-3-
I, Jackie Henderson, Clerk of the City of Fairfax,
Virginia, and Clerk of the Council of said City, DO HEREBY
CERTIFY that the foregoing is a true and complete copy of
Ordinance No. 1955-17 , entitled, "AN ORDINANCE AUTHORIZING THE
ISSUANCE OF $4,300,000.00 GENERAL OBLIGATION BONDS OF THE CITY OF
FAIRFAX, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE
COST OF IMPROVING THE WATER SYSTEM OF THE CITY, SUBJECT TO THE
APPROVAL OF THE QUALIFIED VOTERS" which was duly adopted by the
Council of said City in regular session on June 25, 1985 ,
and that said ordinance is recorded in the books of the City kept
for such purpose.
WITNESS my hand and the corporate seal of said City
this 25thday of June , 1985.
(SEAL)
rk0of the Council os
ity of Fairfax, Virginia
C4