19940208 r-94-6RESOLUTION NO. R-94-6
RESOLUTION OF OFFICIAL INTENT TO REIMBURSE
EXPENDITURES FOR CAPITAL IMPROVEMENTS WITH
PROCEEDS OF BONDS
WHEREAS, the City of Fairfax, Virginia (the "City"), intends
to undertake expansion and improvements to fire stations owned by
the City and the volunteer fire department, expansion and
reorganization of the City property yard, street and road
improvements, the restoration of certain historic properties owned
by the City, and storm water drainage system improvements
(collectively, the "Capital Improvements"); and
WHEREAS, the City intends to pay costs of the Capital
Improvements prior to the issuance of the Bonds, as hereinafter
defined, and to receive reimbursement for such expenditures from
proceeds of the sale of the Bonds;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAIRFAX
VIRGINIA:
1. The City intends to finance the Capital Improvements
through the issuance of bonds in an amount not to exceed
$7,564,000 (the "Bonds").
2. The City intends to receive reimbursement from proceeds
of the sale of the Bonds for costs of the Capital Improvements
paid by the City prior to the issuance of the Bonds.
3. The City intends that the adoption of this resolution
be considered as "official intent" within the meaning of Treasury
Regulations Section 1.150-2 promulgated under the Internal Revenue
Code of 1986, as amended.
4. The City Clerk is directed to make a copy of this
resolution continuously available for inspection by the general
public during normal business hours at the City offices from the
date of adoption hereof through the date of the issuance of the
Bonds.
5. This resolution shall take effect immediately upon
adoption.
Adopted:
February 8, 1994
Mayor
Attest:
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