2008-10
ORDINANCE NO_ 2008-10
AN O~DINANCE AVVARDING ONE OR JVIORE GROUND I~EASES
TO EFFECT THE FINANCING OF VVATER AND SEVVER CAPITAL
IJVIPROVEJVIENTS
VVHEREAS, the Council (the ""Council") of the City of Fairfax, Virginia (the ""City"),
having received bids pursuant. to advertisement in the manner prescribed by lavv" from bidders
upon financing terms set forth OIl. Exhibit A hereto,. to act as final:"1cing lessee under one or
more ground leases and to act as financing lessor under one or more financing lease
agreen"'1.ents of certain real property (including the improvernents novv or hereafter located
thereon.) (the ....Property"''') to be used to finance capital improvements to "the City" s vvater and
sevver systems (the ....Projece")" V'Vhich bids have bec11 read aloud", and other terms of v..rhich are
ShO"'VVll in the bidding documents Oll file in the office of the City ~ttc>mey;
"-'HE:REAS, the Council has, after having follovved procedures required by general
laV\7, conducted a full analysis and consideration of the technical ability, financial condition,
legal qualification and general character of said bidders; and
",,"H E:R.E AS, the Council, after such consideration, analysis and deliberation, has
approved and found sufficient the techrlical ability, financial condition, legal qualification and
general character of the hereinafter named bidder as the bidder vvhich provides the lovvest
overall cost ar1d most favorable terms to the City to effect the lease financing;
NOVV, THEREFORE, BE IT ORDAINED by the Council of the City of Fairfax,
Virginia,. that:
1. It is the intention of the City to avvard to [Sur'lTrust Bankl the lease o-t the
Property in accordance vvith the terms referenced above and pursuant to one or more grouT1d
leases, each for a period not to exceed thirty (30) years. Each ground lease shall be
substantially in the form attached hereto as Exhibit :8, being oue of the documents relating to
the lease financing of the Proj eeL
2. This Ordinance shall take effect immediately.
APPROVED: June 10,2008
~~
~TTEST:
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. City Clerk
The vote all the motion to approve vvas recorded as follovvs:
Votes
Councilmember Cross
Councilman Greenfield
Courrcilmember Lyon
Councilman Rasmussen
Councilman Silverthome
Councilmember 'W'inter
Aye
Aye
Aye
Aye
Absent
Aye
EXHIBIT A
rSee copies of bids attachedl
A-I
3783 00009 EMF_US 25765402v]
EXHIBIT B
rSee attached form of Ground Leasel
A-I